Deadline: 17 November 2019
DBS Foundation is seeking applications for its Social Impact Prize to identify sustainable and scalable business solutions that help address crucial social problems and make cities of the future more inclusive, healthier and greener.
DBS Foundation is an endeavour from DBS Bank to make an even greater impact in addressing Asia’s evolving social needs. The Foundation believes that businesses can create impact by finding innovative solutions to social problems while also pursuing a profit bottom line.
DBS Foundation supports such social enterprises (SEs) – businesses for good with capacity building, grant support, financing and mentoring. To date the Foundation has awarded grants to over 100 SEs and nurtured 300+ SEs through other support programmes.
DBS Foundation Social Impact Prize is awarded to innovative business plans / start-ups / early-stage ventures that address pertinent social challenges faced by Asia today.
DBS Foundation collaborate with like-minded partners to identify and award innovative social enterprises at the country level in Singapore, Hong Kong, India, Indonesia, China and Taiwan. At a global level, they reach out through a programme from SMU’s Institute of Innovation and Entrepreneurship.
The DBS Social Impact Award in Hong Kong is an endeavour from DBS Bank to identify early-stage enterprises that address social issues with innovative business ideas. DBS Bank collaborates with different partners in the ecosystem to identify and nurture social innovators that enable us to live larger than themselves and work towards a better world.
Five DBS Social Impact Awards are being awarded to SEs in Hong Kong in 2019 with a total prize money of HK$250,000.DBS Hong Kong has partnered and given out awards with Hong Kong Retail Management Association to identify solutions in green retail space; Golden Age Foundation for smart ageing solutions, Good Seed for design solutions that do good, Fullness Social Enterprise Society to identify business ideas that create social impact.
Award Information
The award of SGD 150,000 includes prize money of up to SGD 100,000 along with non-monetary support such as:
- Access to DBS Foundation’s Capacity building programmes
- Awareness building through features on DBS Foundation website and events Extending use of DBS office spaces (when in Singapore) for launch / community events etc
- Access to DBS Foundation network and social enterprise community
DBS Foundation is looking for
If applicants have a business idea that can help solve crucial social issues facing their cities, please apply with an executive summary detailing:
- What social challenge does your business solution address and why is it important to solve?
- How will your business idea address and solve this challenge?
- How will you ensure impact created by executing your idea is sustainable, scalable and measurable?
Note: Social impact of applicants business plan must have applicability in Asia.
Evaluation Criteria
Along with the overall evaluation criteria set for the Global Business Plan Competition, applicants entry will also be evaluated on the following criteria:
- Identification of the social problem.
- Creativity in addressing the social challenge and stakeholders involved.
- Measurement and sustainability of social impact.
- Business solution with scalable social enterprise model.
How to Apply
Applicants can apply online via given website.
For more information, please visit https://www.dbs.com/foundation/our-support/social-impact-prize?pid=sg-group-pweb-foundation-cardtiles-social-impact-prize