Singapore, 13th May 2019 – No award better honours the bold ambition of Singapore’s young businesses under ten years old than the Emerging Enterprise Award. 2019 marks twelve years of the award’s celebration of business innovation, resilience and excellence in SMEs – the bedrock of the Singapore economy.
In order to qualify for the Awards, companies must have been in operations for at most 10 years and a minimum of 30 per cent of shareholdings must be owned by Singaporeans or Singapore Permanent Residents. They also need to have an annual sales turnover of up to S$20 million as of the last financial year and be registered as a sole proprietorship, partnership, limited partnership, limited liability partnership or private limited company in Singapore.
Jointly organised by Singapore Press Holdings’ (SPH) financial daily, The Business Times, and OCBC Bank, the annual award was launched in 2008 to recognise small and medium enterprises (SMEs) that have been outstanding in their respective fields and to provide these deserving businesses with the needed resources to build on their capabilities for further growth. Emerging Enterprise Award 2019 is also supported by Mastercard, ACORN and Research Consultants, Singtel, Wavemaker, Enterprise Singapore, Rajah & Tann Legal Basix and the official auditor, RSM.
Since 2008, the award has been empowering startups and young enterprises with both recognition and resources to take flight and achieve stellar growth. The most outstanding businesses stand to win from across three coveted awards: the Emerging Enterprise Award, the Best Innovation Award, and the Most Promising Startup Award.
The Emerging Enterprise Award recognises emerging enterprises that demonstrate an enterprising mindset. These are businesses that drive consistent, significant and sustainable growth, resulting in excellent business performance; and display the ability to scale and expand overseas.
The Best Innovation Award recognises emerging enterprises with a strong culture of innovation. These are businesses that seek creative solutions to persistent problems, innovate to carve out new markets for themselves, or embrace technology to transform their businesses.
The Most Promising Startup Award recognises emerging enterprises with a strong startup spirit. These are startups that have developed a unique and commercially viable idea, which has the potential to be sustained in the long run.
Mr Wong Wei Kong, Editor of The Business Times, said: “These awards encourage and empower young businesses with recognition and resources to continue growing. It also gives them the impetus to work even harder and achieve great things! We hope that it will serve as an inspiration for up and coming startups and enterprises as well.”
Ms. Christie Chu, Head, Emerging Business and Commercial Banking Cash, Global Commercial Banking, OCBC Bank, said: “We look forward to the Emerging Enterprise Award every year because we never fail to be amazed by the ingenuity and drive of Singapore’s start-ups and young businesses. Past finalists and winners leverage this platform to scale up their businesses and exchange ideas with peers, with many becoming key industry players and household names in a few short years. This is extremely rewarding for us to see and we are excited to continue this tradition of supporting innovation and excellence within the young business segment.”
Enterprises that meet the qualifying criteria will have until May 31, 2019 to apply. For more information on Emerging Enterprise Award 2019, please visit this link