‘Ecosystem approach’ needed to tackle Asia’s interconnected challenges: Temasek Foundation CEO
Philanthropic capital can help get pilot projects off the ground, but partnerships with governments and the private sector are needed to take them to scale, said CEO Ng Boon Heong.
Temasek Foundation CEO Ng Boon Heong emphasized the need for a collaborative "ecosystem approach" to address interconnected challenges in Asia, such as climate change and public health. While philanthropic capital can initiate pilot projects, partnerships with governments and the private sector are crucial for scaling these initiatives.
Ng highlighted that the foundation works with various stakeholders, deploying philanthropic capital as "upfront risk capital" to support sustainability and health innovations. Since 2016, 88 innovations funded by the foundation have attracted more than 10 times the initial investment in follow-on funding. The foundation runs innovation challenges across Singapore, Indonesia, Japan, Vietnam, and China, helping companies scale their innovations into global markets.
Ng stressed that capital alone is insufficient; a strong partnership among public, private, people, and philanthropic sectors is essential for success in different markets.
Written by urgent.news from Channel News Asia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
