Businesses tackling Asia's ageing crisis awarded S$3 million at DBS Foundation's Impact Beyond Awards
[SINGAPORE] Smart emergency-response devices available round the clock and using artificial intelligence (AI) to help clients match with caregivers were among the four ideas that won the DBS Foundation's inaugural Impact Beyond Awards.
They were unveiled during the DBS Foundation Impact Beyond Dialogue on Thursday (May 29).
Collectively, the winners will receive S$3 million from the DBS Foundation and support from the bank to further aid them in tackling urgent needs in ageing societies through developing new products, upscaling their operations and more.
The emergency-response device, known as the Buddy of Parents (BOP) Button, is for seniors who live alone or lack 24/7 caregiving support.
The wall-mounted, battery-operated BOP Button helps to connect seniors to a round-the-clock emergency response centre if they press it. This emergency device is the flagship product of BOP, a wholly owned subsidiary of Singapore-based technology provider iWow Technology.
Another winner, Evercare Health – a Hong Kong-based healthcare service – is tackling eldercare from another angle: using AI-powered algorithms to match caregivers and clients.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Sign Up
Sign Up
Through Evercare's mobile app, patients and their caregivers are offered features that include scheduling, in-app communication and payment processing. This is alongside connecting seniors with qualified caregivers and specialty services by considering each patient's personal preferences.
Rounding out the list of winners were China-based Hua Kang Health Industry Group and India-based Life Circle Health Services.
Force for good
The awards build on the foundation's commitment to help purpose-driven businesses create an impact, which includes an annual DBS Foundation grant programme for social enterprises that has been running since 2015. This programme has disbursed S$21.5 million in funding to more than 160 organisations regionwide.
'We hope these innovative businesses for impact will demonstrate that businesses can indeed be a force for good,' said Karen Ngui, head of DBS Foundation and DBS group strategic marketing and communications. 'Ageing well should not be a privilege for just the select few but a shared promise for all.'
Ngui highlighted that living in a world where the number of people aged over 60 outnumber those younger than five is 'sobering to see'.
Singapore was deemed an aged society in 2017 and is barrelling towards a 'super-aged' status in 2026. By 2030, one in four of Singaporeans will be aged 65 and above.
An ageing population could create social fractures as seniors, especially those living alone, are more susceptible to social isolation. Rising life expectancies also put a strain on the Republic's healthcare system and raise the emotional and financial burdens on families and caregivers.
These were some of the issues explored by the four winners, as well as some senior executives from DBS, GovTech chief executive Goh Wei Boon and Dr Fidah Alsagoff, vice-chairman of life sciences at Temasek International, during the Impact Beyond Dialogue.
Kenneth Wong, CEO of Evercare Health, pointed to an inflection point that many will probably go through – transitioning from being someone's child to being their caregiver.
For some, the change develops gradually but it can be immediate for others, said Wong, adding that, regardless, it is something that many are never prepared for. His AI-powered technology is aimed at simplifying that and making healthcare more flexible and accessible.
Chen Jer Yaw, executive director of BOP, noted that the human-centeredness of these technologies is also important.
'We must understand that technology is to aid (the) human ability to reach out to our loved ones,' he said, adding that though nothing will replace human touch, AI's advancement can still help reduce feelings of isolation.
Support needed
However, businesses looking to address issues raised by an ageing population have also realised that they cannot face the problem alone.
Both the CEO of Life Circle Health Services and the chairman of Huakang Health Group highlighted that they needed two types of support. The first of which, to understand their customers, would be partnerships with grassroots organisations that have worked closely with seniors and caregivers.
The second would be government support to help them scale up operations.
Tan Su Shan, CEO of DBS, noted that besides creating partnerships between various parts of the ecosystem, building transborder relations is also important.
