SINGAPORE - Nominations are now open for the Emerging Enterprise Awards 2024, which recognises young businesses across Singapore, Hong Kong, Indonesia and Malaysia that demonstrate entrepreneurial spirit, innovation and resilience.
Jointly presented by The Business Times and OCBC Bank, the annual awards are now in their 17th year. They are open to companies with up to 10 years of operations, or up to three years for the Most Promising Start-up and Most Promising Sustainability Start-up Awards; and an annual sales turnover of up to $20 million or the company’s local currency equivalent.
Applications for the Emerging Enterprise Awards 2024 close on June 7. Interested businesses can find more information and sign up here.
BT editor Chen Huifen noted that the Emerging Enterprise Awards has been a “beacon of possibility” for young enterprises since their launch in 2008.
“In the tapestry of entrepreneurship, small and fast-growing businesses represent the vibrant threads of innovation, passion and resourcefulness,” said Ms Chen.
2024’s award categories include the Emerging Enterprise Award and the Emerging Enterprise Sustainability Award.
The flagship Emerging Enterprise Award recognises young businesses that demonstrate an enterprising mindset, while driving consistent, significant and sustainable growth, and scaling up and expanding overseas. This award will be given out to up to three enterprises.
Additionally, one enterprise that demonstrates a strong start-up spirit and has developed a unique and commercially viable idea with long-term potential, will stand to walk away with the Most Promising Start-up Award.
Separately, the Emerging Enterprise Sustainability Award, which was introduced in 2023, recognises small and medium-sized enterprises (SMEs) that are capitalising on growth opportunities in the green economy, embedding sustainability in their businesses and leveraging technology and new solutions to transition to low-carbon businesses and industries.
There are two awards under this category: the Emerging Enterprise Sustainability Award (up to three recipients) and the Most Promising Start-up Sustainability Award (one recipient).
OCBC head of emerging business and commercial banking cash Christie Chu noted that both award categories received strong participation in 2023 from the “rapidly growing” pool of new and young businesses around the region.
“It shows that the awards remain a compelling platform to showcase and celebrate the achievements of SMEs and resilient entrepreneurs across the region,” said Ms Chu
The prizes in 2024 include a two-year, interest-free term loan of up to the equivalent of $200,000 in the winner’s local currency, and a consulting package for growing businesses worth $30,000.
Past winners of the Emerging Enterprise Awards include gaming chair maker Secretlab, smart bicycle helmet maker Lumos Labs and rewards platform ShopBack.
The Emerging Enterprise Awards 2024 is supported by Mastercard, Rajah & Tann Asia, RSM – Singapore, the Agency for Science, Technology and Research, Enterprise Singapore and Paia Consulting. THE BUSINESS TIMES
