DBS Foundation ( DBSF ) has selected 22 businesses for impact – chosen from over 1,500 applications across its key markets – to receive grant funding totalling S$4.5 million ( US$3.3 million ) with which to scale their businesses and benefit more vulnerable communities.

All in, their work, according to the foundation, is projected to collectively benefit over 800,000 beneficiaries over two years.

These grantees, DBSF notes, share its mission of uplifting the lives and livelihoods of vulnerable segments, in particular, by providing essential needs ( for example, basic education, healthcare, clean water ) and fostering inclusion through upskilling, employment and other opportunities.

With ageing impacting many parts of Asia and a key priority for DBSF, it says, a quarter of this year’s grantees are focused on tackling the needs of ageing societies. This includes developing innovative solutions to address elderly-related risks such as the growing incidence of falls, or helping communities to enjoy quality living spans – improved physical, financial, mental and social health – as they age.

The DBSF grant programme supports innovative social enterprises and small-and-medium enterprises that create positive impact. It does this by equipping them with the capital and know-how to scale.

Grant funding aside, grantees also gain access to holistic support from the bank, including targeted guidance and mentorship, capacity-building and networking opportunities.

Since the launch of the grant programme in 2015, DBSF has disbursed grants totalling S$21.5 million to some 160 grantees. The grant programme’s alumni have gone on to raise 10 times in further funding for themselves.

“These DBSF grantees share our desire to do well by doing good, and they bring with them innovative solutions that benefit especially the vulnerable segments of society,” says Karen Ngui, head DBSF and DBS Group’s strategic marketing and communications. “With many societies fast-ageing today, we hope their solutions can go towards enabling everyone to not just live longer, but also to live more purposefully and fulfilled.”