Opening Remarks by Senior Minister of State Low Yen Ling at the Emerging Enterprise Awards and Ceremony 2026

Ms Elaine Heng, Head, Global Commercial Banking, OCBC,

Ms Chen Hui Fen, Editor, The Business Times,

Distinguished Guests,

Ladies and Gentlemen,

1. Good evening. I am very happy to be back here at the Emerging Enterprise (EE) Awards and Ceremony 2026. We are all very delighted to join all of you at this occasion in marking the achievements of our resilient enterprises and celebrating your enduring spirit of entrepreneurship.

2. Tonight, like the past 18 years, this being the 19th edition, we come together to recognise and honour exemplary enterprises that have reached the early pinnacles of success with their bold ideas, determination and perseverance, and we know it has not been easy.

3. This year’s theme, “Diamonds”, because it truly exemplifies what it takes to succeed in this time. Because diamonds present an apt metaphor for our promising emerging enterprises. We all know diamonds form under immense pressure and are polished to shine. Likewise, tonight, our award-winning enterprises have truly emerged as champions after an arduous growth journey. Because the path from the seed of bold ideas to scaling the rocks of challenges has brought these enterprises to the pinnacle of success tonight. We all know you will scale to more pinnacles of success in future because of OCBC Bank’s support, and reporting by the Business Times.

Turning ideas into business opportunities

4. Every business begins with an idea – often to solve a real-world problem or address an unmet need.

5. For some of our finalists, we know that your business model is about helping companies manage cyber threats or enabling companies to adapt to climate change. All very issues confronting us. Others saw existing inefficiencies or spotted emerging market opportunities. They all have the ability to see possibilities instead of challenges, and the tenacity to turn these potential into solutions that create value for people in Singapore, the region, and the world.

6. One such example is Leapwave Private Limited, an A*STAR spin-off under its DeepFAIC brand. Developed from research by A*STAR and NTU, Leapwave’s DeepFAIC platform helps us all detect deepfake manipulation across digital media plaforms and helps organisations distinguish between authentic and AI-generated content. Now, it is quite hard to decipher and this is where DeepFAIC comes in. At a time when digital content can be increasingly difficult to verify, the company addresses a growing need for trust and authenticity. Because their platform protects organisations against impersonation, fraud and misinformation.

7. Another enterprise with the ability to turn emerging challenges into business opportunities is Go-Genie Private Limited. This is a Singapore-based logistics technology company that connects multiple logistics providers to a single ecosystem. Go-Genie uses technology and real-time data to help logistics companies optimise their operations, improve resource utilisation and support carbon emissions reporting. It demonstrates how innovative solutions can deliver both business value and positive environmental impact.

8. I am encouraged that promising enterprises continue to vie for the Emerging Enterprise Sustainability Awards (EESA). Your ability to harness technology and innovation to develop innovative and clever solutions help Singapore tackle climate impact and enhance our green sector. This is the second year the Emerging Enterprise Awards is happening in the same week as Singapore International Energy Week (SIEW), where we all talk about how to come together to create more innovative solutions for climate action. I think this is very synergistic.

Building resilience to sustain growth

9. While ideas spark businesses, resilience is what enables them to navigate uncertainty, sustain growth and turn their potential into lasting value. We know the last few years have not been easy.

10. Here, the diamond metaphor is particularly fitting. Just as diamonds form under immense heat and pressure, enterprises are often tested and strengthened by the challenges you face.

11. In recent years, companies have had to navigate a more complex and uncertain operating environment – from geopolitical tensions and supply chain disruptions to rising business costs and, in some sectors, changing consumer preferences.

12. For emerging enterprises, these pressures can be especially challenging, given your relatively limited resources and the demands of scaling your businesses. Resilient emerging enterprises are not distinguished simply by the ability to withstand challenges, but by the willingness to adapt and find new ways to create value.

13. Strongkeep, a Singapore-based integrated cybersecurity platform, is one such example. Recognising the growing cybersecurity challenges and difficulties that small and medium-sized enterprises (SMEs) have to face in accessing cybersecurity resources, it developed an integrated platform that brings together cybersecurity protection, compliance support and user awareness training. By making these capabilities more accessible to SMEs, the company helps businesses strengthen their defences against evolving cyber risks.

14. Another example is Elixir Esports, a Singapore-based esports company. Besides owning and operating gaming and internet cafe brands such as Galaxy Internet Cafe, it has diversified into hospitality-driven gaming venues. It combines social spaces, membership programmes and esports experiences for gaming enthusiasts. This diversification response to increased demand for immersive experiences and social interaction within the gaming community.

15. These examples have shown us not just how enterprises have risen to the occasion but demonstrated that the ability to adapt and seek new opportunities amidst change is an important ingredient in determining the longer-term survival of a business, especially in an ever-changing world.

Building a Strong Ecosystem Requires Collective Effort

16. Just as a diamond’s brilliance depends on the light around it, successful enterprises shine brighter and do better in a vibrant ecosystem. People and partners, including stakeholders such as trade associations, financiers and local governments, create and contribute to a pro-business environment that helps enterprises grow, shine and expand into new markets.

17. The Government is committed to helping our local enterprises and SMEs stay competitive, and seize new opportunities, both in Singapore and overseas. At the Committee of Supply (COS) Debate earlier this year, we announced increases support for grant schemes that help businesses venture abroad, to up to 70% for SMEs, and up to 50% for non-SMEs. This includes schemes such as Enterprise Singapore’s Market Readiness Assistance (MRA) grant, the Business Adaptation grant, and the Global Innovation Alliance (GIA).

18. Beyond grants, Enterprise Singapore’s network of more than 35 Overseas Centres globally also helps businesses internationalise. They provide market intelligence, facilitate partnerships, and help businesses establish and deepen their presence abroad.

19. Besides the Government, initiatives such as the Emerging Enterprise Awards help bring together the broader ecosystem, giving promising enterprises visibility and support. Here, I want to turn to the regional SMEs and welcome you to Singapore, not just to participate in tonight’s event or to receive the awards, but to consider setting up operations in Singapore as a springboard to the regional and international markets. I want to thank the Business Times, OCBC Bank and all supporting partners for organising the awards and for your continued partnership in building Singapore’s thriving enterprise ecosystem.

20. Through OCBC’s financing support, Business Times’ media exposure and valuable business networking opportunities, the Awards celebrate innovative, growth-driven enterprises and provide a launchpad for emerging enterprises to achieve greater success.

Looking Ahead

21. As we celebrate the achievements of tonight’s finalists, we are reminded that building a successful enterprise takes courage and tenacity, from coming up with a seed idea, a prototype, overcoming the valley of death, to creating a viable business and the grit to keep adapting and moving forward to sweet success and overcome adversity.

22. Like diamonds, the true brilliance of our enterprises is revealed not only through their achievements, but also through their resilience and the value they continue to create for people in Singapore and the region.

23. To all the finalists and winners, we extend our heartiest congratulations on your achievements and your early pinnacles of success. We know this is the first of many pinnacles of success. We arecertain tonight’s recognition will spur you to continue pushing boundaries, embracing innovation and seizing new opportunities.

24. Thank you.