How leading entrepreneurs are making a holistic impact through business excellence

Four outstanding local entrepreneurs have been named winners of the EY Entrepreneur Of The Year (EOY) 2024 Singapore awards in their pursuit of growth and innovation and uplifting the quality of lives in communities. Additionally, one of the winners will also go on to represent Singapore at the annual EY World Entrepreneur Of The Year (WEOY) award to be held in Monaco in 2025.

As one of the leading professional services organisations in the world since 1989, EY aims to build a better working world by creating long-term value for clients, people, and society, as well as building trust in the capital markets.

The EY's EOY Awards aim to set the benchmark for celebrating and recognising entrepreneurs who continuously repaint and reframe our economy from innovative new angles through their passionate work and commitment.

This is part of their larger goal to encourage entrepreneurial activity among those with potential and recognise the contribution of entrepreneurs who inspire others with their vision, leadership and achievement.

Unconventional Entrepreneurs Awarded For Excellence

By conferring the EOY Award to various well-performing individuals, the award honours entrepreneurs who have created and sustained successful business ventures, coinciding with the government's focus on fostering and grooming local entrepreneurs.

This year, the four winners emerged from over 80 nominations. They are selected by an independent judging panel based on their merits in fulfilling the four globally benchmarked criteria, namely entrepreneurial spirit, growth, purpose and impact.

One award recipient was Anthony Chow, co-founder and CEO of igloocompany, who was awarded EY Entrepreneur Of The Year – Technology Solutions for its leading smart access technology, specialising in smart locks, IoT devices, as well as a comprehensive enterprise software ecosystem with its mission of creating "A World Without Keys", through their partnership with companies like Airbnb in serving the short-term rental market.

In addition, two companies were awarded the EY-Bank of Singapore Family Enterprise Award of Excellence, and another received the EY-Bank of Singapore Asean Entrepreneurial Excellence Award, recognising the sustained commitment towards Asean entrepreneurial excellence and family enterprise excellence in Singapore and beyond.

One of the recipients that was awarded the EY-Bank of Singapore Family Enterprise Award of Excellence is The Tecity Group, which honours the legacy of its founding generation through its investment, public-listed and philanthropic arms with its ability to successfully balance business and family interests while growing the business portfolio sustainably as well as showing responsibility for others.

Another company that received the EY-Bank of Singapore Asean Entrepreneurial Excellence Award is JG Summit Holdings, Inc., which is one of the largest conglomerates in the Philippines, specialising in areas such as food and retail, aviation, real estate, energy, financial services and telecommunications.

In addition to its dynamic portfolio in the Philippines and Southeast Asia, the company's impact can be seen in its contributions towards national progress by advancing quality education for the future workforce while transforming the lives of Filipinos.

Entrepreneurship on the Rise

Entrepreneurship has been part of a growing trend this year, with many more entrepreneurs making their mark in rising industries in Singapore through government support and partnerships.

For instance, Alteredverse, a local game development studio, has partnered with the Institute of Technical Education (ITE) to equip its engineering students with industry training programs to future-proof their professional capabilities and boost the development of Singapore's emerging tech sector.

Growth of the local entrepreneurial scene is also encouraged by Singapore-based startup Wonder Technology, which has partnered with Fischer Medical Ventures, a company based in India that primarily manufactures chemicals and MRI systems, in revolutionising mental health through the use of Voice Artificial Intelligence (AI) to identify depression through a person's voice.

"Like artists, the winners have created a bold vision and pursued their goals unwaveringly, leaving a mark of difference on the communities they serve," said Mr Liew Nam Soon, EY ASEAN Regional Managing Partner and Singapore and Brunei Managing Partner.

Liew shared that entrepreneurship is an artful balance of passion, innovation, courage and grit through the pursuit of growth and innovation regardless of how long they have been in the business and seeking opportunities in places no others have been. He also believes that the winners will serve as an inspiration in fostering a robust entrepreneurial spirit in Singapore.