Wow! What a mouthful and long title! Just like how one should do when one starts spinning off a business idea – be precise, have a call for action and set a plan on how to get it kicked off.

Participants stand to win up to US$60,000 in cash, prizes and business development opportunities. Overseas finalists will receive 5 night hotel stay in Singapore for 2 core team members. Apart from the top six teams, there will be an individualMost Promising Young Entrepreneur award. The best performing local team in the finals will also be eligible to tap into a S$100,000 HSBC Investment Grant to give life to their businessidea. This year’s competition is also supported by SPRING and Action Community forEntrepreneurship (ACE).

Entries can be submitted now till 31 Jan 2011 and the finals is slated for 25 August 2011. There will be three rounds: preliminary, semi-finals and finals. The top six teams will beshortlisted through an anonymous judging system.

Three rounds to battle towards the beginning of your business idea!

Preliminary Round

  1. Submit business plan online.

Semi-Final Round

  1. Top 15 teams enter this round.
  2. Prepare a 3000 word business plan as well as a 3-minute video footage of their team presenting their business ideas, to compete for a berth in the top 6.

Final Round

  1. Top 6 enters this round and to do a final presentation in front of a panel of judges.

Of course, the above is only a super short version of what’s expected of you. More details please refer to the respective links above.

Key milestone for the competition:

  • Closing Date for Preliminary Round on 31 January 2011
  • Announcement of Semi-Finalists on 10 March 2011
  • Submission Deadline for Semi-Final Round on 29 April 2011
  • Announcement of Finalists on 15 June 2011
  • Finals and Awards Presentation Ceremony on 25 August 2011

(Boy this sounds like N.E.mation! to me! Professional hazards. :P)

Get a head start in business. Submit your business plan today! SMU’s Institute of Innovation & Entrepreneurship is the organiser of the competition together with SMU students.