DBS Foundation ramps up support for social enterprises (SEs) in asia | Bahasa

Indonesia, 20 May 2021 - DBS Foundation, the first foundation in Singapore dedicated to championing social entrepreneurship, is increasing the funding pool of its 2021 DBS Foundation Social Enterprise (SE) Grant Programme to SGD 3 million – more than double last year’s grant amount. This is the bank’s latest move in a series of heightened support measures aimed at supporting SEs in times of need as the pandemic persists and enabling them to continue creating positive social impact.

Karen Ngui, Group Head, DBS Strategic Marketing and Communications and Board Member of DBS Foundation, said, “Social enterprises play essential roles in improving lives and livelihoods while addressing key societal gaps at a systemic level. With the bigger grant quantum this year, we hope to support more SEs in the region during these especially challenging times, as they make bigger strides in delivering impact and enacting change from the ground-up.”

DBS Foundation SE Grant Programme: Helping early-stage SEs to scale

Now in its seventh year, the DBS Foundation SE Grant Programme is designed to grow and scale early-stage SEs i.e. businesses for impact – given their dual bottom-lines of profit and impact. In addition to grant funding of up to SGD250,000 each, successful applicants from the bank’s key markets (Singapore, Hong Kong, Taiwan, China, India and Indonesia) stand to benefit from a suite of holistic support measures from both DBS Bank and DBS Foundation such as capacity-building programmes, networking and publicity opportunities. It also includes access to DBS Foundation’s SE community for potential synergies with the broader ecosystem, such as peer learning and cross-SE collaborations.

The DBS Foundation SE Grant Programme has established a strong reputation and following over the years, with 2020’s cycle attracting over 800 applications. This year’s grant programme is open to SEs that have a market-validated business model, and a roadmap for growth in terms of achieving profitability and creating impact.

Given that food waste is a major contributor to greenhouse gas emissions, DBS Foundation SE Grant Programme has also created a"Towards zero food waste"programme for social entrepreneurs working in an effort to reduce greenhouse gas emissions and help to stop climate change by addressing the problem of food waste. Launched last year, “Towards zero food waste” seeks to support social impact businesses to address related problems, such as food waste and gaps in the food supply chain.

For the first time, this year’s grant programme will feature an exclusive “by invite” track where selected SEs from the bank’s key markets in Asia will be specially invited to apply for the DBS Foundation SE Grant Programme. DBS Foundation will join forces with the DBS Bank franchise as well as established ecosystem partners and platforms in each of these markets to curate, shortlist and recommend strong candidates, effectively tapping on their local market intelligence and networks to reach up-and-coming SEs.

All applications received before 15 June 2021, 23:59 hours (Singapore time, GMT +8) will be evaluated from mid-June to September, and applications received thereafter will be evaluated in the next grant cycle. The announcement and awarding of successful grantees will take place towards the end of this year. For more details on the DBS Foundation SE Grant Programme and guidance on applications, click here.

Doubling down on holistic support to fast-track high-potential SE's

Beyond nurturing SEs in early stages of growth, DBS Foundation is also redoubling efforts to provide selected high-potential SEs with bespoke mentorship and support to fast-track their growth. DBS Foundation will identify innovative SEs that demonstrate strong potential to scale, and help to expedite their progress by amalgamating the bank’s services, expertise and connections to provide customised, targeted and holistic support. This includes assigning each of these SEs a dedicated DBS relationship manager and a specially curated group of specialists from across the bank, who will work with the SEs to develop growth plans based on their unique needs, including but not limited to:

• Strategic advisory on fund-raising
• Assistance with banking and funding needs
• Connections to industry contacts and DBS Private Bank’s clients for investment and business opportunities, and
• Matching SEs with DBS’ senior leaders for mentorship opportunities

“Last year was a seminal year that not only brought many societal issues to the fore, but also highlighted the valuable role that SEs play in the community. Having journeyed alongside many SEs since the early stages of their growth, it is heartening to see how far they have come and the increasing need for these purpose-driven businesses to be able to deliver impact at scale. Creating social impact is an important part of DBS’ sustainability agenda, and collectively all of us at the bank are committed to helping these businesses for impact to make an enduring difference,” added Ngui.

To date, DBS has nurtured over 640 SEs in the region through a variety of means (including grant funding and other forms of capital support, bootcamps and masterclasses, and networking opportunities), and continues to work towards cultivating a stronger SE ecosystem. The bank also stepped up to boost support for the sector amid Covid-19’s emergence, collectively disbursing a combination of loans and grants totalling a record SGD 9 million in 2020. These include providing a working capital loan at preferential rates to ease cash flow needs, launching the inaugural DBS Foundation Business Transformation and Improvement (BTI) Grant to help SEs to retain jobs or transform their businesses, and funding early-stage start-ups through the DBS Foundation Social Impact Prize, amongst others.

Mona Monika, Head of Group Strategic Marketing & Communications, PT Bank DBS Indonesia, said, “Since 2015, 12 Indonesian social entrepreneurs have successfully received DBS Foundation Grants with a total grant funding of around IDR6.5 billion. With the holding of the DBS Foundation SE Grant Programme again this year, we hope to support more social entrepreneurs in Indonesia."

One of Indonesian social entrepreneurs who has shown strong growth is Kita Hebat which aims to contribute to creating a healthier life in the city of Medan. Through empowerment efforts to overcome unemployment, Kita Hebat focuses on processing food waste into environmentally friendly products, as well as empowering young women, adolescents with special needs, and low-income families while at the same time creating jobs. With its mission to continue to have a wider impact, Kita Hebat is committed to reinvesting or donating at least 50% of the net profit to achieve its social mission and empower beneficiaries and partners to become a professional workforce. DBS Foundation Grant continues to support the development of new products, as well as efforts to create inclusive jobs for marginalized groups. 

Sukendro Saputro, CEO of Kita Hebat, said, "We are committed to socializing the zero food waste movement to more people in Indonesia by providing training to several communities, schools, and home businesses. With the support of Bank DBS Indonesia, we feel more confident in running our programmes to recycle food waste in Medan, where we target to reduce waste by 120 tons by 2022, and launch environmentally friendly innovative products every two years, and distribute it to new areas that are not yet our reach. Funding provided by the DBS Foundation helps us to achieve our mission so far it has succeeded in touching many people to be empowered. We hope that Kita Hebat can continue to expand its positive impact on many people through the innovations it creates."

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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 “World’s Best Bank” by Euromoney, “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 12 consecutive years from 2009 to 2020.

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 SG50 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 29,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.