Global connections, local change: Social Enterprise Summit returns with focus on collaboration
Hong Kong Free Press
Social enterprises, which make up 3% of all businesses globally, span nearly all sectors, including arts, healthcare, poverty alleviation and sustainability. By prioritising purpose and impact over profit, these enterprises bridge gaps often left by traditional systems, which can leave vulnerable communities behind.
Despite their positive social and economic contributions, social enterprises remain under-resourced—both in Hong Kong and globally. According to the Schwab Foundation’s Global Alliance for Social Entrepreneurship, 10 million social enterprises worldwide generate $2 trillion in annual revenue and create over 200 million jobs. However, only one in five countries has legal frameworks or legislation specifically supporting social enterprises.
Returning for its 17th edition, the three-day Social Enterprise Summit (SES) 2024 adopts the theme “Connecting Global Experience, Strengthening Local Partnerships” to explore how cross-sector and cross-regional collaboration can address complex social issues.
Registration for SES 2024 is open to the public via the official website, with tickets priced from HK$150 to HK$500 and several sessions available online for free.
Rebecca Choy Yung, co-chair of the SES organising committee, notes that Hong Kong’s social enterprise landscape has steadily evolved over the past 20 years. As the economic and social value of social enterprises becomes more widely recognised, stakeholders—including entrepreneurs, NGOs, government bodies, investors, and academics—are increasingly engaged.
“Social enterprises in Hong Kong are tackling a range of social and environmental challenges, from elder care and wellness to urban issues like waste and recycling,” says Yung. “Social innovation is the way forward in the 21st century, with the purpose of improving the lives of individuals and communities.”
“As we face complex social challenges, it’s essential to adopt fresh mindsets and build new systems, models and methods for social innovation. This requires collaboration among citizens, corporations, social enterprises, NGOs and governments, acting both globally and locally.”
Research by British Council Hong Kong, in collaboration with SES, estimates that roughly 2,500 social enterprises operate in Hong Kong, with many founded in the past four years and now entering a scaling phase. These organisations work across all districts of Hong Kong and are typically small, with fewer than 10 employees.
When surveyed, Hong Kong social enterprises cited customer acquisition and market development as their biggest challenges, followed by limited access to financial support such as grants and donations. Social unrest and the challenges of the pandemic have also affected social enterprises, prompting many to pivot their business models to remain operational.
SES plays a vital role in fostering a continuous exchange of ideas, creating a landscape where new solutions can emerge and flourish. SES 2024 kickstarted in October with a masterclass hosted alongside the Consulate General of the Czech Republic in Hong Kong. The event explored how social innovation, sustainability, and technology can shape the cities’ futures and drive further social change.
“The forum strengthened connections between local and Czech stakeholders,” says Yung. “Many participants left feeling inspired and are now exploring collaboration opportunities with their Czech counterparts,” she adds, noting that this aligns with the year’s theme of “Connecting Global Experience, Strengthening Local Partnerships.”
SES success stories
“Several success stories have emerged directly from SES,” Yung says. “One of our young social entrepreneurs, Luke Tam, was inspired by Ryo Yamazaki, a Japanese speaker at the 2015 SES, on ‘community design.’ Luke then founded ‘Kai Fong Tour’ in 2016, a social enterprise empowering local residents to act as docents for sustainable tourism.”
Another example is the establishment of B Lab (HK & Macau) in 2020 by business and social entrepreneurs after B Corp movement advocates spoke at SES events. The B Corp movement was founded in 2006, and now includes over 6,000 Certified B Corps across more than 80 countries, using business as a force for an inclusive, sustainable economy.
Yung, a successful business entrepreneur turned social entrepreneur, highlights government initiatives that have recently strengthened Hong Kong’s social innovation sector. These include the Social Innovation and Entrepreneurship Development Fund (SIE Fund) and the Enhancing Self-Reliance Through District Partnership Programme, which offers seed grants of up to HK$3 million.
