Global Hunt for Urban Innovation as LKY Business Plan Competition Opens

SINGAPORE, January 15, 2025 – Applications are now open for the 12th edition of the Lee Kuan Yew Global Business Plan Competition (LKYGBPC), one of Asia’s most prestigious platforms for fostering innovative urban solutions. Organised by Singapore Management University’s (SMU) Institute of Innovation and Entrepreneurship (IIE), this year’s competition focuses on Urban Solutions and Sustainability, inviting groundbreaking ideas to revolutionise city living.

For the first time, Singapore’s Agency for Science, Technology and Research (ASTAR) joins as the official Scientific Knowledge Partner. This collaboration will see ASTAR’s Innovation & Enterprise (I&E) group providing mentorship, evaluating scientific excellence, and working with participants to turn visionary ideas into practical solutions.

“ASTAR is excited to support and nurture young founders in creating transformative solutions to address global urbanisation challenges,” said Irene Cheong, Assistant Chief Executive of Innovation & Enterprise at ASTAR.

Expanded Networks and High-Stakes Innovation

The competition will culminate in BLAZE, a week-long innovation festival in Singapore from 29 September to 2 October 2025, coinciding with the Singapore Grand Prix. Fifty finalist teams from around the globe will compete for a prize pool exceeding S$1 million and gain direct access to Southeast Asia’s business leaders and venture capitalists.

“BLAZE Week creates an extraordinary platform for start-up founders to engage with global leaders,” said Shirley Wong, Chairperson of the LKYGBPC Advisory Committee and Entrepreneur-in-Residence at SMU IIE.

Events during BLAZE include exclusive consultations with venture capital firms, networking sessions with Southeast Asia’s business families, and live pitches for top prizes in Beta and Infinity categories.

Proven Success and Growing Influence

Since its inception in 2002, LKYGBPC has become a launchpad for globally recognised start-ups. The previous competition attracted over 1,000 entries from 1,100 universities across 77 countries. Alumni have collectively raised over US$1 billion, with many establishing bases in Singapore for regional growth.

Professor Lim Sun Sun, SMU’s Vice President of Partnerships and Engagement, highlighted the competition’s focus: “The upcoming edition addresses critical urban and sustainability challenges, driving concrete, positive change for a better tomorrow.”

Eligibility and Application Details

University student founders and recent alumni can compete individually or in teams across two categories:

0 to 1: For pre-revenue teams developing disruptive innovations.

1 to Infinity: For revenue-generating start-ups up to Series A funding.

With a history of driving innovation and fostering collaboration, LKYGBPC is set to further solidify Singapore’s position as a leading hub for deep-tech entrepreneurship and urban innovation.