'We have to create these bridges so that, in spite of whatever geopolitical noises we have, we can embrace AI for good and use it really to create good for the firm and for our societies.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
30-05-2025
- Straits Times
Firm behind wireless alert buzzer for seniors wins DBS award; device coming to more rental flats
The button lets seniors – particularly those living alone or without family support – reach emergency services with a single press. ST PHOTO: JASON QUAH Firm behind wireless alert buzzer for seniors wins DBS award; device coming to more rental flats SINGAPORE – A local firm has clinched a contract potentially worth more than $50 million to extend its emergency buzzer system for seniors to 170 additional rental blocks over the next five years, after a successful pilot since 2019. The wall-mounted, wireless red button lets seniors – particularly those living alone or without family support – reach emergency services with a single push. The expanded roll-out is part of a second contract awarded to Singapore-based tech firm iWow Technology in early 2025 by the Government Technology Agency (GovTech) to procure wireless alert devices for more seniors in Housing Board rental flats over the next five years. The devices are developed by Buddy of Parents (BOP) – a subsidiary company of iWow – which on May 29 received a $1 million grant under DBS Foundation's Impact Beyond Award for its efforts to support seniors and caregivers through smart technology. The award will support the development of new products and the firm's outreach to vulnerable seniors and international growth, said BOP executive director Chen Jer Yaw. Mr Chen said: 'As part of the grant, there are milestones that we will have to hit, such as the number of people (who will benefit from) our products and services... We are committed to fulfilling these milestones and to support more seniors.' The company will focus on the distribution of emergency buzzers for HDB, which is expanding its initiative to provide wireless alert devices to seniors. Some 36,800 seniors aged 60 and above are expected to have the devices installed for free by 2030, according to a spokesperson in a joint statement by HDB and GovTech. As at February, at least 10,000 seniors living in 50 public rental blocks have had the wireless devices installed, the spokesperson added. Seniors with older models will soon receive a new device, which has improved durability and performance. Each BOP button is connected to a 24-hour hotline, giving vulnerable seniors, especially those who live alone or lack family support, a way to seek help in life-and-death situations. (From left) BOP executive director and iWow senior vice-president Chen Jer Yaw, iWow CEO and executive director Raymond Bo and iWow chief marketing officer Ashokan Ramakrishnan with the new wireless alarm system for seniors. ST PHOTO: JASON QUAH The alert alarm devices have been triggered around 20,200 times since the system's roll-out to rental flats in November 2019, according to HDB and GovTech. Roughly 1,600 required emergency help, while the rest were non-urgent calls or accidental presses , they said . The button is an upgrade of an older pull-cord system, which seniors use to activate an alarm at their block's void deck to alert people in the vicinity or an active ageing centre during working hours. The new devices come with better batteries that exceed five years, and two-way voice calling for users to speak to operators over the phone. They are also resistant to water and dust – a requirement under GovTech's tender – so the devices can be placed reliably in bathrooms, where the risk of falls is higher. Announced by iWow in February, the contract with GovTech includes the option to purchase its fall detector module and portable alert device over the next 10 years. BOP's catalogue of devices includes a wall-mounted infrared scanner with image-recognition software to tell when someone has fallen and is in need of assistance. The DBS Foundation also gave the Impact Beyond Award to three other businesses, which are tackling urgent needs among ageing residents, from nearly 100 submissions worldwide. One of them is Hong Kong's Evercare Health – a health tech platform which developed a mobile app for patients and caregivers to schedule appointments, contact staff members and make payment. The award will support the firm's development of artificial intelligence-powered medical notes to improve the efficiency of healthcare services. Another award recipient is India's Life Circle Health Services, which operates a mobile app that connects families with trained caregivers based on their needs. DBS has disbursed $21.5 million in grant funding to more than 160 social enterprises and recipients since 2015. Join ST's WhatsApp Channel and get the latest news and must-reads.
Business Times
29-05-2025
- Business Times
Businesses tackling Asia's ageing crisis awarded S$3 million at DBS Foundation's Impact Beyond Awards
[SINGAPORE] Smart emergency-response devices available round the clock and using artificial intelligence (AI) to help clients match with caregivers were among the four ideas that won the DBS Foundation's inaugural Impact Beyond Awards. They were unveiled during the DBS Foundation Impact Beyond Dialogue on Thursday (May 29). Collectively, the winners will receive S$3 million from the DBS Foundation and support from the bank to further aid them in tackling urgent needs in ageing societies through developing new products, upscaling their operations and more. The emergency-response device, known as the Buddy of Parents (BOP) Button, is for seniors who live alone or lack 24/7 caregiving support. The wall-mounted, battery-operated BOP Button helps to connect seniors to a round-the-clock emergency response centre if they press it. This emergency device is the flagship product of BOP, a wholly owned subsidiary of Singapore-based technology provider iWow Technology. Another winner, Evercare Health – a Hong Kong-based healthcare service – is tackling eldercare from another angle: using AI-powered algorithms to match caregivers and clients. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Through Evercare's mobile app, patients and their caregivers are offered features that include scheduling, in-app communication and payment processing. This is alongside connecting seniors with qualified caregivers and specialty services by considering each patient's personal preferences. Rounding out the list of winners were China-based Hua Kang Health Industry Group and India-based Life Circle Health Services. Force for good The awards build on the foundation's commitment to help purpose-driven businesses create an impact, which includes an annual DBS Foundation grant programme for social enterprises that has been running since 2015. This programme has disbursed S$21.5 million in funding to more than 160 organisations regionwide. 'We hope these innovative businesses for impact will demonstrate that businesses can indeed be a force for good,' said Karen Ngui, head of DBS Foundation and DBS group strategic marketing and communications. 'Ageing well should not be a privilege for just the select few but a shared promise for all.' Ngui highlighted that living in a world where the number of people aged over 60 outnumber those younger than five is 'sobering to see'. Singapore was deemed an aged society in 2017 and is barrelling towards a 'super-aged' status in 2026. By 2030, one in four of Singaporeans will be aged 65 and above. An ageing population could create social fractures as seniors, especially those living alone, are more susceptible to social isolation. Rising life expectancies also put a strain on the Republic's healthcare system and raise the emotional and financial burdens on families and caregivers. These were some of the issues explored by the four winners, as well as some senior executives from DBS, GovTech chief executive Goh Wei Boon and Dr Fidah Alsagoff, vice-chairman of life sciences at Temasek International, during the Impact Beyond Dialogue. Kenneth Wong, CEO of Evercare Health, pointed to an inflection point that many will probably go through – transitioning from being someone's child to being their caregiver. For some, the change develops gradually but it can be immediate for others, said Wong, adding that, regardless, it is something that many are never prepared for. His AI-powered technology is aimed at simplifying that and making healthcare more flexible and accessible. Chen Jer Yaw, executive director of BOP, noted that the human-centeredness of these technologies is also important. 'We must understand that technology is to aid (the) human ability to reach out to our loved ones,' he said, adding that though nothing will replace human touch, AI's advancement can still help reduce feelings of isolation. Support needed However, businesses looking to address issues raised by an ageing population have also realised that they cannot face the problem alone. Both the CEO of Life Circle Health Services and the chairman of Huakang Health Group highlighted that they needed two types of support. The first of which, to understand their customers, would be partnerships with grassroots organisations that have worked closely with seniors and caregivers. The second would be government support to help them scale up operations. Tan Su Shan, CEO of DBS, noted that besides creating partnerships between various parts of the ecosystem, building transborder relations is also important. 'We have to create these bridges so that, in spite of whatever geopolitical noises we have, we can embrace AI for good and use it really to create good for the firm and for our societies.'
