The ideas.inc. Business Challenge is a business idea competition organised by the Nanyang Technological University (NTU) and SPRING Singapore, and is open to all students below the age of 26. The competition, which started in Nov 2010, provides support and guidance to help aspiring entrepreneurs and start-ups transform their business ideas into real business models, through business workshops and experienced mentors.
During the Semi-Final Phase, 15 semi-finalists would receive S$15,000 each and given 3 months to complete their Proof of Concept, including feasibility studies, market research and development of their prototypes. During the Grand-Final Phase, 6 grand-finalists would receive S$50,000 each and given 2 months to begin early commercialisation and penetration into the market. The Grand-Final on 23 Sep 2011 would see 3 best start-ups winning a S$100,000 Incubation Grant each (made up of cash and services). Read more