Startups with a business idea to solve social and environmental issues can apply to win a $100,000 cash prize and mentorship from DBS senior management.

Alanna Tan  |  Singapore
Published 2019-09-05 17:21:02

DBS and Singapore Management University (SMU) have tied up to launch a global competition for social impact startups.

As a part of the Lee Kuan Yew Global Business Plan Competition, the DBS Foundation Social Impact Prize will zero in on early-stage ventures that present sustainable and scalable solutions to social and environmental issues.

Applicants will be in the running to receive a S$100,000 cash prize, along with other forms of non-monetary support worth about S$50,000, including:

  • Access to DBS Foundation’s Capacity building programmes
  • Marketing and brand awareness opportunities through features on DBS Foundation website and events
  • Use of DBS office spaces in Singapore to hold launch or community events
  • Mentorship from DBS’ senior management, and access to DBS Foundation network and social enterprise community

Application is currently open until 17 November 2019.

After 50 finalists are selected and announced in January 2020, they will take part in an ‘Immersion Week’ and compete for the grand prize in March.

The winning startup will receive support to go commercial between May and July 2020, and ultimately be presented at the World Cities Summit.

Interested parties can apply here.

Featured Image Credit: Evoware

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