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Last Updated : Mar 26, 2020 01:00 AM IST | Source: Moneycontrol.com

DBS Foundation extends support to social enterprises in the wake of COVID-19 crisis

Successful applicants will not only receive grant funding of up to SGD 250,000 each, but also be supported to scale their business and build business resilience.

DBS Foundation, the first foundation in Singapore dedicated to championing social entrepreneurship, is calling for social enterprises across DBS markets in Asia - India, Taiwan, Singapore, Hong Kong, Indonesia, China, to apply for the 2020 DBS Foundation Social Enterprise (SE) Grant. Successful applicants will not only receive grant funding of up to SGD 250,000 each, but also be supported to scale their business and build business resilience especially in today’s challenging business environment. DBS will lend its support by raising awareness of the SEs through its various programmes and platforms, providing the SEs business opportunities, and assisting with capacity building.

Shoma Narayanan, Executive Director- Strategic Marketing & Communications said, “The 2020 DBS Foundation Social Enterprise Grant program aims to continue our efforts towards nurturing and strengthening the social enterprise ecosystem. In the current scenario triggered by the COVID-19 pandemic, we understand that social enterprises need holistic support to scale further. We hope that the initiative will allow entrepreneurs to pursue their goals and build innovative business models that tackle key social and environmental challenges.”

As part of the bank’s collective efforts to support individuals, businesses and communities impacted by the COVID-19 situation, DBS has been collaborating with DBS Foundation-supported social enterprises for relief measures across markets.

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DBS Foundation Social Enterprise Grant 2020

The DBS Foundation Social Enterprise Grant is open to social enterprises across Asia that have a business product or solution that has been validated by the market. Applicants must also have clear plans to scale up the business, as well as a demonstrated commitment to social mission with a roadmap to increasing social impact. Successful applicants can expect to receive up to SGD 250,000 in grants, as well as gain access to business and partnership opportunities, and mentorship by DBS executives. Applications received before 15 May 2020, 2359hrs (Singapore time, GMT +8) will be evaluated from July to September 2020, with the awarding of grants in November 2020. Applications received thereafter will be evaluated in the next cycle. For the first time, DBS Foundation is introducing a new Zero Food Waste category of grants for social enterprises with innovative solutions that contribute to the global target of reducing food waste.

Commenting on the grant programme, Vaibhav Tidke of S4S Technologies said, "The DBS Foundation grant is playing an important role in growing S4S in two new geographies to create livelihood opportunities for 50 new women agri-entrepreneurs. The grant also helped us to try two new nutrition-rich crops that can be preserved with solar technology. In the next 2 years, S4S plans to set up 50,000 tons capacity supporting over 2,000 farmers."

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First Published on Mar 26, 2020 01:00 am
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