SINGAPORE - Dr Shi Xu, chief executive at Nanofilm Technologies International, was named EY Entrepreneur Of The Year 2017 Singapore by professional services organisation EY.
This was announced at the 16th awards gala held at The Ritz-Carlton, Millenia Singapore, on Friday night.
Mr Ong Ye Kung, Minister for Education (Higher Education and Skills) and Second Minister for Defence, was the guest-of-honour.
Dr Shi, who was also named the EY Entrepreneur Of The Year for advanced manufacturing, will be Singapore's representative at the EY World Entrepreneur Of The Year event to be held in Monte Carlo, Monaco in June 2018.
He will compete with more than 60 other country winners for the coveted world title.
Dr Shi said in a statement: "It is a great honour to win this award this year. I thank my wife, my children and the rest of my family for their love and consistent support through the peaks and valleys in my entrepreneurial journey."
The EY global competition is the hallmark of the awards programme, which serves as a platform to profile local entrepreneurs among the world's best business leaders.
An independent judging panel selected Dr Shi as the winner across the six judging criteria: entrepreneurial spirit, innovation, personal integrity and influence, financial performance, strategic direction and global impact.
Dr Shi set up Nanofilm Technologies International in 1999 with a start-up capital of S$300,000.
Today, the company is a significant player in the coating technology and advanced manufacturing on the world stage, with multinational operations and more than 1,500 employees.
"Shi Xu has been able to both identify and realise opportunities, no matter what role or environment he is in. With his scientific background, he spotted existing limitations, invented a new technology, and had the strong business acumen to take it from ideation to commercialisation," said chairman of the judging panel, Dr Robert Yap, who is also executive chairman of YCH Group.
"His belief in innovation continues to drive his investments in research and development," he added.
The other winners on the night are:
* Mr Chia Yoong Hui, founder, chairman and chief executive officer, and Mr Sia Teck Chong, co-founder, director and chief technical officer of Ascenz for Entrepreneur Of The Year - Maritime Technology Solutions;
* Mr Lennon Tan, group chairman of JK Tech Group for Entrepreneur Of The Year - Financial Services Technology Enablement; and
* Mr Derrick Yap, chief executive officer of PBA International for Entrepreneur Of The Year - Diversified Engineering.