Making social impact great again

Posted on 28 Jan 2025

By Greg Thom, journalist, Institute of Community Directors Australia

While newly elected US President Donald Trump has pulled out of the Paris agreement, declared war on the environment, and begun dismantling government-run diversity and inclusion programs, an Australian initiative is taking the opposite approach.

Catalysing Impact is designed to speed up the growth and influence of Australian purpose driven enterprises that focus on climate resilience and inclusion.

Funded by the QBE Foundation in partnership with Social Impact Hub, the initiative combines a $1 million pool of grant funding with capability development to help organisations take their social and environmental efforts to the next level.

The program is open to Australian incorporated enterprises, from startups and early-stage ventures to established organisations.

Under stage one of the application process, successful enterprises will each receive an initial $10,000 grant and professional advice tailored to their needs, mentoring, hackathons and skilled volunteering.

During the second stage between July and August, participating organisations will be able to apply for funding of between $150,000 and $400,000 matched to external investment they have secured.

Social Impact Hub said this two-stage grant process allows enterprises to use "in principle" commitments to secure investment.

They will also have the opportunity to pitch their ideas at a live crowdfunding event.

Catalysing Impact will initially focus on Australian enterprises but plans to expand internationally in the future.

“By providing funding and capability-building resources, the initiative aims to empower enterprises working to address climate resilience and inclusion.”

Viv Bower, QBE Foundation.

Viv Bower, QBE Foundation's group executive of corporate affairs and sustainability and global chair, said the program supports enterprises at different growth stages, offering seed funding to emerging ventures and advanced matched grants for those that are growing at scale.

“Catalysing Impact is central to QBE Foundation’s objective to foster partnerships that deliver measurable impact,” he said.

“By providing funding and capability-building resources, the initiative aims to empower enterprises working to address climate resilience and inclusion.”

A 2024 study by investment advisors Koda Capital found that more than 60% of not-for-profits, charities and philanthropic foundations believed that responsible investing had increased in importance for their organisation over the past five years.

The research also found that the majority of for-purpose investors didn't believe responsible investing compromised their financial goals, with 76% agreeing their organisation wasn't forced to choose between investing responsibly and achieving financial objectives.

Bower said impact enterprises and purpose-driven businesses can play a powerful role in addressing the world’s most pressing challenges.

“This initiative not only provides funding but also leverages the expertise of our employees, enabling us to drive meaningful, long-term change while strengthening our connection to the communities we operate in."

Social Impact Hub founder and CEO Jessica Mendoza-Roth agreed.

“The Social Impact Hub is thrilled to be partnering with QBE Foundation on this innovative initiative that combines grant capital and capability-building support to hopefully 'crowd in' other forms of investment and scale impact,” she said.

“If you’re looking to raise investment capital in the next six months and are addressing inclusion or climate resilience, I’d strongly encourage you to apply.”