Eight outstanding companies from the region honoured at the Emerging Enterprise 2024 Awards
Singapore, 24 October 2024 – Eight companies from Singapore, Indonesia and Hong Kong clinched top accolades at the Emerging Enterprise 2024 (EE 2024) Awards.
This is the second year that applications were opened to emerging businesses across the region. Over 650 applications from a broad mix of industries were received, more than 200 of which were from Hong Kong, Malaysia and Indonesia. A total of 30 companies were selected as finalists and the winners were decided by a panel of distinguished judges from established corporations. Information on the awards can be found in the Annex.
Emerging Enterprise Awards
Singapore-based Kskin Management Pte Ltd and Pancare Medical Pte Ltd, as well as Hong Kong-based Fano Labs Limited received the Emerging Enterprise Awards, which recognises emerging enterprises that demonstrate 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 two-year interest-free term loan of up to S$200,000 (or local currency equivalent) from OCBC, media publicity in The Business Times’ print, digital, social media, radio or podcast channels in Singapore and the region, as well as a business consulting package from RSM Singapore worth S$15,000.
Emerging Enterprise Sustainability Awards
Introduced in 2023, the Emerging Enterprise Sustainability Award recognises new and upcoming 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 Pyxis Maritime Pte Ltd and RushOwl Singapore Pte Ltd, as well as Indonesia-based PT. Peduli Alam Nusantara received the Emerging Enterprise Sustainability Awards. They each received a two-year interest-free term loan of up to S$200,000 (or local currency equivalent) from OCBC, media publicity in The Business Times’ print, digital, social media, radio or podcast channels in Singapore and the region, as well as a business consulting package from RSM Singapore worth S$15,000.
In addition, both Singapore-based Life Lab Resources Pte Ltd and The Powder Shampoo Pte Ltd were conferred the Most Promising Sustainability Startup Awards which recognises startups that have developed a unique and commercially viable idea that has the potential to be sustained in the long run. They were given a two-year interest-free term loan of up to S$100,000 (or local currency equivalent) from OCBC, as well as media publicity in The Business Times’ print, digital, social media, radio or podcast channels in Singapore and the region as part of the award.
The winners received the awards from Guest-of-Honour Ms Low Yen Ling, Senior Minister of State, Ministry of Culture, Community and Youth & Ministry of Trade and Industry, at the Ritz-Carlton, Millenia Singapore today.
More details on the winners can be found in the Annex.
Launched in 2008 and now in its 17th 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 of The Business Times, said, “The Emerging Enterprise Awards has once again uncovered exceptional businesses that demonstrate innovation, passion, and resourcefulness. This year, we received one of the highest number of applications since the awards' inception 17 years ago—spanning diverse, high-growth industries, many with AI capabilities. We are especially inspired by the increasing number of women entrepreneurs. We hope their stories can challenge stereotypes and enhance the diversity and innovation of the business ecosystem.”
Ms Christie Chu, Head, Emerging Business and Commercial Banking Cash, Global Commercial Banking, OCBC, said, “Congratulations to this year’s Emerging Enterprise Award winners. The winners continue to set the benchmark for many young bold and ambitious enterprises in the region to do things differently and change the game. They are constantly finding new ways to innovate and differentiate themselves to achieve long-term growth. Many of the finalists and winners are also taking the lead in prioritising the sustainability journey and charting the build of a scalable business model. We believe that their successes will inspire other entrepreneurs not only in Singapore but also across the region to follow in their footsteps. We are confident that the recognition that comes with the EE Award will contribute to their brand building efforts and help generate value for their businesses in the long run.”
The EE 2024 Awards is supported by Mastercard, Rajah & Tann Asia, RSM Singapore, Agency for Science, Technology and Research (A*STAR), Enterprise Singapore and Paia Consulting (From CBRE).
For more information on EE 2024, please refer to the Annex or visit: https://www.businesstimes.com.sg/events-awards/emerging-enterprise
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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 is supported by Mastercard, Rajah & Tann Asia, RSM Singapore, Agency for Science, Technology and Research (A*STAR), Enterprise Singapore and Paia Consulting (From CBRE).
Since its inception in 2008, the EE Awards has been empowering startups and young businesses under 10 years old in Singapore and the region, by providing them with resources to help them reach their full potential.
The winners of EE 2024 Awards were decided by a panel of distinguished judges from established corporations.
