Case Study | Edvanced
Exploring public and private funding opportunities for Edvanced
Written by Kenji Look, Juvenate Consultant
Edvanced is a social enterprise established in 2019 with the mission of creating digital solutions for NGOs and charities to maximise their social impact and to allow for these organisations to thrive in a digitalised world.
The client had previously applied for several funding schemes, but to no avail. There was a misalignment between the expectations of external funding organisations and the compatibility of Edvanced’s services among the countless social enterprises in Hong Kong. With the dire need of a sustainable source of funding to expand operations and to minimise the reliance on Edvanced's parent organisation, Juvenate played a key role in identifying suitable funds for Edvanced.
Firstly, by examining current funding schemes in Hong Kong, through various data touchpoints, Juvenate was tasked to pinpoint specific funds by carrying out the following tasks:
Macroenvironmental analysis – Identifying Hong Kong’s current funding landscape on a macro level, by researching the values and purposes of different organisations and evaluating the funding provided either synchronous to the rise of COVID-19 or a long-standing funding available to different organisations.
Comparative analysis – Exploring and contrasting public and private funding schemes through adopting a ranking system that evaluates schemes based on a variety of different categories, such as but not limited to, sustainability, mission alignment, etc.
Secondly, Juvenate provided recommendations towards the funding applications submitted by Edvanced, which included:
Analysing past applications submitted by Edvanced and suggesting solutions based on reasons of rejection provided by funding organisations.
Suggesting high-priority funds that Edvanced could be involved in based on the comparative analysis.
Compiled a spreadsheet with details of public and private funding schemes and provided a recommended application priority for the client.
Carefully selected a limited number of funding programs deemed most suitable for the client with detailed guidance on the application process.