Philanthropy has proven to play an outsized role in catalyzing and accelerating dynamic changes within society. Greater risk tolerance allows donors to make relatively high-risk investments that move promising programs forward, attract subsequent sources of private capital, and set high standards in collaboration for others to follow. However, philanthropy in Asia remains nascent. What is needed to jumpstart philanthropy? What is philanthropy able and unable to address? How can giving be more impactful, more collaborative, and even smarter?