Lee Kuan Yew Global Business Plan Competition 2012: Applications Now Open!

Lee Kuan Yew Global Business Plan Competition, organized by the Singapore Management University Institute of Innovation and Entrepreneurship, is in its seventh edition and is currently calling for business plan submissions. The competition, held once every two years, is open to all full-time university undergraduates, college, and polytechnic students, including those who have recently graduated but enrolled during the period from January to August 2012.

The competition is tailored specially for students, regardless of which country you are from. In essence, it serves as an opportunity for students to showcase their business talents to the global audience, on top of building their networks and entrepreneurial dreams.

In fact, the competition has received good feedback from those who have participated. One of the finalists, Ariff Munshi of Referoll (previously known as Lobangz in the 2011 competition), tells us that it is probably one of the best planned and executed events around in the startup scene:

The quality of the ideas and teams are at a different level. [Judges] do not actually know which country you are from until the [final round].

The competition has benefited me in a [many] ways. Other than getting the chance to pitch in front of [mentors and veterans] and [obtaining] their feedback and suggestions, it was from this competition that I got [the] chance to be part of the Plug and Play accelerator programme in Silicon Valley.

[But] participating in competitions has its pros and cons. It can be very time-consuming and it does take your time from running your business. I would definitely recommend students to join, […] because you will never know where it [will take] you.

The winning team will walk away with US$36,000 in prize money, on top of other prizes and business development opportunities. International teams who have qualified for the final round will have their lodging provided for two core team members for five nights.

Applications close January 31, 2013. For more information on the rules and regulations, you can visit the competition website here or follow the competition updates at its Facebook page.