One hundred DBS-NUS social entrepreneurs in Asia 2018 Social Venture Challenge have been announced. The annual global event organized by the NUS Enterprise and DBS Foundation aims to capture and support newly established social entrepreneurship that has the potential to create positive, measurable and sustainable social impacts.
Of the one hundred social entrepreneurs in Asia that have been announced, eight are social entrepreneurs from Indonesia. This proves that the real actions of Indonesia’s young generation in empowering the surrounding community should be taken into account. Social concern among the younger generation of Indonesia is also increasing, as evidenced by the increasingly widespread social entrepreneurs that have sprung up in recent years.
Indonesia contributes 0.48-1.29 million tons of waste to the sea. Whereas in one day, Jakarta can produce 7,200 tons of waste. Departing from this, Waste4Change is here to provide waste management services from upstream to downstream with the aim of changing people’s behavior towards waste. The number ‘4’ in Waste4Change’s name consists of four things, namely: Consult provides consultation based on in-depth research and training on responsible waste management, Campaign provides education to companies, homes, schools to communities about the importance of responsible waste management, Collect collect waste from residential or commercial areas to the site Waste4Change, Create collaborate with trusted partners to convert waste into recycled materials. “
About DBS-NUS Asia Social Venture Challenge
The DBS-NUS Social Venture Challenge Asia (SVC Asia) is an Asia-wide competition for social enterprises, open to any member of the public. Organised by DBS Foundation and NUS Enterprise, the Challenge aims to identify and support innovative new ideas and existing social ventures that have the potential to generate positive, scalable and sustainable social impact.
Since 2014, the DBS-NUS SVC Asia has committed to providing multi-dimensional support for budding social entrepreneurs and building a robust community to solve today’s most pressing social problems. With support from a strong network of over 50 partners, winners of the Challenge have accelerated their impact and touched more lives in communities across Asia.
As a corporate foundation in Asia solely dedicated to championing social entrepreneurship, DBS Foundation contributes in building a more inclusive society so that those at society’s margins can enjoy productive and rewarding lives. The Foundation is an endeavor from DBS Bank to make an even greater impact in addressing Asia’s evolving social needs.
NUS Enterprise is a part of the National University of Singapore (NUS) that plays a pivotal role in advancing innovation and entrepreneurship at NUS and beyond. Its initiatives and global connections support a range of entrepreneurial journeys and foster ecosystem building in new markets.
The 5 Judging Criteria of The DBS-NUS Asia Social Venture Challenge 2018
INNOVATIVENESS OF BUSINESS SOLUTION
- Clearly-defined, feasible solution for an identified need/social problem
- Innovation in product, service, or business model
- Clear market position and differentiation from competitors
- The high-impact social value proposition, be it in depth (extent of problem eliminated) or breadth (reach).
- Actively engages and works together with the community to tackle the social problem
- Feasible plan to clearly measure and evaluate social impact
- The social value proposition is aligned with the business model; impact scales as business scales
- Track record of actual impact achieved
- The intended social impact is sustainable in the long run
- Viable addressable market size
- Clear identification of target customers & intended beneficiaries and how to reach them
- Scalable in terms of geography and solution, or across industries
- Opportunities and risks have been mapped out with possible mitigations
ECONOMIC & FINANCIAL MODEL
- Feasible and realistic commercial model and funding plan
- Realistic financial projections for venture’s operations
- Realistic roadmap towards financial sustainability
- Evidence of consistent revenue generated from your customers
- Members demonstrate entrepreneurial ability to adapt
- Demonstration of knowledge and understanding of target community
- Clear identification of key gaps in talent and experience and realistic plan to fill these gaps
Keep Supporting Us for the Next Round!
Find out more about The DBS-NUS Asia Social Venture Challenge 2018 via its official homepage.