SVC Asia to give $12k as seedfund to winner

Visual from company website

The DBS-NUS Social Venture Challenge Asia (SVC Asia) 2015 will be giving out S$150,000 ($120,000) as seed funding to the winners. Jointly organised by both NUS Enterprise and the DBS Foundation, the social venture award is given to the idea that can demonstrate greater scalability and sustainable social impact .

The 2015 award is  also meant to commemorate Singapore’s 50th year of independence.

Social enterprises, according to social entrepreneur and Nobel Peace Prize (2007) recipient Muhammad Yunus, the founder of Grameen Bank and pioneer of microfinance and microcredit, are businesses where investors and founders can gradually recoup their financial investment, but not take dividends beyond their initial investment.

Rather than seeking a return on investment, the purpose of a investing in a social business is to achieve specific social objectives through the operation of the company, with negligible personal gain. However, social businesses must cover all costs and generate profits, while achieving their social objective (i.e. healthcare, housing or financial services for the economically deprived).

In 2014, the first-ever DBS-NUS Social Venture Challenge Asia (SVC Asia) event saw seven social enterprises entering the final round in Singapore. 2014’s events saw 400 innovative idea from teams spread across 20 countries.

Friends International founder Sebastien Marot, a member of the judging panel, remarked that the ideas were “solid, both in terms of social impact and business”.

Participating teams will be able to access an online portal, with lessons on how to develop concepts into scalable and sustainable social business ventures, as well as connecting them to an array of experienced social entrepreneurs, investors and industry experts.

Participants from specific countries will also be able to attend a workshops and networking events organised by SVC Asia and its network of local community partners. Submissions close on Wednesday, 25 March 2015.

12 semi-finalist teams will be selected to come to Singapore in early June for a final round of coaching and pitching, prior to the Final Awards Ceremony, where they’ll receive advise and mentorship from selected partners prior to the final round.

Karen Ngui, strategic marketing and communications head of DBS Group and board member of the DBS Foundation. the “We believe that social enterprises are a force for good and hope that this year’s SVC Asia will fire up many socially minded individuals and ignite sparks of entrepreneurship and innovation,” says Karen Ngui, the strategic marketing and communications head of DBS Group and board member of the DBS Foundation.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.