Thai Team Wins 12th Start-Up@Singapore Competition

Last Saturday, 21st May 2011 was the finals and awards ceremony of the 12th Start-Up@Singapore business plan competition. There were three categories this year in which participants could contest in: Open, Youth and Cooperative. All the finalists had to pitch to a panel of judges in private and after, during the public awards ceremony, present a one-minute elevator pitch to the audience. Here are the profiles of the three category winners, taken from the S@S site:

AquaInnova (Open Category)

The idea of shrimp farming might seem distant and strange to most Singaporeans, who are much attuned to the fast-paced urban lifestyle in this concrete jungle – but not for this team of six from Thailand. Hailing from the country known for being the largest shrimp producer in the world, AquaInnova aims to produce Genovex, a shrimp viral detection equipment, which would staunch the massive farming loss from frequent shrimp viral outbreaks.

Genovex, a tool consisting of the actual device as well as reagents specific for each shrimp virus, is able to detect such viral situations early, hence prohibiting massive farm loss which arises from the late discovery of viruses. This sets AquaInnova’s product from other products and services for viral detection, as it is able to provide early containment, reducing economic losses for shrimp farmers as well. Besides being speedy in its detection, the sensitive and user-friendly nature of Genovex is a sure hit with consumers. Indeed, the focused AquaInnova has already had their eyes set on the Thailand market, which has been deemed by the team as brimming with potential due to the sheer size of its shrimp farming industry and number of hatcheries.

AquaInnova won S$20K (US$16K).

Ms DeeDee (Youth Category)

Ever thought of having a cup of fruit juice ready within minutes? Yes! you got that right, Ms DeeDee aims to combine the convenience of dispensers and self-service concepts with the healthy nutritional value of freshly squeezed fruit juices. Not only does it aim to promote an alternative lifestyle, it would definitely be a healthier choice for most people.

The ability to mix and match different juices serves as a big attraction. By allowing people to customize their own juices, Ms DeeDee aims to differentiate itself from conventional drink stores through this healthier alternative.

Similarly, in tropical Singapore, there is always a need to quench one’s thirst or perhaps required to cool oneself down after a hard day’s work. Undoubtedly, people might be slurping their way home or to the office on a healthier drink.

Ms DeeDee won S$5K (US$4K).

X – CHANGE (Cooperative Categroy)

The inspiration for X-CHANGE’s brilliant business idea came about one day from something simple and close to home – rooftop gardening. Where a lot of emphasis is now placed on freshness and quality of produce due to the demand of many high-end restaurants, the team found a need to address commercial rooftop gardening cooperatives.

So began Mariel, Francis and Karen’s route to entrepreneurship. This competition has not only allowed them to experience real-time business pitching not limited to the regular pitching which takes place in classroom conditions, but also to learn to excel under great pressure dealt by the other teams, which are equally competent. Despite this, the team feels that it is competition that has made them strive even harder for success. With academics and extra-curricular activities on their packed schedules as well, the members of X-CHANGE remain focused due to good time management. The range of tasks from research to oculars has trained them to engage in prioritizing and accommodating fellow group members. Additionally, the team has also learnt to be flexible and apply modifications when necessary.

Despite this competition being the first business plan competition for these budding entrepreneurs, all three members exude confidence, foresight, as well as prudence in their executions and planning. These are certainly valued traits in any entrepreneur!

X-CHANGE won S$5k (US$4k).

All of the winners, including the runner-up and 2nd runner-up for each category, received: a green lane to S$50K Spring YES Start-Up Fund, Direct entry to Intel Berkeley Tech Challenge, Direct entry to Global Tic, free 2-years banking services from DBS valued at S$4,110 (US$3.3K) for all semi-finalists.

Congrats to all of the winners! You can check all of the finalists for each category here.

We are honoured to have been the Official Online Media partner for 12th Start-Up@Singapore.

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