Start-Up@Singapore
From Wikipedia, the free encyclopedia
Contents |
[edit] Introduction
Start-Up@Singapore is a national business plan competition and forums jointly organized by the National University of Singapore (NUS) Entrepreneurship Centre, NUS Business School Alumni Association and NUS Entrepreneurship Society, which is also opened to international participants.
First launched in 1999, the Start-Up@Singapore competition and forums have grown and evolved to become a highly regarded launch pad for start-ups, attracting aspiring entrepreneurs, VCs, chief executives and senior managers from the entire entrepreneurial venturing community.
Start-Up@Singapore is a fully student-run business plan competition; students from the National University of Singapore organize the workshops and forums that constitute the competition. It is also an entrepreneurial ecosystem encompassing youths, aspiring entrepreneurs, researchers, mentors, venture capitalists, business angels and successful start-ups in an environment of continuous education and opportunities.
Over the past 7 years, Start-Up@Singapore has spawned over 50 startups, including award winning technology based startups such as tenCube, FriarTuck, Atsuma Technology, QuantaGen, World Indigo and Biomers who are now thriving in their respective fields.
The goal of the competition is to encourage participating teams to go on to form start-ups and because of the many opportunities available, many of these teams will go on to receive funding by business angel investors or venture capitalists. The essence of the competition is in the participation process, which provides an opportunity for aspiring entrepreneurs to tap on a network of CEOs, venture capitalists, and business angels for guidance, mentorship and even funding for their potential new business creations.
Apart from creating opportunities for aspiring entrepreneurs, Start-Up@Singapore also aims to educate the people about entrepreneurship. Participants of the competition learn about entrepreneurship by attending the workshops and forums that are part of the competition.
As the longest surviving national business plan competition in Singapore, Start-Up@Singapore has also received the Spirit of Enterprise (SOE) Award, making it one of the most highly-regarded business plan competition on the national level.
[edit] Competition Structure
- Grand Launch - 26th October 2006
- Executive Summary Submission Deadline - 9th February 2007
- Full Business Plan Submission Deadline - 6th May 2007
- Semi-Finals - 19th May 2007
- Grand Finals - 26th May 2007
[edit] Categories
General Category
The General Category is open to anyone interested in entrepreneurship. Entries must be the original work of entrants and may be entered by one person or a team. There is no restriction on the size of a team or the number of entries submitted by a team or individual - teams are allowed to submit more than one business idea. Team members are allowed to participate in more than one team.
Companies participating must be less than 3 years old at the point of registration.
Ventures that have received outside investment from venture capitalists, private investors or industry sources at the point of registration are also eligible to compete - provided that the total funding (including paid-up capital, grants, loans and other forms of funding) does not exceed S$200,000.
Youth Category
This category is open to participants between 14-24 years old. Specifically, all team members are to be under 25 years of age on or before the closure of the Youth Category Executive Summary submissions.
[edit] Awards
General Category
- Grand Winner: S$30,000
- 1st Runner Up: S$10,000
- 2nd Runner Up: S$5,000
Youth Category
- Grand Winner: S$5,000
- 3 Merit Awards: S$1,000(each)
Other Prizes
The winning entries in each category have an opportunity to make use of business incubator facilities and support services from our incubator partners. They offer a range of business development services and access to office space and shared office services on flexible terms for startups. To top it off, Netgear offers the winners network equipment support for their venture. DBS also offers 2-Year Free Banking services valued at S$4110 for all semifinalists.
Other Opportunities
The winner also gets a chance to participate in other renowned competitions such as the Intel-Berkeley Technopreneurship Challenge that brings together aspiring entrepreneurs from best of the schools in the world.
[edit] Past Winners
2005/06 Winner - tenCube
tenCube’s anchor product WaveSecure is the world’s most comprehensive mobile security solution for consumers. It enables users to remotely lock their mobile phones such that the phone is completely disabled. The owner can also track any new SIM inserted or the location, even if the SIM card is replaced. The owner can back up data effortlessly on a server and can also remotely wipe out the sensitive data on the phone. It prevents unauthorized usage, protects sensitive and private data and increases the chance of recovering the phone. tenCube is recognized as one of the hottest 100 technology companies in Asia by RED HERRING and a top ten finalist in Singapore’s prestigious National Infocomm Award. WaveSecure was recognized as one of the “Top 10 Wireless Innovations in Asia Pacific” by Frost & Sullivan.
2004/05 Winner - Biomers
BioMers has developed a complete aesthetic alternative to unsightly metallic braces for the treatment of malocclusion (crooked teeth). BioMers’s braces are not clearly visible to others and have the necessary mechanical properties to straighten teeth. With an unrivaled product in the market, BioMers aims to capture a significant portion of the 1 million orthodontic patients in the U.S. who are currently seeking an aesthetic treatment for their malocclusion.
2003/04 Winner - World Indigo
World Indigo aims to be the market leader in providing low cost wireless communication services to passengers’ mobile phones on board ferries, trains and airplanes worldwide. They are the first wireless network operator to specialize in providing SMS and Email services, allowing passengers to stay connected on the go. World Indigo is an early stage company with corporate headquarters, call center and network operations center based in Singapore. Initial ferry pilot program will consist of 15 units operating during a four month period. The pilot program will include ferry operators and airlines in Asia (Singapore/Malaysia) and Europe.
