As companies today find themselves caught between the dilemma of limited resources and the compelling desire to create social impact, it is increasingly apparent that the key lies in collective solutions. Challenges facing our society are ever-changing and usually stem from multiple root causes. Therefore, systemic solutions for such issues need collective knowledge, resources and will.
By leveraging partners who seek the same social outcome and share a common purpose through the collective impact approach, companies are venturing into new horizons of corporate giving.
CoLABS, a collaborative platform launched in Feb 2017, enables companies to not only deepen their understanding about community needs but also bring about scalable impact and a platform for risk diversification and creation of innovation solutions.
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Source: The Business Times, 10 April 2017