●      Five Amplifier mentees selected out of ~140 submissions from 35 countries for a 12-month capacity-building programme that incubates and supports impact startups to become commercially viable and scale positive impact in Asia  

●   Themed “Climate and Nature”, Amplifier’s 2024 programme is focused on scaling solutions around sustainable agriculture, circular business models, waste management, sustainable materials, and emissions reduction

●      First cohort of five impact startups from Hong Kong, Indonesia, the Philippines and the USA will each receive up to S$250,000 of catalytic funding, supported by Mastercard Center for Inclusive Growth as Impact Innovation Partner, as well as expertise and mentorship from over 30 global and regional industry leaders across sectors  

Singapore, 15 April 2024 – Temasek Trust ecosystem entities – the Centre for Impact Investing and Practices (CIIP) and Philanthropy Asia Alliance (PAA) – today announced the first cohort of mentees for the Amplifier mentorship programme ("Amplifier") at the Philanthropy Asia Summit 2024. The year-long Amplifier aims to nurture impact startups to become commercially viable and scale positive impact in Asia. 

The programme received 139 submissions from 35 countries spanning a range of themes – including energy and power, sustainable food and land conservation, oceans conservation, circularity and waste, and more – reflecting significant interest in the impact market and the desire of founders and innovators to tackle climate and nature challenges in Asia.

The Amplifier takes a ‘whole-of-ecosystem’ approach, bringing together experts, mentors, and resources from across industries and sectors, to collectively bolster impact ventures in scaling their business. Supported by Impact Innovation Partner Mastercard Center for Inclusive Growth, Amplifier mentees will each receive catalytic philanthropic capital of up to S$250,000. They will also benefit from practical mentorship and expertise from over 30 industry veterans across business, investments, and professional services sectors to accelerate the growth of their groundbreaking solutions.

“Asia is a hotbed of innovation, with a thriving startup culture across many markets. We’re seeing more startups seeking to address complex social and environmental issues, but they too struggle with the ‘valley of death’, lacking access to expert guidance, advisors, and funding beyond the initial seed round,” said Ms. Dawn Chan, CEO, CIIP. “Empowering these promising startups to achieve scalable and financially sustainable impact requires the efforts of the wider ecosystem. We are grateful to the Mastercard Center for Inclusive Growth and our ecosystem partners for contributing their valuable time and resources to the Amplifier Programme and mentees.”

“The number of submissions and ideas received for this programme has really reinforced the importance of supporting Asia as a leader in positive environmental and social impact ideas,” said Ms. Shamina Singh, Founder and President, Mastercard Center for Inclusive Growth and Executive Vice President, Sustainability. “I look forward to seeing the impact that these start-ups create, especially as we look for innovative solutions to help create a more just and sustainable world.”

Unveiling First Amplifier Cohort

With a focus on Climate and Nature, this year’s cohort comprises five startups from diverse geographies and business models, each offering innovative Asia-centric solutions to address the region’s pressing environmental challenges.

The Amplifier mentees were selected based on impact (mission and impact potential, materiality, and accountability), business (feasibility, viability, and execution ability), and alignment to the programme:

• Based in the USA, Circ is a certified B Corp on a mission to power clean closets with patented technology, recycling global fashion waste back into textiles. Circ’s innovative processes separate polycotton blended textile waste, recovering cellulosic and synthetic fibers back into the textile supply chain.

• Based in Hong Kong, GRST manufactures sustainable lithium-ion batteries, free from toxic PFAS “Forever Chemicals” with low carbon footprint and high recyclability. Utilising a water-based electrode coating process, GRST promotes eco-friendly recycling to reduce the need for future mining and to create a circular battery economy.

• Based in the Philippines, MAYANI reshapes rural agricultural value chains by providing sustainable pathways to markets, boosting yield and climate resilience via quality agri-inputs, and driving financial inclusion through alternative rural financing.

• Based in Indonesia, B Corp certified biotech company MYCL makes affordable, durable, and sustainable material no longer impossible. MYCL is developing a high-performance, low-carbon emission composite and leather-like material called Mylea™. Made from agricultural crop waste bound together with mushroom mycelium, it is versatile with a wide range of applications, from footwear to automotive interiors and building materials.

• Based in Indonesia, Sampangan provides carbon negative products through its proprietary carbonization technology that converts all types of unsorted waste into sustainable materials. By transforming waste materials into versatile raw materials, Sampangan aims to become a global force for a circular economy, offering sustainable products from holistic waste management, especially in water treatment, agriculture, and poultry industries.

Powered by Partnerships

The success of the Amplifier is underpinned by partnerships. It is supported by over 30 programme partners, including global and regional industry leaders across sectors.

“We are deeply grateful for the steadfast support from our extensive network of partners, which has been instrumental in the successful launch of the Amplifier. They each bring unique and invaluable contributions as mentors, reference clients, or funders— many of whom are eager to deepen their involvement beyond capital deployment. This collaborative approach not only enables mentees to scale their impactful solutions, but also paves the way for transformative change, particularly in this critical era where urgent climate action is imperative,” said Ms. Lim Seok Hui, CEO, Philanthropy Asia Alliance.

The Amplifier welcomes more partners to come onboard – whether as a funder, mentor, and/or a reference client to pilot or trial a company’s products and/or services and provide feedback, as well as in-kind resources, services, and advice.

The call for submissions for next year’s mentees will commence in Q3 of 2024.

For more information on the Amplifier, please visit: https://philanthropyasiaalliance.org/the-amplifier. You can also reach out to us at [email protected]. 

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