Applications open for Emerging Enterprise Awards 2025

Applications are now open for the Emerging Enterprise Awards 2025, which recognize young businesses across Asia that demonstrate entrepreneurial spirit, innovation, and resilience.

Jointly presented by The Business Times and OCBC, the annual awards are now in their 18th year. These accolades are open to companies with up to 10 years of operations – except for the Most Promising Startup and Most Promising Startup Sustainability category, which requires up to three years – and an annual sales turnover of up to S$20 million or the company’s local currency equivalent.

The eight winners of the Emerging Enterprise Awards 2024 / Photo credit: Yen Ming Jiin, The Business Times

Applications close on June 30. Interested businesses can find more information and sign up here.

There will be 30 businesses on the shortlist, and winners will be announced at the end of November.

“As the 18th Emerging Enterprise Awards happens during a pivotal time of a shifting world order, we are seeking bold entrepreneurs who are redefining what it means to lead in a dynamic regional landscape,” says Chen Huifen, editor at The Business Times.

“Being responsive, adaptable, and innovative are necessary traits,” she adds. “This is especially so when global uncertainty is at a high, and new ideas and novel applications could help to drive the region’s next phase of growth.”

The flagship Emerging Enterprise Award recognizes young businesses that demonstrate an enterprising mindset, drive consistent, significant, and sustainable growth, and show the ability to scale up or expand internationally. Up to three enterprises will receive this accolade.

The Most Promising Startup Award will be presented to one enterprise that demonstrates a strong startup spirit and has developed a unique and commercially viable idea with long-term potential.

Separately, the Emerging Enterprise Sustainability Award, which was introduced in 2023, recognizes young enterprises that are capitalizing on growth opportunities in the green economy, embedding sustainability in their operations, and moving to low-carbon business models through technology and innovation. There will be up to three recipients of this award.

Meanwhile, the Most Promising Startup Sustainability Award will also be conferred on one startup with a commercially viable green or sustainability-related business model that has strong long-term potential.

Christie Chu, head of emerging business and commercial banking cash at OCBC’s global commercial banking unit, said that in the challenging macroeconomic climate, this regional awards platform is more important than ever in helping SMEs stand out.

“Through the years, there has been good participation from young businesses that go on to scale and achieve greater things,” she adds.

This year’s prizes include a two-year interest-free term loan of up to S$200,000 or the equivalent in the winner’s local currency, as well as a consulting package by RSM Singapore worth S$15,000.

If the winner of an award is not incorporated or formed in Singapore, Malaysia, Indonesia, or Hong Kong, they must set up a corporate entity in any of those locations to receive the term loan.

Last year, the awards drew more than 650 applications from a broad mix of industries across Asia. Winners included express facial provider Kskin Management, healthcare company PanCare Medical, as well as Hong Kong-based Fano Labs.

Receiving the Emerging Enterprise Sustainability Award were maritime solutions firm Pyxis Maritime, shuttle service provider RushOwl Singapore, and Indonesia-based carbon investment and management company Peduli Alam Nusantara.

The Emerging Enterprise Awards 2025 are supported by Mastercard, Rajah & Tann Asia, RSM Singapore, the Agency for Science, Technology and Research, Enterprise Singapore, as well as Paia Consulting.

This story was republished with permission from The Business Times. It was moderately edited to reflect Tech in Asia’s editorial guidelines.