Enterprise Singapore (EnterpriseSG) and CapitaLand Investment (CLI) have launched the inaugural Retail Maverick Challenge, a competition designed to uncover innovative, experiential retail concepts and strengthen Singapore’s appeal as a vibrant shopping destination.
The challenge invites local retail brands to pitch creative store formats that enhance consumer engagement, optimize operations through technology, and respond to evolving shopping preferences.
Up to three winning concepts will be selected and awarded up to one year of rent-free retail space in high-traffic CapitaLand malls such as Plaza Singapura, Funan, and CQ @ Clarke Quay.
Winners will also receive co-funding from EnterpriseSG of up to 50% of pilot implementation costs, capped at SGD 300,000. Eligible costs include fit-outs, tech integration, and marketing.
The initiative offers additional support through CLI’s promotional channels and collaboration opportunities with EnterpriseSG’s partner network.
The Retail Maverick Challenge is part of a broader push to rejuvenate Singapore’s retail landscape and help local businesses adapt amid rising operating costs and competition from e-commerce.
Organizers say the open-entry format is meant to encourage diverse, bold ideas that go beyond traditional retail models.
EnterpriseSG has previously supported experiential store concepts by local brands such as FairPrice Group and Wine Portal (Vivino), resulting in improved customer engagement and revenue growth.
Applications are open from June 18 to August 4, 2025, via the Open Innovation Platform. The initiative underscores Singapore’s commitment to fostering a forward-looking, resilient retail ecosystem.
Business News Asia
