EY opens nominations for its 15th EY Entrepreneur Of The Year 2016TM awards in Singapore

Theme spotlights importance of innovation and excellence to building future-ready businesses and economy

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SINGAPORE, 18 FEBRUARY 2016 – From now till 31 May 2016, members of the public can nominate outstanding entrepreneurs for the 15th annual EY Entrepreneur Of The Year (EOY) awards in Singapore. Nominees must demonstrate strong entrepreneurial spirit, innovation, sound strategic direction and financial track record, and have built successful businesses that have global and/or community impact.

EY opens nominations for its 15th EY Entrepreneur Of The Year 2016™ awards in Singapore

The nominees will be assessed by an independent judging panel (see factsheet A) across the six globally benchmarked criteria (see factsheet B). Entrepreneurs who excel across the six criteria will be honored as winners of award titles that are designed to reflect their unique quality or achievements. The EY Entrepreneur Of The Year 2016 Singapore will be presented to the individual who ranks the highest across all six criteria.

Please refer to fact sheet A: Judging panel

Fact sheet A: Judging panel

Wong Ngit Liong
Chairman and Chief Executive Officer
Venture Corporation Limited
EY Entrepreneur Of The Year 2002

Dr. Robert Yap
Executive Chairman
YCH Group Pte Ltd
EY Entrepreneur Of The Year 2007

Loi Pok Yen
Chief Executive Officer
CWT Limited
EY Entrepreneur Of The Year 2013 – Logistics

Omar K. Lodhi
Partner and Regional Head – Asia
Abraaj Capital Asia Pte Ltd

Prof. Wong Poh Kam
Professor, NUS Business School and
Director, NUS Entrepreneurship Centre

Ho Meng Kit
Chief Executive Officer
Singapore Business Federation

Kee Ai Nah
Group Director, Industry Development Group
SPRING Singapore

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Please refer to fact sheet B: Judging criteria

Fact sheet B: Judging criteria

The following six judging criteria sets the global standard adhered to by each and every country participating in the EY Entrepreneur Of The Year awards.

  • Entrepreneurial spirit
    The individual is a risk-taker who sets very high standards and demonstrates an unflinching desire and determination to succeed despite significant obstacles.
  • Financial performance
    The business has demonstrated strong financial performance and maintains a good track record in raising finance. Coupled with quality investments, the business has the potential for long-term sustainability.
  • Strategic direction
    The individual not only creates and turns business visions into realities, but also builds strategic alliances and empowers talents to achieve common goals.
  • Global (or community) impact
    The business has expanded or plans to expand into international markets and has made global impact in terms of job creation and improved living economics.
  • Innovation
    The individual has pioneered a new approach or technology, embraces changes and continuously innovates.
  • Personal integrity/influence
    The individual earns great respect and is able to communicate ideas and influence the wider community. The individual’s enforcement of socially responsible practices seeks to improve the quality of life.

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EY opens nominations for its 15th EY Entrepreneur Of The Year 2016™ awards in Singapore

This year, the awards is themed “Empowering innovation, delivering excellence”. Speaking at a cocktail reception last evening to mark the launch of the EOY nominations with about 70 guests in attendance, Mr. Max Loh, Asean and Singapore Managing Partner at EY explained: “It is timely that we underscore the importance of innovation in creating value and achieving transformational growth in today’s highly competitive global marketplace for both businesses and the Singapore economy.

“The modern economy is about creativity, ambition and the smart use of technology. A future-ready economy must be an innovation-driven one. Earlier this year, the Singapore government formed the Committee on the Future Economy, where developing corporate capabilities and innovation is one of the five core pillars. It has also committed S$19 billion to the new Research, Innovation and Enterprise 2020 plan. Initiatives like these seek to encourage companies to develop leading edge capabilities, embrace disruptive technologies and explore new business models, R&D and partnerships to drive value creation.”

Dr. Michael Tan to represent Singapore at EY World Entrepreneur Of the Year™

At the reception last night, EY and guests also sent their well-wishes to Dr. Michael Tan of Fullerton Healthcare Group Pte Ltd, as he represents Singapore at the EY World Entrepreneur Of The Year (WEOY) 2016 in Monte Carlo, Monaco in June.

Dr. Tan will be contending with more than 60 other country winners, including Brazil’s Mr. Roberto Medina of Rock in Rio; Hong Kong’s Mr. Jeffrey Kang of Cogobuy Group; Japan’s Mr. Tsutsui Nobumasa of Tokai Medical Products, Inc.; Malaysia’s Mr. Tan Say Jim of IRIS Corporation Berhad; Taiwan’s Ms. Judy Lee of Test Rite Group; UK’s Mr. Richard Steeves of Synergy Health Plc; and US’ Mr. Andreas Bechtolsheim and Ms. Jayshree Ullal of Arista Networks.

