Winning students shine in FedEx JA trade challenge

Federal Express Corporation and Junior Achievement (JA) have announced the winners of the 2024 FedEx/JA International Trade Challenge Asia Pacific finals.

The event, held in Singapore, saw the participation of over 4,500 students from 10 markets including Hong Kong SAR, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Thailand, and Vietnam.

The final stage, which convened 60 students in Singapore, required participants to devise a market entry strategy for a product that supports a circular economy, with Turkey designated as the target market. This task was designed to resonate with the increasing consumer focus on environmental impact and corporate responsibility. Students were paired into teams comprising members from different markets to promote cross-cultural understanding, and presented their ideas to a panel of judges made up of Singapore's leading entrepreneurs and small business owners.

Kawal Preet, President of FedEx Asia Pacific, highlighted the significance of the event by stating, "At FedEx we believe that the power of innovation and connectivity can change the world. The FedEx JA International Trade Challenge epitomises this belief by promoting global entrepreneurship among the youth. These brilliant young minds are not just learning about international trade; they are addressing real-world problems with creativity and insight. As these young leaders break down barriers and build bridges across borders, they are exemplifying the FedEx ethos of connecting people and possibilities."

Team CJ, composed of Cheryl Lim Xin Yi from Singapore and Julia Jasmine Binti Jufri from Malaysia, claimed the first-place prize with their innovative idea to create biofilm from seaweed. In the runners-up positions were Team Circuvate and Team ONE. Team Circuvate, which included Wesley Ng Yu De from Singapore, proposed the development of bioplastic plates funded through advertisements at football stadiums. Team ONE, comprised of Rysa D. Sumalinog from the Philippines and Clarisse Chee Qian Ying from Singapore, suggested converting food waste into traditional Turkish carpets.

Cheryl Lim Xin Yi and Julia Jasmine Binti Jufri from the winning Team CJ expressed their excitement, saying, "We are thrilled to be selected as the winners of the competition. It's a great honour and privilege to contend with top talent in the region. 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 this competition gives us the confidence to continue exploring what's possible on our path to becoming future entrepreneurs."

Maziar Sabet, President and CEO of JA Asia Pacific, underscored the importance of nurturing young talent, stating, "I am deeply inspired by the belief that every young person possesses inherent potential and the capacity to contribute meaningfully to society. 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. At Junior Achievement, we are committed to nurturing this potential, knowing that today's youth are the leaders of tomorrow, capable of creating positive and lasting change in our world."

This year's competition also received acclaim from judges who were impressed by the students' abilities. Alex Fan, Co-founder of Sunday Bedding, remarked, "The experience has been eye opening – to see the young minds showcasing their problem-solving skills and presenting their solutions so eloquently. It has been quite thought-provoking and immensely enjoyable." Kloe Ng, Co-founder of Out of the Box Education, added, "I was incredibly blown away by the presentations and the thoughtfulness behind each proposal, especially with the knowledge that they were all done in only 2 days. It was also great to see learning and exchange of knowledge between the participants."

The FedEx/JA International Trade Challenge, jointly organised by FedEx and JA Asia Pacific, has introduced nearly 50,000 students to business, economics, and international trade over the past 18 years through a combination of classroom learning and practical teamwork exercises. The programme continues to support young entrepreneurs across the region through initiatives like the Small Business Grant Contest (SBGC).