Express transportation company Federal Express Corp., together with Junior Achievement (JA), announced the winners of the 2024 FedEx/JA International Trade Challenge Asia Pacific finals held at a live event in Singapore.
This year’s competition attracted over 4,500 students from 10 markets including Hong Kong SAR, India, Indonesia, Japan, Malaysia, the Philippines, Singapore, South Korea, Thailand, and Vietnam.
60 students gathered in Singapore for the Asia-Pacific finals and were tasked to create a market entry strategy for a product that contributes to a circulatory economy, with Turkey being the target market. With growing discourse among consumers on how products affect the environment and the role corporations should play in shaping a sustainable future, the challenge was particularly relevant. Students were paired into teams of two from different markets to foster cross-cultural understanding. The student teams then pitched their idea to a panel of judges made up of Singapore’s leading entrepreneurs and small business owners.
The first-place winners were Team CJ, consisting of Cheryl Lim Xin Yi from Singapore and Julia Jasmine Binti Jufri from Malaysia. They impressed the judges with their innovative idea of creating biofilm from seaweed.
The two runner-up teams were Team Circuvate and Team ONE. Team Circuvate, which included Wesley Ng Yu De from Singapore, developed bioplastic plates funded entirely through advertisements for football stadiums. Team ONE, composed of Rysa D. Sumalinog from the Philippines and Clarisse Chee Qian Ying from Singapore, proposed turning food waste into traditional Turkish carpets.
“We are thrilled to be selected as the winners of the competition. It’s a great honor and privilege to contend with top talent in the region. Taking part in the competition has truly been an eye-opening experience. It helped us understand that any great venture needs bold thinking, thorough planning and great collaboration with peers and industry experts. Winning this competition gives us the confidence to continue exploring what’s possible on our path to becoming future entrepreneurs,” said Misses Yi and Jufri of the winning team.
Judges of the competition, comprised of entrepreneurs and business leaders, were impressed by the organization of the competition and the efforts made by the students.
“The experience has been eye-opening — to see the young minds showcasing their problem-solving skills and presenting their solutions so eloquently. It has been quite thought-provoking and immensely enjoyable,” Alex Fan, co-founder of Sunday Bedding Pte. Ltd., said.
“I was incredibly blown away by the presentations and the thoughtfulness behind each proposal, especially with the knowledge that they were all done in only 2 days. It was also great to see learning and exchange of knowledge between the participants,” said Kloe Ng Co, founder of Out of the Box Education, Inc.
“I am impressed by the students’ presence and poise; especially given the short time they had to complete their analysis and prepare their presentations. They radiate confidence and thoughtfulness. Rather than judging, I see this experience as a co-creation, and through our interactions, I have no doubt they will bring something incredible to the world,” Ryion Pun, co-founder of Guishi Pte. Ltd., said.
“The fact that each participant was paired with someone they didn’t know made this even more impressive. This competition is a boiler room of entrepreneurial experiences and insights. JA Asia Pacific and FedEx did a masterful job facilitating this competition and giving our youth the experience of competing at a regional level,” said Reza Behnam, founder of Digital Direction.
The FedEx/JA International Trade Challenge program is jointly organized by FedEx and JA Asia Pacific, a member of JA Worldwide. In the last 18 years, nearly 50,000 students across Asia-Pacific have been introduced to the world of business, economics and international trade through this program which incorporates classroom learning and practical teamwork exercises.
Kawal Preet, president for Asia-Pacific at FedEx, reiterated the company’s belief that the power of innovation and connectivity can change the world, as epitomized by the International Trade Challenge.
“These brilliant young minds are not just learning about international trade; they are addressing real-world problems with creativity and insight. As these young leaders break down barriers and build bridges across borders, they are exemplifying the FedEx ethos of connecting people and possibilities,” she said.
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