Organizations are selected through public calls for interest conducted by each fund distribution organization and benefit from both funding and evaluation support. Each organization is subject to an annual social impact evaluation of its public interest activities, focusing on the degree of achievement of intended results. As of April 2024, there were 1,170 participating organizations with average grants of ¥14,380,000 (about US$92,000). 28 Example projects include support for community interaction with people with developmental and intellectual disabilities and support for regional development by cultivating agricultural leaders. SIIF works within this structure as a distribution organization. It received dormant funds to deploy as grants in three tranches in 2019, 2020, and 2021 (see Figure I). The focus was on supporting social businesses that are the core of regional communities by revitalizing various unused resources in the region to address the declining vitality of regional communities due to population decline and the progression of an aging society with a low birthrate. Figure I: SIIF Development of Funds 2019-21
FY2019
FY2020
FY2021
Regional Revitalization Social Business Growth Support Project Support impact entrepreneurs to create and promote new business models Supported six organisations, totaling about ¥200 million
Solving Regional Issues through Collective Impact Establishment and nurturing of intermediary support organisations that solve regional issues through collective impact methods Supported four organisations, totaling about ¥180 million
Regional Impact Fund Establishment and Manage- ment Support Project Support for the establishment and management of impact funds in local regions Support for approximately three to four funds, totaling about ¥250 million
In 2019, SIIF’s Regional Revitalization Social Business Growth Support Project was launched to support six companies working to solve various social issues facing the region. 29 They aimed to support impact entrepreneurs to create and promote new business models. The total funds deployed were approximately ¥278 million (roughly US$1.78 million). Their outcome focus was on achieving sustainable social and economic benefits with a clear methodology of social impact assessment.
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Ten Years in the Making
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