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AVPN creates philanthropic Digital Transformation Fund to help underserved and impacted communities in Korea, with a USD1 million grant from Google.org

10 November 2021

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This fund will go towards supporting digital transformation projects at scale, in partnership with local nonprofits, as part of post COVID-19 recovery

Supported by Google.org, Google’s philanthropy, AVPN, and MYSC (acting as AVPN’s representative in Korea) have come together to launch philanthropic digital transformation funds of $1,000,000 USD.

Announced today at the AVPN Northeast Asia Social Investment Summit 2021 by Naina Batra, CEO of AVPN, and Harrison Kim, Country Director for Google Korea, the funds will be targeted at nonprofit organizations with charitable projects that support underserved communities, including small and medium business owners, job seekers affected by Covid-19, etc. and looking to reskill for the new digital economy. In addition to the grant funding, these nonprofit organizations may be considered to receive technical support or in-kind support from Google.org. AVPN will also receive $500,000 USD in donated Search ads from Google.org to raise awareness of our work, share resources with the public, and more. The donation will be administered through the AVPN Google Ad account and will be applied to the marketing campaigns for the grantees and the fund.

Building a philanthropic roadmap for Asia

Looking forward, AVPN will be working with member organizations to explore philanthropic and pooled funds that will tackle other critical social issues. AVPN’s presence on the ground in 12 Asian markets, and direct support in 18 markets, empowers the network to find and fund under-supported social impact opportunities. This is especially valuable while our members face travel restrictions during the pandemic. “The potential for collaborative philanthropy in Asia is immense,” says Naina Subberwal Batra, Chairperson and CEO of AVPN. “Philanthropic collaboratives are in a unique position to pool resources from like-minded stakeholders. No one organization can achieve impact at scale – partnering with unusual allies from across the social investor ecosystem reveals opportunities for delivering greater impact in innovative ways.”

The Vision for the Pooled Fund – through the Eyes of the Funders

Commenting on Google.org’s support, KyoungHoon Harrison Kim, Country Director of Google Korea, added, “Small businesses are at the heart of every country’s economy and community. The impact of COVID-19 has reinforced the urgency of supporting SMEs and other impacted communities with their digitalization. With this Google.org funding, we are proud to support AVPN as they work with local nonprofits to help local businesses and impacted job seekers from underserved communities adapt and succeed for the sustainable future.” 

Scaling impact for the Asian Decade of social investment

By supporting impacted small and medium business owners, job seekers looking to reskill, and other impacted communities, AVPN hopes to demonstrate the value of philanthropic support  – and how it can be mobilized for proven interventions at scale and pace. The focus on digital transformation aims to showcase how technology, including artificial intelligence (AI), can be used to achieve social impact for the most impacted groups.

Many communities across Asia have been affected by unemployment during Covid-19. As we adapt to working and learning from home, the new digital economy is empowering livelihoods and businesses to keep contributing. If we are to build back better and tackle the long shadow of Covid-19, providing avenues that support entrepreneurship and new opportunities are not only critical, they provide a source of hope and optimism for the future.

With three funds now in operation within six months, and plans to open up additional single-purpose and pooled philanthropic funds to support other critical areas of social need, AVPN continues to find innovative ways to move capital towards impact.

For more details about the Digital Transformation Fund, please visit this link.

Media Contacts

Sarah Lewis
Communications, Marketing & Events Director, AVPN
+65 8318 3164
sarah.lewis@avpn.asia
Reema D’Souza
Content Marketing Manager, AVPN
+91 99301 02598
reema.dsouza@avpn.asia

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We see social investment as a continuum that encompasses everything from philanthropy and venture philanthropy to impact investing, CSR and sustainable investment. We call this the “Continuum of Capital”.

We see social investment as a continuum that encompasses everything from philanthropy and venture philanthropy to impact investing, CSR and sustainable investment. We call this the “Continuum of Capital”.

©2021 Asian Venture Philanthropy Network | AVPN is registered in Singapore as a charity (UEN 201016116M)

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