Media Resouces
Fostering Entrepreneurship through Inaugural River Hongbao Hackathon Sponsored by Mapletree
05 Dec 2018
    Youths will get the opportunity to come up with business ideas for River Hongbao 2019, pit them against other teams in a hackathon, to get the chance and seed money to turn their business dreams into reality.

SINGAPORE – For the first time in River Hongbao’s 33-year history, youths who emerge top in an entrepreneurship competition – River Hongbao Hackathon (RHBHacks) - will get to sell their wares or services during the River Hongbao event in February 2019, which typically attracts more than 1 million visitors during its run.

RHBHacks targets the youths, aged 18 to 26 years old in tertiary institutions in Singapore. They can form teams of between two to five people, and will be mentored by retail expert from Mapletree Investments Pte Ltd (Mapletree), a leading real estate development, investment, capital and property management company headquartered in Singapore. RHBHacks is organised by the River Hongbao organizing committee and sponsored by Mapletree.

The first event to kick off RHBHacks was an Information Session held at Mapletree Business City Town Hall on 20th November, which was attended by students and staff from the universities and polytechnics.

 

At Mentorship Workshop by Mapletree retail expert for tertiary students who are interested in participating RHBHacks.

 

Interaction at Mentorship Workshop

The RHBHacks Challenge will be on 3-4 January 2019, and the shortlisted teams would present their business ideas. The top three teams will each receive Cash Prize of $2,000 and Seed Money of $4,800 to implement their ideas and run their stalls at the River Hongbao 2019 – Bicentennial Edition from 3-10 February 2019. Each of the three winning teams will also pledge to contribute 70 percent of profits made to appointed charity organizations, and retain 30 percent of the profits.  

Said Mr Edmund Cheng, Chairman of Mapletree: “We believe in generating positive outcomes in the communities we operate in. The River Hongbao hackathon event will not only empower youths to think out of the box and realize their business ideas, it will go some way in nurturing the spirit of entrepreneurship. We look forward to such first-of-its-kind event, which will hopefully encourage our tertiary students.”

Mr Ang Wei Neng, Chairman of River Hongbao (RHB) 2019 and MP for Jurong GRC added, “Mr Ong Ye Kung, Advisor to River Hongbao and Minister for Education has emphasized the need to incorporate entrepreneurship into the learning experiences of our students. The RHB Hackathon is a perfect platform for the students to hone their entrepreneur skills and put them to the test in an authentic but relatively safe environment.  I dare the tertiary students to take up the real challenge which can be enriching, exciting and enjoyable.”  

RHB Hacks is another unique facet of River Hongbao 2019. While the event is a veteran feature in Singapore’s annual event calendar, having been run since 1986, River Hongbao 2019 dovetails with Singapore’s bicentennial year.

Apart from the hackathon, another first is that it will feature the most spectacular fireworks in its history, choreographed and delivered by award-winning pyrotechnics experts from around the world. Tickets for the fireworks display by these international experts were snapped up online within five hours after its release on 20th October.

Information on RHB Hacks

To register for RHB Hacks, go to www.riverhongbao.sg/hacks/. Submission deadline for business proposals will close on 22nd December 2018.

MEDIA CONTACTS

Mr Alvin Li    
Ms Wong Sher Maine
River Hongbao 2019 Organising Committee (Secretariat)   River Hongbao 2019 Organising Committee (Media Team)
Tel: 6643 6474 / 8113 8083   Tel: 9325 5443
Email: alvin@sfcca.sg   Email: shermaine.wong@gmail.com
   
Ms Grace LEE
 
Mapletree Investments Pte Ltd (Corporate Communications)    
Tel: 6377 6218 / 9750 6482
   
Email: grace.lee@mapletree.com.sg    

 

ABOUT RIVER HONGBAO
As a part of Singapore’s Chinese New Year festivities since 1987, River Hongbao is organised by the Singapore Federation of Chinese Clan Associations, Singapore Press Holdings, the Singapore Chinese Chamber of Commerce and Industry, Singapore Tourism Board and People's Association.

The 2019 edition of River Hongbao will feature spectacular fireworks curated by International renown and award-winning fireworks experts from Australia, China, United States and Italy. Tens of thousands of fireworks tickets on 3, 4, 9 and 10 February 2019 were snapped within hours of making them available on the website and mobile app. For more information, please visit: www.riverhongbao.sg and https://www.facebook.com/riverhongbaosg/. 

ABOUT MAPLETREE

Mapletree is a leading real estate development, investment, capital and property management company headquartered in Singapore. Its strategic focus is to invest in markets and real estate sectors with good growth potential. By combining its key strengths, the Group has established a track record of award-winning projects, and delivers consistent and high returns across real estate asset classes.

Mapletree currently manages four Singapore-listed real estate investment trusts (REITs) and six private equity real estate funds, which hold a diverse portfolio of assets in Asia Pacific, the United Kingdom (UK) and the United States (US).

As at 31 March 2018, Mapletree owns and manages S$46.3 billion of office, retail, logistics, industrial, residential, corporate housing / serviced apartment, and student accommodation properties.

The Group’s assets are located across 12 economies globally, namely Singapore, Australia, China, Germany, Hong Kong SAR, India, Japan, Malaysia, South Korea, the UK, the US and Vietnam. To support its global operations, Mapletree has established an extensive network of offices in these countries.

For more information, please visit www.mapletree.com.sg.