Govt launches platform to match business funding with welfare projects
The government has launched a matching platform to connect private funding with social welfare projects, with the first round of proposals open until November 29. Projects must serve specific disadvantaged groups and cover designated themes, with funding provided directly by donors to organisations.
The government has launched a new platform to connect private-sector resources with social welfare projects, with the first round of proposals open to welfare organisations and social enterprises until November 29.
The “Co-prosper HK - Welfare Projects Matching Platform” aims to support more targeted initiatives for disadvantaged groups by linking potential funders with organisations developing community projects. The initiative follows the First Five-Year Plan, which calls for a more institutionalised model of poverty alleviation involving the government, business sector and community. The Policy Address also proposed a government-led matching platform to connect commercial resources with welfare projects.
A government spokesman said the platform would serve as a bridge by identifying target groups and priority themes before matching funders with welfare organisations and social enterprises. The two sides will then agree on the cooperation model and implementation details. Funding will be provided directly by the funder to the organisation proposing the project and will not be transferred through the platform.
For the first round, proposed projects should serve subdivided-unit households, single-parent families, elderly-only households and caregivers. Projects must also cover at least one of the nine specified themes, including respite support, emotional and health support, home improvement and safety, childcare, neighbourhood mutual support, digital inclusion and information empowerment, gerontechnology and care technology, active aging, or nutrition and dietary support.
Project proposals will be assessed by the Working Group on Co-prosper HK - Welfare Projects Matching Platform under the Commission on Targeted Poverty Alleviation. Organisations behind selected proposals will be invited to matching and networking sessions with potential funders, where they can refine their plans and discuss possible cooperation arrangements.
The working group is also inviting companies, family offices, charitable trusts and foundations to join the platform as funding partners.