SG60: Singapore SMEs and startups look overseas for growth
Enterprise Singapore (EnterpriseSG), the national agency tasked with supporting Singapore companies' growth, is at the forefront of this push. 'Internationalisation – via accessing new markets, new production bases or new technologies and capabilities, remains key to helping companies grow,' says Yeoh Mei Ling, director of markets strategy and policy at EnterpriseSG.
Despite global uncertainties, she notes a steady interest among SMEs to venture abroad; the agency supported 2,600 internationalisation projects in 2024, up from 2,500 in 2023.
'For companies that have already internationalised, there is a pressing need to consider diversification strategies into new markets or reconfiguration of their supply chain (including the set-up of new production facilities) to build resilience,' Yeoh adds.
Yeoh Mei Ling, director of markets strategy and policy at EnterpriseSG, has observed a steady interest among SMEs to venture abroad despite global uncertainties. PHOTO: ENTERPRISE SINGAPORE
Differing paths
While the imperative is clear, the approach to internationalisation differs significantly between SMEs and startups. SMEs tend to tread more cautiously, often due to resource limitations, as well as differing market demands and risk appetite.
Ang Yuit, president of the Association of Small and Medium Enterprises (ASME), says local SMEs are 'generally not actively planning for internationalisation'. 'Many owners, being locally born and bred, view Singapore as their main market and do not build their businesses with multiple geographies in mind,' he explains.
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'Singapore's high-value, high-skill economy also makes regional expansion less attractive, as margins in neighbouring markets are typically lower while costs – including the SME owner's time – remain high.'
In many cases, high operational costs in Singapore coupled with lower margins abroad diminish the appeal of overseas expansion, he notes.
Moreover, most SMEs lack the resources to adapt their business models to different markets, Ang adds. 'You also have vastly differing regulatory environments and business practices; in some markets, rules may serve more as guidelines, creating unpredictability.' This ambiguity can deter smaller firms that are more risk-averse or less familiar with operating abroad.
However, he highlights that strategic and agile SMEs are already finding opportunities; at the same time, macroeconomic shifts such as geopolitics and digitalisation are opening valuable doors abroad.
Offshoring, for instance, is gaining traction and allows SMEs to tap lower-cost talent while keeping core operations in Singapore. 'Malaysia and the Philippines are common choices, while the Philippines and India are preferred in specialised areas such as IT,' says Ang.
Ang Yuit, president of ASME, says local SMEs are 'generally not actively planning for internationalisation' for various reasons. PHOTO: ASME
Startups break ground early
Startups, by contrast, tend to show a greater appetite for global scale from the get-go.
Patrick Lim, CEO of Action Community for Entrepreneurship (ACE.SG), has observed that startups are 'increasingly looking at internationalisation earlier in their development and even in the seed stage'. 'We also find that most Singapore startups are seeking commercial opportunities as the first step of their market exploration, in comparison with fundraising or diversification of supply chain.'
Still, startups face their own hurdles.
Among the most common is their readiness for internationalisation, says Lim. Startups need to juggle limited resources while managing product development and early sales efforts, he adds. Having a local partner or team to support in-market expansion is also key, or they will struggle with managing operational demand across borders.
To help bridge that gap, ACE.SG curates outbound business missions and works with overseas government and ecosystem partners. In May, it led a delegation to Startup Terrace Kaohsiung, where participating startups connected with Taiwanese corporates and VCs while attending InnoVEX, an innovation platform.
ACE.SG is also collaborating with the government of Western Australia to help healthcare and medtech startups plug into Perth's hospital and research ecosystem. The organisation has signed a memorandum of understanding with Hankyu Hanshin Properties, which enables Singapore startups to explore business and urban development opportunities across Japan's Osaka and Tokyo regions.
Lim notes that this partnership also supports Japanese startups keen to enter the Singapore market.
Patrick Lim, CEO of ACE.SG, notes that startups are 'increasingly looking at internationalisation earlier in their development and even in the seed stage'. PHOTO: ACE.SG
Markets of opportunity
EnterpriseSG has observed interest across a spectrum of markets, each offering distinct advantages depending on the industry and business stage. 'South-east Asia remains a key destination market for SMEs due to proximity and familiarity,' says Yeoh.
