Singapore, 20 March 2017 (Monday) — Singapore Management University (SMU) today announced the launch of the 9th edition of the Lee Kuan Yew Global Business Plan Competition (LKYGBPC). The theme this year is “Smart City”, in keeping with Singapore’s ambition to be the world’s first smart nation.

The biennial competition, named after Singapore’s founding Prime Minister, aims to draw inspiration from his indomitable spirit of innovation and ambition to bring together the brightest and most entrepreneurial minds from tertiary institutions around the world to tackle the challenges of the 21st century.

Participating teams have to propose innovative technology or data-centric products and services that address the opportunities and challenges a smart city faces in the areas of health, living, mobility and services.

“This competition is a platform for world class innovators, venture capitalists and young entrepreneurial talents to convene and discuss game changing ideas that can profoundly change our everyday lives,“ said Hau Koh Foo, director of the Institute of Innovation & Entrepreneurship at the Singapore Management University. “We look forward to hosting the global innovation and entrepreneurship community in Singapore during the competition finals and showcase some of the most exciting ideas that will power the smart cities of tomorrow.”

Proposals have to be submitted by 16 June, 2017. The finals, including an awards presentation, will be held on 15 September, 2017 and will feature Michael Seibel, Chief Executive Officer of Y Combinator, a leading start-up incubator and accelerator in USA, as the keynote speaker.

SMU expects to reach more than 2,000 universities worldwide and attract 500 teams. The shortlisted teams for the finals will have an all-expenses paid trip to Singapore during the competition week. Teams will have the opportunity to participate in intensive startup workshops, attend events featuring prominent entrepreneurs and venture capitalists in Asia, have direct access to acclaimed mentors and visit key innovation hotspots in Singapore. Up to S$1 million cash, investment and in-kind prizes stand to be won.

The competition’s judges are Shirley Wong, managing partner of TNF Ventures and board member of the Infocomm Media Development Authority of Singapore; Professor Lui Pao Chuen, advisor at the National Research Foundation Singapore and Ministry of National Development and board member of Singapore Technologies Electronics; Justin Kan, founder of Zero-F, formerly from Y Combinator.

Participating teams will be evaluated on the innovativeness of business idea, commercial feasibility, impact of idea, and execution capability.

The Lee Kuan Yew Global Business Plan Competition is supported by Wilmar International Limited, with the Smart Nation Programme Office as Knowledge Partner.

For more information about the Lee Kuan Yew Global Business Plan Competition, please visit http://smu.edu.sg/lky.