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DBS Bank partners with Social Alpha

DBS Bank India has concluded a strategic partnership with Social Alpha aimed at bolstering the growth of social enterprises and supporting innovators through business mentoring and seed capital. DBS Bank said the program will strengthen the ecosystem for enterprises focusing on the areas of inclusion, healthcare and environment, through a total program grant of Rs 10 million. Social Alpha is a technology business incubator supported by Tata Trusts that helps create high quality, accessible and affordable solutions through its incubation, accelerator and seed capital programs. The DBS-Social Alpha Social Entrepreneurship program will focus on providing holistic support to entrepreneurs and equipping them with resources for creating successful go-to market strategies, developing sustainable business models and accelerating their product development efforts. The shortlisted enterprises are from the current Social Alpha cohort as well as from the pipeline of social ventures supported by DBS over the years. The 3 ventures that will be a part of the program over the next year and a half  are Even Cargo, an award-winning enterprise that identifies and trains women from marginalized communities to work towards bridging low female Labour Force Participation Rate in India, Trust Circle, a  mental health care startup that utilizes mobile & AI technology to improve emotional resiliency and well-being for all, and Incredible Devices, a medical device startup company with a mission to make healthcare safe and affordable by developing solutions which reduce treatment cost. Surojit Shome, CEO, DBS Bank India said through the partnership, the bank will be able to leverage Social Alpha’s expertise in incubating social enterprises, as well as their diverse network. Manoj Kumar, xo-founder & CEO, Social Alpha said the company nurtures the most promising mission driven teams through its business and technology incubation ecosystem and invite investors to support these social enterprises.

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