Lee Kuan Yew Global Business Plan Competition 2011

The Lee Kuan Yew Global Business Plan Competition is back again! Organized by Singapore Management University (SMU)‘s Institute of Innovation and Entrepreneurship, this business plan competition, aimed at helping budding entrepreneurs, is open to students from all around the world. Students can win up to US$60,000 in cash and funding for their business ideas.

“The Lee Kuan Yew Global Business Plan competition has been a marquee event for tertiary students from around the globe. With such strong support from the business community, we will be able to impact even more young entrepreneurs around the world and uncover winning business ideas,” says Professor Desai Narasimhalu, Director of the Institute of Innovation and Entrepreneurship at SMU.

The winner of the previous competition, Mark Jensen of Altus Poles, won for himself US$36,000 with his business plan to revolutionize the communication tower and utility pole industry. The 23-year-old from the US trumped the rest of the finalists with a manufacturing process that will produce a stronger, lighter and safer structure which also requires less maintenance. “This competition has opened my eyes to the Asian markets. It’s a very outstanding community here,” he says. “One of the things I’ve learnt here is to constantly improve and that will be very important when I go out to raise real money,” he adds.

If you’re eligible, all you need to do first is to submit a 1000-word business plan summary for a startup or early stage venture here. Submissions must not be later than January 31, 2011.