FedEx contest for APAC small businesses to give away US$120k in grants
FedEx Express is once again holding its FedEx Small Business Grants Contest. The contest is designed to provide SMEs with the inspiration and financial resources to take their business global, helping them to grow their footprint and sharpen their competitive edge.
The contest is giving SMEs from Hong Kong, Singapore – and this year, for the first time, China – the opportunity to win an approximate total of US$120,000 in grants.
Originally conceived in the US five years ago, the FedEx Small Business Grant contest went global for the first time last year, with contests in Brazil, France, Germany, Hong Kong, Singapore and the UK in addition to the US. This year, as well as China, the contest makes its debut in India and Italy as well.
“At FedEx, we believe the spirit of entrepreneurialism is what drives SMEs to take their business to the next level,” said Karen Reddington, president, FedEx Express Asia Pacific. “In this digital economy, the huge array of digital tools and channels available today makes it easier for SMEs to extend their reach internationally, to find new customers and grow their businesses. I encourage all SMEs that have the passion and ideas to take their business global to take part. I'm delighted that we've expanded the contest into three new international markets this year, including the keystone economy of China.”
Among the FY16 winners was Singapore-based company RedWhite Apparel, whose founder, a keen cyclist, set out to produce high-performance but affordable long-distance cycling bib shorts.
As well as Singapore, the company already had a presence in Malaysia, Thailand, Indonesia and Taiwan. Winning the contest enabled it to explore opportunities to expand further afield to Australia, Europe and the USA.
How to Enter
The contest is open to all Singaporean SMEs that have been operating for six months or more. Between March 16 and April 27, contestants can submit their business stories online at the contest website for the judges' consideration. In May, the shortlisted entries will be announced and invited to present a live pitch of their business ideas at a pitching event.
Contest winners will be announced in May. Three tiers of grants will be awarded in each of the markets: a Grand Prize, a Second Prize and a Third Prize.