Open Category

This category is open to anyone interested in entrepreneurship, regardless of whether the company has been incorporated or not. All submissions must be the original work of the participants and may be submitted after the team has registered for the competition.

There are no restrictions on the size of a team and participants are allowed to be in one or more teams. Nonetheless, participants are strongly encouraged to be dedicated as a core member in only one team. Being a core member in more than one team may be considered as a factor by the judging panel in evaluating submissions.

International participants are welcome to register for the competition provided that each team has at least one core member who is ordinarily resident in Singapore. A Singapore citizen, a permanent resident of Singapore or an expatriate holding a valid Employment Pass or Dependent's Pass fulfills this criterion.

Companies participating must be less than three years old at the point of registration.

Companies that have received outside investment from venture capitalists, private investors and/or industry sources before the closing date for executive summary submissions are eligible to compete provided the total funding committed (including paid-up capital, grants, loans and other forms of funding) does not exceed SG$200,000. The judging panel reserves the right to disqualify any entry that, in its opinion, violates the spirit of the competition guidelines.

The closing date for all executive summary submissions is midnight of 21 February 2008 (Thursday). Do submit your plans early to avoid disappointment due to bandwidth congestion.

Upon conclusion of the competition, winning teams will receive 30% of the prize money. As an economic incentive for Singapore, in order to qualify for the remaining 70% of the prize money, winning teams will be required to register and set up their business in Singapore and provide documentary proof of having done this.

Youth Category

This category is open to participants between 14 and 24 years of age. In other words, all core members of a Youth Category team are to be under 25 years of age on or before the closing date for executive summary submissions.

Note that teams participating in the Youth Category of the competition are allowed to work with advisors, mentors and/or teachers who are 25 years of age or older on constructing and developing their executive summaries, business plans and various presentations. However, these teams should also note that advisors, mentors and/or teachers who are 25 years of age or older cannot register with the team as this will forfeit the team's eligibility to participate in the Youth Category of the competition. Such teams may only include the credentials of their advisors, mentors and/or teachers in the Advisory Board section of their executive summaries and business plans. In addition to this, only core members will be allowed to present and respond to the questions posed during the Semifinals and Finals.

Judging will be based on the same criteria and guidelines as the Open Category.

The closing date for all executive summary submissions is midnight of 21 February 2008 (Thursday). Do submit your plans early to avoid disappointment due to bandwidth congestion.