Beyond traditional sectors such as infrastructure and manufacturing, she also points to a growing emphasis on sustainability, which has created new demand in the green economy.
One example is Barghest Building Performance (bbp), a Singapore energy-efficiency solutions provider. After being connected by EnterpriseSG to Thai conglomerate WHA Group, bbp deployed its proprietary optimisation system across WHA's industrial estates, enabling up to 40 per cent energy savings for tenants, besides also supporting WHA Group's net-zero goals.
Meanwhile, SMEs and startups alike are exploring South Asia, the Middle East, and Africa for diversification and early-mover advantage. EnterpriseSG has facilitated projects in India's semiconductor ecosystem, helping Cleantech Services and Specmax Technologies gain a foothold by connecting them with in-market partners.
For innovation-heavy sectors such as biomedical sciences and artificial intelligence, developed markets remain highly attractive.
'The US and UK continue to be key reference markets for companies in the technology and innovation space,' Yeoh says.
And in the biomedical space, EnterpriseSG partnered the Mayo Clinic Innovation Exchange to support Singaporean firms such as Lucence and Biobot in their US expansion. These companies are helping advance healthcare outcomes through precision medicine and robotics.
ACE.SG also sees robust interest in the US, particularly for startups targeting venture capital, corporate partnerships or innovation-driven growth. Lim shares that other markets gaining traction include Japan, Taiwan, Hong Kong and Australia, 'owing to their proactive efforts in attracting foreign startups and the many similarities between our markets and consumer preferences'.
ASME, meanwhile, notes growing interest in Johor Bahru as a near-market base. Malaysia offers proximity and affordability, Ang says, while Vietnam is becoming a viable target in sectors such as education and property development.
'The US remains the most appealing buyer market in terms of margins, but as companies look to de-risk, interest is growing in Europe and Australia/New Zealand,' he adds.
Support ecosystem
Singapore's internationally oriented SMEs and startups benefit from a robust, well-integrated support ecosystem.
EnterpriseSG provides end-to-end assistance through its GlobalConnect programme, which includes market advisory, business matching, immersion trips, and strategic partner introductions. SMEs looking to defray expansion costs can tap financial schemes such as the Enterprise Development Grant (EDG) and the Market Readiness Assistance (MRA) scheme.
To complement this, EnterpriseSG also collaborates with trade associations and chambers (TACs), including the Singapore Business Federation and Singapore Chinese Chamber of Commerce & Industry. With the former, EnterpriseSG launched the Centre for Future of Trade and Investment (CFOTI) to offer deeper advisory on free-trade agreements, as well as seminars that cover how to navigate evolving US tariffs.
ASME, meanwhile, supports internationalising SMEs through its involvement in the Local Enterprise and Association Development programme, which helps TACs strengthen capabilities to assist member companies.
'(We) also support internationalising SMEs by sharing success stories, encouraging collaboration, strengthening links with overseas counterparts, and exploring business matching and consortium-building,' says Ang.
He adds that the association also complements government agencies such as EnterpriseSG by offering ground-level feedback and working closely with them to support SME-focused initiatives.
ACE.SG's role is highly tailored to startup needs. Besides outbound missions and ecosystem access, it provides support in partner matchmaking, market discovery and innovation funding.
Lim believes mindset remains a core success factor, and advises that startups must have patience and commitment. 'Startups will need to do their homework to understand the cultural and business norms in each market and identify the relevant entry strategies and partners to support their plans,' he says.
'Ideally, startup founders should spend much time in their market of interest to engage with both partners and potential customers there... (They) need to follow up and build relationships to establish meaningful collaborations to expand.'
Road to global growth
Despite the robust ecosystem, successful internationalisation rarely happens overnight. It requires sustained effort, agility and a willingness to evolve.
