ED 52 (Nov-Dec 2013)

SPECIAL
SPECIAL
Establishing
Entrepreneurial
Excellence
The silver jubilee
of the annual
Entrepreneur of
the Year Award
continues to
identify and honour
deserving business
owners
2013 marks the 25th anniversary of the
Entrepreneur of the Year Award (EYA),
the longest-established business
accolade for entrepreneurship in
Singapore. Jointly organised by the
Association of Small and Medium
Enterprises (ASME) and the Rotary
Club of Singapore, the Award has
recognised dozens of deserving
entrepreneurs who have excellent
and sustainable business practices.
Etymology of Excellence
“EYA rst started in 1989 by the Rotary
Club of Singapore to recognise small-
scale entrepreneurs and to garner
some form of publicity for the winners
to grow their businesses. With ASME
coming onboard in 1992 as coorganisers,
EYA has grown over the
years and I’m proud to say that it is
a highly respected accolade for our
homegrown entrepreneurs today,”
said Mr Stanley Low, Award Co-
Chairman, Rotary Club of Singapore,
during the Ofcial Launch of EYA
2013 on 31 May 2013.
In line with the changing times,
EYA 2013 was opened to younger
entrepreneurs and enterprises with
the establishment of a new award
category for the rst time – the
Young Entrepreneur. Apart from the
traditional Award category, which
is highly recognised for identifying
established and successful
entrepreneurs annually, the new
Young Entrepreneur category
has been conceptualised to suit
the business nature of emerging
entrepreneurs and enterprises.
“To allow more enterprises to be
part of our award journey, we have
opened EYA 2013 to companies
with at least two years of audited
nancial statements in our new
Young Entrepreneur category. To
ensure a level playing eld for this
group of young entrepreneurs, a
cap of S$20 million turnover will be
imposed for this category. Those
with a higher turnover and have more
years of establishment will naturally
fall in the Established Entrepreneur
category,” said Mr Kurt Wee, Award
Co-Chairman, Association of Small
and Medium Enterprises (ASME).
As Singapore enters into an intensied
phase of economic restructuring,
it is even more challenging for
entrepreneurs to take their companies
to greater heights. The judging criteria
for EYA 2013 includes evaluating
the entrepreneur’s relevance and
resilience amidst existing challenges,
and this includes assessing their
resourcefulness, human capital and
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ENTREPRENEURS’ DIGEST
NOV DEC 2013