SINGAPORE, August 10, 2022 – FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and one of the world’s largest express transportation companies, announced the winners of the Singapore FedEx Express/Junior Achievement International Trade Challenge (FedEx Express/JA ITC) 2022. The three winning teams will represent Singapore at the Asia Pacific FedEx Express/JA ITC finals in August 2022.
This year’s Singapore FedEx Express/JA ITC 2022 winners are Putra Zayan Bin Mohd Jaffry and Ramalingam Prabhakaran from Team Amnach (Raffles Institution), Paul Ong Tze Ren and Yau Li Ting Jamie from Team Eye Dietrix (Singapore Polytechnic) and Ilangovan Harishiga and Sanyukta Arunkumar from Team Bon Esprit (Raffles Institution).
Organized by Junior Achievement (JA) Asia Pacific and sponsored by FedEx Express, the FedEx Express/JA ITC is an annual three-part competition that aims to nurture the entrepreneurial spirit and sharpen business skills of students. Participants are tasked with developing a winning market entry strategy plan for a given product and target market.
Teams first participated in an International Trade Challenge Workshop that explains competition criteria and offers tips on market entry strategy. 14 teams of two were shortlisted thereafter, to present their business ideas at the FedEx Express/JA ITC Singapore Finals. Winning teams from the Singapore round will then advance to the International Trade Challenge Regional Finals, where they compete against teams from 9 other Asia Pacific markets[1] .
This year, the Singapore FedEx Express/JA ITC 2022 participants were evaluated on their plans to sell a health product in Cambodia. Judges comprising FedEx executives and Junior Achievement volunteers looked at originality, depth of research undertaken and feasibility of ideas. By demonstrating strong reasoning, ideation and critical thinking, Team Amnach, Team Eye Dietrix and Team Bon Esprit beat 11 other submissions.
Putra Zayan Bin Mohd Jaffry of Team Amnach noted, “The competition has been eye-opening in many respects. We have had the opportunity to examine real world scenarios under expert guidance, of mentors from FedEx, flex our creative muscles and put textbook principles into practice. Whilst the competition is intense at times, I’ve enjoyed meeting new people and exchanging views and ideas just as much. This experience has really inspired me to consider and pursue entrepreneurship as a vocation.”
“I am proud of the winning teams and the talent, the ideas I have seen this year at JA ITC. Today, we are faced with an increasingly complex operating landscape that will require creative ideas and agile problem-solving. Establishing a firmer grasp on how markets work in a post-pandemic global economy has therefore become especially critical,” said Eric Tan, managing director operations, Singapore, FedEx Express. “This annual challenge has developed into a unique platform that helps to deepen participants’ understanding of what roles world trade, product distribution, and sales play in a market environment. By equipping these students with the knowledge and skills to navigate new norms, we hope to cultivate aspiring entrepreneurs and business leaders to be more effective agents of change.”
“The pandemic in the last two years has not dampened participation. In fact, with the format turned virtual, we have seen more numbers of students apply. This is testament to the success of the FedEx Express/JA ITC competition,” said Ng Hau Yee, Director, Junior Achievement Singapore. “Whilst hard skills are a central part of the learning, we place equal emphasis on adopting a human approach to problem-solving. Through this challenge, we also instill an appreciation for mission culture, teamwork, risk-taking and self-confidence. This helps to shape individual work ethics positively for the long run.”
To encourage greater collaboration, finalists at the Asia Pacific FedEx Express/JA ITC finals will not compete in the same groups, but instead be paired with participants from different countries. This is to foster a sharing of experiences and perspectives with students of other nationalities and cultures, and to inspire ideas that take on a regional scope and dimension.
2022 marks the fifteenth year of Singapore participating in the FedEx Express/JA ITC competition. Since its launch in Singapore in 2008, the program has benefitted 5,541 students in Singapore where 89 students have represented Singapore regionally so far, with three coming in first and two in second place.
For more information about the competition, visit https://www.ja.org.sg/the-16th-fedex-express-ja-international-trade-challenge.html
[1] These are Mainland China, Hong Kong, India, Indonesia, Thailand, Japan, South Korea, Malaysia, the Philippines, and Vietnam