Speech by MOS Low Yen Ling at the Spirit of Enterprise Awards (SOE) 2023

Mr Ismail Gafoor, President of Spirit of Enterprise,

Distinguished Guests,

Ladies and Gentlemen,

Introduction

1. Thank you so much to President of Spirit of Enterprise Mr Ismail Gafoor for the very inspiring and passionate speech, as well as Ms Rachel Wong, past-President of SOE. Good evening. I am very very happy to be back at SOE Awards as well as to celebrate the 20^th anniversary of SOE. Congratulations!

2. This evening, we come together as a group of 500 to celebrate the outstanding entrepreneurs who have made your mark in our vibrant enterprise ecosystem. We are also here as a community to celebrate the 20^th anniversary of SOE. On behalf of the Singapore Government, we want to extend our heartiest congratulations to SOE on this very significant milestone. Over the past two decades, SOE has been a driving force behind fostering entrepreneurship, promoting innovation and shaping the business landscape in Singapore. I really like the new tagline, “Nurturing Entrepreneurs, Unleashing Icons”, and this tagline perfectly encapsulates the transformative work that SOE has accomplished these 20 years. I am confident it will carry this mantle forward to greater heights.

The importance of nurturing young entrepreneurs in Singapore

3. Nurturing young Singaporeans to become our next generation of entrepreneurs will introduce new waves of innovation and enterprise vital for a healthy economy. With their energy and fresh perspectives, the youth will be the driving force of tomorrow's solutions. As they bring new ideas, new boundaries and possibilities can be achieved.

4. Initiatives like the SOE’s Student Entrepreneur Programme (SEP) are pivotal in spurring our young people towards entrepreneurship.

a. SEP introduces primary and secondary school students to the fundamentals of entrepreneurship – from starting a business and gaining practical operational and financial management skills to a chance for some hands-on experience and networking opportunities with local entrepreneurs and professionals.

b. I am happy to learn that in the past decade, the SEP has benefitted more than 4,500 students. Really well done! Through such programmes, our students can develop an entrepreneurial mindset early and learn what it takes to start and run a successful business.

5. To the seasoned entrepreneurs in the audience today, I hope you will consider participating in SOE’s SEP initiatives to pass on your entrepreneurship experience to students and build up Singapore’s entrepreneurial landscape. 

Spotting future icons early and supporting them to reach their potential

6. Besides nurturing entrepreneurs, we can also accelerate the development of promising entrepreneurs into successful icons. SOE has been playing an instrumental role in this regard.

  a. Over the years, SOE has identified many future icons in their early stages and created platforms to recognise and celebrate the achievements of these young enterprises and entrepreneurs.

b. A good example is Charles & Keith, which won the inaugural SOE Award in 2003. Its potential was clear before the company expanded beyond Asia and ventured into e-commerce. Through numerous speaking engagements, forum talks and networking events over the years, SOE provided a platform for the company to profile its business and gain greater exposure. SOE also provided them a platform to build brand visibility so that Singaporeans will join them during their early days.

c. This evening, I am excited to celebrate the achievements of the many promising enterprises and potential future icons here. This year, more green enterprises are joining the SOE league. Among them is SGP Foods, a resource efficiency technology startup that develops proprietary technologies to fight climate change. Another enterprise is Ion Mobility, an automotive tech and lifestyle brand company that creates and delivers smart electric motorbikes.

d. Congratulations to Ms Pek Yun Ning, Chairman, CEO and Co-founder of SGP Foods, and Mr James Chan, Founder & CEO of Ion Mobility, who will receive the SOE-Neo Start-up Award tonight.

7. I am heartened to hear that besides providing opportunities for enterprises to showcase their achievements, SOE includes training and mentorship to facilitate their growth. SOE has introduced a new three-part training series titled “Build To Grow” this year. This series has been specially curated for SME business owners and C-suite executives. It equips them with valuable insights on how to grow their companies to potentially become the next Singapore icon and how to be an exceptionable leader.

The role of SOE in enhancing the business landscape of Singapore

8. We are grateful for organisations like SOE, whose mission to promote and advance the entrepreneurial spirit helps keep the passion for enterprise thriving and vibrant in Singapore.

9. SOE’s role in inspiring Singaporeans, especially the younger generation, to embark on their entrepreneurial dreams opens new doors for them to reach untapped opportunities and capture promising new growth.

10. On the Government’s part, please be rest assured that we remain committed to working with partners from the public and private sectors to foster a pro-business ecosystem for the formation and growth of innovative startups and enterprises. We will continue to support our entrepreneurs through initiatives such as our Startup SG grants, equity investment like SEEDS, mentorship programmes and infrastructure.

Conclusion

11. Once again, my heartiest congratulations to all the very deserving award recipients of this year’s SOE Awards and SOE on your 20^th anniversary. Here’s to another 20 years and beyond of promoting entrepreneurship and celebrating Singapore's indomitable spirit of enterprise!

12. Thank you.