Abstract
Impact investing and social entrepreneurship have garnered increasing traction in Southeast Asia as means to drive inclusive growth aligned with Sustainable Development Goals. However, the COVID-19 pandemic has exacerbated inequalities and vulnerabilities across marginalized communities, creating pressing needs for market-based innovations catering to those left behind. This study undertakes an exploratory study to assess how the recovery trajectory is reshaping impact capital and social enterprise ecosystems to promote resilient, equitable development post-pandemic. Using a qualitative methodology, semi-structured interviews were conducted with 15 impact investors and social entrepreneurs operating across Indonesia, Vietnam, Thailand, Malaysia, Philippines and Singapore. Interview transcripts were coded through descriptive thematic analysis approach to map changing investor priorities, pivot in social enterprise models along with persistent and emerging barriers. Key trends identified include deepening digital divide driving focus on edtech and telemedicine enterprises, rising hunger and income precarity accelerating food security and livelihood-linked innovations. However, concerns remain around measuring real-world impact, human capital gaps and policy constraints regarding foreign investment and public procurement. The analysis informs recommendations including outcome-based blended finance vehicles, promotion of sustainable agriculture value chains, and streamlining cross-border investment flows for the ecosystem to drive recovery aligned with ASEAN sustainable development commitments.
Published Version
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