Family and Foundations – From Scholarship to Entrepreneurship, Evolving the Pathway to Greater Social Impact

“While scholarships have opened many doors, the invitation for this generation is to think more creatively about how we give, to move from one-time support to systemic change, from relief to restoration, from charity to entrepreneurship.”

Many Asian families and foundations like to fund traditional causes like education. While this is important and needed, the vision cannot end there. We need to move beyond the classroom into society because producing scholars alone will not solve society’s problems. We should diversify our philanthropy and investments into innovative vehicles that are addressing societal problems, while also raising the next generation of leaders with courage and integrity, who know how to work across lines of differences, and who are social entrepreneurs and social innovators.   

UNESCO’s 4 pillars of education: learning knowledge, learning skills, learning how to be, learning how to live in society. Our education system focuses too much on the first 2 pillars, and neglects the other 2, which is the root of several societal problems today. In addition to building knowledge and skills, we need to also build character and inner capacity. We should invest in individuals who are not only looking to build a better life for themselves, but who are committed to a mission beyond their own personal desires – those with a calling. When we empower them to look beyond themselves, and they do the same with others, it can create a rippling effect, resulting in a whole ecosystem of changemakers that is sustainable, systemic, and institutional.

This is not just about filling the gaps – this is about shifting the entire market system. Teaching a man to fish only is yesterday’s news (the first 2 pillars). Today, social entrepreneurs are revolutionizing the whole fishing industry. Philanthropy cannot be just about providing access it should also bring about long-term transformation. Social impact folks don’t like this term because they are unable to measure it. And that is precisely the point – not everything can be measured. The change that we most want to evoke is sometimes not measurable, because inner transformation is infinitely complex. 

Recipients of philanthropy and investment are always asked to innovate and think more creatively. On the same note, givers should also innovate their giving and think more creatively. What’s good for the goose is good for the gander. Together, goose and gander can evolve the pathway to greater social impact.