NWD's Impact Kommons-backed Green Startups Clinch DBS Social Impact Prize For Advocating Social Innovation, Co-creating A More Sustainable Future

HONG KONG, June 29, 2022 /PRNewswire/ -- New World Development Company Limited ("NWD", the "Company" or the "Group", Hong Kong stock code: 00017) announced today that 11 Hong Kong and global companies onboarded by NWD's accelerator Impact Kommons have been recognised by DBS Social Impact Prize for their culturally-driven, sustainability-oriented technology solutions, piloting their waste management and upcycling innovation in practice across the Group's businesses. Shoring up green innovation for a more sustainable future, Impact Kommons is soon to start recruiting the next cohort.

DBS awards social impact prizes to innovative impact startups, businesses and social enterprises through different programmes in Asia. Impact Kommons is Asia's first accelerator based on the United Nations Sustainable Development Goals (UNSDGs) and powered by NWD's open innovation platform Eureka Nova and DBS Bank (Hong Kong) Limited ("DBS"), supporting tech enterprises and startups to co-create and address the New World Sustainability Vision 2030 (SV2030) within the New World Ecosystem.

Diverse businesses from climate tech to AI, among 11 winners

The 11 winners of the DBS Social Impact Prize in the third cohort of Impact Kommons specialise in waste management, upcycling, climate tech, healthcare, artificial intelligence, green packaging and more. Continuing to answer the urgent call for corporate climate action, NWD has recently become the third real estate developer in Asia to receive Science Based Targets initiative's (SBTi) approval of its near-term 1.5°C aligned science-based targets (SBTs) and commit to the SBTi Net-Zero Standard.

Ben Wong, Head of Open Innovation, Eureka Nova, New World Development, said: "The awards received today from DBS are recognition of the outstanding achievements of not just the startups themselves, but of the Impact Kommons programme as well. We at NWD are inviting and welcoming even more like-minded partners as we continue to harness the collective power and synergy in co-creating as well as creating shared value that will enable us to accelerate real-world progress in transitioning to a net-zero future."

Amy Wu, Executive Director and Head of Group Strategic Marketing and Communications, DBS Bank (Hong Kong) Limited, said: "As a purpose-driven bank, DBS architected a holistic sustainability agenda around the three pillars of responsible banking, responsible business practises and impact beyond banking. The DBS Social Impact Prize was created to support innovative startups and businesses that focus on solving social and environmental challenges across Asia. We look forward to bringing greater collective impact by working with and empowering high-impact enterprises to unleash their full potential to make a lasting difference for a more sustainable future."

Coffee grounds turned biochar for soil remediation

Urban agricultural enterprise Mindfield and mensural menstrual wellness advocate LUÜNA Naturals are among the 11 award-winning startups that have been engaged with NWD's tenants and clients. As a first mover of its kind in Hong Kong, Mindfield is collecting coffee grounds from the Group's tenants, diverting it from landfill and producing biochar for soil remediation and grow media in the landscaping to improve soil quality. Leveraging the success of a three-month pilot at K11 ATELIER King's Road, the scheme has also extended to THE FOREST.

LUÜNA Naturals works with K11 Art Mall to provide environmentally-friendly organic cotton feminine hygiene products through dispensers in the mall's bathrooms. LUÜNA will also donate the equivalent amount of products sold to vulnerable girls in Hong Kong's ethnic minority community. Other notable startups in the third cohort have also had success, including Breer, which is partnering with Hong Kong Golf & Tennis Academy to brew a test batch of beer by utilising excess panettone bread. Meanwhile, V Visionary has provided under resourced women with training on redesigning and upcycling of clothes to create high quality, sustainable "Made in Hong Kong" fashion products that aim to be sold at the retail channels within the New World Ecosystem.

Three years, 30 startups – Impact Kommons calls for fourth cohort applications

Since its inauguration in 2019, Impact Kommons has collaborated with 30 enterprises and startups, and spearheaded 36 integrations within and beyond the New World Ecosystem. Impact Kommons is soon to start recruiting the fourth cohort to join a four-month business integration programme, with the companies working closely with the Group's business units and partners on pre-defined business cases to solve real business problems.

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New World Development

Founded in 1970, New World Development Company Limited ("The Group", Hong Kong stock code: 00017) was publicly listed in Hong Kong in 1972 and is a constituent stock of the Hong Kong Hang Seng Index. A premium brand infused with a unique personality best defined by The Artisanal Movement, New World Group's core business areas include investment in property and property development, and investment in and/or operation of roads, commercial aircraft leasing, construction, insurance, hotels and other strategic businesses. Its Greater China operations, especially in the Greater Bay Area, had a total asset value of approximately HK$639.7 billion as at 31 December 2021. The Group's two listed companies are NWS Holdings Limited (61%), and New World Department Store China Limited (75%). New World China Land Limited is wholly owned by the Group.

About Eureka Nova

Eureka Nova is a leading open innovation platform that empowers technology startups to co-create within the New World Group ecosystem of culture, creativity and innovation. Our programmes are built to boost startup products and services with New World Group and global partners to facilitate startups' opportunities to validate and commercialise their businesses.

About DBS 

DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.Recognised for its global leadership, DBS has been named "World's Best Bank" by Euromoney, "Global Bank of the Year" by The Banker and "Best Bank in the World" by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank" by Euromoney and the world's "Most Innovative in Digital Banking" by The Banker. In addition, DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 13 consecutive years from 2009 to 2021.DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region's most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.