DBS Foundation is offering $3 million in grants for the 2021 cycle of its Social Entreprise (SE) Grant Programme - its largest sum to date and more than double the amount from the year before.
The programme, now in its seventh year, aims to grow and scale early-stage SEs. Successful applicants will be awarded grant funding of up to $250,000 each. In addition, successful applicants from the bank’s key markets (Singapore, Hong Kong, Taiwan, China, India and Indonesia) are able to access support measures from both DBS Bank and DBS Foundation such as capacity-building programmes, networking and publicity opportunities.
Applications for the 2021 grant cycle are open until June 15, with the winning applicants to be selected towards the end of the year. Over 800 applications were submitted for the 2020 cycle.
This year’s grant programme will see the debut of a “by invite” track where selected SEs from the bank’s key markets in Asia will be specially invited to apply for the programme. DBS Foundation, together with DBS Bank and other partners will curate a shortlist of up-and-coming SEs for the track.
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This year’s programme will also retain the "Towards Zero Food Waste” category, which debuted in last year’s cycle. The category is aimed towards SEs working towards reducing greenhouse gas emissions and helping to stem climate change by addressing the issue of food waste.
In addition to the grant programme, DBS Foundation also states that “high-potential” SEs that show innovation and strong potential to scale will be granted bespoke mentorship and customised support to fast-track their growth, including assistance with banking and funding support as well strategic advisory on fundraising.
Past awardees of the SE Grant Programme include food redistributor TreeDots, specialty coffee company Brettr Barista, and urban farming movement Edible Garden City.
To date, DBS says it has provided support to 640 SEs in the region via grant funding and other forms of capital support, bootcamps and masterclasses, and networking opportunities.
Karen Ngui, group head, DBS strategic marketing and communications, says that the bigger grant quantum of this year's SE Grant Programme will support more SEs in the region amidst the challenging environment.
“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,” adds Ngui, who also sits on the board of DBS Foundation.