In a world facing pressing social issues, social entrepreneurship is a beacon of hope and innovation… We believe that social innovation can best flourish across various community sectors through hands-on practice and real-world application.”
Rebecca Choy Yung
“Hong Kong’s robust financial ecosystem and entrepreneurial spirit create an ideal environment for social enterprises to thrive,” Yung says. “There is growing recognition of the importance of social impact among businesses, government, and civil society.”
She points to recent HKEX regulations requiring public-listed companies to publish annual ESG reports, a step toward greater corporate accountability. Yung also notes that technological advancements, especially in AI, digital platforms, and data analytics, enhance Hong Kong’s ability to address social challenges more effectively.
This year’s SES programme features a session titled “AI and Social Change: Reflecting on the Role of AI to Do Good,” examining AI’s dual role as both a powerful tool and a potential risk in addressing societal issues.
Social Enterprise Summit 2024 highlights
The Social Enterprise Summit, organised by the Hong Kong Social Entrepreneurship Forum with support from the Home and Youth Affairs Bureau and over 20 NGOs, was founded in 2008. Each year, it gathers stakeholders from Hong Kong, China, and beyond to foster cross-sector collaboration and leverage insights from global experts to develop social innovation in Hong Kong.
This year’s event, which runs from 21 to 23 November 2024 at HKCEC and HKEX Connect Hall, features over 60 experts, scholars, and business representatives for talks, networking sessions, and community engagement programmes to nurture Hong Kong’s social enterprise landscape.
Keynote speakers on the first day (21 November) include Dr Francois Bonnici, director of the Schwab Foundation for Social Entrepreneurship, and Chavalit Frederick Tsao, chairman of Tsao Pao Chee and the Association for Wellbeing Economy. Bonnici and Tsao will lead a session on “How Social Entrepreneurship Brings About a Better World, with Less Poverty, More Equity, Enhanced Wellbeing, and a Sense of Hope for All.”
The “Dialogue+” session will feature Ho Kai-ming, undersecretary for Labour and Welfare, discussing poverty alleviation and community-building policies, including community living rooms. Sector pioneers will also share their experiences applying innovative thinking in their fields.
On day two (22 November), sessions will cover collaborative placemaking in the Greater Bay Area, combating elderly loneliness, and AI’s role in fostering social change. The day will conclude with a fireside chat on community engagement experiences led by Luke Tam of Kai Fong Tour.
The future of social innovation in Hong Kong
While Hong Kong’s social innovation sector has matured significantly in recent years, challenges remain.
“Many social enterprises lack refinement in their business models and suffer from limited capital,” says Yung. “Social entrepreneurs in Hong Kong also struggle with limited partnership opportunities.”
In response, SES has introduced ‘SES Change for Impact 2024,’ a new session on day three (23 November) at HKEX Connect Hall.
“Our partnership with HKEX through our Community Programme has been ongoing for years,” says Yung. “This session will feature over 20 emerging social innovators presenting their missions to funders, family foundations, institutional investors, and more. It’s another step forward in building cross-sector partnerships and highlights the growing interest from businesses and impact investors in social innovation.”
Since 2014, SES has organised nearly 100 Community Programme events to expand engagement beyond conference rooms.
“In a world facing pressing social issues, social entrepreneurship is a beacon of hope and innovation,” says Yung. “We believe that social innovation can best flourish across various community sectors through hands-on practice and real-world application.”
The Social Enterprise Summit runs from November 21-23, 2024.
- Event: Social Enterprise Summit 2024 International Symposium.
- Theme: Connecting Global Experience, Strengthening Local Partnerships.
- Date: Nov 21–23, 2024.
- Format: In-person (hybrid); online participation available for Day 1.
- Venue: HKCEC and HKEX Connect Hall.
- International Symposium pass (regular): HK$500.
- International Symposium pass (seniors/full-time students): HK$150.
- Details & registration: https://bit.ly/SES2024Reg