1. 1
Implementation of the
Comcare Enterprise
Fund in Singapore
Caryn . Joshua . Junxian . WeeMeng . YiLing

2. 2
Scenario
As Minister of Community Development, Youth
and Sports, Dr. Vivian Balakrishnan ponders over
whether to approve the
Comcare Enterprise Fund (CEF)

3. 3
Agenda
Descriptive
Singapore’s Existing Social Safety Net
Social Enterprises
Analysis
Budget
Awareness
What has been implemented

4. 4
Singapore’s Existing Social Net
•Average monthly incomes rose by
3.2% in 2006
•Lowest income group’s real income has
fallen (when compared to 2000), and
real average monthly income per
member in 2006 is only $300.
•Gini Coefficient risen to 0.472 in 2006.
•Anti-welfare welfare
•VWOs can choose to set up Social
Enterprises.

5. 5
What are Social Enterprises (SEs)
Definition:
A business not defined by its legal status but by its nature: its social aims and
outcomes, the basis on which its social mission is embedded in its structure
and governance, and the way it uses the profits it generates through its
trading activities
Profits from SEs are typically reinvested into the firm or into the community to
further these aims.
Focus on triple bottom line reporting
At least half their income is derived from trading rather than from subsidy or
donations.

6. 6
Ideal Social Enterprise
• A continuous activity producing goods and/or selling services;
• A high degree of autonomy;
• A significant level of economic risk;
• A minimum amount of paid work;
• An explicit aim to benefit the community;
• An initiative launched by a group of citizens;
• A decision-making power not based on capital ownership;
• A participatory nature, which involves the persons affected by the
activity;
• Limited profit distribution.

7. 7
Benefits of Social Enterprise
• Social Enterprises in Singapore
• Benefits of Social Enterprise
• Earn Profits
• Employment
• Raise Funds

8. 8
Difficulties in implementing SEs
Problems that Singapore would face when implementing SEs.
Mindset towards SEs
• Charities are acts of altruism
• Lack of transparency of these “businesses”
Divergence of expectations
• Differing target groups to help
Infancy of SEs
• Lack of financial aid
• Lack of information

9. 9
Financing of the CEF
• Amount of funding: $500 million
• Purpose
• Seed Fund
• Subsidies

10. 10
Effect on Budget
Operating Revenue 28.85
Total Expenditure (29.68)
Of which 0.25
Primary Surplus / contributed to
(0.83)
(Deficit) COMCARE
Special Transfers (0.82)
Net Investment
1.86
Income DIstribution
Overall Budget Surplus 0.21

11. 11
Awareness
• Providing funding alone is not enough.
• Public is one of the main stakeholders of Social
Enterprises.
• Bottleneck situation with many SEs competing without
any public support.
• Awareness programs
• Separate wing under Ministry of Community Development,
Youth and Sports.
• Networking programs for SEs to congregate.
• Exposure in mass media, such as documentaries or
websites.

12. 12
Which Charities
• Not all models of social enterprises can be viable
• Viable: able to survive without any help from the government
• Singapore still in infancy stage
• Service provided
• Depends on social mission that the SE adopts
• NKF succeeded because service provided was in demand
• SEs that engage primarily in retail may not survive
• Packaging
• Needs to present itself favourably in order to garner support

13. 13
Conclusion
In light of Singapore’s aims of providing “anti-welfare welfare,”
he should implement CEF.
However, funding of SEs in itself is not exhaustive.
In addition, he has to promote awareness
of SEs to the general public.

14. 14
What Has Been Implemented:
Comcare Enterprise Fund
• Investing in the business of social change
• Enable the needy to be more self-reliant
• Criteria:
• Business proposition
• Business model and social impact
• Driven by committed team
• Experience and mindset
• Aims must be aligned with MCYS’s aims
• Arts, cultural, health, environment missions are not funded
• Faith-based organisations must not exclude others
• Grant characteristics
• Seed grant
• 1-3 year contract
• 80% of project cost or $300k, whichever is lower

15. 15
Social Innovation Park
Founded by Miss Penny Low (MP Pasir Ris – Punggol GRC)
Consists of:
Social Enterprise Hub
Youth and Talent Hub
3 main objectives
Enable aspiring social entrepreneurs to showcase their products and exchange ideas
Platform for them to attract angels, venture capitalists
Platform to raise awareness and discussion on key economic issues facing young
entrepreneurs

16. 16
Thank You
Questions and Answers