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Singapore, 27 August 2021 – Nexia TS congratulates the winners and finalists of the 4th Nexia TS Business Case Challenge which took place on 18 August 2021. The challenge aims to nurture local entrepreneurship by supporting aspiring students in their entrepreneurial journey through mentorship and peer learning.
This year, the students were challenged to incorporate sustainability components in part of their product/service development as the world is faced with climate change at an unprecedented rate. The top five teams who made to the finals were evaluated mainly on financial risks and sensitivities among many others.
The winning team, Slink, clinched the top prize with its data intelligence platform that gathers and tracks ESG-focused data which is powered by a unique combination of human analysis and artificial intelligence technology. In second place, team Sustainable New Living, goes big on converting Singapore’s food waste into compost while team Mobius, in third place, incentivises consumers to make sustainable lifestyle changes while purchasing consumer packaged goods.
Finalist teams namely, Divergent Thinkers, presented a revolutionary solution of high-tech solar-powered UV-C light sanitizer, and team Mugger with its practical mug-sharing initiative that strives to make ‘Bring Your Own’ a totally seamless and hassle-free process.
At the competition, guest judge, Harish Nim, Co-Founder at SamataSoul, and former Vice President of the Spirit of Enterprise advised students, “Not to give up. Go through many rounds of iterations because most entrepreneurship plans and ideas get better with more experience and exposure gained.”
Henry Tan, Group CEO and Chief Innovation Officer at Nexia TS, said, “Green investing is huge and positioned for growth as the Singapore government is determined to encourage businesses to incorporate these sustainability practices into their operations.”
Alvin Wee, Director of Risk Advisory at Nexia TS, added on, “Companies in Singapore who are planning to incorporate ESG practices and sustainability reporting into their annual reports need to consider different material factors. He further explained that “Depending on the type of sustainability framework that the company is planning to adopt, these material factors differ from one sector to another which can have an impact on financial performance.”
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 35,400 staff serving clients at 752 offices in 128 countries. It is ranked as the 8th largest international accounting and consulting network. For more information, please visit www.nexiats.com.sg.
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