NTU Singapore launches startup challenge

Sixty teams will compete in the event for a cash prize of up to $35,000.

Nanyang Technological University (NTU) Singapore’s innovation and enterprise arm NTUitive, has launched its startup challenge dubbed as ideasinc 2020. Registration has been open since May and will continue through July.

ideasinc began in 2009 as a business plan competition for NTU students and is open to every first-time entrepreneur aged 18 and above. Participants must form teams of three with at least one Singapore citizen or permanent resident. The top 30 teams will be required to incorporate a business entity, based on the proposal submitted at the start of the semi-final stage of the competition. Winners will receive a prize money of up to $35,000.

The event aims to turn innovative ideas into successful startups that can contribute to the country’s future in the “new normal”, the press release added.