DBS Foundation extends grant programme to help SMEs

Singapore

THE search is on for small and medium-sized enterprises (SMEs) with innovative sustainability solutions that address issues such as energy consumption and waste, among others.

DBS Foundation on Thursday (Apr 14) announced the launch of a new grant programme, DBS Foundation SME Grant Programme, to support such firms looking to kickstart their transition towards becoming more sustainable businesses.

Grant awardees stand to receive up to S$100,000, structured mentorship and advisory support.

Joyce Tee, group head of SME Banking at DBS and a board member of DBS Foundation, said: "As the world emerges from the shadow of Covid-19, there is a renewed sense of urgency among SMEs to make a positive impact beyond themselves even as they grow their businesses.

"While our engagement with SME owners has revealed their keen interest in adopting more sustainable business models, they are often caught up with operational matters and may lack the bandwidth or resources to begin.

"This is a gap that the DBS Foundation aims to fill with the new SME Grant Programme, which will help SMEs take their first step towards transforming into businesses for impact. Beyond grant funding, DBS will also avail our suite of sustainable financing solutions, ecosystem platforms and advisory services to help the most promising SME awardees accelerate their transformation efforts."

Karen Ngui, group head of Strategic Marketing and Communications at DBS and a board member of DBS Foundation, said: "Businesses are increasingly expected to be a force for good in these post-pandemic times, and with the new DBS Foundation SME grant programme, we hope to encourage and enable more SMEs to take a step forward in their sustainability journey."

The initiative is an extension of DBS Foundation's ongoing support for social enterprises (SEs).

The DBS Foundation SE Grant Programme is into its eighth year. It was designed to plug the funding gap for startups that are solving critical social or environmental issues through their businesses, and to empower them to scale up to create deeper impact.

• The application window for both grant programmes will commence from Apr 15, 2022 to May 31, 2022. For more info, visit https://www.dbs.com/foundation/featured/dbs-foundation-grant-programme