NUS Enterprise and DBS Foundation together launched DBS-NUS Social Venture Challenge (SVC) Asia 2016, a pan Asia business plan challenge, for the third consecutive year.
The objective of this event is to identify and support new social ventures that demonstrate scalability, sustainability, and the potential to make significant social impact across the region. This year, SVC Asia will see participation from more than 300 individuals and corporate partners from the region taking on the role of judges, mentors, facilitators, and speakers.
As a part of this programme, SVC Asia participants will undergo a training on how to start a social enterprise via regional workshops and online resources, supported by the partners from Singapore, Taiwan, Hong Kong, China, Indonesia, Cambodia, and Myanmar.
Semi-finalists will be taken to Singapore and provided coaching and one-to-one mentoring before they undergo two rounds judging in August 2016. The winners of SVC Asia will be awarded with prize money of $170,000 as seed fund for their social ventures, which will be announced on August 26, 2016. The award also includes Syngenta Agriculture Social Enterprise Award ($10,000) and raiSE VentureForGood Grant award ($50,000).
DBS Foundation, NUS Enterprise, and other SVC Asia partners will continue to support these social ventures to achieve greater heights even after the challenge gets over.
Since 2014, the numbers of participants have increased significantly. In the first year, 400 entries were received from 20 countries. In 2015, the number increased to 680 entries from 30 countries.
This demonstrates the growing interest in social entrepreneurship and solutions that address development needs in Asia. In particular, we have seen strong enterprises emerge in the areas of education, healthcare, agriculture, web/mobile, and the environment.
The challenge moreover raises awareness of social entrepreneurship and builds community of social entrepreneurs and capacity builders across Asia. The workshops are conducted across Asia to provide support and mentorship to social entrepreneurs.
2015 was a big year for SVC Asia award winners, while some raised funds, a few went to win awards at global platforms.
Applications for the SVC Asia 2016 are now being accepted. The deadline for the application is May 15, 2016.
For further information please visit socialventurechallenge.asia