The DBS Foundation, in its commitment to supporting impactful businesses, has granted funds to six sustainability-focused enterprises showcased in Season 3 of Shark Tank India. These enterprises prioritize both profit and purpose, integrating positive social or environmental impacts into their business models. Through grant funding and non-financial assistance like mentorship and networking, the DBS Foundation aims to propel these startups towards growth.
Teaming up with Sony Entertainment Television, DBS Bank India co-powered Season 3 of Shark Tank India, aligning with its belief in the transformative potential of such enterprises for societal and economic progress. Each selected enterprise will receive grants ranging from INR 5 lakh to 15 lakh, which they plan to utilize for activities such as building consumer awareness, expanding operations, and adopting technology for increased productivity.
Under its Business for Impact (BFI) initiative, the DBS Foundation seeks to accelerate the development of purpose-driven businesses like those featured on Shark Tank India Season 3. Among these standout startups, The Honest Home Company focuses on reducing plastic usage through responsible packaging alternatives, while Dharaksha Ecosolutions develops biodegradable packaging materials to combat stubble burning and plastic pollution. Without (by Ashaya) upcycles unrecyclable plastic waste into sunglasses, and FarmDidi, a foodtech startup, aims to empower rural women while providing high-quality food products. XMachines offers robotic solutions for agricultural operations to address labor scarcity, while Trestle Labs, a previous grantee, enhances education and employment accessibility through its inclusive product, Kibo.
Shoma Narayanan, Managing Director, and Head of Group Strategic Marketing & Communications at DBS Bank India, expressed enthusiasm about the partnership with Shark Tank India, emphasizing the opportunity to connect with impactful businesses driving innovation for environmental and societal benefit. By supporting grant recipients, the DBS Foundation aims to amplify their impact and scale.
The selection process involved collaboration between the DBS Foundation, Sony Entertainment Television, and Shark Tank India teams. Nominees from the televised series submitted detailed applications outlining their business models, financials, and potential impact, followed by pitches to a jury comprising senior leadership from DBS Bank India and the DBS Foundation.
The DBS Foundation’s overarching goal is to foster enduring and sustainable impact while encouraging responsible practices in production and consumption. In 2023, the foundation engaged with over 380,000 stakeholders, including customers, SMEs, social enterprises, students, and partners, through various forums and partnerships.
Many social enterprises supported by the DBS Foundation have experienced substantial growth. For instance, Haqdarshak, an enterprise facilitating last-mile access to social protection and financial inclusion, has scaled significantly since partnering with the foundation in 2018. Featured on Shark Tank India Season 2, Haqdarshak garnered attention for its for-profit approach to social impact, receiving a joint offer from the Sharks. To date, it has trained over 38,000 field agents and provided benefits worth over INR 17,000 crore to millions of Indian citizens and micro-businesses.
