Nurturing Social Entrepreneurs
Beyond children, DBS supports the growth of social entrepreneurs. This is an initiative implemented in our two primary markets – Singapore and Hong Kong.
Encouraging Social Entrepreneurships in Singapore
In March 2008, DBS Bank launched a banking package specially tailored to social enterprises, in support of the growth of social entrepreneurship in Singapore. DBS' Social Enterprise Special Package, an industry first, offers social enterprises preferential rates on business loans and unsecured overdrafts, and fee waivers for a slew of services, among other benefits. "With our experience in supporting commercial enterprises, we hope to contribute to the growth of social entrepreneurship in Singapore. To succeed in an increasingly competitive, global economy, social enterprises will need to equip themselves with business capabilities to stay commercially viable. At DBS, we are committed to adding value to social enterprises through knowledge-sharing in the area of banking and finance. The motivation behind this is to facilitate the growth and commercial viability of social enterprises so that they can, in turn, pursue their social causes on a self-sustaining basis," said DBS head of Enterprise Banking Edwin Khoo. Through our Enterprise Banking unit, DBS has been actively supporting social entrepreneurship as part of our community outreach programme. DBS sponsored the Social Innovators' Forum and the Social Entrepreneur of the Year Award organised by the Social Innovation Park in 2007 and 2008. One of DBS' customers is Kenny Low, winner of the Social Entrepreneur of the Year Award in 2007. Kenny runs O School, a vibrant performing arts centre, to fund bursaries for youth drop-outs seeking a second chance in life.
DBS Social Enterprise Experience in Hong Kong
Social entrepreneurs drive social innovation and improve the state of the communities in which they operate. DBS is committed to supporting their development. DBS Social Enterprise Experience in Hong Kong, the flagship community programme attracted participation from local enterprises and secondary school students. Over 1,500 students attended five seminars and a two-day enterprise trade show, where they picked up valuable business knowledge and skills. Some of these students were subsequently given the opportunity to apply this business know-how to own DBS-sponsored stalls at the Chinese New Year flower market at Victoria Park. Over 30 staff mentors worked with the students throughout the programme, guiding them on how to run a business. In addition, for the ninth year in a row, DBS Hong Kong colleagues, together with their families and friends, took part in the Hong Kong Community Chest Walk for Millions in January 2010. The 1,000-strong DBS contingent was named “Outstanding Walking Team” for the fourth consecutive year, in recognition of their part in raising over HKD117,000 to support local children and youth services.
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