This year, EE2010 has garnered the support of two new partners, Acorn Marketing and Research and SingTel, both of which are well-established names in their respective industries. Acorn Marketing and Research will offer each winner S$30,000 worth of brand and product development research services, while SingTel will sponsor the Best Innovation Award, amounting to S$30,000 in business infocomm technology solutions, for one winner.
According to various market estimates, there are about 160,000 enterprises in Singapore and SMEs make up 99% of them. Of these, around 10% have a yearly turnover of S$10 million and above. The remaining 90% are mainly small or start-up businesses which would require additional resources and wholehearted support from many quarters, including financing, business advice and technology, in order to develop to their full potential. It is this group of SMEs that the award aims to reach out to.
This year, five more promising emerging enterprises stand a chance to vie for the top three positions. Instead of 10 top finalists, 15 top finalists will be shortlisted for the final round of judging.
Similar to last year’s event format, 15 top finalists will be shortlisted to make their presentations in early May 2010 to the judging panel made up of representatives from EE2010’s partners. Up to three winners and one Best Innovation Award winner will be honoured in an award ceremony in mid May 2010.
Mr Alvin Tay, Editor of The Business Times (BT), said “BT’s expanded editorial coverage on SME issues reflects our strong belief in the sector's vital role as a key driver of Singapore’s economic growth and a creator of value through differentiated products and services. We have been pleased with the response to the Emerging Enterprise Award in its first 2 years, particularly the quality of the winners and the finalists. As co-presenter and media partner of EE2010, BT will continue to champion the SMEs’ success stories and recognise their achievements.”
With a long tradition of supporting the homegrown enterprises, OCBC Bank is one of the first banks to focus on serving the needs of the emerging businesses. The Bank is proud to return as the co-organiser of EE2010 for the third year running.
Said Mr Tan Chor Sen, Head of Emerging Business, Enterprise Banking, OCBC Bank: “This Award goes beyond providing the winners with funding as the prize winnings also provide the know-how to further build on their capabilities and bring their business to the next level. It also validates the efforts and credibility of the winners and open opportunities for them – new business partners, new markets and equity sponsors – as they grow and compete with the bigger players in the business arena.
By giving these businesses due recognition, we hope to inspire more thriving emerging businesses to scale greater heights and build their businesses into world-class brand names.”
As a show of its confidence in the potential of the winners, OCBC Bank also has the option to invest in the award recipients’ businesses and help them grow to their fullest potential.
Said Mr George Lee, Head, Group Investment Banking, OCBC Bank: “Despite a difficult 2009, we supported Emerging Enterprise 2009 and funded the 3 winning companies, helping them expand their businesses. I am pleased that we could continue our support this year, in EE2010, to once again reach out to the smaller enterprises, recognizing their achievements and rewarding them with tangible assistance and resources to help them grow. Now in its third year, this award program has become a key event in the calendars of many small businesses that I know of, and has encouraged many companies to vie for the winning positions. Every year, I look forward to meeting these entrepreneurs and never fail to be impressed by their business acumen, determination and perseverance. Together with Business Times and this year's co-partners, I look forward to honouring more small business entrepreneurs through EE2010."
Other than the organisers, The Emerging Enterprise Awards is made possible with support from likeminded partners, including SPRING Singapore, RSM Chio Lim, NUS Extension, Acorn Marketing and Research and SingTel. Here is what some the partners have to say:
Ms Chew Mok Lee, Group Director (Entrepreneurship & Innovation), SPRING Singapore:
“SPRING’s support for EE 2010 is in line with our objective of nurturing innovative startups to groom them into growth-oriented enterprises. We want to help emerging enterprises, especially the innovative ones, to build and enhance their capabilities to drive their future growth. We urge promising SMEs to come forward to participate in EE 2010.”
Mr Lim Lee Meng, Senior Partner of RSM Chio Lim:
"2009 witnessed the financial storm of the decade. The resilient who braved the storm can now relish the opportunities that are starting to emerge. EE2010 is one of them that is greeting emerging enterprises in the new year. RSM Chio Lim is pleased to be the official auditor for the third year to help unearth the gems among survivors of the storm."
SMEs that meet the qualifying criteria can register for the award and submit their business plans till
12 March 2010.For more information on Emerging Enterprise 2010, visit
www.asiaone.com/EE2010.