Nine emerging companies across Asia honoured at Emerging Enterprise 2026 Awards

Nine up-and-coming companies from Singapore, Hong Kong, Malaysia and Indonesia have been recognised at this year’s Emerging Enterprise (EE) Awards 2026, celebrating the entrepreneurial spirit, innovation and resilience of entrepreneurs across the region.

Jointly organised by The Business Times and OCBC, the awards received close to 600 applications this year, with submissions from Hong Kong, Indonesia and Malaysia accounting for almost 40 per cent. Of the applicants, 28 companies were selected as finalists of the 19th edition of the annual awards.

The EE awards, which aim to provide more visibility to young companies to spur their expansion into new markets, are open to businesses with up to 10 years of operations and annual turnover of up to $20 million. The results were announced in a ceremony on October 26.

Singapore-based WOOSA Sleep is a local recipient of the Emerging Enterprise Award, which lauds promising companies with a mindset to drive consistent and significant business growth and the ability to scale overseas. 

The home-grown business specialises in premium mattresses, smart storage bed frames and adjustable bases, combining European craftsmanship with climate-adaptive design for Singapore’s tropical conditions. 

Another recipient is Hong Kong-based MediConCen, which develops artificial intelligence-powered solutions to automate insurance claims, including claims decision-making, fraud detection and workflow management. Both companies will receive a two-year, interest-free term loan of up to $200,000, media coverage in The Business Times and a business consulting package from RSM Singapore worth $15,000.

The Most Promising Startup Award went to Hong Kong-based Alpha AI Technology and Malaysia-based Hyperscale DCS. Alpha AI provides AI-powered inspection and asset-monitoring services for property managers, developers, utilities and operators of major structures, with a growing presence in South Korea and the Greater Bay Area. Hyperscale DCS specialises in data centre infrastructure, including power, cooling and modular prefabricated systems for mission-critical facilities. 

Celebrating sustainability

Four companies were recognised for their sustainability and green economy initiatives with the Emerging Enterprise Sustainability Award. One of them is Singapore’s Matwerkz Technologies, which develops thermal management solutions, fire protection and functional materials technology.

Another home-grown company XEL Lifecare, which operates under the brand AIRE, was conferred the Most Promising Sustainability Startup Award for its adult incontinence care products, co-created with Singaporean seniors and designed with features suited to the tropical climate and Asian body types.

The EE awards were presented by Low Yen Ling, Senior Minister of State for the Ministry of Culture, Community and Youth and the Ministry of Energy, Trade and Industry, at a ceremony in JW Marriott Hotel Singapore South Beach. 

Christie Chu, OCBC’s Head of Emerging Business International, Global Commercial Banking, says: “Young businesses today need more than access to capital to succeed. They also require visibility, trusted networks, market access and the right ecosystem of support around them – all of which the EE Awards provide. We hope that the recognition empowers them to scale with confidence, build credibility and expand connections, so that they can unlock opportunities to accelerate their growth journeys.”

Chen Huifen, Editor of The Business Times, commended the high quality of this year’s finalists. She says: “What emerged is a group distinguished by clear purpose, strong fundamentals, and the ability to innovate in response to changing markets. Their achievements reflect the depth and dynamism of the next generation of business leaders emerging from Singapore and the region.”