Malaysian Global Innovation & Creativity Centre (MaGIC) held the Buy for Impact fair, a two-day public event in Kuala Lumpur. Buy for Impact is a flagship initiative under MaGIC’s Impact Driven Enterprise Accreditation (IDEA) programme, with a goal to sustain the momentum in helping the Impact Driven Enterprise (IDE) sector become more mainstream. Buy for Impact aims to cultivate a conscious buying behavior among the general public, as well as private and public sectors with the soon-to-be-released trademarked logo for goods or services by accredited Impact Driven Enterprises (IDEs). This will help inform consumers and encourage them to use their purchasing power either as an individual or an organisation to create a positive impact and help local or wider communities. Buy for Impact promotes the mind set of generating a positive impact through social procurement and in the near future, accredited IDEs will be able to use the Buy for Impact logo on their products and services, allowing consumers to identify and consciously select products that give back to the society and/or the environment.
Ashran Dato’ Ghazi, Chief Executive Officer of MaGIC, said: “Buy for Impact aims to achieve a future for Malaysia where every business can be a force for good. Through Buy for Impact, we can help assure consumers that money spent on the purchase of trademarked goods or services from IDEs will contribute to supporting communities, support local talent and help better protect the environment.” He added, “At MaGIC, we want to help create an inclusive economy, where nobody in Malaysia is left behind as well as helping drive long-term benefit for society and the environment. We want to challenge individuals and organisations to think about where their purchases come from and to what purpose they are contributing to – by creating impact, one purchase at a time!”
IDEs aim to address pressing societal issues such as access to education, youth at risks, marginalised communities and advocating for environment care such as minimising wastage, promoting upcycling as well as environmental conservation. Some of the common social suppliers for IDEs include food and beverage, merchandising, sustainable events, waste management, education/training, personal care, eco-tourism as well as fashion and textile. MaGIC recently launched IDEA, a national initiative in collaboration with the Ministry of Finance’s National Entrepreneur Development Office (NEDO) to create a systemic change through the introduction of social procurement and accreditation platforms. IDEA seeks to bridge the disconnect between IDEs and resources as well as opportunities. It seeks to do so in three ways: connecting IDEs with the public and private sectors, giving IDEs access to social procurement opportunities, and helping IDEs establish their credibility through an accreditation program.