DBS Foundation awards SGD 1 million in grants to 12 social enterprises across Asia

Singapore, 15 Nov 2016 - The DBS Foundation, the first foundation in Singapore dedicated to championing social entrepreneurship, today announced that it has awarded SGD1 million to 12 Social Enterprises (SEs) in Asia, as part of its 2016 Social Enterprise Grant Programme. The DBS Foundation has awarded grants ranging between SGD50,000 and SGD180,000 to SEs 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 SEs 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 SEs from across Asia for its annual Grant Programme. The selection criteria includes identification of the social need addressed, business innovation and business model sustainability. SEs must also demonstrate a path to achieving key business and social impact milestones.

Said Karen Ngui, Board Member, DBS Foundation and Head of Group Strategic Marketing & Communications, DBS Bank, “Social enterprises face numerous challenges as they strive to establish and grow their businesses and concurrently deliver social impact. The DBS Foundation is committed to nurturing and growing the broader SE ecosystem and this year, we are privileged to support 12 more innovative Change Makers with our annual SE Grant Programme. We look forward to working closely with these SEs in a holistic manner as we help them to do well and do good."

DBS Foundation supports social entrepreneurs across Asia in three broad areas. This entails:

• Building awareness and advocacy for SEs through initiatives such as the DBS-NUS Social Venture Challenge Asia, bootcamps, workshops and learning forums.
• Incubating and mentoring promising SEs through incubation programmes, skilled mentorship and funding operational growth.
• Growing high potential SEs through customised support, advisory and funding.

While the bank has been supporting social entrepreneurship for many years, it stepped up its commitment to the growth of social entrepreneurship with the establishment of the SGD 50 million DBS Foundation in 2014, to mark Singapore’s 50th year of independence. To date, DBS has reached out to more than 5000 SEs and supported over 100 SEs with more than SGD 4 million in grant funding.

The DBS Foundation works in partnership with like-minded organisations, public and social sectors, to promote the development of social entrepreneurship.

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 is at the forefront of leveraging digital technology to shape the future of banking, and has been named “World’s Best Digital Bank” by Euromoney. The bank has also been recognised for its leadership in the region, having been conferred “Asia’s Best Bank” by The Banker and Euromoney, and “Asian Bank of the Year” by IFR Asia. The bank has also been named “Safest Bank in Asia” by Global Finance for eight consecutive years from 2009 to 2016.
 
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 22,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.

About DBS Foundation
Championing Social Entrepreneurship
As a corporate foundation in Asia solely dedicated to championing social entrepreneurship, DBS Foundation contributes towards building a more inclusive society so that those at society’s margins can enjoy productive and rewarding lives. DBS Foundation works with Social Enterprises and Social Entrepreneurs in Singapore, India, Indonesia, China, Taiwan and Hong Kong with programmes ranging from venture challenges, learning forums, intensive incubation, grant support, financing and skilled volunteer mentoring.  The Foundation is an endeavor from DBS Bank to make an even greater impact in addressing Asia’s evolving social needs. Please visit: www.dbs.com/dbsfoundation; Reach us on: dbsfoundation@dbs.com