DBS Foundation awards funding totalling SGD 4.5 million to 22 businesses for impact in the latest instalment of its annual grant programme
Singapore.11 Feb 2025
Singapore, 11 Feb 2025 - DBS Foundation (DBSF) has selected 22 businesses for impact – chosen from over 1,500 applications across its key markets[1] – to receive grant funding totalling SGD 4.5 million with which to scale their businesses and benefit more vulnerable communities. All in, their work is projected to collectively benefit over 800,000 beneficiaries over two years.
These grantees share DBSF’s mission of uplifting the lives and livelihoods of vulnerable segments, in particular, by providing essential needs (e.g. basic education, healthcare, clean water) and/or fostering inclusion through upskilling, employment and other opportunities. With ageing impacting many parts of Asia and a key priority for DBSF, a quarter of this year’s grantees are focused on tackling the needs of ageing societies. This includes developing innovative solutions to address elderly-related risks such as the growing incidence of falls, or helping communities to enjoy quality “living spans” – improved physical, financial, mental and social health – as they age.
The grant programme builds on other efforts by DBSF to scale longevity businesses as societies age. Among them is the Impact Beyond Award – launched last year, this seeks to unearth visionary businesses with solutions that can go towards enabling everyone to age with dignity, purpose and joy.
The DBSF grant programme supports innovative social enterprises and small-and-medium enterprises (SMEs) that create positive impact. It does this by equipping them with the capital and know-how to scale. Grant funding aside, grantees also gain access to holistic support from the bank including targeted guidance and mentorship, capacity-building, networking opportunities and more.
Since the launch of the grant programme in 2015, DBSF has disbursed grants totalling SGD 21.5 million[2] to some 160 grantees. The grant programme’s alumni have gone on to raise 10x in further funding for themselves.
Karen Ngui, Head, DBS Foundation and DBS Group Strategic Marketing and Communications, said: “As a purpose-driven bank, we recognise that we have a social license to uphold, and a responsibility to uplift the communities that we live and work in. These DBS Foundation grantees share our desire to do well by doing good, and bring with them innovative solutions that benefit especially the vulnerable segments of society. We’re committed to supporting these businesses by equipping them with the capital, know-how and acumen to scale and achieve their full potential. With many societies fast-ageing today, we hope their solutions can go towards enabling everyone to not just live longer, but also to live more purposefully and fulfilled.”
Three of the 22 grantees are from Singapore (refer to the appendix for full list of grantees):
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
These grantees share DBSF’s mission of uplifting the lives and livelihoods of vulnerable segments, in particular, by providing essential needs (e.g. basic education, healthcare, clean water) and/or fostering inclusion through upskilling, employment and other opportunities. With ageing impacting many parts of Asia and a key priority for DBSF, a quarter of this year’s grantees are focused on tackling the needs of ageing societies. This includes developing innovative solutions to address elderly-related risks such as the growing incidence of falls, or helping communities to enjoy quality “living spans” – improved physical, financial, mental and social health – as they age.
The grant programme builds on other efforts by DBSF to scale longevity businesses as societies age. Among them is the Impact Beyond Award – launched last year, this seeks to unearth visionary businesses with solutions that can go towards enabling everyone to age with dignity, purpose and joy.
The DBSF grant programme supports innovative social enterprises and small-and-medium enterprises (SMEs) that create positive impact. It does this by equipping them with the capital and know-how to scale. Grant funding aside, grantees also gain access to holistic support from the bank including targeted guidance and mentorship, capacity-building, networking opportunities and more.
Since the launch of the grant programme in 2015, DBSF has disbursed grants totalling SGD 21.5 million[2] to some 160 grantees. The grant programme’s alumni have gone on to raise 10x in further funding for themselves.
Karen Ngui, Head, DBS Foundation and DBS Group Strategic Marketing and Communications, said: “As a purpose-driven bank, we recognise that we have a social license to uphold, and a responsibility to uplift the communities that we live and work in. These DBS Foundation grantees share our desire to do well by doing good, and bring with them innovative solutions that benefit especially the vulnerable segments of society. We’re committed to supporting these businesses by equipping them with the capital, know-how and acumen to scale and achieve their full potential. With many societies fast-ageing today, we hope their solutions can go towards enabling everyone to not just live longer, but also to live more purposefully and fulfilled.”
Three of the 22 grantees are from Singapore (refer to the appendix for full list of grantees):
- SpedGrow was founded by a team who used to work at schools for individuals with special needs, and who noticed the lack of tailored financial literacy education for this segment. The company is focused on equipping individuals with special needs (primarily children and youth) with financial literacy skills. It has created a unique solution that combines a functional curriculum, proprietary inclusive educational toys and a user-friendly app.
- Opsis leverages artificial intelligence (AI) to assess a person’s mental well-being. Its solution enables accurate early detection of mental health conditions such as burnout, acute stress and depression. Its multi-modal AI engine seeks to determine a person’s mental well-being by analysing their facial expressions.
