Temasek Trust launches digital marketplace for funders seeking impactful projects to support

The annual Philanthropy Asia Summit (PAS) has become a hallmark event for Singapore's philanthropic scene. Organised by the Philanthropy Asia Alliance, alongside Temasek Foundation, the summit, held this year from 15-18 April 2024 at Marina Bay Sands, Sands Expo & Convention Centre, serves as a vital platform connecting regional and global philanthropists with a shared ambition — tackling Asia's most pressing social and environmental challenges. 

Temasek Trust, a philanthropic institution itself, leverages its own experience and resources to convene these key stakeholders. 

PAS fosters collaboration by sparking discussions and formulating "Calls to Action" (CTAs) on issues like climate change, education, and healthcare.  This year's summit, themed "Partnerships for Action," exemplifies this approach, uniting diverse actors to design and implement impactful solutions for a sustainable future. 

As the PAS 2024 unfolds at the Sands Expo & Convention Centre, the spotlight is on three innovative initiatives poised to transform the landscape of philanthropy and social entrepreneurship in Asia.

A digital marketplace for social impact

The beta version of Co-Axis, a visionary digital impact marketplace, was unveiled, connecting funders with over 70 impactful projects spanning over 40 countries. This platform serves as a critical bridge between early-stage businesses, charitable organisations, and blended finance projects with substantial impact potential. 

Aimed at accredited investors and institutional funders, Co-Axis promises a transparent and efficient pathway to identifying impact projects by offering a diversified portfolio across themes such as climate, health, and employment.  

Play

For instance, from the healthcare portfolio, CareSpan promises to enhance healthcare in the Philippines for underserved Filipino communities, supported through Co-Axis’s recoverable grants. It aims to bridge the healthcare gap, offering much-needed medical services and support to areas where healthcare infrastructure is lacking.

Play

There’s also ClimeCapital, a Regional Energy Management Initiative (REMI) that spans across Indonesia, the Philippines, and Vietnam and focuses on boosting energy efficiency within the commercial and industrial sectors. Through a mix of technical assistance and recoverable grants facilitated by Co-Axis, the initiative is paving the way for sustainable energy practices in Southeast Asia.

Play

And then, there’s ECOSOFTT, a Decentralised Water and Environmental Services with operations in Singapore, India, and Indonesia. This project utilizes equity and convertible loans to enhance water management and environmental services in rural areas. By focusing on decentralised solutions, it addresses critical infrastructure needs while promoting environmental sustainability.

Cultivating future changemakers

In a significant stride toward nurturing commercial viability and scalability in impact startups, the Amplifier mentorship programme introduced its first cohort of mentees at this year's Philanthropy Asia Summit. This year-long initiative is designed to support startups that not only seek financial sustainability but also aim to generate substantial social and environmental impacts. 

The programme offers a comprehensive support system, including access to catalytic capital, high-quality impact training, and a vast network of professional services, ensuring that these startups navigate the challenging 'Valley of Death' in their growth trajectories effectively. 

Each participant in the programme is granted a catalytic capital investment of S$250,000, a substantial sum aimed at propelling early-stage projects to their next phase of development. Alongside financial backing, the programme provides high-quality impact training designed to equip entrepreneurs with the necessary skills and knowledge to navigate the complex landscape of social impact.

Moreover, the participants gain access to professional services that enhance their operational capabilities, infrastructure support that includes both digital platforms and specialised physical facilities, and a deeply embedded mentoring network. This multifaceted support system not only fosters immediate project growth but also ensures long-term sustainability and effectiveness.

Play

Among the ventures spotlighted is CIRC, an eco-conscious project aimed at tackling the fashion industry's waste dilemma. This initiative has developed a recycling technology that transforms blended polycotton textiles, a significant waste product, into reusable materials. This not only mitigates waste but also reduces the carbon footprint associated with the production of new textiles, marking a significant step towards sustainable fashion.

Play

Another groundbreaking effort, Mayani, involves a sustainable agri-fisheries platform in the Philippines, which enhances the economic stability and climate resilience of smallholder farmers and fisherfolk. By improving access to markets, offering climate-adaptive agricultural inputs, and facilitating better credit options, this platform ensures that agricultural stakeholders can thrive in an increasingly volatile climate scenario.

Play

Additionally, MYCL, a project utilising mycelium-based materials illustrates the programme's drive towards innovative material solutions. This venture uses mycelium as a natural adhesive to create eco-friendly composites for the fashion and automotive industries, providing a sustainable alternative to conventional materials. It also supports local economies in Indonesia by involving mushroom farmers in the production process, using agricultural waste as a resource.

Streamlining efforts for greater collective impact

Philanthropy Asia Summit 2024 also saw the launch of the Communities initiative, a novel collaboration model designed to streamline philanthropic efforts, unlock capital efficiently, and foster knowledge sharing among stakeholders. This initiative introduced three focused communities, each led by pioneering organisations committed to addressing pivotal global challenges.

The Blue Oceans community is dedicated to the conservation and sustainable utilisation of marine resources. It emphasises the crucial role of oceans and their ecosystems in Asia, aiming to deepen the connection between regional communities and their aquatic environments.

In the realm of agriculture and environmental conservation, the Sustainable Land Use community has been established. This group is set on advancing sustainable agricultural practices, land conservation, and biodiversity preservation through initiatives that are positive for nature.

Addressing educational disparities, the Holistic & Inclusive Education community focuses on bridging the education-skills gap. This community is committed to elevating the quality of education by enhancing educator capabilities, refining curricula, and incorporating innovative technologies to ensure all students have access to comprehensive educational opportunities.

These Communities are structured to reduce fragmentation, facilitate smoother collaborations, and lay the groundwork for successful philanthropic-private-public partnerships (PPPPs). Each community aligns its priorities with a shared systems-thinking and impact framework from the onset, aiming to multiply the effectiveness and reach of their initiatives.

As these programs roll out, they reflect a growing recognition of the need for systemic changes in how philanthropic efforts are coordinated and implemented. By integrating innovative platforms like Co-Axis, nurturing programs like Amplifier, and collaborative models like the Communities initiative, PAS 2024 sets a new precedent for how philanthropy can evolve into a more impactful, inclusive, and sustainable practice.

As these initiatives take shape, they not only promise to transform the landscape of impact and philanthropy in Asia but also serve as scalable models for global stakeholders aiming to address some of the most pressing challenges of our times.