Innovation in Asian Philanthropy:Entrepreneurial Social Finance in Asia
Philanthropy is growing rapidly in Asia. The number of high net worth individuals has risen to 3.37 million, overtaking the number of wealthy people in either North America or Europe. However, 1.63 billion people in the region live on less than US $2 a day, so there is a vital role for philanthropists to play.
Innovation in Asian Philanthropy: Entrepreneurial Social Finance in Asia, is based on 40 indepth interviews with people who have founded or are managing philanthropic organisations and outlines trends and innovations in Asian philanthropy. Conducted by the Asia Centre for Social Entrepreneurship and Philanthropy at Singapore University, the report gives examples of entrepreneurial philanthropy including the Dasra Giving Circles, which have generated funding of over $3m from individuals and focus on areas such as education of girls, child malnutrition and youth employment.
The report also features profiles of strategic philanthropy such as the Zuellig Family Foundation, which focuses on improving access to health in the Philippines and the Community Foundation of Singapore, which manages a $7.2m education endowment on behalf of the former President of Singapore. It looks at the philanthropy ecosystem in Asia with sections on the China Foundation Center and Thailand’s Social Enterprise Office, looking at issues such as donor collaboration and brokerage.
In their foreword to the report, Thierry Lombard and Karin Jestin of the Fondation Lombard Odier say: “We hope it will inspire donors and impact investors all around the world to dare [to] engage, creatively and innovatively, to the benefit of society.”