SIM’s new social entrepreneurship centre draws $8 million in donations

SINGAPORE: The Singapore Institute of Management (SIM) has unveiled the Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) at their campus, aimed at fostering social entrepreneurship, supporting social enterprises, and enhancing collaboration with social service agencies.

The establishment of RESSEC has been significantly bolstered by a generous $8 million donation, with $6 million contributed by the Eu family and $2 million by SIM. The centre is named in honour of Dr Richard K M Eu, reflecting the Eu family’s enduring commitment to social causes.

“Through collaboration and partnership in the social entrepreneurship space, we aim to create a more inclusive and equitable future,” said Jonathan Eu, the grandson of the late Dr Richard Eu, at the inauguration event.

The opening ceremony was attended by Anita Fam, President of the National Council of Social Service (NCSS), along with 50 other distinguished guests from the social service sector.

The event highlighted RESSEC’s mission to nurture social entrepreneurs and support the growth of social enterprises through various initiatives and programs.

One of the key offerings of RESSEC is the Specialist Diploma in Social Entrepreneurship (SDSE), conducted by SIM. The first cohort of the SDSE began their journey in July with 18 participants, each of whom received a scholarship worth $15,000.

RESSEC also plans to provide bursaries to support SIM Global Education students involved in community or social service initiatives. Later this year, twelve bursaries, each valued at $10,000, will be awarded to deserving students.

RESSEC’s combination of postgraduate and professional development courses, along with financial support initiatives, aims to cultivate a new generation of social entrepreneurs equipped to drive positive change and address social challenges effectively. /TISG