DBS champions social entrepreneurship across Asia

The 2019 cycle of the Development Bank of Singapore Foundation Social Enterprise (SE) Grant is now open for application.

The grant is open to social enterprises across Asia with a business product or solution that demonstrates commitment to a social mission. The product must have a clear roadmap towards scaling social impact, as well as market validation with business scaling plans.

In a press statement, DBS said applications received before July 31 will be evaluated from August to September 2019. The grants will be awarded in November 2019. Applications received on August 1 and thereafter will be evaluated next year.

Photo courtesy: DBS
Photo courtesy: DBS

Launched in 2014, the DBS Foundation Social Enterprise (SE) Grant has supported more than 100 SEs from Singapore, China, Hong Kong, India, Indonesia and Taiwan. These SEs have deployed social innovations across the region in areas such as healthcare, social inclusion, environment protection, waste management, food sustainability, as well as employment and income generation for the marginalised.

Eight of DBS Foundation supported SEs were also named in the 2018 and 2019 Forbes 30 under 30 lists.

“At DBS, we believe that social enterprises should be commercially viable businesses that are driven by a strong sense of purpose and social mission,” said Karen Ngui, Board Member of DBS Foundation and DBS’ Head of Group Strategic Marketing & Communications. “To help these businesses for good scale and grow their impact, in addition to grant funding, we also provide capacity building incubation programmes, bespoke mentoring and access to a broader network.”

2018 saw a substantial growth in applications in the region.

Applications from India and Indonesia doubled, while those across Asia increased 10 percent year-on-year.