DBS Bank partners with Tata Institute of Social Sciences to champion social entrepreneurship in India

KOLKATA: DBS Bank and Tata Institute of Social Sciences (TISS) today signed a strategic partnership agreement to launch the ‘DBS–TISS Social Entrepreneurship Programme’ to promote the cause and purpose of social entrepreneurship and social enterprises.

DBS and TISS will closely work together to provide start-up funding, growth capital for capacity building/expanding, business guidance and mentoring support through staff volunteers. The two will also initiate research and related programmes to measure social impact.

Speaking about new-age developmental initiatives, S. Parasuraman, Director, TISS, said, "There is a fundamental shift in the way development strategies are presently being approached. Developmental funding is now viewed as a social investment with financial sustainability being as important as social impact. Building capabilities of marginalized and excluded communities with initiatives such as facilitation through market linkage; timely funding and appropriate information is the new way for development. Social entrepreneurship thus emerges unique, as it deploys technological, managerial and social knowledge and skills to create desired social change."

Announcing the partnership and the launch of the programme, Sanjiv Bhasin, CEO, DBS Bank India, said, "We are committed to building a better future by supporting social enterprises in India and across Asia. Social enterprises offer innovative and sustainable solutions to meet societal needs. and improve their commercial viability at the same time.

Elaborating on the partnership between DBS and TISS, Prof. Satyajit Majumdar, Chairman, Center for Social Entrepreneurship, TISS said, "In addition to developing a qualified stream of social entrepreneurs trained with the right blend of classroom teaching and fieldwork, we will provide financial, networking, mentoring and other support so that they can start or scale-up their ventures and play a more impactful role in tackling the social issues facing the communities they are working with. We will also create and disseminate knowledge on social entrepreneurship with the help of academicians and researchers. This adds to develop newer knowledge base and also helps social entrepreneurs to improvise their solutions for addressing social problems more effectively."