In a statement, Temasek Trust said the new oscar@sg fund will be anchored by an “S$10 million gift” from Temasek. The fund will provide up to S$5,000 of direct sponsorship and further match dollar-for-dollar of third-party funding sources of up to S$50,000, with a provision to increase up to S$100,000 in exceptional cases.
The oscar@sg fund has already attracted donations from corporate partners and individual philanthropists. Among them, Pavilion Capital and ABC World Asia rallied behind the cause and donated a further S$1.7 million to the effort.
The fund will support ground-up initiatives that respond to community needs in Singapore as a result of the COVID-19 pandemic. The initiatives should embrace the values of “ownership, sustainability, care, assurance, resilience (Oscar)”, according to the statement.
The Ministry of Health (MOH) confirmed 528 new Covid-19 cases in Singapore on Tuesday (April 28), taking the total count to 14,951.
“By encouraging and supporting ground-up movements, Temasek Trust hopes to advocate and catalyse positive community action by our people and emerge better and stronger together,” Temasek said.
Individuals or groups of individuals can apply for the grant. Additionally, non-profit organisations registered with the Accounting and Corporate Regulatory Authority or the Registry of Societies are also able to apply.
“We believe sometimes the best and the most effective ideas come from ground-up. Through the oscar@sg fund, Temasek Trust aims to support meaningful ground-up initiatives that seek to address community needs exacerbated by the present COVID-19 crisis,” Temasek Trust CEO Cheo Hock Kuan said.
Established in 2007, Temasek Trust is an independent Trustee of philanthropic endowments and gifts. The fund’s investments are guided by Temasek’s vision of an ABC World, comprising an Active Economy, a Beautiful Society, and a Clean Earth.