Straits Times
29-05-2025
- Straits Times
Award-winning wireless alert device for seniors to be installed in more rental flats
The button lets seniors – particularly those living alone or without family support – reach emergency services with a single press. ST PHOTO: JASON QUAH Award-winning wireless alert device for seniors to be installed in more rental flats SINGAPORE - A local firm has clinched a contract potentially worth more than $50 million to extend its emergency buzzer system for seniors to 170 additional rental blocks over the next five years after a successful pilot since 2019. The wall-mounted, wireless red button lets seniors – particularly those living alone or without family support – reach emergency services with a single press. The expanded roll-out is part of a second contract awarded to local tech firm Buddy of Parents (BOP) in early 2025 by the Government Technology Agency (GovTech) to procure wireless alert devices for more seniors in Housing Board rental flats over the next five years. Specialising in wireless devices and seniorcare tech, BOP is owned by Singapore-based iWow Technology, which made a name for itself developing the TraceTogether contact-tracing tokens used here during the Covid-19 pandemic. On May 29, BOP received a $1 million grant under DBS Foundation's Impact Beyond Award for its efforts to support seniors and caregivers through smart technology. The award will support the development of new products and the firm's outreach to vulnerable seniors and international growth, said BOP executive director Chen Jer Yaw. Mr Chen said: 'As part of the grant, there are milestones that we will have to hit, such as the number of people that will be benefited by our products and services... We are committed to fulfilling these milestones and to support more seniors.' The company will focus on the distribution of emergency buzzers for HDB, which is expanding its initiative to provide wireless alert devices to seniors. A total of some 36,800 seniors aged 60 and above are expected to have the devices installed free of charge by 2030, according to a spokesperson for HDB. As at February, at least 10,000 seniors living in 50 public rental blocks have had the wireless devices installed, HDB's spokesperson added. Seniors with older models will soon receive a new device, which has improved durability and performance. Each BOP button is connected to a 24-hour hotline, giving vulnerable seniors, especially those who live alone or lack family support, a way to seek help in life-and-death situations. (From left) IOT Solutions EVP Chen Jer Yaw, CEO and executive director Raymond Bo and chief marketing officer Ashokan Ramakrishnan with iWow's new wireless alarm system for seniors. ST PHOTO: JASON QUAH The alert systems have been triggered around 20,200 times, ince the system's roll-out to rental flats in November 2019, according to HDB. Roughly 1,600 required emergency help, while the rest were non-urgent calls or accidental presses, it said. The button is an upgrade of an older pull-cord system, which seniors can use to activate an alarm at their block's void deck to alert people in the vicinity or to an active ageing centre during working hours. The new devices come with better batteries that exceed five years, and two-way voice calling for users to speak to operators over the phone. They are also resistant to water and dust – a requirement under GovTech's tender – so the devices can be placed reliably in bathrooms, where the risk of falls is higher. Announced by iWow in February, the contract with GovTech includes the option to purchase its fall detector module and portable alert device over the next 10 years. BOP's catalogue of devices includes a wall-mounted infrared scanner with image-recognition software to tell when someone has fallen and is in need of assistance. The DBS Foundation awarded three other businesses, which are tackling urgent needs among ageing residents, from nearly 100 submissions worldwide. One of them is Hong Kong's Evercare Health – a health tech platform which developed a mobile app for patients and caregivers to schedule appointments, contact staff members and make payment. The award will support the firm's development of AI-powered medical notes to improve the efficiency of healthcare services. DBS also awarded India's Life Circle Health Services, which operates a mobile app that connects families with trained caregivers based on their needs. DBS Bank has disbursed $21.5 million in grant funding for more than 160 social enterprises and recipients since 2015. Join ST's Telegram channel and get the latest breaking news delivered to you.
