aation, a financial services organization in Asia, announced the 24 Businesses for Impact (BFIs). Five of these honors came from India. The recipients will get financing and access to a variety of possibilities. This will entail networking and patient finance to expand businesses. According to a business statement, the creative solutions of these purpose-driven BFIs are paving the road for a more inclusive, low-carbon future, working at the intersection of economic, environmental, and social impact.
Project Baala strives to promote women's and girls' health in rural regions by focusing on sustainable menstruation solutions and literacy.
Green Worms is an innovative circular economy firm that employs women. Zerund Manufacturing is revolutionizing the building materials market with environmentally friendly solutions. KaroSambhav promotes a more circular economy by introducing electronic garbage collecting and recycling technologies, whereas Swachh Sustainable technologies (ReCircle) advocates for a traceable supply chain for waste pickers.
The five Indian BFIs were among 24 Asia-wide contenders for the DBS Foundation funding. From a record 2000 award applications submitted throughout DBS markets, the final grantees were chosen based on tough criteria such as their potential to generate social and environmental impact, innovate, and ensure their organizations' overall sustainability and scalability.
The winning BFIs will get comprehensive support to expand their businesses and the impact they produce through grant funds totaling SGD 3.7 million for all grantees, as well as extra support such as tailored banking services, capacity-building, and access to business prospects.
In India, Project Baala will utilize the funds to launch hydrophobic sanitary pads, therefore minimizing plastic waste and educating underprivileged women. The award would allow KaroSambhav to establish an e-waste management plant in Maharashtra, creating green employment and facilitating the recovery of vital minerals. Green Worms will utilize the money to develop its recycling plant in Kerala, which would assist more than 120 communities in the region by improving waste management and creating jobs.
Swachh Sustainable Solutions (ReCircle) intends to utilize the cash to improve its ClimateOne traceability platform, which diverts 400 tons of garbage from landfills while improving the lives of waste pickers. Zerund Manufacturing will be able to use the funding to expand its production of environmentally friendly construction materials.
The expansion of these enterprises is consistent with India's route to fulfilling the Sustainable Development Goals by tackling climate change issues as well as the difficulties confronting impoverished and marginalized people.
The DBS Foundation's mission to champion and equip BFIs for success enters its tenth year in 2024. So far, SGD 17 million has been granted to 140 of the region's most innovative BFIs under the DBS Foundation Grant Award. This has helped to close the financial gap that many of these fledgling businesses confront, and grant recipients have now raised more than tenfold in follow-on capital, according to a corporate statement.
