The Ultimate Start-Up Space
Martell V.S.O.P is giving away S$20,000 in seed capital and one year's rent of a 1,400 sq ft shop space at 29 Boon Tat Street to anyone in Singapore who wants a shot at entrepreneurship. All it takes is a clever idea of what you'll do with the shop space and you stand a chance to win it.
Last year's winners, Cherilyn Tan and Jamie Koh, set up The Chupitos Bar at Clarke Quay with the seed capital and shop space. I hear they are still doing well continuing their lease after the free year.
What I like about this competition is that it's open to any business idea that can make good use of the shop space. Many of the other grants available in Singapore are focused on particular industries with a significant amount of them focusing on new technologies. This competition gives a fighting chance to non-technical entrepreneurs.
What is different this year is that there's an added component of "crowdfunding" where the public gets to vote by pledging funds for the idea they think is the best. The best scoring ideas get judged by a panel that includes top local entrepreneurs Jimmy Fong, CEO, EpiCentre as well as Low Cheong Kee, Managing Director, Home-Fix D.I.Y.
The competition runs from 31 March to 15 May 2011. To participate drop your ideas off at http://ultimatestartupspace.com.sg/
