Social Enterprise Incubation
For 14 years, we have provided seed funding, business knowledge and professional mentors to young people who want to solve social problems through an entrepreneurial approach. This has led to the creation of more than 120 social enterprise teams across the country.
Translated from Thai · reviewed by the CF team
Good ideas for social good are not enough. A venture must have a business that can genuinely stand on its own for its social impact to be sustainable in the long term.
Many young people have ideas for solving social problems, but what they often lack is not ideas; it is seed funding, business knowledge and someone to review their work during the most vulnerable early stages. Thailand’s social enterprise ecosystem often has a gap in the middle: there are platforms for people with ideas only, and mainstream business acceleration programmes for start-ups focused solely on profit, but there is a lack of spaces designed for ventures that must pursue both business and social goals.
What we believe
We believe that financial sustainability is what makes social impact sustainable in turn. A social enterprise that closes within its first year or two can no longer create impact for anyone. Providing grants alone is therefore not the answer. What is more necessary is combining seed funding with intensive business skills development, including business planning, real-world market testing, financial management and systematic impact measurement.
From incubation to growth
Over the past 14 years, we have found that the challenges faced by social enterprises change as they mature. In the early stages, they need seed funding and foundational knowledge to get their businesses off the ground. But once a venture has moved beyond that initial stage, the challenge becomes the missing middle in funding: ventures are still too small for institutional investors, but too large for seed grants to meet their needs. This is why we have had to expand our support approach from “incubation” to include “growth acceleration”.
Young social entrepreneurs aged 35 or under from across the country. Although most applicants are still concentrated in Bangkok and its surrounding areas, the proportion of applicants from the North, Central, Northeast and South has gradually increased each year. The participating ventures address a wide range of social issues reflecting the country’s real challenges, including education, agriculture, health, the environment, finance, creating livelihoods for vulnerable groups, and intermediary organisations that support the social impact work of other organisations.
- 01 Incubation Programme—We recruit 15-20 teams of young entrepreneurs each year, selecting them through interviews and two rounds of presentations. Teams that pass the first round receive up to 80,000 baht in seed funding per team to test their ideas in the market for 3 months. We then select the 3-5 teams with the strongest results to enter the final round, where they receive additional funding of up to 250,000 baht and close support from professional mentors for a further 4-6 months. Across 14 cohorts, the programme has incubated 123 Champions.
- 02 Acceleration Programme—Launched in B.E. 2565 to address the missing middle in funding faced by many incubation programme alumni as their businesses began to grow beyond the start-up stage. Initially, it was designed to help them develop business plans to present to potential funders. In B.E. 2568, it was redesigned to pair ventures with specialist mentors who work directly to address each venture’s bottlenecks, such as marketing, finance or accounting systems.
Banpu Champions for Change (BC4C)
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Choose the question that fits your role. Answers are summarised from our own records of the work, and you can talk to the CF team from any card.
What change does this work create, and how do we know it is effective?
BC4C incubated 123 teams across 14 cohorts, with 80% still operating at least 3 years after completing the programme and 49% of survey respondents reporting positive net profits for 2 consecutive years.
BC4C supports social enterprises from their early stages through to growth by providing funding, business knowledge and mentors. Evaluation findings reflect both survival and financial sustainability, but these figures should be considered alongside the limitations of the evaluation. This Issue ProjectBanpu Champions for Change (BC4C)
- Banpu Champions for Change (BC4C) incubated 123 teams across 14 cohorts. 80% continued operating as social enterprises for at least 3 years after completing the programme, and 49% of survey respondents reported positive net profits for 2 consecutive years. The Champions' work reached a total of more than 1.4 million people. Update14 years, 123 Champions, 1.4 million lives: BC4C’s impact at a glance
- A B.E. 2569 report found that the group receiving second-round funding had a survival rate of 86%, compared with 75% in the first-round group, and financial sustainability of 60%, compared with 36%. UpdateSecond-round funding makes a difference: consistently higher survival and financial sustainability rates
- A survey of the previous growth acceleration programme found that enterprises improved their planning and organisational capacity development, but connections to funding sources remained a gap. The programme therefore changed its format in B.E. 2568 to match mentors with enterprises to address their specific challenges. UpdateThe first three years of the accelerator programme: clearer business plans, but funding remains out of reach UpdateRedesigning the growth accelerator: from business plans to hands-on mentoring
- Impact figures come from several evaluation reports using different samples and time periods. Enterprise revenue or profit is only indirect evidence, so it should not be concluded that these outcomes were caused by the programme alone. ProjectBanpu Champions for Change (BC4C) UpdateAlumni returns accelerate growth: as Toolmorrow and a-chieve take a leap forward
How was this work carried out, and what lessons can be applied going forward?
We start with seed funding, market testing and business skills development, then build on this with specialised mentors. The key lesson is that helping with planning alone may not be enough if ventures cannot put their plans into practice.
