Six teams have made the grand finals of Idea.Inc Business Challenge 2011 (see past coverage here), an annual competition organized by Singapore’s Nanyang Technological University that selects teams with the most innovative ideas and molds them into commercially viable businesses. The top six must bring their ideas towards early commercialization and entry into the market in the next two months.
Below are descriptions of the top six and their business ideas:
Avetics
Avetics focuses on building small scale UAVs that are suited for use in the urban environment. Our UAVs incorporate several safety features like smart algorithms and physical design which we believe will greatly lower the adoption barrier. Besides being safe, our UAVs also boast a long battery life and a modularized payload. This modularization makes future upgrades more economical and allows the UAVs to take on different configurations.
Bamboobee
The bamboobee bike project seeks to revolutionize the social enterprise mindset and promote eco-friendliness with an innovative twist to the everyday bicycle – refining its production process to make it environmentally sustainable and using processed natural bamboo as the main component of the bike. We choose bamboo because bamboo is a fast growing and naturally occurring strong and versatile raw material and this process alone will reduce all the harmful by-products that come from the use of metals like aluminum and steel.
The C.A.R.E Team
We are the C.A.R.E team (Creating Assistive Rehabilitation Enterprise). Our award-winning assistive innovation – the `Intelligent Walking Frame’, has gained distinguished recognition in major competitions, proving our innovation to be creatively unique and highly practical for the fast growing ageing population. Our unique business model takes advantage of our specialization – Search Engine Marketing(SEM), that seeks to market websites by increasing their visibility in search engine result pages (SERPs), through the use of free traffic globally. We look forward to integrating this into our new business model and hope to collaborate with VWOs and hospitals for branding and as a catalyst into this niche.
Milaap Social Ventures
As a social enterprise, Milaap enables individuals to make microloans that help the rural poor in India gain access to basic services, such as education, healthcare, electricity, clean water and sanitation. Crowdsourcing allows Milaap to increase the number of people supported and reduce the cost of the loan. Upon completion of the loan period, individuals are returned their loan, which they can keep or give to another borrower. Currently, Milaap has facilitated microloans totaling $40000, across 3 states in India.
SafeMarine
SafeMarine’s mission is to revolutionize the commercial diving ship repair and maintenance industry through the use of safer, highly reliable and more efficient automated robots that can be used for all kinds of underwater ship maintenance services, thereby eliminating the dangers of diver mishaps and provides a more comprehensive hull cleaning and maintenance services. Our main focus is on the East Asian ship repair and maintenance market especially with regards to Singapore, Korea and China.
TechArmory
The Gamer Arsenal will be designing and manufacturing high-end, gaming-oriented personal computers (PCs) that will use a mineral oil cooling system. TGA will be aiming for hardcore gamers and parents with high disposable income, offering the complete package of a high-powered CPU (that uses an aesthetically well-designed, two-stage case), monitor and all associated peripherals such a gamer might need. We have plans to sell to the global market immediately, and will patent the design of the sealed, internal oil container.
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