DBS has launched a new Impact Beyond Award that aims to support innovative businesses with solutions addressing issues associated with ageing populations. The award will offer S$1 million each to three businesses annually.
The new award will hand out S$1 million each to three businesses that have the most innovative solutions for issues associated with ageing population s.
For this year, the DBS Foundation is focusing on issues to do with rapidly ageing societies, and is on the lookout for “innovative solutions that enhance the quality of life, improve healthcare and nutrition, combat social isolation, build a multigenerational workforce and ensure financial resilience for the vulnerable”.
“Because there is a form of almost resignation about ageing - what's the government going to do? Can anything be done? Is it too late … versus looking at the potential of the ageing societies.” First, each business has its specific skills or competencies that can be harnessed to help those in need. For example, banks have the expertise in financial literacy and planning, and are “better placed” than the government to provide such support to low-income families, said the minister.at the Ministry of Social and Family Development , who in turn support families under the Community Link programme.
“One of the key problems that businesses deal with today in Singapore is where to find manpower … and I think the answer is in a few parts of our population,” said Mr Chua, who added that jobs can be redesigned to make it more palatable for seniors.
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