SINGAPORE – Grants value up to $100,000 can be made obtainable for small and medium-sized enterprises (SMEs) which are creating modern sustainability options, beneath a new programme launched by DBS Foundation.
The programme was introduced final week and goals to help corporations that suggest to handle challenges in considered one of three areas: lowering power consumption, lowering waste or creating sustainable provide chains.
Besides the monetary assist, the businesses may also get structured mentorship and advisory help.
DBS Foundation and the financial institution’s SME banking staff will work with the grant recipients to map out key milestones and impression outcomes throughout a two-year horizon.
The corporations can even get assist in scaling their companies, together with a variety of options associated to working capital, provide chain financing and digital transformation.
But to get the grant, corporations that apply should present that their options are modern and scalable.
They should even have clear plans to combine sustainability into their enterprise operations, whereas having a powerful management staff with demonstrated dedication in the direction of constructing a sustainable enterprise.
The SMEs should be included in Singapore, Hong Kong, Taiwan, India or Indonesia.
DBS group head of SME banking Joyce Tee stated: “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.”
But she noticed that engagements with SME homeowners additionally confirmed that they’re usually caught up with operational issues and may lack the sources to start their sustainability journey, though they’re interested by adopting extra sustainable enterprise fashions.
“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,” she stated.
“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.”
Besides this grant programme, DBS Foundation additionally has one other scheme for social enterprises, which is now in its eighth yr.
The programme goals to plug the funding hole for start-ups that remedy important social or environmental points via their companies. This consists of supporting these with options to sort out meals waste points.