| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 Asia Economy


How to use our RSS feed

Follow Finfacts on Twitter

Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.


Finfacts is Ireland's leading business information site and you are in its business news section.


Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News


Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News




Content Management by interactivetools.com.

News : Innovation Last Updated: Jun 8, 2011 - 7:35 AM

Olivia Lum of Singapore is World Entrepreneur of the Year 2011; First woman to win in 11th year of Ernst & Young competition
By Finfacts Team
Jun 7, 2011 - 10:37 AM

Email this article
 Printer friendly page

Olivia Lum, Group CEO and president of Hyflux Limited, from Singapore, was named the Ernst & Young World Entrepreneur of the year 2011 on Sunday, at an awards ceremony held in Monte Carlo's Salle des Etoiles. She was the first woman to win the award in 11th year of the competition.

Lum was picked from among the 49 country finalists vying for the title, each of whom had already been named the Ernst & Young Entrepreneur of the Year in their home countries. This year saw more female finalists - six in total - than ever before.

Brian Conlon, CEO of Newry-based software firm, First Derivatives, represented Ireland.

Olivia Lum founded Hyflux in 1989 with two staff and start-up capital of $US15,000. Today, Hyflux has become one of the world's leading desalination suppliers. It is publicly traded with revenues of US$450m, employing more than 2,300 people in operations and projects in Southeast Asia, China, India, the Middle East and North Africa.

Tan Sri Francis Yeoh Sock Ping, managing director of Malaysia's YTL group of companies and chairman of the judging panel said, "Olivia's entrepreneurial spirit and the immense social and health benefits her work brings make her an exceptional winner of the award."

"I'm very happy to accept this award on behalf of all the employees at Hyflux. For me, this reinforces there are no difficulties you can't overcome when you have faced the challenges of hunger and poverty," said Olivia Lum. "It is a great honour to have been selected from among such a fantastic group of entrepreneurs."

Olivia Lum added: "A successful journey is not one that is taken alone. I am thankful for the many 'angels' along the way who supported and guided me.

"I would also like to acknowledge the contributions of all my board members and all my staff. Without their support, hard work and belief in Hyflux, I would not have been able to achieve this success. I share this award with them."

She also hoped that her win would inspire more women entrepreneurs to participate in the annual competition, saying: "Until then, I will hold on to the title of 'The Prettiest World Entrepreneur of the Year.'"

"As the first female World Entrepreneur of the Year, Olivia is a wonderful role model for entrepreneurs and for women across Asia and the world. This can only accelerate the growing global trend of more and more women building great businesses," said Maria Pinelli, Ernst & Young's global vice chair for Strategic Growth Markets.

Jim Turley, global chairman and CEO of Ernst & Young said, "This year marks a quarter of a century since the very first Entrepreneur Of The Year award, which took place in a single US city in 1986. Over the past 25 years, entrepreneurs have done more than any other group to stimulate innovation, job creation and prosperity during both periods of growth and in challenging economic conditions. Olivia demonstrates the vision and determination that set entrepreneurs apart and is very worthy of the title Ernst & Young World Entrepreneur of the Year 2011."

SEE: Video interviews

Related Articles
Related Articles

© Copyright 2011 by Finfacts.com

Top of Page

Latest Headlines
Digital Taylorism: Amazon's chief rejects depiction of "soulless, dystopian workplace"
Most surviving startups do not grow; Tiny number powers jobs engine
Despite euro dip China & US remain most competitive manufacturing nations
Business startup rates up in most OECD countries led by Australia and UK
NASA's Kepler mission has confirmed the first near-Earth-size planet
Energy subsidies at 6.5% of global GDP; Commodity prices to remain weak
US startups rely on personal savings, debt; Venture capital funds less than 1%
Europe produces 13 $1bn+ "unicorn" startups in one year; London is Europe's digital capital
Irish-based firms raised €120m in VC funding in Q1 2015; Some top recipients Irish for tax purposes
Ireland: Fourth highest 25-34 year old ratio of third-level graduates in developed world: So what?
Business dynamism/ employer firm startups in US secular decline
Innovation Union Scoreboard 2015: Sweden, Denmark, Finland and Germany are on top
Education systems failing to provide students with skills for success in 21st century
US, Switzerland, Denmark, Sweden, Finland have best higher education systems
Handbook of Service Innovation: Ireland moving up the value chain?
Switzerland revives silk industry that thrived for two centuries
Sales of Irish tech firms create 300 millionaires in 15 years and no scaleups
Apple warns of 'material' tax payments from EU's Irish tax investigation
Apple earnings surge 33% on higher price and iPhone sales jump in China
Big Pharma's internationalisation of R&D to China
The dangers of romanticising entrepreneurs despite key role
UK and Irish business R&D heavily reliant on foreign-owned firms
Silicon Valley and the development of the silicon microchip - Part 2
Ireland: Innovation with or without R&D/ scientific breakthroughs
UK government most open/ transparent in world; Ireland & Greece lowest ranking in Europe
10 questions about Switzerland's Solar Impulse aircraft – answered
Silicon Valley loses its silicon; Typical household income stagnates - Part 1
21st century skills are 18 century skills + a computer
Growing ICT sector in Europe accounts for 5% of employment
Should Ireland copy Singapore's scientific research investment plan?
Startups vs Scaleups: 4% of UK startups have 10+ employees 10 years later
Irish patent filings at European Patent Office fell in 2014
Facebook's maze of privacy settings maybe in breach of European law
Apple to invest €1.7bn in Irish and Danish data centres
Silicon Valley insider warns of dodgy $1bn valuations of private companies
Israel's Startup Nation not a jobs engine; Nor is Irish high tech
Established industries often beat new technology investment returns
Ireland: Noonan said EU to drop Apple tax case; Now expects court case
Irish R&D Tax Credit: No evidence of rising business innovation; Facts don't matter
Apple reports biggest profit of a public company in history