SPIRIT OF ENTERPRISE AWARD 2012
ABOUT THE AWARD
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The Spirit of Enterprise Award is an annual national award conferred to deserving business entrepreneurs to honour their outstanding achievements. It aims to recognize our local entrepreneurs' courage, perseverance and innovation in their journey of entrepreneurship. These local entrepreneurs serve to become role models for our young Singaporeans to emulate and to inspire the youths to take the bold step in becoming enterprising entrepreneurs. Since its inception in Year 2003, the Award has gained prestige and recognition at the national level and within the local business community. AWARD OVERVIEW & PROCESS |
| Submission of Nomination | |
| Preliminary Screening | All nominations received will be screened by SOE based on the prescribed qualifying and judging criteria to ascertain eligibility. |
| Site Visit and Interview | SOE's appointed Student Interviewer will contact shortlisted nominees to arrange for site visits and interviews. All interviews will be carried out at the nominees' place of business. |
| Preparation of Interview Reports | The Student Interviewers will prepare the interview reports, audio recordings and photographs for submission to SOE. Our SOE Student Interviewer will present the reports and materials to nominees for vetting and clearance prior to officially submitting them to SOE for the awards judging. |
| Judging & Selection | The SOE Board of Governors will review all submitted interview reports and supporting documents; perform evaluation using the judging criteria and select the award honorees. |
| Award Presentation Ceremony | All Award Honorees will be announced at the Presentation Ceremony and be presented with commendation plagues by the Guest-of-Honour. |
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QUALIFYING CRITERIA
To be considered for nomination for Award, the nominee and Company must meet the following:- Company must be registered in Singapore and must be in operations for the last 3 years and still in business operations.
- Company must have at least 30% local equity and the nominated entrepreneur must own at least 30% of the shares. Government investment programme should not be a principal shareholder of the company.
- Company is in good standing with whoever licenses the business and is not under any court, tax or police filing.
- Entrepreneur must be a Singapore Citizen or a Singapore Permanent Resident and who is above 21 years old.
- Company has to declare other awards (international, national or industry) received previously.
JUDGING CRITERIA
All nominees will be assessed on the following by our Judging Panel, comprising our Spirit of Enterprise Board of Governors: Entrepreneurship Spirit & Leadership- Exhibits vision, mission, commitment, ability to make calculated risks, and always striving to excel
- Demonstrates capabilities to turn vision into business realities and sustaining the business
- Demonstrates his/ her perseverance to overcome adversity or challenges
- Entrepreneur is forward looking and is seeking ways to develop their businesses
- Received accolades and certifications from government agencies and industry bodies
- Able to promote a teamwork and employee empowerment environment within company
- Is open and receptive to new ideas, thus promoting a learning culture within the company
- Demonstrates ethical conduct in business
- Has a fair and ethical business practice system within the company.
- Shows good track record on long-term sustainability of the business
- Shows ability to make a significant impact to the business financial performance (profitability, cash flow, ROI, ROE, etc)
- Pioneers new technology or business approach
- Implemented innovation solutions within company to improve productivity, deliver service excellence, expanding market share, etc
- Demonstrate impact on job creation and improving the economic situation of the community they serve
- Implements initiatives that make a positive contribution to the society and community
AWARD CONDITIONS
Entrepreneur must accept the award and be present at the SOE Awards Ceremony, if selected. Entrepreneur agrees for SOE to feature their stories and to publicize them. SOE will not pay any royalty fees to nominees/ awardees for publicizing their stories.PARTICIPATION REQUIREMENTS
The Spirit of Enterprise Award is open for nomination by our SOE Board of Governors and appointed Student Interviewers. All nominees must complete the nomination form and send together with the requested supporting documents to SOE for preliminary screening to ensure that eligibility criteria have been met. Thereafter, our SOE appointed Student Interviewers will contact shortlisted nominees for interviews and submit their interview reports which our judging panel will review and select the awardeesABOUT THE ORGANISER
The Spirit of Enterprise (SOE) is established in Year 2003 with the twin mission to:- Promote and advance entrepreneurial spirit in Singapore by honouring local self-reliant entrepreneurs operating small and medium-sized businesses; and
- Inspire Singaporeans, especially the young, to become entrepreneurs by facilitating interaction, communication and knowledge dissemination and interaction between students and the entrepreneurs.
