Impact Beyond Award 2024

The DBS Foundation Impact Beyond Award aims to unearth and support innovative businesses that address the world’s most ‘wicked’ problems, awarding a total of S$3 million in prize money to three visionary businesses.

Each year, the award will pose a challenge statement that spotlights one of society’s pressing needs, and invite businesses to pitch innovative and transformative solutions. 

This year, the Foundation is putting the focus on ageing, and is on the lookout for solutions that enable everyone to age with dignity and purpose.

Apply now

The DBS Foundation is on a mission to find and support groundbreaking businesses from around the world that are tackling the urgent challenges of an ageing society head-on. We seek visionary solutions that enhance the quality of life, revolutionise healthcare and nutrition, combat social isolation, build a dynamic multigenerational workforce, and ensure financial resilience for the vulnerable amongst us. The DBS Foundation Impact Beyond Award is not just an award—it’s a movement. A movement to scale bold ideas and drive real, sustainable impact. We are looking for the trailblazers and change-makers who see the ageing population not as a problem, but as an opportunity to innovate and create longevity solutions. Join us in transforming the narrative on ageing. Together, we can build a future where every person, at every age, can live with dignity, purpose, and joy.

What are we looking for?

We are on the lookout for innovative solutions that address longevity needs of ageing societies, that can be extended to vulnerable communities.

These could include:

1

Enhancing quality of life with innovative products and services

2

Improving access to healthcare and nutrition, and protecting/ enhancing mental wellness

3

Fostering more inclusive and resilient communities; redefining the built environment to help combat social isolation

4

Building a multi-generational workforce through new skills and micro-jobs

5

Improving digital literacy and financial resilience

Businesses with other transformative longevity solutions are also welcome to apply.

Eligibility

Track record

Social enterprises and small-and-medium enterprises (SMEs) with an annual total revenue of at least S$5 million in the most recent financial year

Impact

Transformative impact for an ageing society

Collaboration

Collaborative ecosystem approach to scale impact

Innovation

Innovative and disruptive business models that address pressing needs

Ambition

Ambitious with actionable plans for scaling up

Leadership

Visionary leadership team, motivated to take things to the next level

Apply now

Scale your impact

Embark on a transformative journey to fuel your
business growth.

Receive up to S$1 million to scale impact

Be mentored by DBS management and
business leaders

Enjoy greater access to networking and collaboration opportunities

Become a key part of the DBS Foundation regional community

Timeline

Sep – Nov 2024

Applications open till 30 November 2024, 2359 SGT.

Dec 2024 – Feb 2025

Evaluation of applications.

Mar 2025

Awardees will be announced.

