Money & Banking

DBS Bank India ties up with Social Alpha to incubate social entrepreneurs

Surabhi Mumbai | Updated on August 12, 2019 Published on August 08, 2019

FILE PHOTO   -  REUTERS

DBS Bank India has tied up with technology business incubator Social Alpha to mentor enterprises that focus on sectors such as inclusion, healthcare, and environment. DBS Bank will also give a total programme grant of ₹1 crore”. DBS Bank will mentor and support three ventures over the next 18 months. This includes Even Cargo, which has trained and employed women as delivery personnel for e-commerce firms; Trust Circle, a mental healthcare start-up that utilises mobile AI technology to improve emotional resiliency; and Incredible Devices, a medical device start-up company aimed at making safe and affordable healthcare solutions.

“We have been working with social enterprises for several years. But our experience showed that some of these entrepreneurs could not scale their businesses or remained somewhat sub-optimal in their ability to grow. So, we want to encourage social entrepreneurs who are sustainable by generating enough returns to build scale, and we decided to look for a partnership with somebody who was working with scaled or scaleable social entrepreneurs,” said Surojit Shome, CEO, DBS Bank India.

Published on August 08, 2019
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