DBS Foundation and NUS Enterprise-The DBS-NUS Social Venture Challenge Asia: Inviting Applications to identify and support innovative new ideas and existing social ventures that have the potential to generate positive, scalable and sustainable social impact.

Donor Name: DBS Foundation and NUS Enterprise-The DBS-NUS Social Venture Challenge Asia
Funding name: The DBS-NUS Social Venture Challenge Asia

Funding brief: The DBS-NUS Social Venture Challenge Asia is an Asia-wide competition for social enterprises, open to any member of the public. Organized by NUS Enterprise and DBS Foundation, the Challenge aims to identify and support innovative new ideas and existing social ventures that have the potential to generate positive, scalable and sustainable social impact. Now in its 4th year, the Challenge aims to raise awareness of social entrepreneurship and build a robust community of social entrepreneurs and capacity builders across Asia.

The Challenge also provides multi-dimensional support for budding social entrepreneurs and builds capacity through public education in social entrepreneurship. Participants will be supported and mentored by some of the most experienced practitioners in this field. Furthermore, participants who qualify will have the opportunity to travel to Singapore for mentoring & coaching with experts, before facing the final round of judging. The Challenge will culminate with a prestigious awards ceremony.

With a dedicated learning platform and meaningful networks as well as increased awareness and support for budding social entrepreneurs, the DBS-NUS Social Venture Challenge Asia will accelerate the impact of winning entries to solve today’s most pressing social problems.

Categories: There are 2 categories funding-
Enterprise Category
Idea Category

Deadline: 14th, May, 2017 (Singapore Time UTC +08:00)

Funding details link:  http://socialventurechallenge.asia

Funding limit:
Enterprise Category: Up to six prizes of SGD 20,000 each
      ● Up to six social enterprises (each a “Winner”, collectively “Winners”) in the Enterprise Category will be identified and awarded cash prize of SGD20,000 each. The amount shall be awarded in accordance with Clauses 3.1.2 and 3.1.3.
      ● The cash prize will be fully paid within 1 month from: (a) the date of announcement of such Winners (“Announcement Date”), if it is an incorporated entity; or (b) the date of incorporation of a Winner, if it has not been incorporated on the Announcement Date. Therefore, if a Winner is not an incorporated entity on the Announcement Date, it shall establish a legal status as an incorporated entity and a corporate bank account within 2 months following the Announcement Date.
      ● DBS and NUS reserve the right to withhold the prize money should a Winner not meet any of the requirements within the stipulated timeline.

Idea Category: Up to two prizes of SGD 5,000 each
      ● Up to two individuals (each a “Best Idea”, collectively “Best Ideas”) will be identified and awarded cash prize of SGD5,000 each. The amount shall be awarded in accordance with Clauses 3.2.2 and
     ● The cash prize will be fully paid within 1 month from: (a) the date of announcement of such Best Ideas (“Announcement Date”), if it is an incorporated entity; or (b) the date of incorporation of a Best Idea, if the Best Idea has not been incorporated on the Announcement Date. Therefore, if the Best Idea is not an incorporated entity on the Announcement Date, it shall establish a legal status as an incorporated entity and a corporate bank account within 2 months following the Announcement Date.
     ● DBS and NUS reserve the right to withhold the prize money should a Best Idea not meet any of the requirements within the stipulated timeline.

Sector prizes: Up to SGD20,000 each, sponsored by Sector Champions
     ● Selected Participants may be identified as winners of Sector Prizes (each a “Sector Winner”, collectively “Sector Winners”) by Sector Champions sponsoring the respective amounts in sector prizes. The respective amounts of the Sector Prizes will be awarded in accordance with Clauses 3.3.2 and 3.3.3.
     ● The cash prize will be fully paid within 1 month from: (a) the date of announcement of such Sector Winners (“Announcement Date”), if it is an incorporated entity; or (b) the date of incorporation of a Sector Winner, if the Sector Winner has not been incorporated on the Announcement Date. Therefore, if the Sector Winner is not an incorporated entity on the Announcement Date, it shall establish a legal status as an incorporated entity and a corporate bank account within 2 months following the Announcement Date.
     ● DBS, NUS and the respective Sector Champions reserve the right to withhold the prize money should a Winner not meet any of the requirements within the stipulated timeline

Non-financial assistance
     ● Selected Winners may be invited to exclusive executive training workshops, closed door market access pitches and mentoring sessions, where deemed suitable with DBS, NUS and Sector Champions. This will give the Winners a chance to develop entrepreneurship and leadership skills, and build networks with large industry players.
     ● Winners are eligible to apply for co-working spaces at DBS Asia X, and seats will be allocated based on availability at point of application.

Project start date: N/A
Project duration: N/A
Eligible organization: As below

Eligibility:
The DBS-NUS Social Venture Challenge Asia aims to identify passionate aspiring and early stage entrepreneurs, who have innovative business solutions to solve social issues and create positive and sustainable social impact in Asia.
Any individual or group of individuals, whether incorporated or otherwise, regardless of age and nationality, who has an innovative idea that addresses social issues in Asia (though not exclusively), is eligible to participate.
Participating or proposed ventures should be independent entities, meaning that they should not be a subsidiary of an existing corporation or have legal ties to a government body.
Existing non-profits can participate, however they should propose a new venturing idea or a new plan to transform their existing non-profit operation into a financially more sustainable business.

Submission mail: N/A

Other important link:
Apply: http://socialventurechallenge.asia/apply/
Terms and conditions: http://socialventurechallenge.asia/terms-and-conditions/
Guideline: https://www.dropbox.com/s/11durgoa4xjj4b9/SVCAsia%202017%20-%20Application%20Guideline.pdf?dl=0

How to apply:
Interested applicant may apply through the website (http://socialventurechallenge.asia/apply/).

 

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