Awards to recognise innovative, resilient and sustainable SMEs

Singapore

THIS year's Emerging Enterprise Awards 2021 - once again being held during the Covid-19 pandemic - will look to recognise small and medium-sized enterprises (SMEs) that demonstrate innovation, resilience and sustainability despite going through tough circumstances.

The awards, jointly organised by The Business Times and OCBC Bank, are held annually to celebrate and recognise emerging businesses with an enterprising mindset. They are now in their 14th year.

With the impact of Covid-19, businesses have had to pivot and diversify through innovation and resilience.

Wong Wei Kong, editor of The Business Times, said that while a second year of the pandemic has put enormous stress on businesses, there are still those that continue to do well and find opportunities to grow.

"In this climate, it is even more important to recognise them and hold them up as encouragement for others, which is what Emerging Enterprise Awards 2021 aims to do," he said.

Christie Chu, head of emerging business and commercial banking cash, global commercial banking at OCBC Bank, said that entrepreneurship has always been a difficult journey and the challenges have been compounded by the pandemic.

"For SMEs, this has been a true test of their mettle and they have responded with remarkable resilience. Together with The Business Times and other key partners, we remain committed to spotlight the very best of young businesses, whose agility, innovation and grit have helped them navigate the crisis thus far and position them for long-term growth," she said.

Since 2008, the award has been empowering startups and young enterprises with both recognition and resources to take flight and achieve stellar growth.

Among the previous winners are gaming chair manufacturer Secretlab, online platform TreeDots Enterprise and e-commerce platform ShopBack.

The most outstanding businesses will be recognised through four awards: the Emerging Enterprise Award, the Best Innovation Award, the Most Promising Startup Award, and the Sustainability Award.

To qualify, companies must have been in operation for at most 10 years, and a minimum of 30 per cent of shareholdings must be owned by Singapore citizens or Singapore permanent residents.

They also need to have an annual sales turnover of up to S$20 million as at the last financial year, and be registered as a sole proprietorship, partnership, limited partnership, limited liability partnership or private limited company in Singapore.

This year's Emerging Enterprise Awards has partnered Google Cloud, whose Google Cloud solution accelerates organisations' ability to digitally transform their business, as well as the Agency for Science, Technology and Research (A*Star), Singapore's lead public sector R&D agency that advances scientific discovery and develops innovative technology.

All seven winners will receive innovation vouchers worth up to S$1 million from A*Star together with credits and coaching sessions from Google Cloud.

Businesses can apply for the awards from Aug 3 to Sep 3. The top 15 finalists will be selected on Oct 20, with the winners to be announced on Dec 8. For more information, visit www.businesstimes.com.sg/awards/ee