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HONG KONG,27 April 2016 -

On the back of DBS Bank’s successful HKD6-million funding support of social enterprises in Hong Kong over the past three years, DBS Foundation kicked off the inaugural DBS Social Innovators 2016 (the Programme) this year. The HKD2-million Programme seeks to provide funding and incubation support to social innovators to transform their innovative ideas into sustainable and viable business solutions. The Programme is managed and operated by the Hong Kong Council of Social Service (HKCSS).

Debut of 10 New Stars of Social Innovation
The primary objective of the Programme is to drive social innovation through the use of design and technology. Out of approximately 150 entries, 20 shortlisted teams were invited to a Pitchathon on 27 April 2016 at InnoCentre in Kowloon Tong, where they showcased their ideas and solutions before a panel of judges and over 100 sector representatives.

The shortlisted teams include professionals from diverse industries, such as pharmacists, designers, programmers and IT experts. They will collaborate with local NGOs and social enterprises to develop and kick-start a series of social innovation programmes, like leveraging 3D printing technology to design prosthetics and rehabilitation products, adopting artificial intelligence in elderly care, introducing an electronic drug counseling system, solutions in a sharing economy, like tableware rentals, and more.    

Today’s ceremony was officiated by Dr David Chung, Under Secretary for Innovation and Technology Bureau, HKSAR, Mr Alex Cheung, Managing Director & Head of Institutional Banking Group, DBS Bank (Hong Kong) Limited. and Mr Chua Hoi-wai, Chief Executive of HKCSS.

Alex Cheung, Managing Director and Head of Institutional Banking Group of DBS Bank (Hong Kong) Limited, said, “Hong Kong’s innovation and technology sector has been flourishing and developing rapidly over the years. Digital innovation, especially FinTech, is not just a trend but is at the heart of transforming the future of banking and finance. As a market leader, DBS is committed to fostering a supportive ecosystem for innovative social enterprises in Asia to leverage digital innovation in tackling community and societal issues. We are pleased to see that social innovators and social enterprises are embracing and promoting innovative technology to drive positive change for the future.”

Dr David Chung said, “I wish to see more collaboration between public and private organisations and hence greater room for these innovators to bloom and make their dreams come true.”

Mr Chua Hoi-wai emphasised that cross-sector collaboration among different sectors is the key to success. HKCSS will continue to create favourable factors for social innovations.

Of the shortlisted teams, the panel of judges and the audience voted to send 10 finalists to the second phase of the Programme. Each of the selected teams will receive a HKD20,000 “Acceleration Fund” and three months of incubation support to kick-start their initial stage of development, including prototyping, market research, product testing and more. HKCSS will provide three months of intensive incubation support, assign experienced business consultants to work with the teams on refining their social objectives and business strategies. The 10 finalists will then compete in the Final Pitch on 28 July 2016 for four Champion Prizes of HKD450,000 each for their startup business and a further one year of incubation support.

Photo Captions

Photo 1: (from the left) Mr Chua Hoi-wai, Chief Executive of HKCSS, Dr David Chung, Under Secretary for Innovation and Technology Bureau, HKSAR, Mr Alex Cheung, Managing Director & Head of Institutional Banking Group, DBS Bank (Hong Kong) Limited and Patsian Low, Head of DBS Foundation, announced the 10 Finalists of DBS Social Innovators 2016.

Photo 2: The 10 shortlisted teams took a group photo together with the adjudicators and the officiating guests. Teams include professionals from diverse industries, such as pharmacists, designers, programmers and IT experts. They will kick-start a series of social innovation programmes, like leveraging 3D printing technology to design prosthetics and rehabilitation products, adopting artificial intelligence in elderly care, introducing an electronic drug counseling system, solutions in a sharing economy, like tableware rentals, and more.

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About DBS Social Innovators 2016
Succeeding to three consecutive years of grant support to promote development of social enterprise in Hong Kong, DBS Foundation allocates HKD 2 million to launch DBS Social Innovators 2016 www.dbs-socialinnovators.hk, to provide funding and incubation support to social innovators, NGOs, social enterprises and civil organisations to kick-start their social innovation projects. The Programme consists of three phases:

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. DBS Foundation works with Social Enterprises and Social Entrepreneurs in Singapore, China, Hong Kong, Taiwan, India and Indonesia with programmes ranging from venture challenges, learning forums, intensive incubation, project grant support, financing and skilled volunteer mentoring. 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
Reach us on: dbsfoundation@dbs.com 

About HKCSS
The Hong Kong Council of Social Service is a federation of non-government social service agencies of Hong Kong. We were established in 1947 with the aim to plan and coordinate large scale relief works and social welfare after the Second World War. In 1951, we became a statuary body under the ordinance, chapter 1057. The Council has since become an essential partner of the Hong Kong Government in social welfare and development. Today we represent more than 400 Agency Members, providing over 90% of the social welfare service through their 3,000 operating units in Hong Kong. www.hkcss.org.hk

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