Xero, a global platform for small businesses, has announced 28 winners for its 2024 Beautiful Business Fund, each receiving part of a SG$630,000 prize pool. The fund recognizes innovative businesses and non-profits across Singapore, Australia, Canada, New Zealand, South Africa, the UK, and the US, selected based on how they would use the funding to advance their goals.
The fund is structured to spotlight four areas: environmental sustainability, technological advancement, community connection, and workforce upskilling. Each winner will receive SG$15,000, while four selected global winners will receive an additional SG$40,000.
Singapore Winners: Innovation and Community Connection
In Singapore, four winners represent the fund’s vision of transformative small business impact:
- Environmental Sustainability: Seven Clean Seas, an organization aiming to remove 10 million kilograms of plastic waste from oceans by 2025, plans to use the grant to purchase cleaning equipment. “This will enable us to recycle far more plastic than before,” said Tom Peacock-Nazil, CEO of Seven Clean Seas.
- Technology: Tack One, a company pioneering flood monitoring technology, will use the funding to increase the reach of its palm-sized FloodFinder device. “This funding will critically enable us to amplify our production efforts,” said co-founder Justin Zhang.
- Community Connection: Social enterprise Foreword Coffee will invest the grant in their training center, aiming to enhance employment opportunities for people with disabilities. “The fund gives us a much needed capital boost,” shared co-founder Nadi Chan.
- Upskilling for Growth: Two Men Bagel House, a popular local eatery with expansion plans, will use the prize to upskill staff as they prepare for international markets. “It takes time to build your reputation and recognition,” said co-owner Clement Fu.
Xero CEO Sukhinder Singh Cassidy highlighted the winners’ role in strengthening communities and driving innovation, stating, “Your passion, ambition, and commitment to your communities truly embodies the spirit of what the fund is all about.”
Koren Wines, Managing Director of Xero Asia, echoed this sentiment, noting the resilience and ingenuity of Singapore’s small businesses in a competitive market. Wines remarked, “We created the Xero Beautiful Business Community and Fund to continue to meaningfully support Singapore’s small businesses and facilitate their growth.”
