“Our mission remains absolute as we reflect on the impact of COVID-19 that is still unfolding, giving rise to concerns of more serious economic and social implications for our nation,” said Aidonna Jun Ayub, the Programme Manager of SEEd.Lab.
The primary aim of SEEd.Lab’s first cohort was to address the rising youth unemployment issue in Malaysia through the creation of entrepreneurial opportunities via social enterprises. Moving into the second cohort, SEEd.Lab is casting a wider net in tackling communities’ pain points across different areas including Food and Agriculture, Health and Hygiene, Education and Skills, and Personal and Financial Security.
A McKinsey report, “Scaling the Impact of the Social Enterprise Sector” documented that a 0.9 per cent growth in social enterprises in the Netherlands from 2010 to 2015 brought about more than 60 per cent increase or 25,000 new jobs within the sector. Within the same period, total revenue in the Dutch social enterprise sector rose by 75 per cent to 3.5 billion euros in 2015.
For corporations like PETRONAS and TCS, nurturing social entrepreneurship in Malaysia is not only a means to reduce unemployment. The multifold benefits of a thriving social enterprise sector could generate economic growth, creating a domino effect of positivity in Malaysia.
“We believe that PETRONAS has a role to play in leveraging the expertise, experience and resources at our disposal to contribute towards building a more equitable and sustainable society. SEEd.Lab is an innovation hub, founded on the intent to empower and equip passionate changemakers with the right tools and support in realising their ambitions to effect real change in Malaysia,” said Datuk Md Arif Mahmood, Executive Vice President and Chief Executive Officer of PETRONAS Downstream Business and Advisor of SEEd.Lab.