Singapore based DBS Bank and Tata Institute of Social Sciences (TISS), India’s premier institute for social sciences and HR, signed a strategic partnership agreement to launch a program which aims to boost social entrepreneurship. The so called ‘DBS-TISS Social Entrepreneurship Programme’ will promote the cause and purpose of social entrepreneurship and social enterprises.
DBS and TISS are planning to work closely together and provide start-up funding, growth capital for capacity building, business guidance as well as mentoring support through staff volunteers. The tie-up between the companies also aims to initiate research related programs to measure social impact and organise events to propagate the cause and purpose of social entrepreneurship in the public domain through means such as awards, whitepapers, conferences or case studies.
Announcing the launch of the program and the new partnership, Sanjiv Bhasin, CEO, DBS Bank India said, “We are committed to building a better future by supporting social enterprises in India and across Asia. Social enterprises offer innovative and sustainable solutions to meet societal needs. As a strong advocate of entrepreneurship and innovation, DBS is committed to help social enterprises maximise their social impact and improve their commercial viability at the same time. We are delighted to partner with TISS to execute this programme as their expertise in social sciences perfectly complements our ability to provide capital and entrepreneurial focus to social ventures.” However, more detailed funding arrangements have not been announced yet. Bhasin said they would be project-specific and part of the bank’s CSR activities.
TISS Director Prof. S. Parasuraman said about the tie-up “building capabilities of the marginalised and excluded communities with initiatives such as market linkage, timely funding and appropriate information is the new way of development.”