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'Social innovation' has long been recognised as an effective way to address social issues in foreign countries. In Hong Kong there are also notable privately-run examples. One of the priorities for SIE Fund is to facilitate cross-sector collaboration and help build an ecosystem supporting social innovation and social entrepreneurship. At this year's Social Enterprise Summit, a discussion session titled 'Social Innovation for Policy-makers' was host by Efficiency Unit of the HKSAR Government. Four speakers, namely Mr Chua Hoi-wai (then Business Director [Policy Research and Advocacy] of The Hong Kong Council of Social Service), Mr Kee Chi-hing (Chair, Fullness Social Enterprises Society) (both are SIE Fund Task Force Members), Ms Penny Low (Founder and President of Social Innovation Park of Singapore) and Mr Nigel Jacob (Co-chair of Mayor's Office of New Urban Mechanics of Boston) were invited to share the successful cases of social innovation in various communities as well as the role of governments. The session was attended by over 150 people. Attendants were invited to participate in completing a Mandala Chart which recorded their joint efforts in identifying ways to improve our society.

In western societies, social innovation with citizens' participation has become an effective way to address social problems. To learn from their experience, SIE Fund Task Force Secretariat has organised a seminar inviting Mr Nigel Jacob, Co-chair of Mayor's Office of New Urban Mechanics, Boston to introduce how the city government engage the citizens in formulating better city life. Attendants included civil servants and executives from NGOs. New Urban Mechanics is a civic innovation incubator and R&D lab within Boston's City Hall providing support to innovators. As illustrated in the seminar, many ideas in city life improvement were initiated by individual citizens and realised with the help of New Urban Mechanics.

Social needs are ever increasing and changing while resources are scarce. How to do more with less? Combining the intents to generate social impacts as well as financial returns, social impact investment is one of the answers to that question. SIE Fund Task Force Secretariat has invited Ms Rosemary Addis, a world-renowned social innovation strategist who has been working with various international social investment agencies, to share her experience in collaborating with different sectors in promoting impact investment in Australia. Two seminars were held, one for impact investors and the other civil servants, both groups being major stakeholders of social innovation and SIE Fund. SIE Fund Task Force Members also participated in the two seminars.

Video record of the talk delivered by Ms Rosemary Addis on 26 November

Social impact bond (SIB) is a form of financing for social innovation programmes in which the government commits to pay for improved social outcomes that result in public sector savings, meaning that taxpayers do not need to pay unless the programmes achieve the desired results and savings. To introduce the concept to SIE Fund Task Force Members, civil servants and practitioners in the social innovation space, SIE Fund Task Force Secretariat has invited Mr Kevin Robbie, Executive Director, Employment of Social Ventures Australia to speak at a seminar. The development of SIB in UK and Australia was shared, followed by an introduction to the principles of social impact assessment.

The development of social enterprise in Hong Kong is encouraging. Bauhinia Foundation Research Centre has recently published a study report on the subject. Titled 'Social Enterprises in Hong Kong', the report puts forward suggestions on fostering the development of social enterprises. A meeting was held during which the Research Centre introduced the report to the SIE Fund Task Force. Task Force Members gave positive responses on how to use innovative methods to support social enterprises and young entrepreneurs.

The full report and executive summary can be downloaded from the Centre's website.

The SIE Fund aims to facilitate cross-sector collaboration with the hope that the synergy effect will expedite social innovation in identifying alternative ways to address poverty issue. The business sector will be playing a vital role in making it work. In addition to introducing the SIE Fund, Deputy Head of Efficiency Unit of the SAR Government Mrs Patricia Lau shared with an audience of some 200 business leaders at the award presentation ceremony of the '2013 Best Practice Awards' held on 18 November the notion of embedding social and financial values in corporate social responsibilities and business objectives. It is hoped that this will help build an ecosystem in which social innovation can flourish.

Organised by Education for Good and co-organised by Efficiency Unit of the HKSAR Government, the SIE Fund seminar attracted some 50 participants. An introduction to the Fund was given by Deputy Head of Efficiency Unit Mrs Patricia Lau, followed by a briefing by SIE Fund Task Force Member Mr Kee Chi-hing on social entrepreneurship and social impact assessment. Questions regarding fund application were raised during the Q and A session, reflecting audience's enthusiasm in taking part in the Fund to help address social problems.

Elders will be among the ultimate beneficiaries of SIE Fund. With regard to elderly service, the Senior Citizen Home Safety Association (SCHSA) has remarkable accomplishment. In addition to the renowned Personal Emergency Link, the Association has been introducing other services to cater for the needs of the elderly. For experience sharing, SIE Fund Task Force paid a visit to SCHSA's headquarters in Homantin. After an introduction on SCHSA's services and latest development given by their CEO Ms Irene Leung, Task Force Members were invited to tour the brand-new Jockey Club Life Journey Center. The Centre makes use of interactive exhibits to inspire visitors to rethink the meaning of life.

The SIE Fund Task Force is working on the arrangement to invite application for the first batch of intermediaries. To enhance understanding of the concept of social entrepreneurship and background of the SIE Fund among interested parties, Task Force Member Mr Kee Chi-hing and Deputy Head of Efficiency Unit, HKSAR Government Mrs Patricia Lau were invited to speak at a sharing session held by Good Lab on 6 November. About 70 people participated in the discussion. Attendants also took the opportunity to network with other social innovation devotees.