Singapore, 24 July 2020 - 2020 marks thirteen years of the Emerging Enterprise Awards, which celebrate and recognise emerging businesses with an enterprising mindset. This year’s EE2020, held against a unique backdrop brought upon by the COVID-19 pandemic aims to award SMEs that demonstrate innovation, resilience and sustainability amid tough circumstances.
In order to qualify for the Awards, companies must have been in operations for at most 10 years and a minimum of 30 percent 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.
Businesses can start to apply for the awards from 28 July to 28 August 2020 via this link and the top 15 finalists will be selected on 14 October. Winners will be announced on 9 December.
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.
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.
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.
Recognises emerging enterprises that serve the underserved, create greater good for community, environment and society.
Mr Wong Wei Kong, Editor of The Business Times, said: “Under such unprecedented circumstances, it is extremely imperative that emerging businesses focus on survival, rebuilding and growth in order to ride through these tough times. We hope that the Awards, along with its theme 'Innovate, Resilient, Sustainable' will serve as encouragement and inspiration for all the young businesses out there.”
Ms. Christie Chu, Head, Emerging Business and Commercial Banking Cash, Global Commercial Banking, OCBC Bank, said: “With the scale of the pandemic different from previous challenges, start-ups and young businesses have had to adapt quickly to cope with it. Many of them have been ‘simply spot on’ - showing resilience and the ability to reinvent themselves to emerge stronger. The Emerging Enterprise Awards aim to give them the due recognition. By showcasing these businesses, we also hope that they can encourage and inspire others to ride out the current crisis.”
For more information about EE2020, please visit https://bt.sg/eea2020
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About The Business Times
The Business Times, a member of the Singapore Press Holdings group, is South-east Asia's leading financial daily. BT brings to its readers daily corporate, financial, economic and political news, analysis and commentary on print and digital platforms. It provides readers with in-depth coverage of Singapore and Asian business and economic developments, as well as global trends that impact Singapore business. BT's lifestyle journalists bring busy executives the latest in recreation, entertainment, the arts, design, food and shopping.
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About OCBC Bank
OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC Bank is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.
OCBC Bank and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.
OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has more than 570 branches and representative offices in 19 countries and regions. These include about 300 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and over 90 branches and offices in Mainland China, Hong Kong SAR and Macau SAR under OCBC Wing Hang.
OCBC Bank’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals.
OCBC Bank's insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia.
For more information, please visit www.ocbc.com.