Singapore, 27 August 2021 – CLA Global TS (formerly Nexia TS) congratulates the winners and finalists of the 4th CLA Global TS Business Case Challenge which took place on 18 August 2021. The challenge aims to nurture local entrepreneurship by supporting aspiring students in their entrepreneurial journey through mentorship and peer learning.
This year, the students were challenged to incorporate sustainability components in part of their product/service development as the world is faced with climate change at an unprecedented rate. The top five teams who made to the finals were evaluated mainly on financial risks and sensitivities among many others.
The winning team, Slink, clinched the top prize with its data intelligence platform that gathers and tracks ESG-focused data which is powered by a unique combination of human analysis and artificial intelligence technology. In second place, team Sustainable New Living, goes big on converting Singapore’s food waste into compost while team Mobius, in third place, incentivises consumers to make sustainable lifestyle changes while purchasing consumer packaged goods.
Finalist teams namely, Divergent Thinkers, presented a revolutionary solution of high-tech solar-powered UV-C light sanitizer, and team Mugger with its practical mug-sharing initiative that strives to make ‘Bring Your Own’ a totally seamless and hassle-free process.
At the competition, guest judge, Harish Nim, Co-Founder at SamataSoul, and former Vice President of the Spirit of Enterprise advised students, “Not to give up. Go through many rounds of iterations because most entrepreneurship plans and ideas get better with more experience and exposure gained.”
Henry Tan, Group CEO and Chief Innovation Officer at CLA Global TS, said, “Green investing is huge and positioned for growth as the Singapore government is determined to encourage businesses to incorporate these sustainability practices into their operations.”
Alvin Wee, Director of Risk Advisory at CLA Global TS, added on, “Companies in Singapore who are planning to incorporate ESG practices and sustainability reporting into their annual reports need to consider different material factors. He further explained that “Depending on the type of sustainability framework that the company is planning to adopt, these material factors differ from one sector to another which can have an impact on financial performance.”
About CLA Global TS (formerly Nexia TS)
Founded in 1993, CLA Global TS (formerly known as Nexia T.S.), is an award-winning Asia-Centred Business Advisor. An independent member firm of CLA Global Network, CLA Global TS provides a full spectrum of professional services including, but not limited to Assurance & IPO Reporting, Tax, Risk Advisory, Valuation, Insolvency & Restructuring, Sustainability & Climate Change Advisory and more.
For more information, visit CLA-TS.com.