To exemplify what SMEs can achieve with the right mix of adaptability, ambition and ecosystem support, Ang cites two examples: Kskin, an express facial chain that has expanded into more than 12 countries within just three years; and Epitex, a bedding and home accessories brand that has gone regional since 2020.
'To succeed internationally, SMEs need to build global exposure, form support structures with synergistic peers, remain open to restructuring their business models, and understand various approaches to internationalisation,' he stresses. 'These capabilities are often key to long-term success.'
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Moving forward, we're not looking to add more steps but to explore smarter support, whether through ingestibles, education or creating intentional moments of rest. If it aligns with our values—science-led, effective and genuinely useful—we're open. Courtesy of Tatler Asia 6 / 11 Jungmin Lee, founder and CEO of Ksisters The stereotypical Korean skincare routine is famed for its integration of multiple steps—as much as 10. However, such sensibilities don't always translate well to our humid climates here in Singapore. Recognising this gap inspired Jungmin Lee to found retailer Ksisters and her own line Jung Beauty, adapting the renowned efficacy and aesthetics of K-beauty in a way that makes sense for Singaporeans. How did you get your start in the skincare industry? What was it about this field that first drew you in? My journey started from a very personal place—as a Korean mother living in Singapore, I quickly realised that the typical Korean 10-step skincare routine just didn't fit the humid, tropical climate here. This sparked the idea of curating products that are not only effective but also practical and tailored for Southeast Asian skin needs. That led to the birth of Ksisters. Over time, my passion for skincare evolved into product innovation, and I launched our in-house label Jung Beauty, which reflects my own belief in simple, effective, and clinically backed beauty. The beauty industry is rapidly changing every day. How would you say you've been adapting to keep your craft and business acumen relevant? Adaptability is in our DNA. At Ksisters, we're constantly listening to our community —their skin struggles, lifestyle shifts and aspirations—and using that insight to refine what we offer. For instance, we've introduced oral sun care, microbiome-focused products, and now even home aesthetic treatments. I also stay very close to what's trending in Korea, while making sure it fits the local context. On the business side, we've expanded from a pure e-commerce model to now include physical retail, and we're entering regional markets like Malaysia. That balance between community, science and speed keeps us agile. What are the ways you hope to see your industry develop and change over the next few years? When I first started Ksisters, K-beauty was still a very niche category—definitely not mainstream. But over the past few years, it has evolved tremendously and is now actively changing the rules of the global beauty industry. One of the most exciting shifts I've seen is how K-beauty has expanded beyond just 'Made in Korea' brands. We now see powerful success stories like Glow Recipe, Peach & Lily, and Yepoda—brands that are rooted in K-beauty philosophy but are localised to their own markets. This kind of cultural evolution is incredibly inspiring. In the coming years, I hope to build on this momentum and [continue creating] Jung Beauty as a strong, Singapore-based brand that's inspired by K-beauty but speaks directly to Southeast Asian needs. With my deep network in Korea's beauty ecosystem, strong understanding of our local climate and customer lifestyle, and the support of Ksistersfam (our community's nickname) and my talented team, I truly believe we can reshape the beauty landscape from here. Walk us through an upcoming project or product launch from Ksisters that you're excited about. I'm so excited about our August launch of the Jung Beauty CO₂ Pore Deep Cleansing Mask and Pore Minimising Ampoule. It's our upgraded two-step home aesthetic solution inspired by professional clinic treatments in Korea, designed for clearer, smoother skin—especially in Singapore's hot, humid weather where pore concerns are very real. The mask uses a dry sheet soaked in citric acid paired with an alkali gel that creates a carbonic acid reaction, triggering the Bohr effect to deeply detox pores and oxygenate the skin. After cleansing, our upgraded triple-action ampoule calms, tightens and hydrates with clinically proven results: pore volume is reduced by nearly 37% and redness by over 26% in just two weeks. We're especially proud of how this product takes the complexity of aesthetic skincare and delivers it in a convenient, at-home format. It's our most results-driven innovation yet and truly reflects our inside-out approach to skincare. Is there another sector (e.g. wellness) within the beauty space that you hope Ksisters is able to expand into? If yes, what is it and why? Yes—wellness is already a key part of our journey, and we're just getting started. One exciting milestone for us was the launch of Returnity Ear Therapy, a TCM-inspired ear seed patch that was the best-seller in Olive Young's accessories category. It combines traditional meridian point therapy with a beautiful, aesthetic presentation, and it became a big success here in Singapore too. We also