DBS Bank Joins Founder Institute as Mentor, Aiming to Create High-Quality Startup Founder

The 7th batch will be finished in March 2018, there are 21 startup remains

Marsya Nabila - 31 January 2018

DBS Bank is now a mentor for the entrepreneurship training program by Founder Institute. It is initiated to support DBS Bank transformation from conventional into a digital bank with startup mindset and innovation-oriented.

As a mentor performing its duties, DBS Bank together with the experts engaged in innovation and digitization segment will train all participants of the Founder Institute during the program.

"Through the Founder Institute, we want to gain startup founders to share various trends and the supporting ecosystem. We expect DBS to contribute and play a part in the startup development through various innovations offered, including digibank." DBS Bank's Director of Consumer Banking Wawan Salum explained in an official statement.

On a global scale, DBS Bank has built DBS Innovation Center in Singapore as the innovation project center and platform for 22 thousand employees in research and development of dynamic innovation. DBS Bank partners with global fintech to develop startup ecosystems such as Kasisto, SoftToken and local fintech (E2B).

Founder Institute's 7th batch focus

Separately, Founder Institute's Director Richie Wirjan said that DBS Bank is now a mentor for the 7th batch of the program which already executed since 2010. This batch received 1200 applicants. There are 81 people from various fields pass the selection.

"Currently [eliminated from 81 people] there are 21 startup founders, because of weekly evaluation. Those [startup founders] not performing, will drop out automatically. The batch will be finished in mid-March 2018," he explained to DailySocial.

To join as Founder Institute participants, everyone involved should have passed the screening through Entrepreneurial DNA Test. This program focused on the founder's personality.

All participants come from different startup companies, some have ideas but not 100% sure. There are startups which already run for 1-2 years but still need more guidance. Many of them joined with no idea at all. They run a paid training program for four months approximately.

"Ideas can change, but not the character and attitude of the founder we've built. Our focus remains the same, to ensure the rise of high-quality founders and create impactful startups for the public."

In the meantime, there are 5 high-rate startups as follows:

  1., a B2B Marketplace for helping suppliers sell their products in large amount by Group Buying System

  2. SmartBee, a mobile app for helping the pre-school teacher to focus on student development by allowing teachers to share analysis, report, assessment, and picture with parents in real time.

  3. Ayoslide, an Android advertising app to help online brands interact with smartphone users from the lock screen using incentives (virtual cash) and rewards.

  4. Eddemy, a B2B SaaS company which provides learning management system for schools and improves parent-teacher collaboration with the student in a platform using website and cellular application.

  5. Napro (Nabung Properti), a crowdfunding platform for joint venture investment in property.

Original article is in Indonesian, translated by Kristin Siagian

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