DBS : Indonesian Mushroom-Based Fashion Collection Showcased at Paris Fashion Week as Part of Sustainable Evolution | Bahasa

Indonesian Mushroom-Based Fashion Collection Showcased at Paris Fashion Week as Part of Sustainable Evolution | Bahasa Bank DBS Indonesia supports Mycotech Lab (MYCL) to create a better world through the 'DBS Foundation Social Enterprise (SE) Grant' programme

Indonesia, 06 Aug 2021 - Mushrooms, known for their nutritional values, are now considered as an alternative to leather and conventional building materials. It may sound implausible, but these humble food ingredients are actually being processed into renewable and sustainable materials such as leather for bags, home furnishing items and clothing, thanks to innovative technology start-ups like Mycotech Lab (MYCL).

MYCL is an Indonesian social enterprise founded in 2015 that focuses on creating a positive social impact. This social enterprise creates building materials and products from the thread-like vegetative parts of a fungus otherwise known as mycelium. Born out of concern about the amount of unused oyster mushroom waste being burned, MYCL utilizes the waste to prevent food loss. Using the process to make tempeh, MYCL uses mycelium as a binding agent for agricultural waste such as corn husks and wood chips then grows it into a material called Mylea^TM. It is fireproof, waterproof, and flexible, and can even be made into various experimental faux leather creations. Interesting, right?

With a mission to bring to light the impact of the traditional leather industry on the planet, MYCL sells its technology to construction and fashion companies. MYCL collaborated with Doublet, a leading Japanese street wear label, to launch the Mylea^TM based collection developed by MYCL. The runway collection was showcased at the Paris Fashion Week in June 2021.

Doublet replaced the leather in this fashion collection with Mylea^TM, a leather-like material made from mushroom mycelium grown by MYCL Biomaterials. Compared to leather, Mylea^TM can grow into a leather-like material in shorter duration and consumes less water. In addition, Mylea^TM emits significantly less carbon and doesn't use harmful chemicals or heavy metals in its manufacturing process. This minimises harmful risks, not only to the environment but also to human health. And, most importantly, no animals are harmed during the process.

Using the Spring Summer 2022 (SS22) collection concept, MYCL and Doublet wanted to invite the public to dare to show concern for a better environment by feeling confident in their own fashion sense regardless of the current stereotypes. MYCL believes that caring for the environment can be done by embracing sustainable alternatives such as switching from animal hides to mushroom fibers.

MYCL Co-Founder Ronaldiaz said, 'The adoption of a more environmentally friendly lifestyle is not a trend but a necessity. It's not the Earth that needs us; we need the Earth. With MYCL, we are trying to save the Earth by offering a sustainable alternative through the use of mushroom fiber in place of animal hides. We are pleased that our environmental sustainability mission is similar to, even supported by, institutions such as Bank DBS.'

MYCL's mission is supported by Bank DBS Indonesia, which shares the same concern as a purpose-driven bank. In 2016, Bank DBS Indonesia through DBS Foundation provided a grant to MYCL through the DBS Foundation Social Enterprise (SE) Grant programme to support the development of a sustainable biomaterial prototype designed by MYCL.

In addition to the grant, DBS Foundation also provided mentoring to MYCL to help the company overcome various business challenges. Following the successful development of a working prototype and scalable business model, in 2018 MYCL was subsequently awarded a grant by DBS Foundation to support its plans to increase production and establish an intellectual property strategy.

'Bank DBS Indonesia through DBS Foundation continues to support the growth and development of social enterprises in Indonesia who seek to solve social problems by creating a positive impact on the environment. We provide support through a variety of programmes, from mentoring sessions to grants. We are happy that through our programmes and coaching we can contribute positively to the development of MYCL,' said Mona Monika, Executive Director, Head of Group Strategic Marketing & Communications, PT Bank DBS Indonesia.

Being a bank driven by sustainable goals is the DNA of Bank DBS Indonesia. Therefore, DBS Bank continues to innovate to become a bank that prioritises a balance in economic, social, and environmental (Economy, Social, Governance-ESG) aspects. Bank DBS Indonesia's effort is based on the awareness of its role as a financial institution that runs a sustainable business for future generations and the environment. This is also implemented through leading and trusted banking services, and curated according to customer needs in line with technological developments. Bank DBS Indonesia also initiated the 'Towards Zero Food Waste' movement in the #MakanTanpaSisa campaign to educate and increase public awareness in reducing and managing food waste. Through these efforts, Bank DBS Indonesia hopes to create a better world.

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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 12 consecutive years from 2009 to 2020.

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, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

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.