Hyderabad August 17th 2018: FedEx Express, a subsidiary of FedEx Corp (NYSE: FDX) and the world’s largest express transportation company, today announced the finalists of its Small Business Grant Contest in India. The shortlisted finalists will now enter the final stage of the contest to compete for a grand prize of INR 15,00,000.
With more than 450 businesses entering the FedEx Small Business Grant Contest, nominations came from a diverse range of industry sectors. The entries were evaluated by an external advisory firm with an assessment focused on three key areas: inspiration to grow their business to new markets, how they would utilize the grant, and financial performance of the business. Entries were also given extra credit for having unique or innovative service offering, or a business that has a positive impact in the community.
The second edition of the contest in India saw a significant rise in participation from small businesses, with more than double the number of businesses submitting entries this year.
“We are delighted by the overwhelming response to the contest, which demonstrates that small businesses in India recognize the opportunities available to them, and are passionate about expanding their businesses and discovering new markets,” said Philip Cheng, vice president, Ground Operations India, FedEx Express. “At FedEx, we connect people and possibilities every day, and provide businesses with the support and guidance needed to pursue their ambitions, and the Small Business Grant Contest is the ideal platform to help them achieve this goal. While we received a number of outstanding entries, the finalists all shared a common quality—a simple, compelling business idea with the potential to expand into new markets.”
In the next stage of the contest, the selected finalists will further detail their growth plans, and present these to an independent panel of judges. The winner of the contest will receive the grand prize of INR 15,00,000, to be announced August 23, 2018.