Earlier this year, DBS Foundation kicked off the inaugural DBS Social Innovators 2016. The HK$2 million program provides funding and incubation support to social innovators to solve various problems through social entrepreneurship.
Over the past three years, DBS Foundation has promoted the development of social enterprises in Hong Kong amounting to HK$6 million. The Foundation works with social enterprises and innovators in Singapore, India, Indonesia, China, Taiwan and Hong Kong on programs ranging from venture challenges, learning forums, intensive incubation, grant support, financing and skilled volunteer mentoring.
The goal of the DBS Social Innovator program is to solve social issues using innovative ideas and technology, a reflection of DBS Foundation’s commitment to support the creative industry.
The DBS Social Incubators Program is divided into three phases, as outlined below:
Phase 1 Programme Milestones:
- Selected from 150 entries, 20 shortlisted teams were invited to participate in Pitchathon
- 20 shortlisted teams introduced their ideas or solutions to 100 sector representatives and Judges
- The Judging Panel and participating audience voted to select 10 Finalists entering the 2nd stage
Phase 2 Programme Milestones:
- 10 Finalists received HKD 20,000 Acceleration Fund and 3 months of incubation support for kick-starting the initial stage of development e.g. prototyping, market research and product test etc.
- 10 Finalists participated in the Final Pitch on 28 July; competed for four Champion Prizes with a HKD450, 000 start-up fund and one year incubation support each.
Phase 3 Programme Milestones:
- To implement the awarded innovative projects
About DBS Foundation
As a corporate foundation in Asia solely dedicated to championing social entrepreneurship, DBS Foundation contributes towards building a more inclusive society so that those at society’s margins can enjoy productive and rewarding lives. The Foundation is an endeavor from DBS Bank to make an even greater impact in addressing Asia’s evolving social needs. Visit us at: www.dbs.com/dbsfoundation