GEORGE TOWN, October 2 – The Young Entrepreneurship Challenge (YEC) program, spearheaded by the Penang Youth Development Corporation (PYDC), is on a mission to nurture and guide the youth towards the exciting path of entrepreneurship. This year, the competition has expanded to encompass two categories: the High School category and the Open category. The climax of this initiative, the Youth Entrepreneurship Challenge (YEC) 2023 Final, is set to take place on October 7, 2023, at The Ship Campus, Batu Kawan, Penang.
Each category will feature 10 finalists who will deliver their final pitches on this day, accompanied by partner collaborations, finalist booth exhibitions, and the PYDC gallery. As part of the journey leading to the finals, an Entrepreneurship Forum was convened on September 2, 2023, from 10:00 AM to 12:00 PM, conducted via Zoom. The forum had the privilege of hosting three distinguished speakers from Singapore, China, and Malaysia, offering valuable insights and practical experience in the realm of entrepreneurship to aspiring young minds.
YB Gooi Zi Sen, Penang EXCO Youth, Sports, and Health, graced the forum with words of encouragement for the YEC finalists. In his speech, YB Gooi Zi Sen highlighted the dynamic nature of youth and their potential to significantly boost creativity and innovation in entrepreneurship. He commended the Youth Entrepreneurship Challenge (YEC) as an outstanding initiative by the Penang State Government to enhance entrepreneurial capacity among the youth and expressed eagerness to witness the impressive business ideas that would emerge from this year’s YEC.
The first speaker, Shamir Rahim from Singapore, is a technopreneur deeply passionate about AI and biomedical technologies. As the Founder & Group CEO of VersaFleetTM, he is dedicated to automating logistics operations worldwide. Shamir emphasized the logistics business’s objective to optimize costs and provide vital assistance to companies. He underscored the significance of acquiring customers and understanding the target audience when embarking on an entrepreneurial journey, as customers play a pivotal role in generating business revenue, thereby ensuring long-term profitability.
China’s representative, Ms. Ravenna Chen, currently holds the position of Director of Asia Pacific at Tusstar, while also serving as CEO of TusStar (Malaysia), COO of TusStar Singapore, CEO of TusStar Australia, and Vice General Manager of TusCBEC. Ms. Chen highlighted TusStar’s role in supporting incubation efforts and creating a conducive entrepreneurship ecosystem in the region. She stressed the crucial role of innovation in entrepreneurship, as entrepreneurs serve as problem solvers. She also emphasized the importance of having a passion for one’s work to ensure commitment and humility in all endeavors.
Dr. Gwee Sai Ling, the General Manager of PYDC, represented Malaysia as the final speaker. Dr. Gwee shed light on the personal characteristics vital for young entrepreneurs. She explained PYDC’s role in youth development and its unwavering support for aspiring entrepreneurs. Dr. Gwee highlighted that capital, including knowledge and skills, is fundamental for effectively starting a business. She also emphasized the importance of youth resiliency, which shapes young entrepreneurs to be steadfast, courageous risk-takers, and resourceful individuals, ensuring the sustainability of their entrepreneurial ventures.
