54 Students from Nine Asian Markets Showcase Their Innovativeness and Insights on International Business
HONG KONG, September 3, 2012— A pair of teenagers from Singapore claimed the top prize in the FedEx Express/Junior Achievement International Trade Challenge (ITC) regional finals, a three-day competition designed to educate and build entrepreneurship and business skills in young people from Asia-Pacific.
The students, Brennan Foo and Joel Sherard of Anglo-Chinese School (Independent), beat 26 other teams from Hong Kong, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and Vietnam with an innovative business proposal in response to this year’s challenge — develop a market entry strategy for promoting a product or service that addresses major environmental issues in India.
This year, 54 students between 15-19 years of age from nine markets across Asia Pacific were selected to represent their markets at the regional finals in Hong Kong after competing at the local challenge in their respective home markets.
The team from Singapore developed a comprehensive business plan to launch three eco-tourism resorts that provide a series of environmental conservation activities in India for tourists and companies.
The second place went to the team from Hong Kong represented by Anthony Jim and Issac Lam of La Salle College. They proposed launching a paper recycling business that turns waste paper into wood products, such as cricket bats, pencils and furniture.
Third-prize winners Alice McFall of Aquinas College and Joel MacManus of Garin College from New Zealand created a business that distributes free portable toilets to low-income families, and pays them for their human waste which will be re-sold to a factory that manufactures eco-bricks.
The panel of judges comprising successful entrepreneurs and business leaders evaluated the teams on their business acumen, concept and presentation. The students were measured on their thoroughness, creativity and professionalism in developing and executing their business entry strategy.
FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, and JA Worldwide®, the world’s largest nonprofit organization dedicated to inspiring and preparing young people to succeed in a global economy, joined forces to organize the event.
For more information, please visit www.facebook.com/ AsiaPacific ITC.
About FedEx Express
FedEx Express is the world’s largest express transportation company, providing fast and reliable delivery to more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, by a definite time and date with a money-back guarantee.
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $39 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 290,000 team members to remain “absolutely and positively” focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit news.fedex.com.
About JA Worldwide® (Junior Achievement)
Junior Achievement is the world’s largest organization dedicated to inspiring and preparing young people to succeed in a global economy. Through a dedicated volunteer network, Junior Achievement provides in-school and after-school programs for students which focus on three key content areas: work readiness, entrepreneurship, and financial literacy. Today, 127 individual area operations reach more than four million students in the United States, with an additional 5.8 million students served by operations in 123 other countries worldwide. For more information, visit www.ja.org.
The panel of judges in the grand final of the competition includes:
Dr. Edmund Lee, Executive Director, Hong Kong Design Centre
Prof Hugh Thomas, Director, Center for Entrepreneurship, The Chinese University of Hong Kong
Mr. K.T. Poon, Director (Corporate Communications), The Link Management Limited
Ms. Viveca Chan, Chairman & CEO, WE Marketing Group
Mr. Joe Ngai, Managing Partner, Hong Kong, McKinsey & Company Inc.
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SOURCE: Submitted by Bite Communications