Social Enterprise a Key to Economic Growth? Follow the Discussion!


DBS Indonesia builds an ecosystem to support social entrepreneurship development in Indonesia

INDONESIA,06 August 2019 -

A study conducted by the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP) and the British Council, titled Developing an Inclusive and Creative Economy: The State of Social Enterprise in Indonesia, reveals that there are 340,000 social enterprises in Indonesia that contribute 1.9% to Indonesia’s Gross Domestic Income (GDI). Although still small, social enterprises offer inclusive mediums that are financially independent to support Indonesia’s development
DBS Indonesia, as a financial institution that actively supports social entrepreneurship development in Indonesia, will organize “DBS Social Enterprise (SE) Meet Up”, an annual event held by DBS Foundation to support social enterprises in Indonesia. The event, titled Social Enterprise and Its Ecosystem, is aimed at building a social enterprise network in Indonesia. The network is expected to benefit the growth of social enterprises because of the current lack of such an institution in Indonesia. At DBS SE Meet Up, DBS Indonesia will present experts on social entrepreneurship, such as: 
  • Alfie Othman, Executive Director of raiSE Singapore
Alfie has had a good career in banking for more than 12 years. He established raiSE and serves as advisor as well as mentor to many social enterprises in Singapore and the region. Prior to establishing raiSE, Alfie was executive director of the Social Enterprise Association, earning him recognition as a social entrepreneur in Singapore. Alfie will discuss social entrepreneurship development in Asia at this year’s DBS SE Meet Up.
  • Mint Lim, Founder of School of Concept (SoC)
School of Concepts has a mission to give every child the same opportunity to obtain good education. Mint has spent around five years to research and develop a literacy-based SoC program for children at 18 months to 6 years of ages together with teachers, mentors, and specialists. The program uses a very effective teaching technique developed exclusively by SoC called Scaffolding. Mint will discuss the state of social enterprises in Singapore.
  • Stanley Lim, Find Jobs Singapore SE
Find Jobs Singapore SE is the first mobile job application in Singapore operating as a social enterprise. Find Jobs Singapore SE connects offline job seekers with online entrepreneurs. Stanley Lim will discuss the state of social enterprises in Singapore.

  • Putri Arif Febrila, CEO of The Bulkstore & Co
If convenience stores sell goods in large quantities, bulk stores not just sell goods in large quantities but also apply the “zero waste” concept that eliminates the use of plastic packaging. Because bulk stores do not provide containers (packaging), shoppers must bring their own containers. As another option, bulk stores lend containers (usually made of glass) that can be returned on the next transaction. To use loaned containers, customers must make a deposit that is refunded when they return the containers. Putri will discuss the social enterprise ecosystem in Indonesia.
What else will be discussed at the DBS SE Meet Up? Following are some of the key issues.
  • Social Enterprise Ecosystem
This is a hot topic among social entrepreneurs, particularly in the advocacy conducted by the Indonesian government. The social enterprise ecosystem is comprised of policies, geographical characteristics, markets, human resources, culture, social support, and funding. This is crucial due to a lack of certainty about the benefit, identification and legal entity of social enterprises. Indonesia is lagging far behind other countries in Asia, especially ASEAN, such as Thailand and Singapore, in recognizing the importance of social enterprises.
  • Impact Measurement
The second issue to be discussed related to the development of social enterprises in Indonesia is impact measurement. If social enterprises could face the challenges and opportunities of existing ecosystems, then social entrepreneurs need to measure the impacts of their businesses. It is important for the public, particularly the government, to know the impacts of their businesses to make social enterprises a national priority that give significant contribution to economic performance.
 “DBS Bank believes that social enterprises play an important role in Indonesia’s economic growth and social inclusion. The SE Meet Up today is a little bit different because the main objective of the event is the session where participants share experiences, challenges, and the social entrepreneur ecosystems in Indonesia and Singapore. Therefore, we also expect DBS SE Meet Up can facilitate social entrepreneurs to expand their business networks,” Said Mona Monika, Executive Director, Head of Marketing Communication PT Bank DBS Indonesia.
DBS Indonesia has to date assisted more than 400 social enterprises since 2014, such as:
  • Sukkha Citta
Sukkha Citta is a 2018 DBSF Grant Awardee that seeks to bring inclusive economic change through the development of a new generation of artisans who can compete in the global market and who are proud of their work. The social enterprise is fully aware that the domestic craft sector has a big potential in social and economic development. Sukkha Citta appreciates Indonesia’s village artisans by providing them with the knowledge about the industry through training and international certificates to end their exploitation, thus ensuring the sustainability of the industry. The grant will be used to train more local craftsmen, certify villagers, and increase production capacity.
  • Du’Anyam
Du’Anyam is a social enterprise established to empower women, improve women’s and children’s health, the production and marketing of products made from woven palm leaf in remote areas in Indonesia. A 2017 DBSF Grant recipient, Du’Anyam collaborates with nearly 1,000 women weavers in 50 villages in East Flores and Lembata, East Nusa Tenggara (NTT), as well as Nabire, Papua, increasing their income by 40% in the process. Du’Anyam has supplied more than 90,000 woven products to hotels, companies, and domestic and international retail buyers. Social enterprises like Du’Anyam can serve as a model for small and middle enterprises to transform their business and give positive impact to their immediate community.
  • Mycotech
Like Sukkha Citta, Mycotech was also a 2018 DBSF Grant Awardee. Mycotech is a social enterprise that helps improve agriculture waste recycling and increase additional income for farmers in Indonesia. Using a patented technology, Mycotech produces natural adhesive that fuses organic fibers, creating building materials that are environment friendly, strong, and light. These materials could be used to make fancy panels and floor, furniture, racks, and other interior furnishing. Farmers recruited as Mycotech partners gain additional income from selling agriculture waste.
  • Waste4Change
Waste4Change (W4C) is social enterprise that was founded in 2014 with a mission to provide an environmentally friendly and responsible waste management service for a Zero Waste Indonesia. The waste management service covers consulting, campaigning, collecting, and creating recycled products for a sustainable environment. W4C enables each client to monitor where their waste is stored and how it is processed. The Zero Waste to Landfill Method is Waste4Change’s exclusive method that ensures all the wastes are processed without sending any to the landfill. Waste4Change also has a comprehensive waste travel reporting. Waste4Change is DBS Indonesia’s partner for responsible waste management at both DBS offices.


About DBS

DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for eleven consecutive years from 2009 to 2019.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. 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 27,000 staff, representing over 40 nationalities. For more information, please visit

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