Applications open for Emerging Enterprise Awards 2024, now in their 17th year

Photo credit: The Business Times

Nominations are now open for the Emerging Enterprise Awards 2024, which recognize 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 Startup and Most Promising Sustainability Startup awards, and an annual sales turnover of up to S$20 million (US$14.8 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.

Chen Huifen, editor of The Business Times, noted that the Emerging Enterprise Awards have 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 Chen.

This year’s award categories include the Emerging Enterprise Award and the Emerging Enterprise Sustainability Award.

The flagship Emerging Enterprise Award recognizes 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 startup spirit and has developed a unique and commercially viable idea with long-term potential will stand to walk away with the Most Promising Startup Award.

Separately, the Emerging Enterprise Sustainability Award, which was introduced in 2023, recognises small and medium-sized enterprises (SMEs) that are capitalizing 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 Startup Sustainability Award (one recipient).

Head of emerging business and commercial banking cash at OCBC Christie Chu noted that both award categories received strong participation last year 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 Chu.

This year’s prizes include a two-year interest-free term loan of up to the equivalent of US$149,000 in the winner’s local currency, and a consulting package for growing businesses worth US$22,300.