EVEN small-scale businesses can make a big different in society as shown in the recent success of six winning enterprises across Asia, including the Philippines, feted in the inaugural IIX-N-Peace Innovation Challenge 2015.
Innovative solutions to social challenges can come from anywhere, and no longer from just traditional actors, such as governments, nongovernmental organizations or development agencies.
FOUR winning Philippine-based social enterprises (SEs) would be needing a total capital infusion of P37.8 million to pursue their growth plan in the coming years.
The Impact Accelerator™ program in the Philippines, operated by Impact Investment Exchange Asia (IIX), concludes this week with an Impact Showcase of four winning Social Enterprises (SEs).
K.K.R. teamed up with Impact Investment Exchange Asia, which specializes in so-called impact investment, where social returns are accounted for in addition to financial benefits. K.K.R. provided technical assistance with financial planning and steered Glovax’s chief executive, Giovanni Alingog, toward getting a loan rather than raising equity and diluting the ownership.
KKR’s maiden Philippine venture was done in partnership with Impact Investment Exchange Asia (IIX) and non-profit sister-firm Shujog, with all three providing technical assistance so Glovax could tap long-term funding for its operations.
Glovax is a fully integrated vaccine company in the Philippines that imports, distributes, and retails vaccines at affordable rates to low-to-middle-income Filipinos.
Giovanni Alingog, 41, is not your ordinary entrepreneur.
In 2003, he convinced his pediatrician wife Geraldine Quijano Alingog to sell their wedding gifts and, with the P80,000 proceeds, he started distributing vaccines.