Two Indonesian Startups Receive Grants from Singapore's DBS Bank

Singapore's DBS Bank provided grants for 14 startups engaged in social enterprises from Hong Kong, China, India, Indonesia, and Taiwan. The two startups from Indonesia that received the grant were Du'Anyam Weaving Goods and Pandawa Agri Indonesia.

This grant is part of the DBS Foundation's CSR program. The total grant funds prepared by DBS Bank reached US$ 825 thousand, with a range of funds received from US$ 37.500 to US$ 120 thousand.

The selected startups represent each of the main business countries in which DBS Bank operates. They were selected for their ability to identify and address social needs, sustainable business models, and exciting innovations.

Quoted from e27, the DBS Bank stated that this grant can be used by all startups for business escalation and commercializing the solution. It also creates jobs for underprivileged talents, and builds eco-friendly solutions related to food and waste management.

"As a purpose-driven organization, we believe it's important to create impact outside of banking. Beyond that, we look forward to working together so they can do their job well, through mentoring sharing knowledge with others, or providing business procurement opportunities with DBS ," said DBS Foundation Board Member and Head of Group Strategic Marketing & Communications Karen Ngui.

The DBS Foundation was founded in 2014. In total the DBS Foundation has donated to 260 social enterprises with a total value of US$2,6 million.

Du'Anyam Weaving Goods is a startup E-commerce who want to help weavers, mostly women located in rural Indonesia, sell their products on the Du'Anyam platform. To date, the startup has assisted more than 400 female weavers and is targeted to reach 2 by 2020.

While Indonesian Agri Pandavas (PAI) is a startup engaged in agriculture with the ambition of wanting half of agriculture in Indonesia to use synthetic products. This is done by releasing products as an environmentally friendly weed and pest control solution which is claimed to save farmers' expenses by up to 30%. PAI will use the grant funds it receives to establish a new production facility.

In addition to the two startups, there are also 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), and Tomoroe (China).