Programme highlights DBS’ ongoing initiative Towards Zero Food Waste (TZFW)
DBS Bank India has announced its partnership with Social Alpha, a popular innovation curation & venture development platform for tech startups, to address the global issue of food waste through sustainable solutions.
The partnership furthers DBS’ commitment to supporting entrepreneurial efforts toward addressing productivity and supply chain efficiency issues, leading to food waste and value erosion in the food and agri sector.
Nearly 40% of food produced in India is lost before it reaches the markets and further wasted at the retailer level, which decreases the nutritional security and causes income losses for farmers. Moreover, an estimated 50 kg per capita of household food waste is recorded, totalling 68M tonnes a year.
Techtonic Innovations Towards Zero Food Waste, presented by DBS and powered by Social Alpha, is a two-year program that identifies innovative and scalable solutions by entrepreneurs to help reduce quantitative and qualitative food loss and waste across food systems and agri-food value chains. Under this engagement, selected startups will receive grant support to develop their product and marketing strategy, receive branding support, access to grassroots partnerships, and pitch for seed capital.