DBS Foundation awards SGD 3 million to innovators shaping the future of ageing in Asia
Singapore, Regional.29 May 2025
Singapore, Regional, 29 May 2025 - DBS Foundation (DBSF) has unveiled the four winners of its inaugural Impact Beyond Award, which was launched last year to super-charge impactful businesses that are tackling urgent needs in ageing societies. These winners will collectively receive SGD 3 million in prize funding from DBSF, along with the bank’s support, to catalyse their next phase of growth – whether through new product development, scaling operations, capacity-building or more.
Selected from close to 100 submissions worldwide following a rigorous evaluation process involving both DBS senior leaders and independent external experts, these visionary businesses stood out in the following ways: harnessing technology to unlock and scale new solutions; driving holistic impact through a collaborative ecosystem approach that bridges the public, private and people sectors; and strengthening caregiving networks to enable seniors to age-in-place.
The Impact Beyond Award builds on DBSF’s longstanding commitment to catalyse the growth of purpose-driven businesses and create impact. This includes running an annual DBSF grant programme for social enterprises since 2015 – through which it has disbursed SGD 21.5 million in grant funding to more than 160 grantees across the region, in addition to other forms of support such as preferential banking packages, mentorship, networking opportunities and more.
Tan Su Shan, DBS CEO, said:“We are proud to recognise our Impact Beyond Award winners — not just for their innovation, but for their deep commitment to tackling real societal challenges with purpose and heart. Their work exemplifies how businesses can create meaningful impact while achieving sustainable success. At DBS and DBS Foundation, we are committed to walking this journey with them by leveraging our One-Bank capabilities to accelerate their growth and help them scale and uplift more communities.”
Karen Ngui, Head of DBS Foundation and DBS Group Strategic Marketing and Communications, said: “Societies are ageing rapidly and it is sobering to see that we’re living in a world where there are more people over 60 years of age than below 5.We are therefore very encouraged to see DBS Foundation's inaugural batch of Impact Beyond Award winners embedding purpose at the core of their business, as they focus on delivering transformative solutions to meet the urgent needs of ageing societies.We hope these innovative businesses for impact will demonstrate that businesses can indeed be a force for good. Ageing well should not be a privilege for just the select few but a shared promise for all – as we work together to build a future where seniors of today, and tomorrow, can live with dignity and purpose.”
From enabling ageing-in-place through smart home innovations, designing senior living models for different care needs, to alleviating caregiving pressures through AI-powered caregiver matching algorithms, workforce development and more – these Impact Beyond Award winners are harnessing the power of technology and collaborations to deliver targeted, scalable responses to key ageing challenges in their respective markets.
The winners are:
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About DBS Foundation
Established in 2014, DBS Foundation is committed to uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact. It aims to bring hope to those with less today, so no one is left behind and we can all face the future with confidence.
In 2024, DBS committed up to SGD 1 billion dollars over the next decade to support vulnerable communities. It also pledged to contribute 1.5 million employee volunteer hours over the same period.
Together with an ecosystem of like-minded partners, DBS Foundation seeks to create impact that goes beyond banking, beyond borders, and beyond generations.
For more information, please visit: www.dbs.com/dbsfoundation
Speakers from GovTech, Temasek, DBS, DBS Foundation and the Impact Beyond Award winners at the Impact Beyond Dialogue by DBS Foundation
Selected from close to 100 submissions worldwide following a rigorous evaluation process involving both DBS senior leaders and independent external experts, these visionary businesses stood out in the following ways: harnessing technology to unlock and scale new solutions; driving holistic impact through a collaborative ecosystem approach that bridges the public, private and people sectors; and strengthening caregiving networks to enable seniors to age-in-place.
The Impact Beyond Award builds on DBSF’s longstanding commitment to catalyse the growth of purpose-driven businesses and create impact. This includes running an annual DBSF grant programme for social enterprises since 2015 – through which it has disbursed SGD 21.5 million in grant funding to more than 160 grantees across the region, in addition to other forms of support such as preferential banking packages, mentorship, networking opportunities and more.
Tan Su Shan, DBS CEO, said:“We are proud to recognise our Impact Beyond Award winners — not just for their innovation, but for their deep commitment to tackling real societal challenges with purpose and heart. Their work exemplifies how businesses can create meaningful impact while achieving sustainable success. At DBS and DBS Foundation, we are committed to walking this journey with them by leveraging our One-Bank capabilities to accelerate their growth and help them scale and uplift more communities.”
Karen Ngui, Head of DBS Foundation and DBS Group Strategic Marketing and Communications, said: “Societies are ageing rapidly and it is sobering to see that we’re living in a world where there are more people over 60 years of age than below 5.We are therefore very encouraged to see DBS Foundation's inaugural batch of Impact Beyond Award winners embedding purpose at the core of their business, as they focus on delivering transformative solutions to meet the urgent needs of ageing societies.We hope these innovative businesses for impact will demonstrate that businesses can indeed be a force for good. Ageing well should not be a privilege for just the select few but a shared promise for all – as we work together to build a future where seniors of today, and tomorrow, can live with dignity and purpose.”
From enabling ageing-in-place through smart home innovations, designing senior living models for different care needs, to alleviating caregiving pressures through AI-powered caregiver matching algorithms, workforce development and more – these Impact Beyond Award winners are harnessing the power of technology and collaborations to deliver targeted, scalable responses to key ageing challenges in their respective markets.
