Entrepreneurship competition held in Singapore: Forging a brighter future

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An Entrepreneurship competition was held in Singapore which challenged students to generate environment friendly and sustainable business ideas. Paper that transforms into soap when water touches the paper was among winning ideas at entrepreneurship competition. Team Oreo Crush with Pearls from Ngee Ann Polytechnic and Republic Polytechnic invented the paper sheet soaps in packaging which is ecological and non polluting. Mapletree Business City in Pasir Panjang on January 7, 2021 held the third edition of the River Hongbao Hackathon and the competition was a part of it. The theme for the competition was ‘forging a brighter future’.  
There were many winning teams which were from National University of Singapore, Singapore Polytechnic, Singapore University of Technology and Design and Eunoia Junior College. Prize money for each team won $2,000 and $5,000 as startup funds to develop and sell their product or service. It was supported by the Singapore Chinese Chamber of Commerce and Industry and sponsored by Mapletree Investments. The competition received 45 submissions. The students that comprised the participating teams were aged between 18 and 29 years. 10 finalists presented their business ideas on January 7, 2021. 
Other victorious creations were biodegradable flower pots produced by a 3D printer and a budget-friendly science, technology, engineering and mathematics education kit. The organisers are still concluding arrangements for the teams to sell their products or services while following Covid-19 safe management measures.
In the last two competitions, a chance was given to the public to buy the young entrepreneurs’ merchandise at the annual River Hongbao. It is the largest Chinese New Year event in Singapore. Chairman of the River Hongbao 2021 organising committee, Mr Tan Aik Hock was very impressed by the efforts put in by the young generation. Such competitions should be held in all the countries so that youngsters can brainstorm ideas that can have a possibility of a brighter and a better future. 

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