introduced By Ava's Hormonal Balancing Elixir Tea, which was very well received by our community for supporting women's wellness in a more holistic, natural way. Moving forward, I want to continue launching modern Korean beauty and wellness brands—products that respect our region's traditions but present them in a way that feels relevant and beautiful to today's consumer. I'm also dreaming bigger: we hope to expand into services like facials and massage therapy, working with highly skilled K-beauty professionals from Korea. Eventually, I want to build Ksisters into a strong K-beauty lifestyle platform that not only offers products but also immersive wellness experiences rooted in Korean skincare and Asian beauty philosophy. Until we get there, we'll keep working hard, step by step. Courtesy of Hazel Yeo 7 / 11 Hazel Yeo, founder of Jing Botanics Hazel Yeo was inspired to found clean haircare brand Jing Botanics, which integrates scalp science with the ancient wisdom of Traditional Chinese Medicine (TCM), due to her own experience of postpartum hair loss. Struggling to find a solution that she felt supported 'healing from within', the vision for Jing Botanics was born. How did you get your start in the scalp and hair industry? What was it about this field that first drew you in? My journey into scalp and hair care began from a deeply personal place. After giving birth, I experienced postpartum hair loss that felt both physical and emotional. I struggled to find products that felt safe, effective and aligned with what my body actually needed. Most were either too clinical or filled with noise. What drew me in was the desire for something more rooted—something that supported healing from within. As a mother of three (soon four!), even the smallest ritual of care felt powerful. Jing Botanics was born from that: to restore a sense of calm, rooted beauty, and a quiet return to strength. The beauty industry is rapidly changing every day. How would you say you've been adapting to keep your craft and skills relevant? To me, relevance isn't about chasing trends. It's about staying grounded in our purpose. That means listening to our community, understanding what they're going through, and building products that truly support them. We stay close to the latest science and innovation, but we also honour the wisdom of tradition. It's exciting to see how the industry is evolving, especially in how modern formulations and traditional practices are beginning to coexist. At Jing Botanics, we're always exploring meaningful ways to bring those two worlds together. What are the ways you hope to see your industry develop and change over the next few years? I hope we move beyond the quick-fix mentality and toward deeper education around long-term scalp and hair health. For anyone navigating periods of stress, hormonal shifts or recovery—there's so much more we can do to support holistic wellbeing. I also hope to see more recognition and respect for heritage-based beauty systems, especially from Asian traditions. These practices have always held wisdom. It's time the industry made space for them. Walk us through an upcoming project or product launch from Jing Botanics. We're about to launch our first-ever hairbrush, a dual-purpose tool designed to detangle without breakage, while gently stimulating the scalp to support healthy follicles. It's something we've been developing for months and we can't wait to share it! We're also developing a conditioner treatment to complete our core ritual—something deeply nourishing and aligned with our scalp-first, ritual-led philosophy. And that's just the beginning, there's so much more to come. View this post on Instagram A post shared by Jing Botanics (@jingbotanics) Is there another sector within the beauty space that you hope Jing Botanics is able to expand into? If yes, what is it and why? Absolutely. We've always envisioned Jing Botanics as more than just a scalp care brand—it's a next-generation wellness brand. While we started at the root (literally), we definitely see ourselves branching out into other areas of personal care. Body care feels like a natural next step, and we've already started conceptualising what that could look like. Skincare is also central to what we do—after all, the scalp is skin too. But we're not here to launch products just for the sake of it. Everything we create will be intentional, thoughtful, and shaped by what our community genuinely wants and needs. Courtesy of Leonica Kei 8 / 11 Leonica Kei, trichologist and founder of Leonica K Trichology For trichologist Leonica Kei, ending up in the field of hair care and scalp health happened completely 'by chance'. Pursuing her studies in trichology after initially focusing on business management, looking for answers to hair care issues grounded in scientific evidence and depth led to the founding of her own hair treatment centre to address these problems: Leonica K Trichology. How did you get your start in the scalp and hair industry? What was it about this field that first drew you in? It all started by chance. I was studying business management in the UK back in 1985 when I came across a full-time course in trichology. After returning to Singapore, I worked as a trainer for a haircare company, but I often found the information presented to me biased and lacking depth. That pushed me to pursue formal studies in trichology—I wanted real, science-backed answers about hair and scalp health. In 1997, I founded