Eight outstanding companies from Singapore, Malaysia and Hong Kong honoured at the 2023 Emerging Enterprise Awards

Media Releases

November 23, 2023 10 minutes

Singapore, 23 November 2023 – Eight companies from Singapore, Malaysia and Hong Kong emerged top winners at the 2023 Emerging Enterprise (EE) Awards. This is the first year that applications were opened to emerging businesses across the region. Over 600 applications from a broad mix of industries were received, which included more than 200 applications from overseas companies. A total of 30 companies were selected as finalists.

Emerging Enterprise Award

Singapore-based CoNEX Healthcare Pte Ltd and ProfilePrint Pte Ltd, as well as Malaysia-based TROOPERS Innovation Sdn Bhd received the Emerging Enterprise Award which recognises emerging enterprises that demonstrate an enterprising mindset that drive consistent, significant and sustainable growth, resulting in excellent business performance. These businesses also displayed the ability to scale and expand overseas.

They each won a 2-year interest-free term loan from OCBC of up to S$200,000 (or local currency equivalent); media publicity in The Business Times’ print, digital, social media, radio, and podcast channels for Singapore and the region; as well as a business consulting package from RSM worth S$30,000.

Emerging Enterprise Sustainability Award

A new award – the Emerging Enterprise Sustainability Award – was introduced this year. It recognises emerging enterprises that are capitalising on growth opportunities in the green economy. These businesses take pride in embedding sustainability in their operations and leveraging technology and innovative solutions to drive the transition towards low-carbon economies.

Singapore-based Redex Group Pte Ltd and N&E Innovations Pte Ltd, as well as Hong Kong-based Flex Fuel Hydrogen Development Limited received the Emerging Enterprise Sustainability Award. They each won a 2-year interest-free term loan from OCBC of up to S$200,000 (or local currency equivalent) as well as media publicity in The Business Times’ print, digital, social media, radio, and podcast channels for Singapore and the region.

In addition, Aprisium Pte Ltd and NEU Battery Materials Pte Ltd, both Singapore-based, were conferred the Most Promising Sustainability Startup Award which recognises startups that have developed a unique and commercially viable idea that has the potential to be sustained in the long run.

They each won a 2-year interest-free term loan from OCBC of up to S$100,000 (or local currency equivalent) as well as media publicity in The Business Times’ print, digital, social media, radio, and podcast channels for Singapore and the region.

The winners received the awards from Guest-of-Honour Mr Tan Kiat How, Senior Minister of State for Communications & Information and National Development at The Ritz Carlton, Millenia Singapore on 23 November 2023.

More details on the winners can be found in the Annex.

Launched in 2008 and now in its 16^th year, the EE Awards is an annual event that recognises the bold ambition of young businesses in Singapore and the region that are under ten years old, celebrating their business innovation, resilience and excellence. It is jointly organised by The Business Times, Singapore’s only financial daily published by SPH Media, and OCBC, Asia's Best SME Bank.

Ms Chen Huifen, Editor, The Business Times, said: “We are encouraged by this year's crop of finalists, many of which had clear vision and growth pathways, and the courage to challenge conventional processes and thinking to create niches for themselves. Some even set out to be regional or even global players right from the start. We hope all the finalists, regardless of whether they are winners or not, will be proud of themselves for having made it to the finals, because they beat hundreds others to arrive here today.”

Ms Christie Chu, Head, Emerging Business and Commercial Banking Cash, Global Commercial Banking, OCBC, said: “It is very encouraging to see the bumper crop of submissions from the region this year, representing a broad range of industries. This signals that establishing the new Emerging Enterprise Sustainability Award and opening up submissions to the region were the right moves to meet growing demand from SMEs for a platform to have their achievements recognised. As Asia’s best SME Bank, we look forward to showcasing even more promising businesses from the region through the EE Awards platform in the coming years. We applaud this year’s winners for their success and are confident they will continue to thrive despite ongoing challenges in the business environment.”

The 2023 EE Awards are supported by Mastercard, Oliver Wyman, Rajah & Tann Asia, RSM - Singapore, A*Star - Agency for Science, Technology and Research, Enterprise Singapore and Paia Consulting.

For more information on EE 2023, please refer to the Annex or visit: https://www.businesstimes.com.sg/events-awards/emerging-enterprise

Attachments:

Annex

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ANNEX

About the Emerging Enterprise Awards (EE)

The Emerging Enterprise Awards is jointly presented by The Business Times & OCBC, Asia's Best SME Bank, this award honours the bold ambition of the region’s young businesses which are under ten years old, and have an annual turnover of up to $20 million. The annual EE Awards are supported by Mastercard, Oliver Wyman, Rajah & Tann Asia, RSM Singapore, A*Star, Enterprise Singapore and Paia Consulting.

Since its inception in 2008, the Emerging Enterprise has been empowering startups and young businesses under 10 years old in Singapore by providing them with resources to help them reach their full potential. Now in its 16th year, the Emerging Enterprise Award has gone green and regional. Co-presented by OCBC and The Business Times, this year’s edition saw the introduction of the new Emerging Enterprise Sustainability Award, which recognised emerging enterprises that are capitalising on growth opportunities in the green economy. These businesses take pride in embedding sustainability in their operations and leveraging technology and innovative solutions to drive the transition towards low-carbon economies.

The winners of EE 2023 were decided by a panel of distinguished judges from established corporations.

