ideasinc 2020 FAQ
Started in 2009, ideasinc has evolved from a business plan competition for Nanyang Technological University (NTU students), to a start-up accelerator programme which is open to all youths in Singapore.
ideasinc 2020 is a nationwide start-up challenge serious about grooming promising ideas into viable businesses. It strives to be a major partner in the nation’s effort to promote and develop an entrepreneurial environment that will bring about significant economic and social development in Singapore though the success of homegrown enterprises.
ideasinc is open to all age 18 years old and above. One member of the team must be a Singapore Citizen or Permanent Resident. All participants shall form a team of 3 individuals.
Pushing alongside the United Nations Sustainable Development Goals, ideasinc 2020 is looking for challenges and solutions in the areas of crisis prevention, building a city of resilience and environmental sustainability. Participants will pick a topic and identify both the problem (in Singapore context) and solution.
All participants shall form teams of 3 individuals.
This request will be assessed on a case by case basis. Participants will have to write-in to the organising team for approval.
No. However, teams shortlisted as Finalists (Top 30 teams), which are not already registered business entities, are to register or incorporate a registered business entity based on the submitted proposal before the Semi-finals.
In the event a team has a registered business entity, that business entity must not have registered or incorporated for a minimum of 3 years prior to the time of application.
- Access to educational programmes, workshops and learning opportunities
- Dedicated mentorships from experienced industry players
- Support to set up your business locally
- Grants and investment opportunities
- Gain local and overseas market access
- See your solutions implemented
- Landing pad & incubation spaces
- Get exposed to business networks and events
- Job opportunities with partnering companies
The first round of selection will be based on the NaBC approach:
- Need – What are the customer and market needs?
- Approach – What is your unique approach for addressing this need?
- Benefit – What are the specific benefits for the stakeholders?
- Competition – How are the benefits superior to the Competition and the alternatives?
First prize – S$20,000
Second prize – S$10,000
Third prize – S$5,000
Participants are required to register for the Competition on or before 20 July 2020 at 2359 hours Singapore time ("Entry Deadline"), unless otherwise informed.
By submitting an entry, you warrant and represent that:
I. It is your team’s original work;
II. It does not infringe upon the copyrights, trademarks, rights of privacy, publicity or other intellectual property or other rights of any person or entity;
III. All materials from a third-party source used in the submissions and presentations must have obtained relevant permissions and be credited in accordance.
Due to the fluid COVID-19 situation, the exact dates and format have not been set. We will update this information once there is confirmation.