Banpu Champions for Change (BC4C)
The flagship CSR project of Banpu Public Company Limited, implemented by ChangeFusion continuously since B.E. 2554. It has incubated 123 teams of social entrepreneurs across 14 cohorts and, since B.E. 2565, has worked to fill the funding gap and help alumni grow further through its Acceleration Program.
Translated from Thai · reviewed by the CF team
Incubate social enterprises with seed funding and business knowledge, then stay alongside them until they can grow independently.
Starting in B.E. 2554
Banpu believes that sustainable economic growth must go hand in hand with positive social and environmental impact. It therefore established Banpu Champions for Change (BC4C) with ChangeFusion in B.E. 2554 to provide seed funding and incubate people with ideas for solving social problems, helping them develop into enterprises where business and impact grow together sustainably. The two-round funding structure used today began to take shape from cohort 3 onwards (cohorts 1–2 did not yet divide funding into two rounds).
Adapting based on 14 years of learning
Along the way, the project has adapted several times based on lessons from previous cohorts. In B.E. 2558, it raised the maximum applicant age from 30 to 35 after finding that applicants with some work experience had higher business survival rates than recent graduates. That same year, Ma:D joined ChangeFusion as a project co-ordinator and became an important driving force in bringing alumni together as a social enterprise community. In B.E. 2563, the project paused for a year due to COVID-19, before resuming in B.E. 2564 with seed funding increased to 80,000 baht and second-round funding set at 250,000 baht.
From incubation to growth
After a decade of running the incubation programme, the team observed that many alumni had grown beyond the start-up stage but remained stuck in the missing middle: they had tangible revenue and growth but were still too small for mainstream institutional investors. The Acceleration Program therefore began in B.E. 2565 to help them prepare in finance, governance and impact communication, enabling enterprises to connect more effectively with funding sources and strategic partners. In B.E. 2568, the programme changed its format again, moving from business plan development to matching expert mentors who work directly on specific bottlenecks facing each enterprise.
Incubation Program
Each year, 15–20 teams are invited to apply. The programme begins with workshops covering business models, impact goals and presentation skills. Then 7–10 teams are selected for the first round and receive up to 80,000 baht each in seed funding to test their ideas in the market over 3 months, along with advice on business plans, basic finance and marketing. The 3–5 teams with the strongest results are then selected for the final round, receiving up to 250,000 baht in additional funding and close support from professional mentors for a further 4–6 months, covering social impact measurement and basic accounting.
Acceleration Program
From B.E. 2565–2567, enterprises were selected if they had annual revenue of at least 1 million baht or verifiable sales demonstrating that their businesses could continue. They entered a 3-month business plan development process, ending with a showcase event where they presented to funding sources and strategic partners. Since B.E. 2568, the format has changed to matching enterprises with specialist mentors who work directly on their individual bottlenecks for 3 months, following an in-depth needs assessment and progress reviews every two weeks.
Cumulative figures from 14 years of the incubation programme and preliminary outcomes from the Acceleration Program.
The impact figures above are cumulative data from 3 of the project’s social impact assessment reports: B.E. 2560 (covering cohorts 1–6), B.E. 2566 (covering cohorts 1–11) and B.E. 2569 (covering cohorts 1–14, including the Acceleration Program). Each report surveyed alumni from cohorts not previously surveyed and combined those findings with the results of earlier surveys.
The impact of the Champions’ own work is grouped into 7 main areas: education, agriculture, health, environment, livelihood creation, finance, and intermediary organisations/volunteers (updated from the original 6 areas used in the B.E. 2560 report: livelihoods, education, environment, psychology, health and people with disabilities).
Data note: The survival rate in each report was measured using different sample groups and time periods (the B.E. 2560 report measured 51 of 61 Champions from cohorts 1–6; B.E. 2566 measured all 99 Champions from cohorts 1–11; B.E. 2569 measured all 123 Champions from cohorts 1–14). The figure of "1.4 million people reached" appears unchanged in both the B.E. 2566 and B.E. 2569 reports, so it may be a cumulative figure that was not recalculated for each report. Check with ChangeFusion before citing it further to confirm whether this figure includes the work of cohorts 12–14.
Champions who progressed to the second funding round consistently had higher survival rates and financial sustainability than those who stopped after the first round, across all reports (B.E. 2569: survival, 86% versus 75%; financial sustainability, 60% versus 36%). This reflects the significant effect that more intensive and sustained support has on success rates.
