Philips Foundation publishes 2017 Annual Report

Philips Foundation publishes 2017 Annual Report

Philips Foundation publishes 2017 Annual Report

The FINANCIAL -- Amsterdam, the Netherlands – The Philips Foundation, set up by Royal Philips as part of its mission to improve the lives of 3 billion people a year by 2025, announced the publication of its 2017 Annual Report.

The report highlights the achievements and progress of the foundation in 2017 including ongoing collaborations with international organizations; enhanced support for local NGO projects; active encouragement of social entrepreneurship; and expansion of Philips’ employee volunteer program. The Philips Foundation has funded and supported more than 100 projects across the world to date, with the objective of reducing healthcare inequality by providing access to quality healthcare for disadvantaged communities.

Strategic collaborations at global and local level

The Philips Foundation continues to support global projects, working with the International Committee of the Red Cross (ICRC), UNICEF, Amref Flying Doctors and others to develop innovative approaches that improve access to healthcare, especially in low-resource settings. Other initiatives that took the foundation over its 100-project milestone included projects with local organizations in all markets where Philips operates. These projects encompass mother and child care, diagnostic technology for cardiology and oncology, respiratory care, and education around healthy living.

Social entrepreneurship

The Philips Foundation works with Ashoka, the largest global network of leading social entrepreneurs. Jointly, the parties started the Accelerating Healthcare Access (AHA!) initiative as a movement between Philips Foundation and social entrepreneurs to address United Nations Sustainable Development Goal 3 (SDG 3) by scaling social innovation. Ashoka social entrepreneurs – selected for their ability to bring about systemic change and increase access to healthcare – are helped to achieve their goals with support from the skills and expertise of talented and seasoned business leaders from Philips.

Employee engagement

To give Philips’ own employees a better understanding of the needs of the people the foundation seeks to serve, The Philips Foundation helps coordinate the activities of Philips’ employee volunteering scheme, combining the capabilities of 74,000 employees on shared healthcare goals.