The Lee Kuan Yew Global Business Plan Competition (LKYGBPC) is an annual international business plan competition organized by the Singapore Management University (SMU) in memory of the late Mr. Lee Kuan Yew, Singapore’s founding Prime Minister. The competition aims to foster entrepreneurship, innovation, and global collaboration among university students and young entrepreneurs from around the world.
Here are key details about the Lee Kuan Yew Global Business Plan Competition:
- Objective: The primary objective of the LKYGBPC is to provide a platform for university students and young entrepreneurs to showcase their innovative business ideas, receive feedback from industry experts and investors, and gain exposure to potential funding and collaboration opportunities.
- Participation: The competition is open to university students and young entrepreneurs aged 18 to 35 years old from around the world. Participants can form teams and submit their business proposals to compete in one of the competition’s tracks, which may focus on specific industries or sectors.
- Competition Tracks: The LKYGBPC typically features multiple competition tracks, each focusing on different themes, industries, or sectors of the economy. Examples of past tracks include technology, healthcare, sustainability, social entrepreneurship, and emerging markets. Participants choose the track that aligns with their business idea and expertise.
- Judging Criteria: Business proposals are evaluated based on various criteria, including innovation and uniqueness of the business concept, market potential and scalability, feasibility and sustainability of the business model, clarity and persuasiveness of the presentation, and potential impact or social value of the venture.
- Prizes and Awards: Winners of the LKYGBPC receive cash prizes, mentorship opportunities, networking opportunities with industry experts and investors, and access to incubation or acceleration programs to further develop their business ideas. Prizes may vary depending on the competition track and sponsorship arrangements.
- Networking and Collaboration Opportunities: The competition provides participants with valuable networking opportunities to connect with fellow entrepreneurs, industry professionals, investors, and mentors from around the world. Participants may also have the chance to explore potential partnerships, collaborations, and investment opportunities for their ventures.
- International Recognition: The LKYGBPC is recognized as one of the premier business plan competitions globally and attracts participants and judges from diverse backgrounds and industries. Winning teams gain international exposure and recognition for their innovative business ideas and entrepreneurial endeavors.
Overall, the Lee Kuan Yew Global Business Plan Competition offers an exciting platform for aspiring entrepreneurs and innovators to showcase their creativity, passion, and potential to make a positive impact on society through entrepreneurship. It provides a unique opportunity to receive feedback, mentorship, and support to turn innovative ideas into successful ventures.
