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Things Social Entrepreneurs Should Know to Grow Their Business


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Bank DBS Indonesia Holds Social Enterprise Grant 2019 Program to Support the Development of Social Entrepreneurship in Indonesia

INDONESIA,15 July 2019 -

United Nations Economic and Social Council (UN-ESCAP) data reveal that by the end of 2018, there were around 340,000 social enterprises in Indonesia. Unlike other businesses, social enterprises create an opportunity for inclusion and equality as their core business with a social mission. However, there are still many challenges faced by social entrepreneurs, from a lack of networks, funding sources, access to knowledge, and mentorship to a lack of an adequate social entrepreneurial ecosystem.

Bank DBS Indonesia as a bank that actively supports and develops social enterprises in Indonesia holds Social Enterprise Grant 2019. The program, supported by DBS Foundation, has reached more than 100 social enterprises in Singapore, China, Hong Kong, India, Indonesia and Taiwan. The program is aimed at helping social entrepreneurs improve their business by increasing their operational capacity, innovation capabilities, and expanding geographical reach in order to create and increase the social impacts of their business.

The program is intended for social enterprises that provide products or business solutions that have been validated in the marketplace and could be proven by income and/or attractiveness for acquisition by clients, with a clear plan to improve the business. In addition, these social enterprises are committed to their social mission and have a clear roadmap in order to increase their social impacts. Grants between S$50,000-250,000 will be given to selected social enterprises provided they are registered in the country they operate and have no religious or political agenda or affiliation. DBS Foundation doesn’t fund individual activities, charities, general fundraising or non-governmental organizations (NGOs).

Registration will be open until 31 July 2019, 23:59 Singapore time (GMT + 8), to be followed by an evaluation process from August to September 2019. Late registration (after the registration deadline) will be evaluated in the following year. To learn more about the assessment criteria for the Social Enterprise Grant program by DBS Foundation, read the following:

  • Innovations

Social entrepreneurs are assessed based on the extent of the impacts of the solutions they provide on current social problems through innovations and sustainable business improvements.

  • Social Impact

Identification of the social problems to be solved, the stakeholders and the target/focus of the business, as well as tangible proof of the impact produced.

  • Business Worthy

The criteria includes market demand for services or products of social enterprises, the strength of the strategy in acquiring customers and the business revenue model, as well as a proven financial track record and realistic projections.

  • Scalability of business and social impact

Scalability is assessed based on operational ability to implement business improvement plans over the next 24 months and how the feasibility of the improvement plans is based on the main drivers of growth.

  • The Power of Teamwork

There are two things assessed under this criteria, namely the vision and commitment of the founder to achieve social impact as well as the team's management’s experience and ability to achieve growth targets.

Mona Monika, Executive Director, Head of Marketing Communications PT Bank DBS Indonesia, said, "DBS Bank believes that social enterprises play an important role in Indonesia's economic growth and social inclusion. Therefore, through the Social Enterprise Grant program we want to find new social entrepreneurs who need to be supported to enable them to grow so that people can feel the social impacts of the businesses. Through this program, we not only provide grants but also capacity building incubation program, on-demand mentoring, and access to wider networks."

For more information about DBS Foundation Social Enterprise Grant Program, visit go.dbs.com/Grants.

 

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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 ten consecutive years from 2009 to 2018.

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 www.dbs.com.

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