- SoundEye aims to detect and prevent falls – a growing issue among the elderly, particularly those living alone. Falls are a major cause of injury and death among seniors. SoundEye’s fall detection technology integrates advanced depth imaging and sound recognition technologies. The founder was inspired to form the company after his mother-in-law fell from her bed while being hospitalised for an operation.
Beyond supporting businesses of impact, DBSF also works with like-minded partners across the private, public and people sectors to drive various support programmes for vulnerable communities. In November last year, DBSF deployed SG 88 million to launch 15 new programmes in its key markets, aimed at helping those in need to build towards better circumstances over time.
These efforts are part of DBS’ commitment to ramp up support for the vulnerable. It has pledged up to SGD 1 billion and 1.5 million employee volunteering hours over ten years to this purpose.
For more information on DBSF’s work and the DBSF grant programme, please visit: https://www.dbs.com/foundation/grants.html
APPENDIX: Recipients of the 2024 DBS Foundation Grant Programme
| Market | Grantee | Description |
|---|---|---|
Singapore | SoundEye | Creating innovative solutions to detect and prevent falls, improving elderly safety and well-being. The grant funds development and launch of a new smart home light. |
| Opsis | Developing healthcare-grade emotion AI technology for mental health screening. The grant funds a new mobile app to improve elderly access to mental health screening. | |
| SpedGrow | Educating persons with special needs in financial literacy using inclusive toys, a functional curriculum, and a user-friendly app. The grant funds development of toy kits connecting with their digital program. | |
Hong Kong | The Project Futurus | Promoting positive ageing through education, advocacy, and programs like dignity dining and sensory experiences. The grant funds inclusive dining development for those with chewing/swallowing difficulties. |
| Motive Force | Advancing elderly and disabled well-being through gerontechnology, rehabilitation, and primary healthcare solutions. The grant increases production capacity of a remote fall prevention rehabilitation solution. | |
| Rhys Workshop | Empowering marginalized communities with sewing training and remote work opportunities. The grant scales up production by purchasing machines and providing training/employment opportunities. | |
Taiwan | Silver Gate Delivery | Providing efficient elderly meal delivery with tech-driven feedback and an online store. The grant expands market coverage by enhancing services and acquiring new clients. |
| DuoFu Travel Service | Offering accessible travel solutions for the elderly and disabled. The grant develops more accessible travel options and expands service capacity. | |
| DOMI Earth | Streamlining business models to save resources, redirecting them to support vulnerable groups. The grant raises awareness of social/environmental issues and acquires new clients. | |
China | Rainbow Medical Tech | Enhancing paediatrics diagnosis with AI to improve healthcare inclusion for underprivileged children. The grant develops and promotes AI-powered facial recognition technology for early diagnosis. |
| Yibao Technology | Creating inclusive insurance products and financial education. The grant develops and promotes innovative solutions for inclusive insurance and customer service through online platforms. | |
| YinShan Health Tech | Providing inclusive special education for children. The grant promotes inclusive education through exhibitions, teacher training, and demonstration zones. | |
| CFDP-LEYE Information | Empowering the physically challenged workforce. The grant enhances the online platform, expands recruitment reach, and increases registrations. | |
Indonesia | Komodo Water | Delivering sustainable water access and management solutions. The grant scales up their business to expand to new locations and increase capacity. |
| Aliet Green | Producing regenerative organic food ingredients with a focus on women's empowerment. The grant focuses on application development and capacity building for sustainable farming methods. | |
| Adena Coffee | Empowering local communities through sustainable coffee practices. The grant optimizes supply chain processes, builds facilities, and expands access to global markets. | |
| Java Fresh | Connecting smallholder farmers and marginalized women to global fruit markets. The grant supports research & technology, enhances facilities, and empowers farmers to meet global standards. | |
| PT Kreasi Anak Indonesia (GandengTangan) | Providing accessible financing and financial education to empower MSMEs. The grant strengthens and extends strategic partnerships. | |
India | Hasiru Dala Innovations | Building a world with no waste through Inclusive Circularity. The grant upgrades plastic waste processing capacity and enters new markets. |
| Atypical Platform | Generating livelihoods for people with disabilities. The grant runs skilling centers and develops inclusive training curriculum. | |
| NeuroSynaptic Communications | Delivering healthcare access in rural areas through digital health and telemedicine. The grant establishes two new ReMeDi centers. | |
| Last Mile Care | Offering affordable healthcare to blue-collar workers in industrial and workplace settings. The grant will be used to establish three phygital healthcare service units to serve low-income, peri-urban communities. |
[1] Singapore, Hong Kong, Taiwan, China, India, Indonesia
[2] This figure includes this latest instalment of the DBS Foundation grant programme
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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