Our approach divides support according to growth stage, from market testing and building business foundations to addressing specific bottlenecks as ventures grow. This Issue
- Banpu Champions for Change (BC4C) invites teams to join its incubation programme. It starts with workshops on business models, impact goals and pitching. Teams that pass the first round receive seed funding to test the market for 3 months, along with advice on business plans, basic finance and marketing. Teams that pass the final round receive additional funding and ongoing support from professional mentors. ProjectBanpu Champions for Change (BC4C)
- After finding that ventures from the previous growth acceleration programme still struggled to connect with funding sources, and that some faced difficulties putting their plans into practice, we adjusted the model in B.E. 2568 to match them with experts who directly address issues in marketing, finance or operating systems. UpdateThe first three years of the accelerator programme: clearer business plans, but funding remains out of reach UpdateRedesigning the growth accelerator: from business plans to hands-on mentoring
- A lesson from the pilot round was that coaching should involve hands-on support, meetings and in-depth needs assessments, field visits tailored to the context, and reviews of goals along the way. UpdateLatest lessons: From an alumni network to issue-based impact clusters and in-depth mentoring
- Another lesson was that clearly defining impact goals and having baseline data before starting helps improve the tracking and verification of results. UpdateWhat we learned from the first 6 cohorts: seed funding, knowledge, and precise measurement are key to survival
What kinds of areas is this approach suitable for, and what is needed to get started in our area?
This approach works with young social entrepreneurs from across the country. The number of applicants from different regions has increased, but no conditions or model for starting the programme in a new area have been recorded.
This approach aims to support young social entrepreneurs from across the country. Most applicants are concentrated in Bangkok and its surrounding areas, while the proportion from different regions has increased. This Issue
- Banpu Champions for Change (BC4C) works with enterprises covering a range of issues, including education, agriculture, health, the environment, finance, and livelihood creation for vulnerable groups. This means there are diverse examples of entrepreneurs and areas of work. This Issue
- Starting this approach requires more than funding. Our materials refer to seed funding, business knowledge, specialist mentors, and connections with ecosystem partners. This Issue
- The incubation programme involves workshops, selection, real-market testing, and one-to-one mentoring. The growth acceleration programme uses a needs assessment to match experts with the enterprises’ specific challenges. ProjectBanpu Champions for Change (BC4C) UpdateRedesigning the growth accelerator: from business plans to hands-on mentoring
- One example of work in a local area is matching Plearnprai Organic with a mentor in branding and marketing. The enterprise supports organic farmers in Chaiyaphum Province. UpdatePlearnprai Organic: Matching a branding mentor with organic farmers in Chaiyaphum to reach new customers
We have not yet recorded specific conditions for starting this model in a new area, such as the local-level budget or the necessary partner structure.
What methods or tools can we start using straight away?
You can start by testing the market in practice alongside a business plan, financial planning and impact goals, then matching the venture with a mentor who can help solve specific problems.
The tools we use include foundational learning through workshops, testing with the real market, and matching ventures with experts based on their needs. ProjectBanpu Champions for Change (BC4C) UpdateRedesigning the growth accelerator: from business plans to hands-on mentoring
- Banpu Champions for Change (BC4C) uses workshops to build a foundation in business models, impact goals and presentation skills. Teams that pass the first round then test the market in practice for 3 months, with advice on business plans, basic finance and marketing. ProjectBanpu Champions for Change (BC4C)
- For ventures that have already grown, the in-depth mentoring process begins by assessing needs and setting goals, then matching the venture with a specialist. Progress is followed up every two weeks throughout the 3-month process. UpdateRedesigning the growth accelerator: from business plans to hands-on mentoring
- Examples of tools developed through practical work include a content framework for BNC Group's media planning and a systematic accounting document management tool for Attalak. UpdateBNC Group: Strengthening online marketing strategy to reach the adult children of older people UpdateAttalak: Building a strong financial accounting system for long-term growth
- A lesson that can be applied is to have experts help solve problems directly, rather than merely provide a framework, and to review goals periodically so that support continues to meet the venture's needs. UpdateLatest lessons: From an alumni network to issue-based impact clusters and in-depth mentoring
How does this work connect to systemic issues, and what kind of collaboration is needed?
This work addresses the gap between seed funding and growth-stage finance by combining funding with business development, and seeks mentors, investors, ecosystem partners, as well as market and media channels.
We see a gap in the social enterprise support system between spaces for people with only an idea and business acceleration programmes focused on profit. There is also a gap in medium-sized funding for enterprises that have moved beyond the start-up stage. This Issue UpdateLaunch of the Acceleration Program to address the missing middle funding gap
- Banpu Champions for Change (BC4C) began by combining seed funding with business knowledge, because we believe enterprises need to be financially viable for their social impact to continue. Grants alone are therefore not enough. This Issue
- A lesson from conventional growth acceleration programmes is that developing a business plan helps enterprises plan more clearly, but connections to funding sources have not been effective, and some enterprises still face constraints when putting their plans into practice. UpdateThe first three years of the accelerator programme: clearer business plans, but funding remains out of reach
- We are looking for mentors in finance, marketing, operations and law; funding partners and investors interested in growth-stage enterprises; organisations that can co-design strategic CSR programmes; and ecosystem partners. This Issue
- We also need market and media channels to help enterprises reach a wider range of customers and consumers. This Issue
For social enterprises to survive and genuinely grow, they need a diverse range of partners, not just funding.
- Mentors and specialists in areas including finance, marketing, operations and law, who are ready to work closely with young entrepreneurs.
- Funding partners and investors interested in social enterprises at the growth stage, where funding is much scarcer than seed funding.
- Organisations and companies interested in co-designing strategic CSR programmes with measurable impact, rather than simply making donations.
- Partners across the social enterprise ecosystem, including government agencies, associations and other incubation programmes, to refer ventures and connect resources.
- Market access and media channels to raise awareness and create business opportunities that help social enterprises reach more customers and consumers.