Banpu Public Company Limited
The project’s main funder as its flagship CSR initiative, providing continuous support from B.E. 2554 to the present. Funding covers both seed grants for Champions and project operating costs.
ChangeFusion
The project’s main designer and implementer, responsible for selection, curriculum development, mentor matching and impact assessment over 14 years.
Ma:D
A project co-ordinator since B.E. 2558, playing an important role in connecting alumni and building a social enterprise community that continues to exchange knowledge and support one another today.
Professional mentor network
More than 100 experts from a range of professions have advised Champions throughout the project’s history. Some continue to serve as mentors in the Acceleration Program today.
Partners in the social enterprise ecosystem
Thai agencies and organisations working on social enterprise, including the Office of Social Enterprise Promotion (OSEP), Social Enterprise Thailand Association (SE Thailand), National Innovation Agency (NIA), SET Social Impact, Ashoka Thailand and G-Lab, recognise BC4C as one of the country’s longest-running social enterprise incubation programmes.
Building on 14 years of learning to provide more targeted support with clearer measurement of results.
The project plans to expand 3 main areas of work in the next phase, based on recommendations from the B.E. 2569 impact assessment report.
Involving alumni as mentors more systematically
The network of more than 100 enterprises built over 14 cohorts is the project’s most valuable asset. Organising a more formal role for experienced alumni to mentor newer cohorts will help ensure that their advice reflects the realities of social enterprises better than that of general consultants.
Grouping impact areas and developing shared indicators
Analysis of the 14 cohorts has made it clearer that groups of Champions work on similar impact issues. Developing shared indicators for each issue area will make it easier to compare results across enterprises and provide a reference point for future cohorts to set clear impact goals from the outset.
Expanding the in-depth mentoring model of the Acceleration Program
Based on lessons from the 3 pilot enterprises in B.E. 2568, which achieved good results through targeted, in-depth mentor matching, the project plans to extend this approach to other alumni groups and develop more systematic processes for mentor selection, orientation and progress reviews of goals.
28 entries
Everything the field team has recorded, newest first
How can we
help you?
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, of which 80% were still operating at least 3 years after completing the programme, and 49% of survey respondents had sustained positive net profits for 2 years.
We use both follow-up monitoring and impact assessment reports to track changes in ventures that have completed 14 cohorts of the incubation programme, from B.E. 2554 to B.E. 2568. There were 123 Champions, of which 80% continued operating for at least 3 years after completing the programme, and 49% of survey respondents had sustained positive net profits for 2 years. Update14 years, 123 Champions, 1.4 million lives: BC4C’s impact at a glance
The Champions’ work reached more than 1.4 million people in total and covered 7 areas: education, agriculture, health, the environment, livelihood creation, finance, and intermediary organisations/volunteers. Update14 years, 123 Champions, 1.4 million lives: BC4C’s impact at a glance Since B.E. 2565, the growth acceleration programme has supported a total of 20 ventures through business plan development and in-depth mentoring. Update14 years, 123 Champions, 1.4 million lives: BC4C’s impact at a glance
The assessment also found that Champions who advanced to the second funding round consistently had higher survival rates and financial sustainability than those who stopped after the first round. The B.E. 2569 report found survival rates of 86% compared with 75%, and financial sustainability rates of 60% compared with 36%. UpdateSecond-round funding makes a difference: consistently higher survival and financial sustainability rates However, each report uses different samples and time periods, and the figure of 1.4 million people reached may not be recalculated in every round. It should therefore be used with caution when making comparisons or claiming that the results were due to the programme alone. This Project
How was this work carried out, and what lessons can be applied going forward?
We began with seed funding, market testing and business knowledge, then built on this with mentors matched to each venture’s bottlenecks. The lesson is that developing a plan alone is not enough if implementation and sources of funding are still lacking.