The winners are:
| Winner | Market | Funding | Profiles |
| Category: Technology | |||
| Buddy Of Parents (BOP) | Singapore | SGD 1mn | BOP is on a mission to transform senior care by empowering seniors to age well at home. Drawing upon its parent company – iWOW Technology Limited’s 26 years of experience in the IoT solutions space, BOP offers smart home solutions that leverage AI and IoT technology to enhance safety, reduce caregiving burden, and promote independent living. The DBSF Impact Beyond Award will support the development of new BOP products, increase outreach to vulnerable seniors through strategic partnerships, and drive international growth. |
| Category: Ecosystem collaboration | |||
| Huakang Health Industry Group | China | SGD 1mn | An industry-leading provider of integrated elderly care, Huakang Group’s holistic ‘home, community, institution’ care model connects home-based care, community services, and institutional support. They offer living models for diverse care needs including wellness complexes, community-embedded facilities, and specialised dementia care institutions. They’re also a pioneer in dementia care, operating Shanghai’s first specialised dementia care facility and contributing to research and policy development. The DBSF Impact Beyond Award will support a multi-pronged initiative to strengthen dementia and elderly care. This includes enhancing workforce training, establishing caregiver psychological support centres, improving care environments with interactive and intelligent rehabilitation tools, engaging families through education and support, and fostering cross-sector collaboration to elevate service standards. |
| Category: Caregiving | |||
| Evercare Health Limited | Hong Kong | SGD 500K | A leading health tech platform, Evercare bridges caregiver demand gaps by connecting healthcare professionals with families, hospitals and private elderly support services. Their comprehensive care coordination solution consists of a matching algorithm, care management platform and mobile apps that streamline staffing, communication and management, facilitating efficient and tailored healthcare delivery. The DBSF Impact Beyond Award will support the development of an AI-powered Medical Notes feature to enhance care delivery, the expansion of outreach to more families to enable more seniors to age in place, the recruitment of additional healthcare professionals and the expansion of their suite of home care services. |
| Life Circle Health Services | India | SGD 500K | Life Circle seeks to address India’s critical need for quality senior care. Through their tech-enabled platform and phygital training initiatives, Life Circle provides families with quality-assured home care solutions while creating sustainable livelihoods for caregivers through professional development programmes. Life Circle is also committed to empowering women and other underprivileged groups by professionalising them as geriatric caregivers. Life Circle is India’s only full-stack eldercare company combining training, certification, placement, and managed home care under one brand. The DBSF Impact Beyond Award will support the establishing of new training academies and digital training tools, the enhancement of its technology platform for caregiver management and onboarding, and the scaling of operations to multiple cities across India. |
This was announced at today’s DBSF Impact Beyond Dialogue, which gathered speakers from across different sectors – including Goh Wei Boon, Chief Executive, GovTech; Dr Fidah Alsagoff, Vice Chairman, Healthcare & Life Sciences (Global Partnerships), Temasek International Pte Ltd; DBS’ senior executives and the four Impact Beyond Award winners. The Impact Beyond Dialogue is a flagship platform by the DBS Foundation, which convenes key voices to exchange insights on pressing societal issues such as ageing, co-create ideas and unlock opportunities for collective action.
The discussions explored how ageing societies can harness the power of AI/ technology, innovation, and cross-sector collaboration to enable longer, healthier, and more dignified lives. Speakers shared insights and real-world examples from across Asia, highlighting the importance of human-centred design, inclusive access to technology, and the critical role of private-public-people partnerships in scaling sustainable impact.
Held at the DBS Auditorium at Marina Bay Financial Tower 3, the Dialogue was attended by some 220 invited guests including businesses, philanthropic foundations, and the bank’s private wealth, SME and institutional banking clients.
For more information on the DBS Foundation Impact Beyond Award, please visit: Impact Beyond Award Winners | DBS Foundation
ANNEX A: QUOTES FROM THE DBSF IMPACT BEYOND AWARD WINNERS
- “Evercare is guided by its Family First principle: to care for those who first cared for us. 90% of seniors want to age at home – winning the DBS Impact Beyond Award accelerates our mission to enable this, and bring healthcare into the home for thousands of families.” – Mr. Kenneth Wong, CEO, Evercare Health Limited (Hong Kong)
- "We are deeply honoured to receive the DBS Foundation Impact Beyond Award. This recognition strengthens our mission to build India’s eldercare infrastructure — one caregiver at a time. With DBS Foundation’s support, we will accelerate our efforts to train youth from underserved communities and ensure seniors receive the dignified care they deserve." – Mr. Anant Kumar, CEO, Life Circle Health Services (India)
- “Thank you, DBS Foundation, for seeing the promise in our work. This grant is more than just a milestone—it’s a testament that the Age-Tech solutions that we are developing at BOP are a step in the right direction to help seniors age well.” – Mr. Raymond Bo, CEO & Executive Director, iWOW Technology (Singapore)
- “We are very grateful to DBS Foundation for awarding us the Impact Beyond Award. This recognition reflects the Foundation’s commitment to supporting innovative enterprises that address the needs of the ageing societies. It also underscores its sense of social responsibility and dedication to tackling global ageing issues. The award will help strengthen Huakang Group’s industry influence and provide valuable resources to enhance our elderly care services, offering better professional skills training and physical and mental health care for more practitioners. This will ensure better care for the elderly and offer more support to families and communities.”” – Mr. Nie Jian Min, Chairman of Huakang Health Industry Group (China)
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About DBS Foundation
Established in 2014, DBS Foundation is committed to uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact. It aims to bring hope to those with less today, so no one is left behind and we can all face the future with confidence.
In 2024, DBS committed up to SGD 1 billion dollars over the next decade to support vulnerable communities. It also pledged to contribute 1.5 million employee volunteer hours over the same period.
Together with an ecosystem of like-minded partners, DBS Foundation seeks to create impact that goes beyond banking, beyond borders, and beyond generations.
For more information, please visit: www.dbs.com/dbsfoundation
