‘Ecosystem approach’ needed to tackle Asia’s interconnected challenges: Temasek Foundation CEO
Philanthropic capital can help get pilot projects off the ground, but partnerships with governments and the private sector are needed to take them to scale, said CEO Ng Boon Heong.
Temasek Foundation CEO Ng Boon Heong spoke to CNA on the sidelines of the AVPN Global Conference in New Delhi. (Image: CNA)
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NEW DELHI: Challenges such as climate change and public health are becoming increasingly interconnected, underscoring the need for collaboration, said Temasek Foundation CEO Ng Boon Heong.
Addressing these challenges requires cooperation between the public, private and philanthropic sectors, he told CNA on the sidelines of the AVPN Global Conference in New Delhi.
“We no longer can work in isolation and work alone. An ecosystem approach is required,” said Ng.
“This is where philanthropy can help bridge the gap.”
The three-day AVPN Global Conference, which ends on Thursday (Aug 27), brings together global leaders in corporate philanthropy, private foundations, impact investing and other stakeholders under the theme “A Blueprint for Action in Asia”.
Discussions at the conference have focused on how philanthropy, impact investing and blended finance can help channel capital to address the region’s development needs.
The Asia-Pacific region faces an annual financing gap of US$1.5 trillion to achieve its sustainable development goals, according to the United Nations Economic and Social Commission for Asia and the Pacific.
The goals are a set of 17 global targets adopted by the UN to tackle issues including poverty, inequality and climate change by 2030.
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PHILANTROPY AS UPFRONT RISK CAPITAL
Temasek Foundation’s mandate spans across Singapore and the wider Asian region. Its areas of work include climate and liveability, health and well-being and building resilient societies.
Ng said the foundation works with governments and the private sector, deploying philanthropic capital as “upfront risk capital”.
The foundation’s objective is for pilot projects to eventually scale up through follow-on funding, resources and capabilities.
Since 2016, 88 sustainability and health innovations funded by S$61.5 million (US$48.3 million) in Temasek Foundation grants have attracted more than 10 times that amount in follow-on funding, according to the foundation’s 2025 impact report.
“The government and private sector naturally have these capabilities and resources much broader, much deeper than a philanthropic organisation,” said Ng.
“And so this partnership for us is very important.”
He added that the foundation is now structuring its philanthropic programmes around such a model.
SINGAPORE-BORN SOLUTIONS FINDING NEW OPPORTUNITIES
Temasek Foundation runs a network of climate and healthcare innovation challenges in Singapore, Indonesia, Japan, Vietnam and China.
Its climate innovation challenges include competitions that seek out promising solutions and support their piloting and scaling.
Mr Ng said the network can also help Singapore companies take their innovations into different markets.
He cited Singapore-born company N&E Innovations, which upcycles biodegradable waste into antimicrobial sprays and wraps to help fresh produce last longer.
In 2024, N&E Innovations won the food systems and sustainable agriculture track at Vietnam’s Net Zero Challenge, co-organised by Temasek Foundation and venture capital firm Touchstone Partners.
It received VND5 billion (US$190,000) in grant funding to pilot its antimicrobial solutions in Vietnam.
“We are very proud that, with the different countries, it becomes an ecosystem for Singapore companies who are interested to go to different markets,” Ng said.
It allows them to demonstrate the value of their innovations and potentially persuade governments and private sector players to take a stake in them and help them grow, he said.
WHEN CAPITAL ALONE IS NOT ENOUGH
While funding and resources remain important, Ng said capital alone is not enough to successfully scale a good idea.
“Sometimes you have a good idea, you have a good company, you’re in the wrong market.”
“And in that particular market, a strong partnership between public, private, people and the philanthropic sector will be very important to see success,” he said.
Source: CNA/oc(mp)
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