FedEx awards four rising start-ups in 2024 Small Business Grant Contest in Asia Pacific

FedEx Express (FedEx) has announced the Winner of its 2024 Small Business Grant Contest (SBGC) in Asia Pacific.

Three other companies were recognised with Special Mentions. The four companies from Indonesia, Malaysia, Philippines & Singapore will share a prize pool of US$69,000, each receiving a grant to accelerate their business in the region and beyond.

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This is the third year that FedEx is collaborating with Forbes Asia to identify rising start-ups from the Forbes Asia 100 to Watch list. A panel of judges from FedEx and Forbes Asia selected the finalists from among the region’s most outstanding start-ups and small businesses across a broad spectrum of industries. Four companies stood out with their remarkable vision and scalable business ideas.

The Winner received a grand prize worth US $30,000: Singapore: Tan Min-Han, Founder and CEO, Lucence (Biotechnology & Healthcare) – Lucence is a precision oncology start-up developing non-invasive tests that aim to accurately diagnose cancer.

The following three small businesses were accorded Special Mentions and awarded a cash prize of US $13,000 each:

• Malaysia: Kamarul A Muhamed, Founder and Group CEO, Aerodyne (Enterprise Technology) – Aerodyne is a drone-based enterprise solutions provider. The company’s autonomous drones can spray crops, inspect power lines, or monitor city streets.

• Indonesia: Larry Ridwan, Founder and CEO, Fresh Factory (Logistics & Transportation) – Fresh Factory is an integrated cold chain fulfilment company specializing in storing and delivering chilled, frozen, and dry goods

• Philippines: Brian Cu, Cofounder and CEO, SariSuki (Agriculture) – SariSuki is a social e-commerce start-up that sells groceries through its website and app, aiming to transform the Philippines’ retail landscape.

“Supporting small businesses ultimately opens new possibilities for the economic development of communities all around the world. That’s why we are so passionate about nurturing entrepreneurship and empowering small businesses in the region,” said Kawal Preet, president of Asia Pacific, Middle East & Africa, FedEx Express. “This year’s applicants exemplify the spirit of innovation that is shaping the future of business. It’s so exciting to see how these agile innovators are developing solutions that directly impact local communities as well as addressing wider global needs.”

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First launched in the U.S. in 2012, the FedEx SBGC now covers 31 international markets across Asia Pacific, Europe, and Latin America.