SINGAPORE: Companies that are working to address issues posed by ageing populations is then anticipate receiving new funding sources.
A new Impact Beyond Award was introduced by DBS on Wednesday ( Sep 18 ) to” suspension innovative businesses with visionary solutions that address the world’s most’vile ‘ problems.”  ,
The award may recognize businesses for their contributions to a pressing societal issue each year and ask them to submit their ideas.  ,
The DBS Foundation is looking for “innovative solutions that improve the quality of life, improve care and feeding, overcome social isolation, create a multigenerational workforce, and guarantee financial resilience for the susceptible” for this year.
” While ageing is typically seen as a societal challenge, the DBS Foundation believes it can be an opportunity to be harnessed – both to change traditional attitudes, as well as to scale ‘ longevity companies ‘”, it said in a press release.
The prize may side out S$ 1 million each to three companies.
According to the bank, these companies will also receive mentoring from DBS ‘ top management and other business leaders, as well as exposure to potential buyers.
Social corporations and small and medium-sized businesses from all over the world that have earned at least S$ 5 million in the most recent fiscal year are eligible for the new prize.  ,
The deadline to apply for the prize is Sep 20 and runs until Nov 30.
Announcing the prize at the charity’s annual Impact Beyond Dialogue program, Ms Karen Ngui, head of DBS Foundation, said an aged world is a “big issue” facing Singapore and other Asian societies.
For Singapore, one in four people will get aged 65 and over by 2030. Beyond the statistical shift, she continued, a bigger issue is rooted in the” conventional views and beliefs around ageing.”
What’s the federal going to do, because there is a form of nearly resignation about age? Can anything be done? Is it too late to consider the potential of the aging cultures?
” The more we can observe age as an opportunity… as a solution to many of the problems we’re currently facing, maybe we can begin looking at it more holistically,” she said, while mentioning that companies can play a role in developing “longevity options.”