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Singapore, 7 August 2020 – Nexia TS is pleased to announce that Team Meraki from Nanyang Technological University (NTU) emerged first in the Nexia TS 3rd Business Case Challenge. The Business Case Challenge successfully concluded on 5 August 2020 with 20 budding student-entrepreneurs from NTU, National University of Singapore and Singapore Management University.
Started in 2018, the Nexia TS Business Case challenge aims to nurture budding entrepreneurs by supporting aspiring students in their entrepreneurship journey through mentorship and peer learning. In line with this, the firm partnered Spirit of Enterprise (SOE), a non-profit organisation that promotes and advances entrepreneurship in Singapore to give the winning team the opportunity to network with home-grown entrepreneurs and take part in the Spirit of Enterprise Forum.
Out of all the business pitches received, Team Meraki topped the competition with the idea of a crowdsourcing platform, Ex-Vantage, which allows SMEs to discuss their challenges while tertiary students share their solutions. Team Bikbox came in second place with its social media advertising platform that enables companies to reach users at a significantly lower cost. In third place, Team Excellent Strategy presented, Paieon, a platform that encourages users to reach their health goals holistically by focusing on mental well-being.
At the competition, guest judge, Sa’at Ismail, Past President of SOE, Founder & CEO of PIXERF, said, “Besides looking at angel investors, budding entrepreneurs may want to look at their personal network to fundraise as they likely to have greater confidence and higher adoption rate in their business ideas.”
Henry Tan, Group CEO and Chief Innovation Officer, Nexia TS, said, “It is essential for new entrepreneurs to have a sound business model so that investors will be keen on investing in the business. They need to ensure that the business is scalable, and the financial projection is realistic to factor in downturns.”
“What distinguishes a good start up would be agility,” as panel judge Lee Tze Shiong, Director, Transformation and Quality & Principal, Assurance, Nexia TS, shared more. “The ability to think on your feet to tap on the opportunities is important even if it’s to provide a different service that you are not focusing on at the moment.”
About Nexia TS:
Founded in 1993, Nexia TS today is recognised as an established accounting and advisory firm. Headquartered in Singapore, the firm has strong presence in various countries across the region. Nexia TS Shanghai is a one-stop centre providing advisory services for foreign-invested enterprises in China. NTS Malaysia and NTS Myanmar provide a full suite of corporate advisory services for clientele with operations and new foreign investments in the respective countries. Being an independent member firm of Nexia International also means that we have more than 32,000 staff serving clients at 727 offices in 122 countries. It is ranked as the top 10 largest international accounting and consulting network. For more information, please visit www.nexiats.com.sg.
About Spirit of Enterprise:
The Spirit of Enterprise promotes and advances entrepreneurial spirit in Singapore by honouring local self-reliant entrepreneurs operating small and medium-sized businesses. They also serve to inspire Singaporeans, especially the young, to become entrepreneurs by facilitating interaction, communication and knowledge dissemination between students, the entrepreneurs and the general public.
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