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Government funding to help social enterprises in Singapore expand
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Government funding will be available from January next year to support promising social enterprises in their expansion plans, reported Channel NewsAsia (CNA).
This is in addition to the existing ComCare Enterprise Fund (CEF), which has been providing seed funding for startup social enterprises that provide employment and training for poor Singaporeans.
According to Halimah Yacob, Minister of State for Community Development, Youth and Sports (MCYS), about S$10M (US$7.7M) has been granted to support 80 social enterprises so far. About 1,600 Singaporeans have benefited from the work of these social enterprises.
MCYS will also introduce a new category of CEF funding next year for schools to educate students on social entrepreneurship. The money, which will target 70 schools in three years, would be used to fund youth-initiated social entrepreneurship projects.
A study of Singapore youths in 2009 has found that they are increasingly more willing to contribute to society. |
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