my own treatment centre, and I've never looked back since. It's been a deeply rewarding journey. The beauty industry is rapidly changing every day. How would you say you've been adapting to keep your craft and skills relevant? Having been in the industry for nearly 30 years, I've witnessed tremendous shifts—especially with the rise of social media. The pace is relentless. There are now countless opinions and quick-fix solutions being circulated, many of which aren't sustainable or healthy for the scalp in the long run. To stay relevant, I've had to embrace these platforms and learn how to communicate my expertise in new ways. It's a constant balancing act between staying visible and staying true to our holistic, results-driven approach. As a practicing trichologist, I believe that our commitment to long-term scalp and hair health will always resonate with those seeking real solutions. It's a work in progress, but an important one. What are the ways you hope to see your industry develop and change over the next few years? It's difficult to predict how consumer behaviour will evolve—COVID certainly reminded us of that. What I do hope for is a shift towards more education, transparency and long-term care in the hair and scalp space. Trends will come and go, but health and science should always remain at the core. As professionals, we need to stay connected, adaptable, and focused on what truly helps people. Walk us through an upcoming project or treatment you're particularly proud of at Leonica K Trichology. We're in the final stages of launching a new range of at-home scalp care products. These are formulated with the same level of efficacy and quality as our in-salon treatments, designed for clients who may not be able to visit regularly—whether they're travelling or living overseas. It's something we've been working on for a while, and I'm excited to finally make professional-grade scalp treatments more accessible. It's about extending care beyond the clinic and empowering people to take charge of their scalp health, wherever they are. Courtesy of Amander 9 / 11 Candice Goh, founder of Sol House In the midst of a career pause, Candice Goh found herself listening to her body. She then discovered Ayurveda and its bodywork, soon after deepening her knowledge during a trip to Bali. With the support of a wellness studio, what began as a side hustle quickly became one of the most transformative chapters of her life. During the 200-hour course of her yoga teacher training, she came across somatics, a guiding approach that would ultimately lead her entrepreneurial venture: Sol House. What was it about this field that drew you in? The concept of relating to the body as a living, intelligent system resonated deeply. It felt like learning a new language—one that translated ancient wisdom into modern understanding. I've often found that Ayurveda, yoga, somatics and even traditional Chinese medicine (TCM) speak to the same truths, just with different vocabularies. These overlaps affirm for me that this wisdom has always existed. Somatics simply offered a way to articulate that wisdom in a contemporary context. Studying somatics has also refined my skill set as a bodyworker. It taught me to attune more sensitively to the subtle cues of the body, to listen for what's not being said, and to translate these insights into healing touch that meets each person where they are. As I became more aware of how fragmented our modern health systems can be, I also began to see the true potential of alternative therapies—to invite us back into our bodies; to empower us to lean in, listen deeply and rebuild trust from within. In Singapore, practices like Ayurveda are still emerging, and there's immense room for education, growth and meaningful innovation. That excites me and motivates me to keep going. Tell us about the beginnings of Sol House and how you feel it has grown since then. What was the purpose of it and do you think it has attained what it set out to be? Sol House began quietly and organically. At the time, I still held a full-time job, which gave me the freedom to explore entrepreneurship without the pressure of financial survival. I saw it as a personal experiment—an invitation to grow into myself as a practitioner and space-holder. From the start, I was clear that Sol House would be rooted in education, not in the conventional sense, but in a more intuitive, creative way. I always saw bodywork as more than a treatment; it was a way to meet people where they were. The conversations that unfolded before and after sessions became sacred moments—opportunities to connect, share insights and plant seeds of curiosity. As people began asking more about Ayurveda, what started as bodywork sessions evolved into workshops, immersions, and eventually a deeper community of learners and seekers. We've never grown in massive numbers, but we've grown in depth. Relationships, trust and word of mouth have been our strongest foundations. Five years in, I see Sol House entering a new chapter. The industry is shifting and so are the needs of the people we serve. There's a hunger now for more meaningful, embodied learning—something beyond quick fixes or aesthetic wellness. I believe we're poised to meet that shift with integrity and care. So yes, I think Sol House has lived up to its purpose—and it continues to evolve. It's still a work in progress, just like all of us. What's the biggest lesson you've learnt throughout this process? That