Innovativeness of Business Idea
Potential Market Opportunity
Capability to Execute
Competitive Positioning of Team
IP Strategy, Value Created
- Business Plan – Max 5000 words in pdf format
- Video Pitch (optional)
- Two prizes of $20,000 each for developing a prototype and proof of concept testing
- Green lane to IIE incubation programme
1. Are teams allowed to submit multiple entries? No.
2. Am I allowed to be the member of multiple teams? No
3. Why is there a minimum number of 2 members per team?
It is in very rare cases that single founder companies have succeeded. Starting a business is very hard for one person. You need others with whom you can discuss, brainstorm and validate your ideas. A multi-talented team with complementary skills has the best chance of success.
4. One of our team members is from another University, are we allowed to participate?
No. All the team members must be from SMU to be eligible to participate in the competition.
5. How would the prize money be paid out?
The prize money will be paid in tranches based on the needs and milestones.
6. Who owns the business idea?
The team that came up with the business idea has the full ownership of the start-up. Neither SICC nor SMU IIE would take any stake in the company.
7. Will mentorship be provided to the participating teams during the preparation for the competition? No.
8. Must the product/services be based in Singapore?
Not necessary. Participants are encouraged to identify opportunities that can take the business global.