Two Indonesian Startups Receives Grants Funding from DBS Bank Singapore
Total fund is around $825K
DBS Singapore pours grants funding for 14 startups engaging in social enterprise from Hong Kong, Tiongkok, India, Indonesia and Taiwan. The two startups from Indonesia are Du'Anyam Weaving Goods and Pandawa Agri Indonesia.
Fund distribution is a part of DBS Foundation's CSR program. Total grants fund prepared by DBS has reached US$825K, by approximately US$37.500 to US$120.000 fund received.
The selected startups represent each DBS' operational main business countries. They are chosen by its skill in identifying and handling social needs, ongoing business model and fascinating innovation.
Quoted from e27, DBS Bank stated that this fund can be used by all startups for escalating business and commercialized its solution. It also provides job opportunity for those in need, create an eco-friendly solution related to food processing and waste.
"As an objective-based organization, we believe in the importance of creating banking outside-effect. Besides, we are willing to cooperate for their better performance, by sharing insights or giving procurement chance with DBS," said DBS Foundation's Head of Group Strategic Marketing & Communication and Board Member Karen Ngui.
DBS Foundation was established in 2014. It has given 260 social companies of US$2,6 millions in total.
Du'Anyam Weaving Goods is an e-commerce helping weaver which mostly females located in Indonesia's villages, to sell its products in Du'Anyam platform. Up to this moment, the startup has helped more than 400 female weavers and targeted to reach 2 thousands in the next 2020.
Meanwhile, Pandawa Agri Indonesia (PAI) is a startup engaged in agriculture with ambition to make half of Indonesia's agriculture using synthetic products. By creating product as eco-friendly pests and weed killers solution claimed to save farmer's expense to 30%. PAI will use the grants fund to build new production facility.
Besides both startups, there are Caption Cube (Singapore), Edible Garden City (Singapore), UglyGood (Singapore), Pure Milk Co. (Taiwan), Knight Digital Technology (Taiwan), Justwin (Taiwan), Agriforward (Taiwan), Eco-Greenergy Limited (Hong Kong), Fantastic Dream (Hong Kong), HarvestWild Organic Solutions (India), Kheyti (India), dan Tomoroe (China).
– Original article is in Indonesian, translated by Kristin Siagian