This year, the WEOY will feature an exciting line-up of speakers, including Mr. Dan Schulman, President and CEO of PayPal and the Chairman of Symantec Corporation; Mr. Mohed Altrad, President of Altrad Group and EY World Entrepreneur Of The Year 2015; Mr. Andy Kuper, Founder and CEO of LeapFrog Investments; Mr. Paul Polman, CEO of Unilever; Mr. Nick Danziger, Monaco-based prize-winning photographer; and Ms. Margaret Gilmore, former BBC senior correspondent.

EY-Barclays Family Business Award of Excellence

EY is once again partnering Business Families Institute @ Singapore Management University (BFI @ SMU) and the Family Business Network Asia (FBNA) to select the winner for the EY-Barclays Family Business Award of Excellence. This is an honorary award presented for the fourth year on board the EOY platform (award recipient does not compete for the EY EOY Singapore 2016 title).

The award recipient will be selected based on the family business’ ability to successfully balance business and family issues, grow the business and show responsibility for others through philanthropic or social engagements (see factsheet C for eligibility and judging criteria).

Please refer to fact sheet C: EY-Barclays Family Business Award of Excellence

Fact sheet C: EY-Barclays Family Business Award of Excellence

This winner will be selected by independent knowledge partners Business Families Institute @ Singapore Management University and the Family Business Network Asia based on the judging criteria below.

Eligibility:

  • Leadership of the company includes family member(s) from second or subsequent generations, or has multiple branches of a family involved in leadership. (i.e., one individual and first generation would not qualify for the award).
  • The family still has a significant ownership and voting stake and is primarily responsible for setting the strategic direction and values for the firm.
  • The legal form of the company or group of companies is not relevant.
  • Companies may be private or publicly traded.
  • If the shares and voting rights have been transferred to a trust, it will remain to be considered as family business if the family has dominant influence on the trust in a way described above.
  • The business or headquarter of the business is located in Singapore.

Judging criteria:

  • Company shows evidence of a successful, sustainable and long term-oriented strategy.
  • Company has adopted an effective and transparent corporate governance approach, enabling the execution of the desired strategy and living out of family values.
  • Company governance enables unity among the ownership family (i.e., little evidence of significant family disputes impacting the business).
  • Demonstrated the ability of the family to preserve company culture, tradition and values and maintain the entrepreneurial spirit and continued innovation over generations.
  • Evidence shown of exceptional personnel management.
  • Commitment to philanthropic causes or corporate social responsibility.
  • Other exceptional achievements such as business awards, public service or philanthropic awards, etc.

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Barclays returns as a major sponsor of the EY EOY awards program for the eighth consecutive year, as well as the co-presenter of the EY-Barclays Family Business Award of Excellence for the fourth year.

Mr. Vikram Malhotra, Head of Sales, Singapore, Barclays Wealth & Investment Management says: “Entrepreneurs are increasingly vital to the growth and dynamism of global economies, helping to spur innovation and fresh ideas. At Barclays, many of our clients run family businesses and we understand how important it is to keep the flame of entrepreneurism burning. Through our association with the Awards, we aim to recognize and celebrate the thriving entrepreneurial culture in Singapore.”

Additionally, EY will be conferring the EY Asean Entrepreneurial Excellence Award for the second year on board the EOY platform (award recipient does not compete for the EY EOY Singapore 2016 title). The honorary award recognizes successful Southeast Asian businesses that contribute to the economy and community in the region.

Other sponsors and supporters of the EOY awards include The Edge Singapore (official business publication); The Peak (official luxury lifestyle magazine); Action Community for Entrepreneurship; International Enterprise Singapore; Singapore Business Federation; and SPRING Singapore. For more information on the EOY awards, visit www.ey.com/sg/eoy.

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Notes to Editors

About EY

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organisation, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organisation, please visit ey.com.

This news release has been issued by Ernst & Young Solutions LLP, a member of the global EY organisation.

About EY Entrepreneur Of The Year™

EY Entrepreneur Of The Year™ is the world’s most prestigious business awards program for entrepreneurs. The program makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global awards program of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in more than 60 countries. ey.com/eoy

About Barclays

Barclays is an international financial services provider engaged in personal, corporate and investment banking, credit cards and wealth management with an extensive presence in Europe, the Americas, Africa and Asia. Barclays' purpose is to help people achieve their ambitions - in the right way. With 325 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 130,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.