We designed BC4C to support ventures at different stages of growth. It began with workshops on business models, impact goals and pitching. Teams selected for the programme then received seed funding to test their ideas in the real market, along with advice on business planning, finance and marketing. Teams with outstanding results could then receive a second round of funding and professional mentors. This Project
When alumni moved beyond the start-up stage, we launched a growth acceleration programme in B.E. 2565, using business plan development and pitching events to connect them with sources of funding and partners. UpdateLaunch of the Acceleration Program to address the missing middle funding gap The lesson from the first 3 years was that ventures developed clearer plans, but still struggled to connect with sources of funding, and some faced constraints in putting their plans into practice. UpdateThe first three years of the accelerator programme: clearer business plans, but funding remains out of reach
In B.E. 2568, we therefore shifted to in-depth needs assessments, matching ventures with specialist mentors to address their individual bottlenecks, and following up every two weeks over 3 months. UpdateRedesigning the growth accelerator: from business plans to hands-on mentoring Lessons from the pilot also showed that coaching should involve practical, hands-on support, with meetings and reviews of goals along the way—not just providing tools or documents. UpdateLatest lessons: From an alumni network to issue-based impact clusters and in-depth mentoring
What kinds of areas is this approach suitable for, and what is needed to get started in our area?
BC4C works with social enterprises in a range of contexts, using incubation and mentoring tailored to each enterprise’s needs. We have not yet recorded criteria for selecting locations or an approach for starting a project in a new area.
BC4C supports social enterprises that need to develop both their businesses and their social impact. Its approaches include early-stage incubation and acceleration for enterprises that have moved beyond the start-up stage. This Project Examples include enterprises in different contexts, such as Plearnprai Organic, which supports organic farmers in Chaiyaphum Province, and other pilot enterprises with marketing or financial needs. UpdatePlearnprai Organic: Matching a branding mentor with organic farmers in Chaiyaphum to reach new customers Our Updates also mention work in contexts across the country and in Bangkok. UpdateBNC Group: Strengthening online marketing strategy to reach the adult children of older people UpdateRedesigning the growth accelerator: from business plans to hands-on mentoring
The documented approach begins by assessing needs and setting goals for the enterprise, then matching it with an expert whose expertise fits those needs. They work together for 3 months, with progress reviewed every two weeks. UpdateRedesigning the growth accelerator: from business plans to hands-on mentoring This kind of support draws on a network of mentors and specialists. This Project
We have not yet recorded criteria for which types of areas are best suited, or the steps and resources needed to start this approach in a new area.
What methods or tools can we start using right away?
We use workshops on business models and impact, real-world market testing, and match businesses with specialist mentors based on their needs. We set goals and track progress.
The tools we use with early-stage businesses include introductory workshops on business models, impact goals and presentation skills. Teams that pass the selection process then test their products or services in the real market, with advice on business plans, basic finance and marketing. This Project
For businesses looking to grow further, we start with an in-depth needs assessment to identify bottlenecks and agree on goals with each business. We then match them with mentors whose expertise fits their needs and work together for 3 months, tracking progress every two weeks. UpdateRedesigning the growth accelerator: from business plans to hands-on mentoring For example, Plearnprai Organic was matched with mentors specialising in brand strategy and marketing, while Attalak worked with a team of experts in accounting, tax and law. UpdatePlearnprai Organic: Matching a branding mentor with organic farmers in Chaiyaphum to reach new customers UpdateAttalak: Building a strong financial accounting system for long-term growth
One lesson from this new approach is that support should address real problems directly, rather than offer only frameworks or tools. It should also involve meeting from the outset, visiting the business when needed and reviewing goals along the way. 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?
BC4C addresses social enterprises’ gaps in funding and knowledge, relying on mentors, investors, ecosystem partners and market access to help them continue to grow.
Social enterprises need to pursue their business and social goals together, but in the early stages they often lack seed funding, business knowledge and mentors. More mature enterprises still face a gap in medium-sized funding, which may not be met by either seed funding or institutional investors. IssueSocial Enterprise Incubation BC4C has therefore expanded from incubation to accelerating the growth of its alumni. This Project
A lesson from the growth acceleration programme during B.E. 2565–2567 was that, although enterprises developed clearer business plans, they still struggled to connect with funding sources, and some found it difficult to carry out their plans. UpdateThe first three years of the accelerator programme: clearer business plans, but funding remains out of reach We therefore adjusted the model in B.E. 2568 so that expert mentors work on the specific bottlenecks faced by each enterprise. UpdateRedesigning the growth accelerator: from business plans to hands-on mentoring
The collaborations the project is seeking include mentors and experts in finance, marketing, operations and law; funding partners and investors for enterprises in the growth stage; organisations that co-design strategic CSR; ecosystem partners; and market and media channels that help enterprises reach a wider customer base. IssueSocial Enterprise Incubation