Sixty Young Entrepreneurs Showcase Innovation And Insights On International Business
Hong Kong, August 16, 2018 – A team of student entrepreneurs from South Korea and Vietnam were named winners of the 2018 FedEx Express/JA International Trade Challenge (FedEx/JA ITC) Asia Pacific Finals in Singapore. This year, the finalist teams presented market entry strategy plans to export an elderly wellness product to France. Team Ratoon – comprising Seungwon Lee from South Korea and Duong Ha Anh from Vietnam beat 29 teams from across the region with their wearable device for French elderly that helps prevent falls by monitoring their body balance and alerting them when they are at risk.
This year, sixty students from ten Asia-Pacific markets (Australia, Mainland China, Hong Kong, Japan, Malaysia, the Philippines, Singapore, South Korea, Thailand and Vietnam) took part in the contest. The finalists were randomly shuffled to form teams of two, with each member from a different market, in a bid to further promote cross-culture exchange of ideas.
"We can’t believe we won this challenge given the talented competition and the quality of business proposals that were put together," said Seungwon Lee and Duong Ha Anh of Ratoon. "We are really thankful for this opportunity to be competing against such high caliber students from the region. Not only has this contest equipped us with real-world experience, but it has also given us more confidence than ever to pursue our dreams of becoming an entrepreneur.”
Team Teilah – made up of Terry Yung from Hong Kong and Dalilah Katherine Bridges from Thailand – came second with their idea of a three-in-one exercise bicycle that allows the French elderly to achieve a full-body workout with a single equipment.
Team Wrinkle – made up of Han Kyeol from Singapore and Philippe-Hari de Manny from Hong Kong – came in third with the idea of an elderly care package to help senior citizens in France stay mentally active. The package comprises a puzzle, a potted plant, and words of encouragement.
"What FedEx does best is connect businesses with the world,” said Karen Reddington, president, FedEx Express Asia Pacific. "We are pleased that FedEx is part of this program that helps develop and inspire our next generation of entrepreneurs. I hope the program has inspired these students to think globally and recognize that there are always opportunities for anyone who wishes to expand beyond their home market no matter how small the business idea seems at first."
"FedEx/JA ITC has always aimed to inspire young entrepreneurs to think outside the box. Looking at the impressive work of our young people, I am pleased to say that we have once again achieved what we set out to do," said Vivian Lau, president, JA Asia Pacific. "This program is only the start of their exciting entrepreneurial journey and has enabled and empowered young aspiring entrepreneurs with the necessary business knowledge and real-life skills to pursue their dreams.”
The FedEx/JA ITC program is jointly organized by FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, and JA Asia Pacific, a member of JA Worldwide. It aims to inspire and educate young people about global business and mold them into the next generation of entrepreneurs by challenging them to devise practical, workable business proposals.
Now in its 12th year, the program has grown considerably: just 295 students from three markets took part in the 2007 program. This year, more than 2,700 students from ten markets took part.
For more information, please visit www.facebook.com/AsiaPacificITC.
About FedEx Express/JA International Trade Challenge Asia Pacific (FedEx/JA ITC) Designed to foster business knowledge through practical teamwork exercises and classroom learning, the FedEx/JA ITC program comprises two key activities – the International Trade Workshops and the International Trade Challenge. To take part in the FedEx/JA ITC, students in teams of two have to develop a specific product or service and create an original international market entry strategy for a designated country. Through this process, students gain first-hand experience of what roles world trade, product distribution and sales play in a market environment. In addition to teamwork, participating students learn the basics of risk evaluation in the business world and gain confidence in their analytical ability.
About JA Asia Pacific JA Asia Pacific is a member of JA Worldwide, one of the world’s largest youth-serving NGOs dedicated to activating youth for the future of jobs. Home to 60% of the world’s youth, JA Asia Pacific is dedicated to enabling and empowering the youth to benefit from the region’s economic development and to create a positive impact in their lives and communities. The 17 members JA Asia Pacific network is powered by over 30,000 volunteers and mentors from all sectors of society, reaching more than 825,000 youth around the region. To learn more about JA Asia Pacific, please visit www.jaasiapacific.org or visit @jaasiapacific on Facebook.
About FedEx Express FedEx Express is the world's largest express transportation company, providing fast and reliable delivery to more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, by a definite time and date supported by a money-back guarantee (subject to relevant terms and conditions).
About FedEx Corp. FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $65 billion, the company offers integrated business solutions through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 425,000 team members to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. To learn more about how FedEx connects people and possibilities around the world, please visit http://about.fedex.com.