Philips Foundation extends its strategy into making social impact investments

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Oct 05, 2021
By the Philips Foundation team

Amsterdam, the Netherlands – Philips Foundation, with its mission to provide access to quality healthcare for underserved communities through meaningful innovation, today announced the creation of a new social impact investment vehicle. Through this new initiative, Philips Foundation aims to accelerate the development of potentially high impact access-to-care opportunities and reduce healthcare inequality by nurturing early-stage social enterprises through stage-appropriate investments and support.

 

Over its 6 years of existence, and in line with its mission to reduce healthcare inequality by providing access to quality healthcare for underserved communities, Philips Foundation has continuously increased its impact. In 2020 it enabled access to healthcare services to over 7.5 million people. This impact has so far been realized through a portfolio of activities, allocating grants to collaborative projects with NGOs and loans to social entrepreneurs, with the aim of maximizing impact by selecting initiatives focused on developing and enabling scalable healthcare models and locally self-sustaining ecosystems.

By creating this social impact investment vehicle, Philips Foundation is underlining its commitment to find innovative ways to provide access to quality healthcare for around a hundred million underserved people annually by 2030.

Margot Cooijmans

Director of the Philips Foundation

In 2020, Philips Foundation formulated a strategic plan for its next phase of development, expressing the ambition to provide access to quality healthcare for around one hundred million underserved people annually by 2030. To this end, and in line with Philips’ aim to expand access to care for 400 million people in underserved communities, Philips Foundation extended its strategy with the intention to explore opportunities for impact investment. As a result, Philips Foundation has now incorporated a wholly-owned subsidiary, called Philips Foundation Impact Investments B.V. It will be centered around SDG 3 (good health and well-being) and SDG 17 (partnerships for sustainable development), and will invest in social entrepreneurs that can help to scale promising initiatives.

 

“By creating this social impact investment vehicle, Philips Foundation is underlining its commitment to find innovative ways to provide access to quality healthcare for around a hundred million underserved people annually by 2030,” said Margot Cooijmans, Director of Philips Foundation. “Through focused investments in social enterprises at a proof-of-concept or early-scale phase we expect to accelerate the progress of potentially high impact access-to-care opportunities and reduce healthcare inequality. The primary objective will be to create impact by exploring innovative ways of creating access to quality healthcare for people that hardly receive any medical support.”

 

For further information, please contact:

 

Yannick Eshuijs

Philips Foundation

Tel.: +31 6 1852 6633

E-mail: yannick.eshuijs@philips.com

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About the Philips Foundation

Philips Foundation is a registered non-profit organization established in 2014 – founded on the belief that technological innovation and collaboration can drive sustainable and systemic change for primary healthcare systems across the globe and help solve some of the world's toughest access to healthcare challenges. Philips Foundation’s mission is to reduce healthcare inequality by providing access to quality healthcare for underserved communities through innovation. Philips Foundation fulfills its mission by deploying Philips’ expertise in innovative healthcare technology and solutions, by exploring viable and sustainable healthcare delivery models, and by collaborating with key partners around the world. More information on can be found at www.philips-foundation.com

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