Judging Panel

The winners were selected by a judging panel which includes:
1. Ms Christie Chu, Head, Emerging Business and Commercial Bank Cash, OCBC (Chief Judge)
2. Ms Iris Ng, Head Of Middle Market For Global Commercial Banking, OCBC
3. Ms Chen Huifen, Editor, The Business Times
4. Mr Kenneth Lim, Deputy News Editor For Environmental, Social And Governance Issues, The Business Times
5. Ms Deborah Heng, Country Manager, Singapore, Mastercard
6. Mr Jonathan Yuen, Head, Legal Basix, Rajah and Tann
7. Ms Lee Weilin, Head, Sustainability Partner, Banking & Finance, Rajah and Tann
8. Ms Woo E-Sah, Partner, RSM
9. Mr Timothy Colyer, Head of Climate and Sustainability, Asia Pacific, Oliver Wyman
10. Mr Lee Han Boon, Director, Innovation and Enterprise, A*STAR
11. Ms Radiana Soh, Director (Chemical, Materials & Sustainability), Innovation & Enterprise Group, A*STAR
12. Mr Soh Leng Wan, Assistant Chief Executive Officer, Manufacturing & Engineering, Enterprise Singapore
13. Mr Geoffrey Yeo, Assistant Chief Executive Officer, Enterprise Singapore 14. Mr Corrado Forcellati, Managing Director, Paia Consulting

Winners and Award Categories

A. Winners

Emerging Enterprise Award

Company	Description
CoNEX Healthcare Pte Ltd	Singapore-based CoNEX developed PreSAGE – a patient-monitoring solution for healthcare and eldercare applications. By utilising thermography sensors, CoNEX combines proprietary artificial intelligence models with novel image processing techniques to monitor and predict patient movement in a privacy-preserved manner. Co-developed with Tan Tock Seng Hospital, PreSAGE has been adopted as the standard fall mitigation care solution for high fall risk patients in public and private hospitals, long term care facilities and even residential homes that enable seniors to age in-place safely.
ProfilePrint Pte Ltd	ProfilePrint is an AI-driven ingredient quality platform powered by a patented digital food identity-as-a-service (IDaaS) technology. ProfilePrint synthesises complex molecular data of ingredient samples into digital fingerprints, rapidly predicting its identity and quality, helping agribusinesses to buy and sell better. Backed by the world’s largest food ingredient conglomerates and international venture funds, ProfilePrint is a Singapore-based company with a global footprint.
TROOPERS Innovation Sdn Bhd	Malaysia-based TROOPERS is a digital HR tech platform for flexible work that aims to grant equitable access to flexible work for Malaysians. Since inception in 2017, TROOPERS has grown to become Malaysia’s flexible job-matching platform and works with companies across Malaysia to meet all their flexible manpower needs. The TROOPERS App launched in 2021 has garnered over 215,000 verified users, generating over RM 30 million in income for gig workers with more than 200,000 shifts transacted on the app.

Emerging Enterprise Sustainability Award

Company	Description
Redex Group Pte Ltd	Singapore-based Redex Group Pte Ltd operates Asia’s leading trading platform for Renewable Energy Certificates (RECs). The company offers a one-stop ecosystem for RECs, supporting clients through the full RECs lifecycle – asset registration, production verification, marketplace, and retirement. As an early mover in Asia with a proven track record, REDEX is developing practical and innovative solutions to meet the renewable energy needs of corporates globally. The company’s mission is to accelerate the world’s transition towards renewable energy.
N&E Innovations Pte Ltd	Singapore-based N&E Innovations developed a circular economy application to transform food waste into Vikang99, a first-in-the-world, potent antimicrobial agent derived from upcycled food waste. Its production process is chemical-free. This reduces greenhouse gas production and offers sustainable alternatives to traditional antimicrobial agents like titanium dioxide, which can harm the environment and human health. Vikang99 has been integrated into a range of products including Vi-Mask, a CE-certified mask made from bamboo fibers and naturally blended C2Plus line of disinfectants, that provide protection against coronaviruses for up to six months.

Most Promising Sustainability Startup Awards

Company	Description
Aprisium Pte Ltd	Singapore-based Aprisium is a sustainability-focused deep tech startup delivering autonomous, continuous, on-site-deployed, live, contamination detection and monitoring devices. Direct insights are sent to customer browsers, helping them proactively manage and address their contamination hazards. Aprisium’s solutions support customer profitability and sustainability efforts in the wastewater, data centre and industrial space.
NEU Battery Materials Pte Ltd	NEU Battery Materials is a Singapore-based lithium battery recycling company. Using a patented clean recycling method, it recycles lithium batteries from phones for use in electric vehicles. This is crucial to support the rapid growth in electric vehicles. Backed by partners like Temasek Foundation, SGInnovate, ComfortDelgro, Momentum VC and others, NEU is building an automated recycling facility in Singapore to provide an avenue for clean and sustainable recycling.

B. Award Categories and Prizes

For Emerging Enterprise Award Category:

1. 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.

Prizes (Up to 3 winners will each receive:)
• OCBC – a 2 year, interest-free term loan of up to S$200,000 (or local currency equivalent, as set out in the terms and conditions);
• The Business Times – Media publicity in print, digital, social media, radio, podcasts for Singapore and the region
• RSM – Business Consulting Package worth S$30,000

2. Most Promising Startup Award

Prizes
• OCBC – a 2 year, interest-free term loan of up to S$100,000 (or local currency equivalent, as set out in the terms and conditions); and
• The Business Times – Media publicity in print, digital, social media, radio, podcasts for Singapore and the region.

For Emerging Enterprise Sustainability Award Category:

1. Emerging Enterprise Sustainability Award

Recognises emerging enterprises that are capitalising on growth opportunities in the green economy, embedding sustainability in their businesses and leveraging technology and new solutions to drive the change and transition to low-carbon businesses and industries.

2. Most Promising Sustainability Startup Award