Young Entrepreneur Awards 2010
Who can take part?
- You must be between 18 and 40 years of age as of 1 Jan 2011.
- You are allowed to have 1 business partner.
- All completed entries must be submitted by 17 Dec 2010. This includes an outline of your business idea with a detailed business plan.
- Shortlisted finalists will be asked to present their ideas to a panel of judges (comprising local entrepreneurs and business leaders) during the last week of December.
- Young Entrepreneur Award 2010 will be held on 7 Jan 2011.
What you need to provide?
Entries will be judged on the nature of the product or service, how well thought through are the ideas and the likelihood of success. Whether your idea is to develop a new trade, introduce new ways of using technology, improve environmental sustainability and public safety, promote community involvement and active aging or simply how to maximize use of a vacant store – you are only limited by your imagination.
Your initial business proposal should include:
- What is your business idea and why do you think it will succeed.
- If there is a market demand for your product or service, and how you came to this conclusion.
- The unique selling points of your product or service, and state reasons why is there a market for it.
Additional info to be provided if your entry is shortlisted:
- Costs of production and delivery (if applicable).
- Identity of your target market and the ideal price that this market would be willing to pay for your product or service.
- Ideas on how to promote your product or service.
- Break-even amount and projected profits for your business.
Panel of Judges
- Lyn Lee (Awfully Chocoalte)
- Violet Lim (LUNCH Actually)
- Patrick Liew (HSR)
- Elim Chew (77th Street)
- Michael Toh (Air Division)
- Gary Khoo (Spectacle Hut)
- Kathy Lim-Sheehy (Denise The Wine Shop)
What will you be judged on?
Besides a great concept, sound business philosophy and a sound plan for the future, we are also looking for:
- Innovation
- Flare
- Creativity
- Business potential
- Attention to detail