SINGAPORE (June 19): DBS Foundation has launched the 2019 cycle of the DBS Foundation Social Enterprise Grant - which has helped more than 100 social enterprises (SEs) from countries such as Singapore, China, Hong Kong, Indonesia and Taiwan achieve their goals for a more sustainable world.
These SEs have deployed social innovations across the region in areas such as healthcare, social inclusion, environment protection, waste management, food sustainability, as well as employment and income generation for the marginalised.
In Singapore, last year’s grant awardees, Treedots and Yonah, continue to take strides in solving major social problems such as food waste and access to healthcare for rural communities through cargo drone delivery systems.
On a global scale, SEs are gaining public attention for their contributions to business and social impact – eight DBS Foundation supported SEs were named in 2018 and 2019 Forbes 30 under 30 lists.
Karen Ngui, a board member of DBS Foundation and head of group strategic marketing & communications says, “At DBS, we believe that social enterprises should be commercially viable businesses that are driven by a strong sense of purpose and social mission. Over the years, we have been heartened to see a marked growth in the number of innovative entrepreneurs that are focused on finding ways to address many social issues in a rapidly developing Asia.”
“To help these businesses for good scale and grow their impact, in addition to grant funding, we also provide capacity building incubation programmes, bespoke mentoring and access to a broader network,” she adds.
DBS also offers support to SEs beyond grant funding. One such example includes the DBS Social Enterprise Support Programme which was launched in 2018. It gives selected SEs access to mentoring sessions by DBS’ senior SME bankers, banking and finance training courses at the DBS SME Academy, and offers them better financing options.
To date, DBS has reached out to more than 30,000 SEs and supported some 310 SEs with more than $4.7 million in grant funding.
Applications submitted by 31 July 2019 will be evaluated in this cycle, and successful applicants can expect to receive between $50,000 and $250,000 in grants. Social entrepreneurs may also submit their applications after 31 July 2019, which will be evaluated in the next grant cycle.
To find out more about the DBS Foundation SE Grant Programme, visit go.dbs.com/Grants
