DBS Foundation Invites Applications for its 2024 Grant Award

DBS Foundation is inviting applications for its 2024 Grant, which provides funding to innovative, purpose-driven businesses tackling pressing social challenges across Asia.

Now in its tenth year, DBS Foundation is committed to uplifting the lives and livelihoods of vulnerable communities. This year, the grant will focus on scaling innovative and impactful solutions providing access to essential needs such as healthcare, basic education, and shelter, or equipping communities with the skills and opportunities to build better circumstances. Enterprises are eligible to apply for the grant until August 31, 2024.

The DBS Foundation Grant will help enterprises fund various growth initiatives, including entering new markets, R&D for new products, enhancing product or service offerings, and building the infrastructure required for growth. Beyond funding, recipients of the Grant can also tap into the bank’s expertise, resources, and networks for capacity-building, mentorship, and preferential banking solutions.

Since 2014, DBS Foundation has provided over SGD 17 million in grant funding to some 140 Businesses for Impact (BFIs) – businesses with a dual bottom line of profit and impact – to grow sustainably and create social and/or environmental impact. It has also nurtured 1,200 others via various development and support programs.

Read also - Mirae Asset MF Launches Nifty500 Multicap ETF

The DBS Foundation Grant seeks to address funding challenges faced by purpose-driven social enterprises and small-and-medium enterprises (SMEs). It bridges this gap by providing flexible capital tailored to their needs. Unlike conventional capital focused on near-term returns, the DBS Foundation Grant takes a long-term view on nurturing impact-driven enterprises. It provides a crucial runway for innovators to capitalize on and scale their models sustainably before profitability kicks in while helping these businesses align their mission with their growth strategy.small and medium

In 2023, 24 BFIs from across six markets were awarded the DBS Foundation Grant to create a positive impact and accelerate growth. These enterprises aimed to benefit one million people from underprivileged segments by increasing access to solutions and providing daily needs; abate and/or save 30,000 tonnes of greenhouse gas emissions; and collect, reduce, or recycle 50,000 tonnes of waste by the end of 2025. Indian businesses—Project Baala, Green Worms, Zerund Manufacturing, Karo Sambhav, and Sustainable Solutions (ReCircle)—were among the recipients of the grant. Enterprises such as Phool, Haqdarshak, and S4S Technologies have also been past recipients.

Azmat Habibulla, Managing Director - Group Strategic Marketing & Communications, DBS Bank India, said, “Through the DBS Foundation Grant, we support changemakers who trust their spark and pursue their passion to make a meaningful difference in the world. We back high-potential, high-impact enterprises and help accelerate innovations that address pressing societal and environmental challenges. As DBS Foundation marks its tenth anniversary in 2024, we continue to integrate these purpose-driven businesses into our ecosystem in a meaningful way, leveraging our collective strengths to drive an impact beyond banking.”

About DBS

DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia, and South Asia.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.

Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.