At the awards ceremony held at Surfers Paradise Marriott Resort and Spa on the Gold Coast the founders of multi-channel retail business New Aim, Fung Lam and Werner Liu, took out the title of Australian Young Entrepreneur of the Year 2019.
New Aim was lauded for maintaining the consumption economy, despite the recession being experienced by the Australian retail sector.
A product-agnostic business founded in Melbourne, New Aim operates on a multi-channel strategy, rapidly engineering products based on data.
“Our business is based on data and we simply look at the demand based on data,” Lam said. “Based on data, we can sell anything. We know something even if we don’t know why. The data tells us to sell it and we can sell it.”
Liu added, “We base everything on buyer behaviour. We only sell on websites where people are going to search for specific things. People will buy our products from a marketplace, for example, but never Facebook. Because we can’t control buyer behaviour 100 per cent we just go where people are going. It isn’t possible for us to control everything.”
This year, the Young Entrepreneur finalists turned over approximately $1.03 billion. Between all nominees into the Awards, this figure balloons to $1.3 billion.
According to the Young Entrepreneur judging panel, this year’s event was hotly contested between ASX-listed businesses, impressive scale-ups and fast-growing start-ups.
And yet, Young Entrepreneur Awards founder Camilla Jansen said that the initiative has always been about camaraderie rather than competition.
“This is more than an awards night, it gives young Australian entrepreneurs a chance to connect and elevate their businesses onto the global stage,” said Jansen. “The Awards presents an opportunity for the best and brightest young leaders in Australia to come together. Through this initiative, we’ve seen many collaborations as well as life-changing partnerships being formed. Ultimately, everyone who has come through the awards is better for it.”
The other winners of the 2019 Australian Young Entrepreneur Awards 2019 are: