Singapore Management University (SMU) has launched the 10th edition of the Lee Kuan Yew Global Business Plan Competition (LKYGBPC), which offers a platform for the upcoming generation of global innovators and entrepreneurs to reimagine cities into smart, sustainable and resilient communities.
Organised by the Institute of Innovation and Entrepreneurship (IIE) at SMU, the 10th LKYGBPC has been titled “Reimagine smart, sustainable and resilient cities,” with areas of focus on sustainable urban innovations such as public health, wellness and safety; infrastructure and industry; air, water, food and waste; energy and grid; built environment and real estate; transportation and mobility; government tech and civil solutions; and cybersecurity.
Applicable technologies that facilitate solutions for the listed verticals may include blockchain, virtual and augmented reality, data analytics and artificial intelligence, Internet of Things, 5G, robotics and more.
The competition offers up to S$1 million (about US$730,000) worth of prizes for startups and innovators from across the globe to submit their ideas and business plans. An international panel of eminent judges comprising industry experts and entrepreneurs will assess the submissions.
“The theme of this year’s competition is especially apt, given the increasing global interest in the development of smart, sustainable and resilient cities with innovative ecosystems which will benefit their communities,” said SMU president Lily Kong.
“Development of smart cities, however, also presents unique challenges, many of which are new or emerging,” Kong said. “Through this competition, SMU aims to provide an important platform for the world’s brightest young minds to converge and tackle these challenges through their fresh, innovative and entrepreneurial ideas that would make meaningful impact on the cities today and in the future.”
For the 2019-2020 edition, the competition is open to all full-time university and polytechnic students and recent university alumni or those who graduated up to five years ago.
“In strong partnership with various government agencies and large corporations in Asia, the competition aims to provide participants with unparalleled access to Asia’s innovation and entrepreneurship network for mentorship and commercialisation support,” said Gerard George, dean of Lee Kong Chian School of Business.