What is in the DNA of an Australian Young Entrepreneur of the Year Award winner?
For many it is being disruptive and flipping industries on their heads through invention or innovations, with a sense of ingenuity at the core of their business.
For others, it is identifying trends ahead of time and riding the wave of change.
Those honoured with the title are at the top of their game, and with strong potential for scalability show no sign of slowing down anytime soon.
New Aim founder Fung Lam (pictured below), who today has won the Australian Young Entrepreneur of the Year 2020 Award, hits all of these targets.
Click here for a presentation of all the winners and finalists at the Australian Young Entrepreneur Awards 2020.
Having established a grounding in e-commerce via selling on eBay, Lam took things to the next level by harnessing data and technology to find the next big thing.
That's culminated in New Aim becoming a giant in the retail and services sector, responsible for distributing goods all over the nation every single day.
Not only that, but by building dropshipping platform Dropshipzone and in-house Shopify app Sofortig, he's helping the next generation of entrepreneurs get a leg up in the ever growing e-commerce sector.
Notwithstanding distribution hiccups caused by COVID-19 restrictions, New Aim has been relatively unscathed by the pandemic and saw sales more than double since the crisis hit.
Lam is in good company with the category winners at the Australian Young Entrepreneur Awards 2020 today.
One glance at the list in the document below and it's clear this country is simply brimming with innovation and expertise. In total the finalists generate $1.94 billion in revenue - an increase of $600 million compared to last year's cohort. They also employ close to 8,000 staff.
Just look at Tammy Hembrow, the winner of the Australian Fashion Design Award for 2020. She's built a clothing and fitness empire on the back of an Instagram page - not a mean feat considering how saturated the social media market is these days.
Or look at Dr Sean Parsons who quickly retooled his diagnostics company Ellume to join the global fight against COVID-19 with his innovative rapid test product.
Others like Tones and I's manager Lemon Tree Music, peer-to-peer caravan hire service Camplify, and The Bachelor star Sam Wood refused to let industry disruptions stand in their way and took things to the next level against the odds.
One of the most coveted recognitions in this initiative is the Trailblazer Award, presented to entrepreneurs who have scaled their businesses exponentially over a short space of time with the potential for further explosive growth.
This year that honour was given to the founders of GO1, the world's largest corporate training marketplace.
GO1 co-founders Chris Eigeland, Vu Tran, Chris Hood and Andrew Barnes.
Backed by a recent $40 million Series C funding round supported by SEEK, Microsoft and Salesforce, and a ground-breaking integration with Microsoft Teams, GO1 sailed on the tailwind of the working from home trend this year, helping organisations train staff whenever and wherever.
While we are unable to gather in person today, we hope every finalist and winner of the Australian Young Entrepreneur Awards 2020 finds some time over the holiday season to take stock of what a year this has been and celebrate every achievement.
Click here or in the banner below for a presentation of all the winners and finalists.
Get our daily business news
Sign up to our free email news updates.
Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support