- The Grand Finals winners are ChemT Biotechnology, representing Singapore and the US, and Zhejiang Polar Code Technology representing China and the US.
- ChemT Biotechnology emerged winner of the Chancellor’s Cup for Beta Innovation and Zhejiang Polar Code Technology was awarded the Chancellor’s Cup for Infinity Impact.
- Chairman of National Research Foundation, Mr Heng Swee Keat, reiterates Singapore’s role as a global innovation & entrepreneurial hub, well-exemplified by the success of the 12th LKYGBPC
Singapore, 03 October 2025 - ChemT Biotechnology, a biotech startup from Singapore, and Zhejiang Polar Code Technology, an energy tech startup from China were declared Grand Final winners of the 12th Lee Kuan Yew Global Business Plan Competition (LKYGBPC) yesterday (2 Oct). Organised by the Singapore Management University Institute of Innovation and Entrepreneurship (SMU IIE) from 29 September to 02 October 2025, LKYGBPC is one of Asia’s largest university-led deep-tech startup competitions, with this edition setting new records for global participation.
ChemT Biotechnology, whose founders graduated from the National University of Singapore and Harvard University, emerged winner of the Chancellor’s Cup for Beta Innovation. China-based Zhejiang Polar Code Technology, whose founders graduated from Tianjin University and Toledo University, clinched the Chancellor’s Cup for Infinity Impact.
The competition has two categories: ‘Beta’ for pre-revenue startups and ‘Infinity’ for revenue-generating early-stage startups up to Series A. ChemT Biotechnology’s achievement marks the first time in the 23-year history of the competition that a Singapore-US startup has clinched the top prize of either category.
Ms Shirley Wong, Chief Judge and Chairperson of the 12th LKYGBPC Advisory Committee, remarked, "This reflects a level of trust in the biennial competition for startups to showcase their work, gain visibility, raise funds and receive expert feedback on their innovative and entrepreneurial models. The LKYGBPC is more than a competition—it's a vibrant celebration of bold ideas and fearless founders shaping a better future. This year's unprecedented participation and exceptional innovation, from climate tech to sustainable materials, reflect the grit and vision of young entrepreneurs tackling humanity's most pressing challenges.”
Both winning startups beat a tremendously competitive field of 60 global finalists – the winner of the Chancellor’s Cup for Beta Innovation was awarded S$237,500 worth of prize value and the winner of the Chancellor’s Cup for Infinity Impact secured S$287,500. Both teams also earned exclusive access to mentorship by some of the most notable venture capitalists (VCs) and C-suite Executives.
What the Winners Say
- Chancellor’s Cup for Beta Innovation (0 to 1 Category – Pre-revenue Start-ups) - ChemT Biotechnology, whose founders graduated from NUS and Harvard University.
- Sun Jie （孙洁）, Co-founder, said:
- "The spark I had, that made me decide to turn my idea into a venture, was when I was working in a corporate pharma company. We had touched on AI technology to solve a specific question that had been puzzling scientists for almost 20 years. And then, all of a sudden, AI solved it within a year. That was the moment I felt, ‘this is the time'. We are excited that we are ready to start something very new that could fundamentally change the industry and give patients more access to modern medicines.
- “Winning the competition is a great recognition to our startup. We are thrilled and will focus on scaling the business as a next step, this includes upgrading the current product, launching new products for antibody production, and scale our virtual cell AI platform to more customers."
- About ChemT Biotechnology: ChemT Biotechnology transforms bio-manufacturing with AI-designed small molecules that precisely modulate cell behaviour—boosting biologics production yields and optimising cell performance.
- Sun Jie （孙洁）, Co-founder, said:
- Chancellor’s Cup for Infinity Impact (1 to Infinity Category – Early to Series A-stage Revenue-generating Start-ups) - Zhejiang Polar Code Technology (浙江极码电子科技有限公司), whose founders graduated from Tianjin University and University of Toledo
- Wang Zhu (王柱), Co-founder, said:
- “We didn’t expect to win, and we plan to move our headquarters to Singapore. We are excited to promote our solution globally. What we do is provide a way to make high-level renewable penetration possible. Our advice and learning is, just do it, and always be grateful for the support from family, coworkers, and everyone around you. “
- About Zhejiang Polar Code Technology: Zhejiang Polar Code Technology delivers smart micro-grids powered by AI to optimise performance in renewable-rich power networks.
