Regional startup competition aims to raise awareness and build culture of social entrepreneurship in Asia
Participants can meet potential partners and investors; enjoy mentorship sessions by experienced social entrepreneurs
NUS Enterprise and DBS Bank have launched the DBS-NUS Social Venture Challenge Asia, a regional startup competition that aims to raise awareness and build a culture of social entrepreneurship in Asia.
The competition will be open to the public and participants from the region will be invited, the two said in a joint statement.
NUS Enterprise is organising the competition, including setting up the judging panel, marketing the competition to regional universities, sourcing for mentors and managing outreach events.
As a partner, DBS has committed S$500,000 to support Social Venture Challenge Asia over the next three years. It is also mentoring the teams and will assist with the marketing of the competition.
“Through this collaboration with the National University of Singapore (NUS), we hope to raise greater awareness on how businesses can indeed create social impact,” said Karen Ngui, group head of Strategic Marketing & Communications at DBS Bank.
“In the coming months, we will tap into our network to encourage and facilitate participation in the DBS-NUS Social Venture Challenge from budding social entrepreneurs in Singapore and all around the region.
“As a leading Asian bank, DBS is committed to being a force for good in the communities we operate in and believe that social enterprises can provide inclusive and innovative solutions in a fast growing Asia,” she added.
From September 2013 to June 2014, participants of this challenge will benefit from a structured learning platform to equip them with the knowledge and skills to start a social venture, NUS Enterprise and DBS said.
This includes networking events where they can meet potential partners and investors, mentorship sessions by experienced social entrepreneurs and workshops to provide hands-on learning. Other events such as public talks and visits to social ventures will help to boost public education in the area of social entrepreneurship.
The DBS-NUS Social Venture Challenge Asia will culminate in June 2014, with the finals and award ceremony.
“NUS has built up a wealth of experience, industry connections and international networks in the area of social entrepreneurship,” said Professor Wong Poh Kam, director of the NUS Entrepreneurship Centre.
“This is a valuable resource for budding social entrepreneurs, who need assistance in growing their social venture. Through the DBS-NUS Social Venture Challenge Asia, we offer a structured and holistic approach to support social entrepreneurship.
“This will allow NUS and DBS to jointly influence and inspire social entrepreneurs, and make a significant impact on the social innovation scene across Asia,” said Prof Wong.
The DBS-NUS Social Venture Challenge Asia kicked off Social Venture Week 2013, a week-long public programme in Singapore dedicated to social entrepreneurship. The full calendar of events of Social Venture Week can be found here.
Empowering volunteerism the social way
Social Innovation: A new frontier
Sustainable social start-ups and the ecosystem
Women’s issues and how technology can save lives
For more technology news and the latest updates, follow @dnewsasia on Twitter or Like us on Facebook.