support is essential—and asking for it is not a weakness, but a form of growth. For a long time, I believed I had to do everything on my own. But running a business, holding space for others and staying committed to your own growth—it's a lot. I've learned that it's not only okay to delegate, outsource or lean on others—it's necessary for longevity and sustainability. Support doesn't always come in the form of a team or finances. Sometimes it's a conversation, a listening ear or the courage to say, 'I don't know how to do this.' That vulnerability has been one of my biggest teachers. The wellness industry is rapidly changing every day. How would you say you've been adapting to keep your craft and skills relevant? Honestly, I don't try to keep up with the pace of changes. These trends come and go. Instead, I choose to stay grounded in the practices that have stood the test of time—Ayurveda and yoga. There is an infinite well of learning in these traditions. Each time I return to them, I discover something new. What helps me stay attuned is staying close to my community. I pay attention to the seasons of life my clients are in, and I often find myself walking a similar path. When I shift, they often do too. That shared evolution keeps the work fresh and relevant. Relevance to me isn't about novelty—it's about resonance. When your work continues to resonate with people's lived experiences, it remains meaningful. What do you think the wellness scene in Singapore could use more of? Accessibility, in every sense of the word. Wellness needs to move beyond being a luxury or something aspirational. It should feel welcoming, not intimidating. That means creating spaces that are inclusive, pricing that's fair, and language that's relatable. I'd also love to see wellness reframed—not as a product to buy, but as a way of living. One that's simple, honest and rooted in everyday choices. We don't need more trends; we need more spaces where people feel seen, heard and supported. Courtesy of Within 10 / 11 Betty Kong, founder of Within 18 years in the industry and Betty Kong can safely say she's just getting started. Her journey into fitness and Pilates started organically, by way of first being drawn to movement through yoga where she found healing and self-discovery. From there, she went on to explore other modalities like Pilates and was especially drawn to the latter's mind-body connection, the intentionality of each movement, and how it builds both strength and awareness. Now, the legacy Lululemon ambassador is a proud owner of Pilates and yoga studio Within. She also recently welcomed a studio in partnership with Lululemon at its brand new Ngee Ann City store—marking the first hybrid venture in Southeast Asia. Tell us about Within and what the brand means to you. Within is the most personal project I've ever created. It's a space that reflects where I am in my own journey, after years of teaching and growing in the wellness industry. I wanted to build something slower, more intentional, and rooted in inner transformation—not just movement. Setting up the business came with its challenges, but it also gave me the opportunity to clarify my values and bring to life a space that feels inclusive and supportive for anyone looking to reconnect with themselves. This led me to see how these practices could help people feel more at home in their bodies and feel more empowered when they are more present. That's what keeps me in this work—the ability to hold space for others on their own path toward balance and transformation. Congratulations on the opening of two studios in less than a year, including a partnership with Lululemon. How did that come about? What were the main grounding principles when collaborating with such a huge brand? Thank you for the kind words, it's been an incredible and humbling year. Opening two studios in under 12 months, including this collaboration with Lululemon, has been a deeply meaningful milestone. The partnership came about very naturally. My journey with Lululemon began over a decade ago as a store ambassador in Vancouver, and when I moved to Singapore, I became one of the first Lululemon ambassadors at their Takashimaya store. Now, years later, to be partnering with Lululemon again—and once more as an ambassador for this very location—feels like a full circle moment. As a small business owner, partnering with a global brand could easily feel overwhelming, but with Lululemon, it's never felt like that. From the very beginning, the collaboration was rooted in authenticity and alignment. It was important for me that I was really clear about what Within stands for, and about wanting to create spaces which are inclusive and built on real human connections. What made this partnership work is that Lululemon wasn't looking to take over. They were looking to co-create. That gave me space to bring my vision to life, as for me, that's what true collaboration looks like. The two brands meet as equals while we're aligned in purpose, and we're committed to creating something meaningful for the community. The wellness industry is rapidly changing everyday. How would you say you've been adapting to keep your craft and skills relevant? The wellness industry is constantly evolving and I see that as a gift. It challenges us to stay open, keep learning and continually reflect on how we're showing up in our work and our communities. For me, staying relevant isn't about chasing trends. It's about staying