For a long time, grants were how most social enterprises in Malaysia stayed afloat. They helped founders test ideas, run pilots, and prove that impact could be more than just a good intention.
They helped founders test ideas, run pilots and prove that doing good could also mean doing business. But for many social enterprises today, grants alone are no longer enough.
A growing number have moved past the early stages. They have customers. They have beneficiaries. Some even have revenue. Yet they remain stuck in an uncomfortable middle – too big for seed support, not quite ready for mainstream investors.
Three social enterprises: Enoku, Bantu Tani, and Seven Tea One recently found themselves at that exact point. After participating in ASBhive-TBN Impact Accelerator Program, each is now preparing to raise funds this year with a clearer understanding of what kind of capital they need and the resources to take them forward.
ENOKU: Choosing Capital That Matches the Mission
ENOKU works at the intersection of employment and inclusion, helping bridge the gap between Persons with Disabilities (PWDs) and employers in Malaysia. Its work spans skills development for PWDs and advisory support for companies trying to build more inclusive workplaces.
For co-founder and CEO, Lily Azura, the accelerator wasn’t about changing direction, but about sharpening focus.
The program pushed us to revisit our “why” – the purpose behind building a business with a social mission. It also broadened our perspective on social responsibility, beyond our direct beneficiaries, and encouraged more creative thinking around funding models. – Lily Azura
That reflection has directly influenced how ENOKU is approaching fundraising. Instead of relying solely on grants or jumping straight into equity, Enoku is planning a blend of loans and equity, taken in stages.
In the near term, loans will help stabilize operations and build financial discipline – something Lily sees as essential for long-term credibility. Equity, meanwhile, is a later consideration, reserved for the right strategic partner.
We want to identify the right strategic partner who aligns with our social mission and brings long-term capacity and expertise. – Lily Azura
If raised in 2026, the funding will support product development, team expansion, and growth into additional states, allowing ENOKU to scale without losing sight of the people it exists to serve.
Bantu Tani: Financing Agriculture Beyond Pilot Projects
In Sabah, Bantu Tani is tackling a challenge with national implications: Malaysia’s dependence on imported onions.
Led by Shahrizal Denci, the social enterprise works with rural communities to develop modern, commercially viable farming combining company-managed farms with structured farmer partnerships.
The accelerator prompted a mindset shift.
We moved away from thinking in terms of projects to a scalable systems approach focusing on unit economics, repeatable farm models, and long-term market positioning. – Shahrizal Denci
Today, Bantu Tani generates revenue through crop sales, farm management, and input optimization, while steadily building a local supply chain aimed at reducing import dependency.
To support this next phase, Bantu Tani is planning to raise blended finance, combining equity and loans. Equity will fund the expansion of its operating team and systems. Loans will be used for asset-heavy needs such as farm infrastructure and working capital.
This approach allows Bantu Tani to scale acreage and standardise production across multiple sites without over-diluting ownership or stretching cash flow.
With the right funding, the goal is to move closer to commercial-scale local onion production that can meaningfully substitute imports, while strengthening livelihoods for rural farmers along the way.
Seven Tea One: Growing with Care, Not Just Speed
At Seven Tea One, growth has always been about people first. The social enterprise employs and trains neurodivergent youth, single mothers, and individuals from marginalised communities, producing handcrafted teas, cookies, and wellness products along the way.
For Director Lai Chong Haur, the accelerator introduced a more disciplined way of thinking about scale.
The program challenged us to think beyond survival and small wins, and instead design a scalable, financially sustainable model that still protects our social mission. We now approach growth with stronger discipline around impact measurement, unit economics, and long-term resilience. – Lai Chong Haur
Seven Tea One is also exploring blended finance, combining patient capital, such as grants or impact-linked funding with responsible loans. This mix gives the organization room to expand without forcing unrealistic short-term profit expectations on a people-centred model.
If fundraising comes through in 2026, Seven Tea One plans to revive its Segamat production plant, obtain Halal and HACCP certification, expand training programs for neurodivergent youth from B40 communities, and strengthen internal management systems.
More importantly, the funding would allow the organization to focus on creating stable jobs and deeper skills development, rather than short-term or one-off interventions.
Why This Accelerator Matters
The experiences of these three enterprises reflect a broader reality in Malaysia’s social enterprise ecosystem.
A 2025 report, Analytical Report on Social Entrepreneurship in Malaysia, found that while the sector has entered a “mainstreaming” phase, many enterprises still struggle to build sustainable business models that balance commercial viability with social impact.
These recurring challenges surfaced repeatedly in conversations with social enterprise founders – and it was from these realities that the ASBhive–TBN Impact Accelerator Program was born.
The Impact Accelerator Program was shaped by conversations with founders who struggle to scale due to challenges in building investor trust. The program aims to reinforce that social impact and commercial viability are not mutually exclusive. Impact-driven businesses can be both profitable and sustainable, and ASBhive is here to prove that. – Redza Shahid, Assistant Director, Innovation & Entrepreneurship Centre, Asia School of Business
Delivered over six intensive days within a month, the programme focuses on business fundamentals, impact measurement, growth experimentation, technology adoption, financial readiness, and pitching to real investors. The aim isn’t just to help founders raise money but to help them understand what kind of money makes sense for where they are.
Alongside Bantu Tani, Seven Tea One, and Enoku, the cohort also included Inspiracomm, Klean, QuinTerra, and People Systems Consultancy. Each is at a different stage of growth, operating in different sectors, yet all are grappling with the same challenge: how to build financially sustainable businesses without diluting their purpose.
As these enterprises move towards more intentional and diversified funding strategies, they point to a broader shift within Malaysia’s social enterprise ecosystem – one where financial sustainability is no longer seen as separate from impact, but as essential to sustaining it over the long term.
To learn more about fundraising and support for impact organizations, visit asbhive.edu.my.
ASBhive plays a key role in Malaysia’s startup ecosystem, supporting founders from idea stage to investment-ready. Through incubators, accelerators, and strong industry partnerships, they help entrepreneurs test boldly, learn fast, and scale with confidence. By connecting startups with investors, corporates, and ecosystem partners, ASBhive is shaping the next wave of impact-driven innovation in Malaysia and beyond.
Discover how ASBhive is supporting founders to scale impact at asbhive.edu.my
