Tharman stresses need for companies to balance profits with doing good

CNA

Singapore’s Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam announced the launch of the Sustainable Impact Accelerator, an initiative by raiSE and Quest Ventures to build capabilities for social enterprises.

“raiSE has partnered with Quest Ventures, which is an established VC player in Singapore. raiSE provides the seed and early-stage grants, and Quest puts the enterprises on its accelerator programme, which means providing the curriculum, the tools and very importantly, giving them access to a network of investors so there is the potential for further funding,” Shanmugaratnam said.

He added that there is a need for companies to balance profits with doing good, amid a widening social gap exacerbated by the COVID-19 pandemic and conflict.

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