Making a Difference: DBS Foundation's Impact on Social Entrepreneurship

Beyond CSR DBS Foundation empowers initiatives tackling major societal and environmental issues.

The DBS Foundation, established by DBS Bank in 2014 with an initial fund of SGD 50 million, targets social entrepreneurship in Asia. Its creation coincided with Singapore's 50th anniversary, signalling a commitment to regional social change. Over the years, this commitment has only intensified, with the Foundation playing a pivotal role in driving social innovation and community resilience.

Foundation's Evolution and Initiatives

Unlike typical corporate social responsibility (CSR) efforts, the DBS Foundation empowers businesses and initiatives addressing significant societal and environmental challenges. It champions the idea that businesses can operate profitably while positively impacting society. Since its inception, the Foundation has led the charge in supporting enterprises that combine innovation with a clear social purpose.

In 2022, the Foundation broadened its scope by launching the Community Impact chapter. This new direction emphasises enhancing digital and financial literacy among the underserved, ensuring they are equipped for the future. Additionally, it aims to increase food security and resilience, addressing urgent needs in these areas.

The Foundation operates with a vision of fostering collective action for a sustainable future. It believes in the power of collaboration to tackle environmental and social issues, supporting businesses and communities in creating a meaningful impact.

Since its inception, the DBS Foundation has awarded over SGD 10 million in grants to more than 90 businesses and provided developmental support to an additional 800.

Impact and Programs

Since its launch, the DBS Foundation has been a crucial support system for its partners, focusing on impactful collaboration across various sectors. It has established itself as a leader in nurturing impact-driven enterprises with several key initiatives:

• DBS Foundation Fellows: Supports entrepreneurs focused on impactful and innovative projects.

• Grant Awardees: Provides funding to organisations developing novel solutions to societal problems.

• Hungry for Change Challenge 2023: An initiative directly confronting food security and sustainability challenges.

In 2022, DBS Bank pledged an extra SGD 100 million to continue its mission of enhancing lives across Asia. Since its inception, the DBS Foundation has awarded over SGD 10 million in grants to more than 90 businesses in the area while providing developmental support to an additional 800. Employing a unified "One Bank" strategy, the Foundation leverages DBS Bank's vast resources to offer a comprehensive support system that includes advocacy, skill development, capacity enhancement, and access to business opportunities. 

Thanks to the Foundation's efforts, numerous businesses have transitioned from initial startups to established, sustainable enterprises that not only excel in their sectors but also drive societal progress. For instance, Singapore's Homage and Treedots, which received grants from the DBS Foundation in 2016 and 2018, respectively, have shown remarkable growth. Homage now operates with a network of over 6,000 vetted, trained, and chosen care professionals.

DBS's motto, "Live more, bank less," promotes impactful societal contributions beyond banking via the DBS Foundation, aiming to improve society one project at a time. Its strong support for social entrepreneurship and efforts to empower the underserved are creating meaningful change, paving the way for a thriving future for all.