In an impressive showcase of talent and creativity, the 2024 FedEx/Junior Achievement (JA) International Trade Challenge Asia Pacific finals concluded recently in Singapore, highlighting innovative ideas from students across Asia. This event engaged over 4,500 students from ten different markets, including Hong Kong, India, Indonesia, Japan, Malaysia, the Philippines, Singapore, South Korea, Thailand, and Vietnam. With sustainability at the forefront of modern business discussions, students were tasked to present market entry strategies for products that align with a circular economy, targeting Turkey as their market of choice.
The focus on a circular economy reflects a growing consumer interest in environmental sustainability and corporate responsibility. The challenge promoted not only individual creativity but also cross-cultural collaboration, as students formed teams that included members from diverse backgrounds. This structure encouraged participants to blend perspectives and explore innovative solutions together. They presented their strategies to a panel of esteemed judges composed of leading entrepreneurs and small business owners from Singapore.
Kawal Preet, the President of FedEx Asia Pacific, emphasized the importance of such initiatives in fostering entrepreneurship among the youth. He stated, “At FedEx we believe that the power of innovation and connectivity can change the world. The FedEx JA International Trade Challenge epitomizes this belief by promoting global entrepreneurship among the youth.” The challenge serves as an essential platform for students not just to learn about international trade but to tackle real-world problems with innovative ideas.
Winning first place was Team CJ, featuring Cheryl Lim Xin Yi from Singapore and Julia Jasmine Binti Jufri from Malaysia. Their proposal, which focused on creating biofilm from seaweed, addresses both sustainability and innovative product development. In second place was Team Circuvate, which included Wesley Ng Yu De from Singapore, proposing the development of biodegradable plates funded through advertising at football stadiums. Team ONE, comprised of Rysa D. Sumalinog from the Philippines and Clarisse Chee Qian Ying from Singapore, offered a unique approach by suggesting the conversion of food waste into traditional Turkish carpets.
Team CJ’s members were elated by their victory, noting the enriching experiences and learnings they gained throughout the competition. Cheryl Lim remarked, “Taking part in the competition has truly been an eye-opening experience. It helped us understand that any great venture needs bold thinking, thorough planning, and great collaboration with peers and industry experts.” Winning the challenge not only boosts their confidence but also ignites their passion for entrepreneurship, proving that such competitions can lead to long-term personal and professional growth.
Maziar Sabet, President and CEO of JA Asia Pacific, reinforced the necessity of nurturing young talent for a better future. He expressed his enthusiasm for the potential each student holds, stating, “The FedEx/JA International Trade Challenge reflects that belief, empowering our youth to explore their talents, innovate with purpose, and become the architects of a better future.” The commitment to fostering this potential aligns with efforts to equip the next generation with the skills necessary to navigate and influence the global economy.
The judges recognized the quality of presentations and the innovative thought processes behind the students’ proposals. Alex Fan, Co-founder of Sunday Bedding, remarked on the experience: “It has been eye-opening – to see the young minds showcasing their problem-solving skills and presenting their solutions so eloquently.” Kloe Ng, Co-founder of Out of the Box Education, echoed this sentiment, praising the thoughtfulness behind each proposal, especially given the short two-day timeline in which they were developed.
The FedEx/JA International Trade Challenge has an impressive track record, engaging nearly 50,000 students in topics such as business, economics, and international trade over the past 18 years. This program marries classroom learning with practical teamwork, preparing students for future challenges they may face as budding entrepreneurs. Furthermore, initiatives like the Small Business Grant Contest not only foster entrepreneurial spirits but also provide critical resources to turn innovative ideas into reality.
In conclusion, the 2024 FedEx/JA International Trade Challenge provided a vibrant platform for students across Asia to explore meaningful contributions to global sustainability. The winning ideas not only reflect the innovative thinking of young minds but also underscore the importance of nurturing talent in addressing real-world issues. As these young leaders venture into their futures, they carry with them the invaluable lessons learned and the confidence gained from such transformative experiences.
