Over SGD100,000 in seed funding* will be awarded to the top teams:
Grand Prize: SGD 75,000
Best Newcomer Prize: SGD 30,000
Thanks to our Sector Champions, here are additional special prizes:
- two Syngenta Agriculture Social Enterprise Awards worth SGD10,000 each. One award will go to the best agriculture social enterprise, and the other to the social enterprise with the best use of technology & innovation for agriculture.
- a raiSE VentureForGood Grant award of SGD50,000 for the top social enterprise with impact in Singapore
The top 12 semifinalists will receive:
- Exclusive, facilitated access to the SVCAsia network (comprising of alumni semifinalists, impact partners, mentors, judges, and the SVCAsia steering committee)
- Mentoring/coaching by by local Impact Partner(s) or SVCAsia
- Exclusive invitation to SVCAsia/ DBS foundation/ partner network events
- A story feature on LinkedIn
- Showcase opportunity on AsiaForGood
- Relevant in-kind services/products from our partners (eg skilled-volunteer matching, in-kind credits for software products etc)
In addition, the top 6 finalists will receive the following in-kind benefits:
- 12 pro-bono hours from DBS & other corporate partners
- Up to 6 sessions with a paired expert mentor
- A story feature on a prime media platform
- Mentorship or incubation support in home country by our Impact Partners (if available, and team must meet partner’s selection criteria)
- Access to invite-only conferences or networking events
The top 60 teams (i.e. those who progress to the second judging round), will get exclusive access to a facilitated online course by the World Bank.
* The prize funding will be disbursed in tranches, according to agreed milestones (except the Syngenta Agriculture Social Enterprise Awards). Please refer to our Terms & Conditions for more details.
Who can participate?
- There is no limit on age, nationality or number of members in a team. You are welcome to participate whether you just have an idea, or have already started a venture, as long as it has a social impact in Asia.
- Participating or proposed ventures should be independent entities, meaning that they should not be a subsidiary of an existing corporation or have legal ties to a government body.
- Existing non-profits can participate, however they should propose a new venturing idea or a new plan to transform their existing non-profit operation into a financially more sustainable business.
- Proposed ventures should demonstrate positive, sustainable and scalable social impact in Asia (though not exclusively).
- Submissions should be the original work of the team – teams are expected to demonstrate the originality of their ideas whenever possible, or evidence of innovation.
- Teams that qualify in the top 12 are required to send at least one core member to the semifinals and finals in Singapore. Financial assistance will be provided for one representative per team for teams residing outside of Singapore.
- The organizers of the Challenge reserve to right to disqualify any teams that are found to have violated the spirit of the competition guidelines.
1. Compelling Value Proposition (20%)
- Clearly-defined, technically feasible solution for an identified need/social problem
- Innovation in product, service, or business model
- Clear market position and differentiation from competitors
- Evidence of validation* of the identified need/social problem and solution.
*Evidence of validation is evidence from customer/user/target recipient community feedback which supports your assumptions that the identified need/problem exists and your solution meets that need.
2. Social Impact (20%)
- High-impact social value proposition, be it in depth (extent of problem eliminated) or breadth (reach)
- Actively engages and works together with community to solve the social problem
- Feasible plan to clearly measure and evaluate social impact
- Social value proposition is aligned with the business model; impact scales as business scales
3. Market potential (20%)
- Viable addressable market size
- Clear identification of target customers and intended beneficiaries and how to reach them
- Scalable in terms of geography and solution, or across industries
4. Economic & Financial Model (20%)
- Feasible and realistic commercial model and funding plan
- Realistic financial projections for venture’s operations
- Realistic road map to financial sustainability
5. Team strength (20%)
- Members demonstrate entrepreneurial ability to adapt
- Demonstration of knowledge and understanding of target community
- Clear identification of key gaps in talent and experience and realistic plan to fill these gaps
1. Who is eligible to participate in the Challenge?
SVC Asia is open to anybody and everybody with an innovative idea that addresses social issues in Asia, regardless of age and nationality. However, the proposed ventures should be independent entities, i.e. not subsidiaries of an existing corporation or legally-linked to a government entity. Existing non-profits can participate, however they should propose a new venturing idea or a new plan to transform their existing non-profit operation into a financially more sustainable business.
2. Do I need to have an incorporated business before I can apply to the competition?
No, you do not need to incorporate/register your venture before applying. Be it just an idea or a newly started venture, you are welcome to apply. However do note that in the event you are picked as one of the prize winners, your venture has to be legally incorporated in order to receive the prize money.
3. If I have applied to the competition in the past, may I reapply?
If you applied for SVC Asia in the past, you are welcome to reapply as long as your idea or venture meets our eligibility criteria.
1. Is there a size limit to team formation?
While there is no limit to the number of members you can have on your team, our recommendation is to apply as a team of 3 to 6 members. It is also possible to first apply as an individual, but we encourage you to build a team to realistically help you execute your idea/venture.
2. How do I add team members on the Younoodle Portal?
Under the “Team” tab, you can input the email addresses of your team members and they will be prompted to fill in their personal details. They should not submit a separate entry.
3. Can my team include students from different universities and different countries?
Yes, there are no restrictions to team composition.
4. May I join more than one team?
You may only be a member of up to two different teams. However this is not advisable as there could be a conflict of interest and could signal a lack of commitment to the judges.
1. How do I submit my idea?
Click on the “Apply” button on the top right corner of the menu. You will need to create a Younoodle account to enter the challenge. If you already have a Younoodle account, there is no need to create a new one.
Once you open a Younoodle account, you would be able to access the questionnaire. You can also save your inputs and continue working on it at a later time.
2. Is the video submission compulsory?
No, it is not. However, it is highly recommended as it is meant to complement your questionnaire, and give you the opportunity to either show the team behind the venture, a working prototype (if you have), or the community you wish to impact. It could be in any form – narration, animation, direct pitch etc. Please contact us should you have any enquiries about the video submission.
3. How many entries can one team submit?
Each team should submit only one entry to enable the team’s idea to be developed to its full potential.
4. Can my team submit our business plan to another business plan competition?
Yes. However in the event of any win and receipt of prize money, please notify the organizers of the competition.
5. When do I have to submit my application?
The deadline for the competition is 15th May 2016, 2359 hrs (Singapore time).
Confidentiality of the Business Plan and Protection of Intellectual Property (IP)
1. Do the organisers sign a confidentiality agreement with the participant?
The organisers do not sign a confidentiality agreement with the participant. Participants can be assured that the organisers of the competition will strictly uphold the integrity of the competition, and our judges and mentors are advised to do the same. The business plan is solely used for judging purpose and the organisers will not disclose it to any third parties except to the judges. Participants are allowed to describe their business concept without fully disclosing their propriety assets.
2. Do the organisers retain the rights to my business plan and any IP?
No, the participants retain their rights to their business plans and any IP. In any case, the protection of these rights is the ultimate responsibility of each participant. Participants are urged to mark as “CONFIDENTIAL” on any portion of their entries which they deem to be confidential.
If you have any further questions, please contact us at firstname.lastname@example.org