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HONG KONG,29 March 2016 -

Applications for the DBS-NUS Social Venture Challenge Asia 2016 (SVC Asia), launched by NUS Enterprise and DBS Foundation, are now being accepted. The deadline for applications is 15 May.

This is the third consecutive year of this Asia-wide business plan challenge. SVC Asia aims to identify and support new social ventures that demonstrate scalability, sustainability and the potential to make significant social impact across the region. More than 300 individuals and corporate partners from the region have come on board this year, as judges, mentors, facilitators and speakers.

During the next five months, SVC Asia participants will learn more about starting a social enterprise through regional workshops and online resources. These workshops and resources are supported by partners located in Singapore, Taiwan, Hong Kong, China, Indonesia, Cambodia and Myanmar. Semi-finalists are flown to Singapore to receive coaching and one-to-one mentoring, before undergoing two rounds of judging in August 2016.

The winners will be awarded with prizes totalling more than SGD 170,000 (over HKD 935,000) as seed capital for their social ventures. Following the challenge, they will be further supported by DBS Foundation, NUS Enterprise and other SVC Asia partners to achieve greater success.

Over the past two years, the numbers of teams and participating countries have increased significantly. In 2014, over 400 entries were received from 20 countries. In 2015, this increased to some 680 entries from 30 countries. This demonstrates the growing interest in social entrepreneurship and solutions that address development needs in Asia. In particular, we have seen strong enterprises emerge in the areas of education, healthcare, agriculture, web/mobile and the environment.

For further information, please visit: http://socialventurechallenge.asia

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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

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