Young Upstarts

Have a good idea that can turn into a business? If so, NTU and SPRING wants you.

There’s another business competition in town for young, aspiring entrepreneurs and this time it’s the ideas.inc Business Challenge. Organized by Nanyang Technological University‘s NTU Technopreneurship Center and SPRING Singapore, the competition aims to provide funding and mentorship support for young entrepreneurs.

Teams that make it through the first round will be awarded up to S$15,000 to build prototypes and explore the commercial feasibility of their product or service ideas. The teams will also be mentored by Singapore-based entrepreneurs, NTU professors and alumni, and selected industry partners. Finalist teams would be eligible for additional funding up to S$50,000 through SPRING’s YES! Startups scheme. It taps on the S$25 million Entrepreneurial Talent Development Fund (ETDF) announced some four years ago.

Associate Professor Raymond Abelin of theNTU Technopreneurship Center says the ultimate goal for the competition is to “foster a pool of talented market-savvy youths and innovative new businesses in Singapore with strong competitive advantage and long-term sustainability”.

The ideas.inc challenge runs from August 2009 to July 2010 and comes in four phases.

You can find out more at their website.

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Daniel Goh is the founder and chief editor of Young | Upstarts. Daniel has a background in public relations, and is interested in issues in entrepreneurship, small business, marketing, public relations and the online space. He can be reached at daniel [at] youngupstarts [dot] com.