Judging Panel
The winners were selected by a judging panel which includes:
- Ms Christie Chu, Head, Emerging Business and Commercial Bank Cash, OCBC (Chief Judge)
- Ms Chen Huifen, Editor, The Business Times
- Mr Jude Chan, Deputy News Editor (Companies & ESG), The Business Times
- Mr Lee Han Boon, Director, Innovation and Enterprise, A*STAR
- Ms Radiana Soh, Director (Chemical, Materials & Sustainability), Innovation & Enterprise Group, A*STAR
- Ms Emily Liew, Assistant Managing Director, Innovation, Enterprise Singapore
- Mr Geoffrey Yeo, Assistant Managing Director, Capabilities, Urban Systems & Solutions, Enterprise Singapore
- Ms Deborah Heng, Country Manager, Singapore, Mastercard
- Mr Corrado Forcellati, Director, Client Sustainability Strategy & Solutions, Paia Consulting (From CBRE)
- Mr Jonathan Yuen, Head, Legal Basix, Rajah & Tann
- Ms Woo E-Sah, Partner & Head of Assurance, RSM Singapore
- Mr Dennis Lee, Partner & Head of Business Consulting, RSM Singapore
Winners and Award Categories
- Winners
Emerging Enterprise Awards
| Company | Description |
| Kskin Management Pte Ltd | Singapore-based Kskin offers facial treatments using advanced Korean skincare technology and proprietary solutions, providing effective treatments within 15 minutes. The company has expanded from Singapore to Malaysia and the Philippines, and is about to open its first outlet in the US. Their primary customers are individuals seeking efficient facial treatments. Kskin differentiates itself by offering pay-per-visit services without the need for packages or appointments, and plans to launch a customer mobile app for AI skin analysis and digital booking. |
| Pancare Medical Pte Ltd | Pancare primarily provides medical GP services under Private GP and medical services projects, including Swab Isolation facilities, Community Care Facilities, Vaccination Centres, and Covid Treatment Facilities. Based in Singapore, they operate six GP clinics in heartland areas and plan to open two to three more annually, focusing on older residential neighbourhoods. Key customers include healthcare institutions, government organisations, and elderly individuals. Pancare stands out due to its strong project arm, successfully operating multiple testing and vaccination centres and a transitional care facility during the pandemic, maintaining a competitive edge over major hospitals and healthcare operators. |
| Fano Labs Limited | Hong Kong-based Fano Labs is a company specialising in AI-driven language solutions, focusing on Automatic Speech Recognition, Speaker Diarization, Voice Biometrics, and Natural Language Processing technologies. They cater to enterprise and public sector clients, including major banks and regulators in Hong Kong. Fano Labs stands out with their advanced Interaction Analytics System, Caliniter, which leverages AI for mixed languages and multilingual settings, enabling precise analysis and compliance. Their use of deep learning technology allows for accurate auto-language detection and the ability to distinguish multiple speakers, enhancing customer experiences and compliance efforts. |
Emerging Enterprise Sustainability Awards
| Company | Description |
| Pyxis Maritime Pte Ltd | Singapore-based Pyxis Maritime specialises in maritime electrification, providing a comprehensive ecosystem for electric vessels. Their business model includes electric vessel production, a proprietary digital software layer, and energy solutions for seamless adoption of electric vessels. They operate in Singapore, and are expanding into Japan, South Korea, Taiwan, Hong Kong, and Thailand. Pyxis is unique for its integrated approach to reducing carbon emissions and developing a sustainable maritime industry. |
| RushOwl Singapore Pte Ltd | RushOwl develops the RushTrail app, which provides demand-responsive and self-optimising bus pooling services for corporations and schools. They serve markets in Singapore, Malaysia, and India, with plans to expand to Thailand, South Korea, Hong Kong, and Australia. Their unique approach uses AI to optimise vehicle use and reduce operational costs, providing guaranteed rides. RushOwl offers significant savings on transport and commuting time. |
| PT. Peduli Alam Nusantara (Plana) | Plana is a social enterprise in Indonesia that converts plastic and husk waste into a sustainable material called PlanaWood, which serves as a durable substitute for natural wood in building and furniture products. Based in Indonesia, they target construction, architecture, real estate, and government sectors. Their innovation lies in using 60% rice husk and 30% plastic waste, significantly reducing environmental impact and contributing to climate change mitigation. Plana’s process not only benefits the environment, but also supports local farmers and scavengers by creating economic value from waste materials. |
Most Promising Sustainability Startup Awards
| Company | Description |
| Life Lab Resources Pte Ltd | Singapore-based Life Lab Resources ensures food security by revolutionising food waste management using Green Eco Technologies. They recycle and valorise food waste through three steps: WasteMaster Treatment, Bio-Refinery Plant, and Sustainable Integration, producing high-quality protein and reducing waste. Their notable clients include Marina Bay Sands and Changi Airport. Their uniqueness lies in their ability to recycle mixed food waste streams, significantly reducing waste sent to incinerators and landfills. |
| The Powder Shampoo Pte Ltd | The Powder Shampoo is a planet-first, plastic-free, and plant-powered brand revolutionising personal care with vegan, cruelty-free, powder-to-foam formulas. Based in Singapore, their products are 100% water-free, packaged in lightweight aluminium bottles, and offer 10 times more washes per weight, reducing environmental impact. The company has received orders from over 40 countries and partners with premium retailers like Sephora and Wholefoods. The brand stands out by ensuring products are non-harmful to marine life, and are easily recyclable. |
B. Award Categories and Prizes
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 three winners will each receive:)
- OCBC – a two-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 Singapore – Business Consulting Package worth S$15,000
2. Most Promising Startup Award
Prizes
- OCBC – a two-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.
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.
Prizes (Up to three winners will each receive:)
- OCBC – a two-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 Singapore – Business Consulting Package worth S$15,000
2. Most Promising Sustainability Startup Award
Prizes
- OCBC – a two-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.