FedEx Small Business Grant Contest awards four rising startups in Asia-Pacific

From left: FedEx Express President AMEA Kawal Preet with CEOs of four winning APAC startups in its Small Business Grant Contest

Express transportation company FedEx Express (FedEx) has announced the winner of its 2024 Small Business Grant Contest (SBGC) in Asia-Pacific. Three other companies were recognized with special mentions.

The four companies from Indonesia, Malaysia, the Philippines & Singapore will share a prize pool of US$69,000, each receiving a grant to accelerate their business in the region and beyond.

This is the third year that FedEx is collaborating with Forbes Asia to identify rising startups from the “Forbes Asia 100 to Watch” list. A panel of judges from FedEx and Forbes Asia selected the finalists from among the region’s most outstanding startups and small businesses across a broad spectrum of industries.

The winner, receiving a grand prize worth US$30,000, is Lucence, a Singapore-based precision oncology startup developing non-invasive tests that aim to accurately diagnose cancer. Tan Min-Han, founder and CEO of Lucence, received the grant.

The small businesses with special mentions were awarded a cash prize of US$13,000 each.

From Malaysia, Aerodyne is a drone-based enterprise solutions provider. The company’s autonomous drones can spray crops, inspect power lines, or monitor city streets. Its founder and CEO, Kamarul A Muhamed, received the grant.

Fresh Factory, founded in Indonesia by its CEO Larry Ridwan, is an integrated cold chain fulfillment company specializing in storing and delivering chilled, frozen, and dry goods.

The Philippines is also represented among the special mentions with SariSuki, a social e-commerce startup co-founded by its CEO Brian Cu. SariSuki sells groceries through its website and app, aiming to transform the Philippines’ retail landscape.

“This year’s applicants exemplify the spirit of innovation that is shaping the future of business. It’s so exciting to see how these agile innovators are developing solutions that directly impact local communities as well as addressing wider global needs,” said Kawal Preet, president of Asia-Pacific, Middle East & Africa (AMEA) at FedEx Express.

First launched in the US in 2012, the FedEx SBGC now covers 31 international markets across Asia-Pacific, Europe, and Latin America.

“Supporting small businesses ultimately opens new possibilities for the economic development of communities all around the world. That’s why we are so passionate about nurturing entrepreneurship and empowering small businesses in the region,” Ms. Preet added.