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DBS Foundation awards over HK$5 million in grants to 12 social enterprises in Hong Kong and across Asia


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Hong Kong startup Givo among winners in second year of grant programme to increasingly leverage technology to address social challenges

12 Finalists
 

HONG KONG,18 November 2016 -

Hong Kong charitable giving mobile app startup Givo and 11 other innovative social enterprises from across Asia are the beneficiaries of over HK$5 million in funding support this year from the DBS Foundation, the first foundation in Singapore dedicated to championing social entrepreneurship. The grants are part of the foundation’s 2016 Social Enterprise Grant Programme. The foundation has awarded grants ranging from more than HK$270,000 to over HK$985,000 to social enterprises from Singapore, Hong Kong, China, India, Indonesia and Taiwan, to encourage them to deploy social innovations in areas such as healthcare, education and environmental sustainability.

The grants will enable social enterprises to bring their prototypes to market, improve existing processes or scale up their existing business for greater social impact. This year, the DBS Foundation received applications from a wide range of social enterprises from across Asia for its annual Grant Programme. The selection criteria includes identification of the social need addressed, business innovation and business model sustainability. Social enterprises must also demonstrate a path to achieving key business and social impact milestones.

Hong Kong startup Givo developed its innovative mobile app as a way to reinvent and revolutionise how people connect in the world of charitable giving. Givo’s all-in-one platform for all things charity covers everything needed to stay informed about the causes people care about and support, including a personalised newsfeed of favourite causes and charities, a secure way to donate to charities, and more.

Glendy Chu, Head of Group Strategic Marketing & Communications, at DBS Bank (Hong Kong) Limited, said, “Hong Kong has a flourishing startup and social enterprise ecosystem that is producing innovative solutions to help address community challenges and societal issues. We are pleased to see a social enterprise from Hong Kong selected as one of this year's beneficiaries. The DBS Foundation is committed to supporting innovative change makers and we look forward to working closely with these 12 social enterprises in a holistic manner as we help them to do well and do good.”

Find out more about the 12 Change Makers here.

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About DBS 
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's capital position, as well as "AA-" and "Aa1" credit ratings, is among the highest in Asia-Pacific. DBS has been recognised for its leadership in the region, having been named “Asia’s Best Bank” by The Banker, a member of the Financial Times group, and “Best Bank in Asia-Pacific” by Global Finance. The bank has also been named “Safest Bank in Asia” by Global Finance for seven consecutive years from 2009 to 2015.

DBS provides a full range of services in consumer, SME and corporate banking activities across Asia. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. These market insights and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 22,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.

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