Enterprise Development Bureau and CapitaLand Investment issued a statement on Wednesday (June 18) pointing out that this public challenge aims to discover an attractive and immersive retail concept, while making good use of technology to improve space and manpower efficiency, thereby creating a more attractive retail environment and strengthening our country's position as a retail and lifestyle destination.
Applications for this competition will be open from June 18 to August 4. Merchants interested in participating can learn more and register through the event website.
Challenge will select up to three winning concepts. Winners can receive up to 4,000 square feet of rent-free retail space in CapitaLand malls such as Plaza Singapura, Funan Mall and CQ@Clarke Quay for pilot projects. They will also receive up to 50% of the Enterprise Development Bureau and up to 300,000 yuan in funding for technology, decoration and marketing.
In order to promote the innovative development of Singapore's retail industry, the Singapore Enterprise Development Council and CapitaLand Investment launched the first "Retail Maverick Challenge". The retailer was invited to submit the most creative store concept. Winners will be able to enter CapitaLand’s shopping malls for free for up to one year, pilot and demonstrate their innovative ideas.
Cadell will also assist in promotion through its marketing platform. In addition, the Enterprise Development Bureau and CapitaLand will also provide the winning team with opportunities to communicate and cooperate with industry partners and experts.