Bulletin No. 2, 2015

* At the time of going to print, the ORKTS has set up a Sustainable Knowledge Transfer Project Fund (S-KPF) to support proven KPF practitioners to establish sustainable companies or social enterprises that will enable the projects to continue without KPF funding in subsequent years. What Is Impact Investing? Impact investing is a sub-category of socially responsible investment that aims at bringing about (measurable) positive social or environmental impact in addition to (measurable) financial gain. While socially responsible investing, as it is commonly understood, focuses on avoiding harm to society and the environment as a result of investment, impact investing actively seeks to make a positive contribution, such as investing in not-for-profit services to the poor, the elderly or minorities, or in clean energy enterprises. Way Forward Dr. Tsoi has hired the Hong Kong Productivity Council to assess the KPF and identify areas for improvement. One area is sustainability. ‘For the majority of projects, the impact dwindles and dies once funding is stopped,’ he observes. ‘The selection committee is faced with a constant dilemma—whether to continue support for successful projects at the expense of new projects or fund new projects at the expense of old ones that have made an impact. I believe that a possible solution may be found in the lessons offered by the overwhelming success of the Technology Start-up Support Scheme for Universities (TSSSU). I think we can consider giving professors and students a seed fund to start social enterprises that will sustain the impact of the projects long after the money has run out.’ TSSSU is a new initiative by the Innovation and Technology Commission (ITC) that encourages the funded institutions’ professors and students to start technology businesses and commercialize research products. Dr. Tsoi plans to recruit a consultant to help identify impact investors that may be interested in investing in the projects.* 6 Chinese University Bulletin No. 2, 2015