2024 FedEx Express/JA Asia Pacific International Trade Challenge: A Celebration of Innovation and Collaboration

August 26, 2024

JA Asia Pacific held the 18th-annual FedEx Express/JA International Trade Challenge (ITC) in Singapore this month, the first in-person edition of the event since 2019. The ITC nurtures the entrepreneurial spirit and business skills for JA students around the JA Asia Pacific region. During the event, student, working in pairs of two, create a market entry strategy for a product and target market.

Each year, more than 2,700 aspiring young entrepreneurs participate in local ITC workshops across 10 markets over a period of eight months. The finalists from those competition attend the regional competition. Since its debut in 2007, the ITC has grown into a prestigious regional competition, attracting participants from various countries. The 2024 edition continued this legacy, with over 4,500 students from 10 markets participating in the challenge.

This year, 60 finalists from Hong Kong SAR–China, India, Indonesia, Japan, Republic of Korea, Malaysia, Philippines, Singapore, Thailand, and Vietnam participated in the competition. Over three days, students attended activities designed to inspire and educate, including expert-led workshops that provided valuable insights into market strategies, sustainability, and entrepreneurship. They also participated in networking sessions, where they mingled with peers, mentors, and professionals. The competition format encourages cross-cultural collaboration and the exchange of diverse ideas. All 60 students were sorted into teams of two, partnering with participants from other countries who may not speak the same language.

The Challenge: Innovating for a Circular Economy

This year’s theme focused on creating a market entry strategy for a product that contributes to a circular economy, specifically targeting the Turkish market. The challenge tasked each team with developing innovative solutions that could make a real impact.

Participants presented their ideas to a panel of judges, receiving constructive feedback and guidance. The competition was fierce, but in the end, Team CJ, consisting of Cheryl Lim Xin Yi from Singapore and Julia Jasmine Binti Jufri from Malaysia, took home the first prize. Their innovative biofilm made from seaweed impressed the judges with its potential to revolutionize packaging in a sustainable way.

Second-place winner Circuvate from Wesley Ng Yu De of Signapore, envisioned Free Tabak, which promotes the use of biodegradable plates for public event spaces like football stadiums. Third-place winners ONE created Eco-kilim, an eco-conscious reinterpretation of traditional Turkish kilim made from bread waste and vegetable waste.

For the participants, the ITC was more than just a competition; it was a transformative experience. Regardless of ranking, all ITC participants gained invaluable skills, including teamwork, problem-solving, public speaking, and marketing analysis. They also showcased creativity and strategic thinking, as well as cross-cultural cooperation.