connected—to myself and the people I serve through Within. I make it a point to keep learning, whether that's through continued mentorship or simply being present in the studio and listening. Wellness is not one-size-fits-all, and evolving with intention is key. Right now, I'm in the process of completing a double postgraduate diploma in psychology, with a focus on psychotherapy, childhood psychology and interventions. This isn't about becoming an expert. It is about deepening my understanding of myself as a person and a teacher. My background in psychology has helped me better navigate my internal landscape, which directly informs how I lead and connect with my community. I'm especially excited to weave more of that psychological awareness into Within as we continue to grow. What are the ways you hope to see your industry develop and change over the next five years? In the next five years, I'd love to see the wellness industry become far more inclusive, accessible and intentional. For too long it's been shaped by narrow ideals tied to privilege and perfection, which can make people feel like they don't belong. I hope we continue shifting away from the idea that wellness is something you have to earn, or that one needs to 'look' a certain way to access. Instead it should be about meeting people where they are and offering spaces that feel welcoming, safe and supportive for everybody and every background. I also hope the industry leans into more sustainable and meaningful practices, moving away from trend-driven quick fixes and toward deeper, more transformative experiences. Wellness should be something that helps people reconnect with themselves, not something that adds more pressure to 'perform' a lifestyle. As someone who's continually evolving through my own work—both as a studio founder and through my studies in psychology—I believe the future of wellness lies in self-awareness and genuine human connection. Courtesy of Anna Haotano 11 / 11 Anna Haotano, founder of Zora Health After experiencing a string of health issues and scares that began from her early 20s, from a PCOS diagnosis to a relapse of Bell's Palsy and signs of possible early menopause, Anna Haotano made the decision to freeze her eggs. During the process, she was shocked by how difficult the entire process was, and soon found out her experience was something hundreds of women in Singapore was going through. A systematic problem in fertility care in Singapore, that Zora seeks to abate. Tell us about the beginnings of Zora and how it has evolved over the years. Zora started with one goal: to make fertility care less lonely and less confusing. At first, it was about helping women get clear answers on egg freezing, IVF and testing. But quickly, it became clear that the gaps were bigger than fertility. Women were asking about perimenopause, PCOS, workplace support, miscarriage, men's reproductive health—all the things no one talks about openly. So Zora evolved into something larger: a comprehensive ecosystem for reproductive and hormonal health. We now offer digital education, expert care navigation and diagnostics. We're also partnering with corporations and insurers to make these benefits accessible at scale. What began as a personal mission is becoming a movement to bring better care and dignity to people across Asia. Thanks to platforms like Zora, fertility care in Singapore is getting its own voice. How has that fulfilled you? It's deeply meaningful for me. For so long, fertility has been treated like a private struggle—something to endure quietly, often in shame or confusion. Seeing women speak up, ask questions and advocate for themselves is powerful. When someone tells me, 'I felt less alone because of Zora,' or 'I finally made a decision I feel good about,' that's everything to the team. The women's health industry is rapidly changing every day. How would you say you've been adapting to keep your craft and skills relevant? By listening to our community and users and staying obsessed with data. I stay close to our community and we listen relentlessly—their stories, their pain points, their hopes—and let that guide where we go next. We use that feedback to adapt fast, whether that means building digital products, partnering with new providers or expanding into corporate care. I'm constantly learning from experts in medicine, policy and technology to make sure Zora stays ahead. This space changes fast and I see it as a privilege to be learning and building in real time. I've learned to stay nimble, to test and adapt quickly, and to never lose sight of the people we're here to serve. What are the ways you hope to see your fertility care develop and change over the next five years? I want fertility care to be proactive, not reactive. Too often, people only seek help when something is not right. Or we want to fix issues. We need to start earlier—with education, prevention and real planning. I also want to see fertility support fully integrated into health benefits and insurance across Asia—as normal and expected as dental or maternity coverage. And most importantly, I want the conversation to evolve beyond just women. Fertility is a shared issue. We need to make it inclusive of all genders and family types—and do it in a way that respects cultural nuance while pushing for progress. If in five years, people can make decisions about their reproductive health with clarity, dignity and support, then I'll feel like we've done our job.