- Wang Zhu (王柱), Co-founder, said:
Another 15 university-affiliated start-ups were also declared winners across various categories, including MicroMelt Ltd and SynMetabio which won the Indorama Ventures Future of Sustainable Materials Award; Photoncore, Dunia Innovations and Luxtelligence which won Zhang Fan Global AI Initiative Award, in first, second and third place respectively; and QarboTech which was awarded the Wavemaker Sustainability Investment Prize And the YIT Global Exploration Prize. (Please refer to the Annex)
Pioneering AI-Driven Start-up Evaluation
This year, LKYGBPC also introduced the DueAI™ Challenge, a novel initiative leveraging artificial intelligence to augment the efficiency and objectivity of start-up screening. Developed by Dr Sze Tiam Lin, Senior Licensing Advisor at SMU IIE, this AI-driven platform reflects global trends in venture capital, streamlining data collection and enabling data-driven investment decisions while empowering human judgment.
Universities as a Crucible of Innovation
In his closing address for the 12th LKYGBPC, Mr Heng Swee Keat, Chairman of the National Research Foundation (NRF), emphasised that the 12th LKYGBPC honours the legacy of Mr Lee Kuan Yew, whose visionary spirit continues to inspire and fuel innovation. He highlighted the competition’s success as a global magnet for innovation and learning, drawing 1,500 applications from over 1,200 universities across 91 countries and reinforcing Singapore’s status as an international gateway to Asia’s ecosystems.
Commending SMU as a “crucible of innovation" with a “pivotal role in fostering innovation and entrepreneurship among students”, Mr Heng noted that the LKYGBPC, co-created with student leaders, is a prime example and a necessary convening platform.
Concurring with Mr Heng, SMU President Professor Lily Kong acknowledged the role of over 100 such students participating in the organising of the competition with SMU. “What began as startup scouting and international roadshows grew into supporting mentors and judges and buddying next-gen founders, forging friendships and partnerships along the way,” she said. “The student-pitch showcase from our local tertiary institutions reflects how SMU contributes to Singapore as a national launchpad—connecting global deep-tech startups with our student talent, opening direct pathways to internships, career opportunities and hands-on experiences.”
Universities are also in good stead to partner with and gather stakeholders to amp up the knowledge flow within the ecosystem. The inaugural Chief Sustainability Officer (CSO) Conversations, organised in collaboration with the Singapore Green Finance Centre and SMU Urban Institute, sponsored by Climate Impact X, DBS and Google, took place during the LKYGBPC Finals Week where it convened 30 leading corporates; heads of sustainability, forward-thinking policymakers, and next-gen innovators to drive candid dialogue and strengthen cross-sector alignment. (See CSO Conversations | Lee Kuan Yew Global Business Plan Competition for more details)
The Road Ahead
Looking to the future, Mr Heng emphasised that Singapore’s collective and coordinated Research, Innovation and Enterprise (RIE) efforts remain critical to Singapore’s progress.
He described SMU’s Urban SustaInnovator, which National Development Minister Chee Hong Tat launched just a few days ago, as a key initiative in commercialising research into globally competitive and impactful solutions. The deep tech accelerator programme will also serve as a teaching accelerator, to expose the local workforce to global best practices, informing important stakeholders in the consortium of developments in the fields and expanding Singapore’s deep tech talent pool, thereby strengthening the nation’s innovation agenda.
“Supported by a founding consortium of private and public partners, the USI aims to nurture high-potential deep tech start-ups with a ’Singapore Inc. Advisory Board’ to accelerate and multiply positive impact on the world. This strong nexus between academia and industry sharpens our academic research edge and enables enterprises to be at the forefront of innovation.” All participants of LKYGBPC will get an exclusive opportunity to apply for the Urban SustaInnovator, advance their technology and grow their business.
