SINGAPORE - In celebration of Chinese New Year, visitors to the River Hongbao 2024 (RHB) at Gardens by the Bay will be able to check out and buy inventive culturally-inclusive offerings from youths who won the entrepreneurship competition today. RHBHacks is sponsored by Mapletree Investments Pte Ltd (“Mapletree”) and is supported by the Singapore Chinese Chamber of Commerce & Industry.
Hosted at Mapletree Business City, RHBHacks 2024 gathered youths with a strong entrepreneurial mindset from various tertiary institutions to compete and pitch their business proposals to a panel of judges. Inaugurated in 2019, each of the top four winning teams was awarded S$2,000 prize money, S$5,000 seed money and the opportunity to set up a stall at RHB. The most innovative and best pitch teams also won $500 in prize money.
Mr Edmund Cheng, Mapletree Chairman said: “Mapletree continues to support RHBHacks each year because it is a platform for budding entrepreneurs to channel their passion into creating innovative and socially responsible solutions. Winning teams also have the unique opportunity to put their ideas to the test at RHB Carnival. We hope this will spur them in their entrepreneurship journeys.”
Ms Gan Siow Huang, Minister of State for Ministry of Education and Ministry of Manpower, graced the event at the Mapletree Business City as Guest-of-Honour. Ms Gan said: “Our pioneers’ spirit of unity and mutual support, as well as virtues of perseverance and resilience have made Singapore what it is today. These are values that have helped us overcome difficult times, including the recent COVID-19 pandemic. I am encouraged to see that our youth participants have embraced the challenge to think creatively, foster innovation and exemplify inclusivity in social entrepreneurship.”
The hackathon attracted 38 business proposals submitted by teams comprising two to five members, from a total of 8 local and private tertiary institutions. The participating youths ranged in age from 18 to 29.
The theme this year - ‘Together, United, Inclusive’ aims to commemorate Singapore’s founding Prime Minister Lee Kuan Yew's 100th birth anniversary in 2023. Mr Lee was a staunch advocate for bilingualism and multiculturalism.
RHBHacks offers a unique platform for young entrepreneurs to experiment with how a product or service can incorporate the themes of unity and inclusivity.
The youths first attended a virtual retail workshop, where a retail expert from Mapletree shared marketing basics as well as some quick tips. During the session, a representative from Singapore Malay Chamber of Commerce and Industry taught students how to craft an effective pitch deck and deliver a compelling pitch.
After refining their business ideas and sending in their proposals, 12 teams were shortlisted to take part in today’s hackathon.
The winning teams will be amongst the many stalls (including food, retail and games) set up at RHB, which runs from 8 February to 17 February 2024. The team with the highest profit earned at the end of RHB will receive another $300.
The teams will contribute 70 percent of their earnings to an IPC-registered charity of their choice, aligned to Mapletree’s CSR pillars.
Please refer to Annex A for list of winners.
Photos:
Speech by Guest-of-Honour, Ms Gan Siow Huang, Minister of State, Ministry of Education & Ministry of Manpower
Welcome address by Mr Cheah Kim Teck, Mapletree Board Member and Chairman of Audit and Risk Committee
Team Henosis receiving the Best Pitch Award from Mr Pok Cheng Chong, Deputy Secretary-General of SFCCA (Left) and Mr Lim Hock Yu, Secretary-General of SCCCI (Right)
Team Ateteen receiving one of the Top 4 Finalists Award from Ms Gan Siow Huang, Minister of State, Ministry of Education & Ministry of Manpower
Team High5 receiving one of the Top 4 Finalists Award from Ms Gan Siow Huang, Minister of State, Ministry of Education & Ministry of Manpower
Team TeePee receiving one of the Top 4 Finalists Award and Most Innovative Award from Ms Gan Siow Huang, Minister of State, Ministry of Education & Ministry of Manpower
Team Kaius receiving one of the Top 4 Finalists Award from Ms Gan Siow Huang, Minister of State, Ministry of Education & Ministry of Manpower
Group photo of shortlisted RHBHacks 2024 teams, judges and guests at Mapletree Business City
Group Photo of the Top 4 Finalists for RHBHacks 2024
Group photo of Mr Wan Kwong Weng, Group Chief Corporate Officer, Mapletree, representatives from SFCCA and SCCCI, and RHBHacks 2024 Judging Panel
Credits: River Hongbao 2024 Organising Committee
For media enquiries, please contact:
Ms Jeanneth Teng
River Hongbao 2024 Organising Committee (Secretariat)
Tel: 9746 6195
Email: media@sfcca.sg
Ms Grace Sung
Mapletree Investments Pte Ltd
Tel: 6804 8474/9199 2206
Email: grace.sung@mapletree.com.sg
Ms Grace Lee
Mapletree Investments Pte Ltd
Tel: +65 6377 6218 / 9750 6482
Email: grace.lee@mapletree.com.sg
Edgar Tan
Singapore Chinese Chamber of Commerce & Industry
Tel: 6337 8381/9747 7005
Email: edgar@sccci.org.sg
About River Hongbao
As a part of Singapore’s Chinese New Year festivities since 1987, River Hongbao is organised by the Singapore Federation of Chinese Clan Associations, Singapore Chinese Chamber of Commerce & Industry, Singapore Press Holdings’ Chinese Media Group, Singapore Tourism Board and People's Association.
For more information, please visit: www.riverhongbao.sg and https://www.facebook.com/riverhongbaosg/
About Mapletree
Headquartered in Singapore, Mapletree is a global real estate development, investment, capital and property management company committed to sustainability. Its strategic focus is to invest in markets and real estate sectors with good growth potential. By combining its key strengths, the Group has established a track record of award-winning projects, and delivers consistent and high returns across real estate asset classes.
The Group manages three Singapore-listed real estate investment trusts (“REITs”) and eight private equity real estate funds, which hold a diverse portfolio of assets in Asia Pacific, Europe, the United Kingdom (“UK”) and the United States (“US”). As at 31 March 2023, Mapletree owns and manages S$77.4 billion of office, retail, logistics, industrial, data centre, residential and student accommodation properties.
The Group’s assets are located across 13 markets globally, namely Singapore, Australia, Canada, China, Europe, Hong Kong SAR, India, Japan, Malaysia, South Korea, the UK, the US and Vietnam. To support its global operations, Mapletree has established an extensive network of offices in these countries.
For more information, please visit www.mapletree.com.sg.
About Singapore Chinese Chamber of Commerce & Industry
Established in 1906, the Singapore Chinese Chamber of Commerce & Industry (SCCCI) is an internationally renowned business organisation and the apex body of the Chinese business community in Singapore. It is the founder of the biennial World Chinese Entrepreneurs Convention, a global business convention. It plays a key and pro-active role in representing the interests of the local business community.
The SCCCI has a membership network comprising 5,000 corporate members and has more than 160 trade association members, representing over 40,000 companies including large financial and business organisations, multinational corporations, government-linked companies, and small and medium enterprises from a wide spectrum of trades and industries. These members together provide vast resources and opportunities which enable the SCCCI to develop an influential global Chinese business network for business, education, culture and community development. In return, they share a strong sense of pride and identity together and benefit immensely from the SCCCI’s membership services, facilities and activities.
For more information, please visit www.sccci.org.sg.
