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Singapore showing off enterprise skills with competitions and awards

Mark Marich (GEW global)


Nov 09, 2009

The small nation of Singapore is one of the world's leading commercial hubs, and the 274-square mile microstate will show that it packs a heavy entrepreneurial punch during Global Entrepreneurship Week from Nov. 16 to 22. Historically, Singapore was a major trading outpost for both the Sumatran and British Empires -- today it is one of the world's business ports, and it boasts the fourth-largest foreign trading center in the world behind only New York, London and Tokyo.

Singapore will show off its entrepreneurial expertise with Global Entrepreneurship Week 2009's 42 featured events, ranging from exciting competitions and awards galas to intriguing forums and workshops. Click here to browse the complete schedule.

Singapore Polytechnic has organized "The Enterprise Challenge" from Nov. 18 to 20. The three day event allows students to set up booths to compete for the most profit. In addition, on the last day of the event, Singapore’s very own young start-up owners will share their experience on how they overcame the odds and seized the opportunity to run their own enterprises. The challenge is open to all Singapore students who want to showcase their innovative products at a high-profile event.

On Nov. 19, Junior Achievement in Singapore will hold its own competition called "Titans of Industry." Teams of three students will run a virtual company and compete in a computer‐simulated business environment. This could mean running the business into the ground or to high efficiency based on the quarterly business decisions made about the product’s price, production level, marketing, R&D, and more. Sink or swim, they will walk away understanding critical business practices and the effect that management decisions have on a company’s success.

Aspiring entrepreneurs can test their mettle at investing on Nov. 19 when Singapore Management University hosts the "Dividends" competition. Students 10 and older can take part in the interactive board game about stocks, shares, dividends and profits. They will learn how stocks and dividends work; use the laws of supply and demand to their advantage; and master risk and value assessment as they buy and sell their way to the top of the stock market. The top performers will take home fantastic prizes! Additionally, the Outram Secondary School will host the "Praxis Financial Board Game Competition," which is open to all participants from primary and secondary schools. The Nov. 21 competition will allow students to ride the waves of the tumultuous financial and stock markets as they navigate their way through various career and investment decisions.

The week in Singapore will be highlighted by two major award ceremonies.The Spirit of Enterprise Awards will be handed out during a gala dinner on Nov. 17 at the Intercontinental Hotel. The following evening on Nov. 18, the Ritz-Carlton Millenia Singapore will be home to the Ernst & Young Entrepreneur of the Year Award. Regarding as the world’s most prestigious business award for entrepreneurs, 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 award of its kind, Ernst & Young Entrepreneur of the Year celebrates those who are building and leading successful, growing and dynamic businesses, and recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.

Eric Smith works for the Global Entrepreneurship Week planning team and is based in Washington, D.C.

tags: dividends, enterprise challenge, ernst & young entrepreneur of the year, global entrepreneurship week, junior achievement, outram secondary school, praxis financial board game competition, Singapore, singapore management university, singapore polytechnic, spirit of enterprise awards, titans of industry