Business Times
5 hours ago
- Business Times
Home-grown brands dominate winners of EY Entrepreneur Of The Year 2025 Singapore awards
[SINGAPORE] Professional services firm EY has named four leaders as category winners for the annual EY Entrepreneur Of The Year 2025 Singapore awards. In its 24th run since it began in 2002, this year's awards feature winners from 'home-grown brands that have thrived through times of change and economic uncertainties', said Lee Chuan Teck, executive chairman of Enterprise Singapore. Lee was the chair of this year's judging panel. This year's category winners are: Patrick Cheo, chief executive of Adam Khoo Learning Technologies Group – in the education services category. Chin Wei Jia, group CEO of HMI Medical – in the healthcare segment. Kelvin Lim, executive director and group managing director of LHN Group – in the real estate category. Carolyn Choo, CEO and managing director of Worldwide Hotels – in the hospitality services category. EY said on Thursday (Aug 7) that the winners were selected from a pool of more than 50 nominations by an independent judging panel, based on four globally benchmarked criteria of entrepreneurial spirit, growth, purpose and impact. One of the winners will be named EY Entrepreneur Of The Year 2025 Singapore, and represent Singapore at the annual EY World Entrepreneur Of The Year (WEOY) award in 2026 to compete with contenders from over 40 countries and jurisdictions. Singapore's representative to the WEOY award will be announced at the EY EOY Awards Gala on Oct 17. Minister for National Development Chee Hong Tat will be the guest of honour at the gala. GET BT IN YOUR INBOX DAILY Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up VIEW ALL Enterprise Singapore's Lee lauded the winners for 'exceptional entrepreneurial grit, innovation and resilience in not just overcoming challenges, but transforming their businesses through decisive strategies and seizing breakthrough opportunities'. 'In doing so, they are helping to shape and elevate their respective industries, and creating broader socioeconomic impact through contributing back to the community, underpinned by a strong sense of purpose,' he added. Liew Nam Soon, EY Asean regional managing partner and Singapore and Brunei managing partner, said the winners' 'combined history of over 120 years in Singapore' speaks to the 'socioeconomic role that entrepreneurs play in job creation, industry innovation and quality of life'. Two other honorary awards will be conferred for Asean entrepreneurial excellence and family enterprise excellence. HMI Medical – an integrated healthcare group with more than 25 years of experience across Singapore, Malaysia and Indonesia – is the winner of this year's EY-Bank of Singapore Family Enterprise Award of Excellence. The award is independent of the Entrepreneur Of The Year programme and judging process. The winner was jointly selected by knowledge partners, Business Families Institute @ Singapore Management University and the Insead Wendel International Centre for Family Enterprise. Thai Huong, the founder and chairwoman of strategic council of TH Group Joint Stock Company, an operator of several food and beverage projects in Vietnam, is the winner of this year's EY-Bank of Singapore Asean Entrepreneurial Excellence award. The award recognises successful South-east Asian businesses that contribute to the region's economy and community. Its recipient does not compete for the EOY Singapore 2025 title.