FAQs

Application
1. When is the closing date for application?
  To be eligible for evaluation for the 2024 Award, you need to submit your application before 30 November 2024, 2359 hrs SGT.
2. How will I know if my award application has been received?
  Successful submissions will receive an auto-generated acknowledgement of receipt of your online application via email.
3. Is there a way to save my answers in the application form so that I can come back to it later?
  No, there is no save button in the application form. Instead, you may download the form template to prepare and save your draft responses. Once all your responses are ready and you have consolidated all the required documents, you can copy your answers in the online submission for the final submission.
4. I have prepared my responses in the form template that I have downloaded from the link. Can I send an email to submit my application?
  No. All applications need to be submitted through the online form. Submissions via other means will not be accepted.
5. There are some mistakes in my application. Can I submit a new form again?
  Only one application will be accepted per entity. If multiple applications are submitted for the same entity for the same grant type, only the most recent submission will be considered before the closing date.
6. When will I know the results?
  Applicants will be notified of their application outcome by March 2025. Actual dates will be communicated later.
7. I would like to meet with the team from DBS Foundation before submitting my application.
  Due to the volume of applications we receive, and to ensure fairness and equality among applicants, we do not accept meetings with applicants. Only applications submitted online will be assessed by DBS Foundation. Please note that applications that are incomplete or do not provide clear information will be rejected.
8. Can I use the Award funding to fund expansion plans, product developments, marketing expenditure or hiring in other countries?
  The use of the award funding is not exhaustive as long as it supports the scaling of the business and social impact in an impactful way.
9. How do I know that the information that I have submitted to DBS Foundation is safe?
  The DBS Foundation is governed by the Personal Data Protection Act and the information you provide will be secure. By participating in the Award application process, you consent to DBS Foundation collecting and using your personal particulars (including but not limited to name and contact details) for purposes of the DBS Foundation Impact Beyond Award. DBS Foundation will not use your personal particulars for any other purpose. All personal particulars provided to DBS Foundation will be kept secure and processed in accordance with all applicable laws.
Eligibility
1. My business is registered as a not-for-profit organisation, can I apply?
  Entities that are registered as not-for-profit, sole proprietorship, charities, religious organisations for religious purposes, election campaigns, general fund-raising drives or event sponsorships will not be eligible for the grant.
2. My business is not a social enterprise but has CSR programmes. Can I apply?
  Your business needs to address the needs of an ageing society, and demonstrate transformative impact.
3. My business is not profit making yet. Can I apply?
  Yes, but you need to show a clear path to profitability, including the time taken and efforts needed to reach break-even point. We are looking for businesses that have very strong business growth that is both scalable and financially sustainable.
4. Can I apply to this programme if I am a past grant awardee of DBS Foundation?
  SE and SME applicants which have previously received grants from DBS Bank and its affiliates, subsidiaries (“DBS”) and/or DBSF, may apply for the Award, only if previously awarded grant(s) has expired. Being a former DBSF grantee awardee does not guarantee successful application to future grants. Every application will be assessed independently on its own merits.
5. I applied to the DBS Foundation Grant before but was not awarded a grant, can I apply for this Award?
  Yes. Each year, applications are reviewed independently. You may submit an application for the Impact Beyond Award.
6. My business is currently based in India, but I have not obtained an approval under Foreign Contribution Regulation Act (FCRA). Can I still apply?
  Business entities in India are required to provide evidence of having FCRA approval, or the ability to meet the following criteria:
  1. Profitability of the business is dependent solely on the sales revenue and not on account of the income receivable by way of grants and/or awards;
  2. Does not have a definite cultural, economic, educational, religious or social (“CEERS”) programme; and
  3. Grant not be used towards funding any other persons and/or entities which would need to be registered to obtain FCRA registration or approval.
  DBS Foundation is unable to award funding to entities that do not meet the above criteria.
Evaluation
1. How does DBS Foundation decide on the Awardees?
  Applicants will be evaluated by a panel of industry experts.
2. Can the evaluation panel sign a Non-Disclosure Agreement with me?
  Applications are protected in the spirit of non-disclosure, and all submitted materials will be treated as confidential. Employees of DBS Bank and DBS Foundation, any agents or external advisors who have access to applications as part of the evaluation process are bound to confidentiality. Information submitted by applicants will not be distributed to any other parties unless requested by the applicant. No other provisions are made to protect intellectual property.
  While no information will be shared on public platforms, if you have/are in the process of filing patent(s), please do not disclose critical information which would affect a successful filing until you have been confirmed as a shortlisted applicant for local and/or final evaluation.
  You should reveal information that you are comfortable and have the right to reveal.
3. What is the evaluation process like?
  If shortlisted, there will be a combination of interviews and a pitching session.
4. If I am not selected this year, can I apply again next year? How do I appeal?
  The decision of the evaluation panel is final. Yes, you can apply again next year.
Milestones and Disbursement
1. How should I set my milestones?
  If you have been successful in your application, we will discuss with you on the award funding purpose, milestones, deliverables and timeline. The award purpose must be aligned to the objective of scaling up your business solution and impact. Milestones need to be measurable and achievable before the end of award term.
2. Can I change the use of Award after my application has been approved?
  The funding is awarded based on the plan you have presented to the evaluation panel. Therefore, we will not allow for a change in the proposed use of funds after in-principle approval has been received. DBS Foundation reserves the right to withdraw the Award if the intended use changes.
3. Can the Award be used to fund past activities?
  The award funding cannot be used to fund past activities or events. It can only be used for expenses which are incurred after the Award agreement has been signed.
4. How will the Award be disbursed?
  Once each milestone is achieved, the Awardee will need to submit the agreed deliverables to DBS Foundation for review and approval, to our satisfaction. The funds will be disbursed after approval is obtained.
5. Do I need to provide reports to DBS Foundation on my milestones and progress?
  All grantees are expected to submit a regular progress update on their business and social impact once every six months, and financial statements annually.

Terms & Conditions apply

DBS Group

Useful Links

Awards

Asia’s Safest Bank, 2009 – 2023, Global Finance

Best Bank in the World 2022, Global Finance

World's Best Bank 2021, Euromoney

Best Bank in the World 2020, Global Finance

World's Best Bank 2019, Euromoney

Global Bank of the Year 2018, The Banker