CurioX Biotech triumphed at the 8th Start-Up@Singapore business plan competition, taking home the trophy and S$30,000 in prize money. Founded by researchers from the Institute of Bioengineering and Nanotechnology (IBN), CurioX has developed a technology, called DropArray, which accelerates life science and drug discovery research. The 8th Start-Up@Singapore competition had a record number of 902 participants, making it the largest in the competition's history. Mr Teo Ser Luck, Parliamentary Secretary, Ministry of Community Development, Youth and Sports graced the Prize Awards Ceremony, which was held at the DBS Auditorium. Start-Up@Singapore promotes the spirit for entrepreneurship and encourages new companies to start up.

Led by Dr Kim Namyong, CurioX consists of team members Dr Leck Kwong Joo, Mr Tay Kae Fong and Mr Lee Yong Yeow. DropArray is a unique miniaturisation platform, which allows researchers to conduct bioassays1 significantly faster and cheaper, while using lesser materials and maintaining the same level of flexibility and convenience as conventional platforms. CurioX envisions putting the DropArray into life sciences laboratories around the world, speeding up the discovery of for life-changing therapeutics.

The winner of the Youth Category (14 to 24 years old) was Agrotech, a company made up of students from Hwa Chong Institution. Agrotech has developed a product that treats ornamental plants infected with Ralstonia solanacearum. This is a common pathogenic bacterium that causes plants to wilt and has resulted in the devastation of crops. Agrotech is led by Mr Lee Li Long, with 8 other friends and team members, Mr Poh Hong Wei, Mr Oei Jun Long, Mr Ee Cheong Seng Elson, Mr Tay Jia Xi, Mr WuShao Zong Sam, Mr Pang Wei Pin, Mr Soon En Loong and Mr Lee Cheng Yi.

For the General Category, the first runner-up team was J-Invent Inc, who are developing products using polarisation image sensors. Targeted at the security and defence industries, such products can be used to detect latent fingerprints and camouflaged vehicles. The second runner up was TMN Bio-fuels, who will produce high quality bio-diesel, with lower CO2 emissions. The company's supply chain will engage India's rural community, helping to increase living standards here. For the Youth Category, three merit awards were given to Envirob, Fibertex and Healus. See Annex 1 for a brief description of all finalist teams.

Out of a total 234 teams, 12 finalists (6 from the General Category and 6 from the Youth Category) presented their full business plans at the grand finals, which took place on 26 May 07. In several cases, the semi-finals judging was done via video conferencing, as some teams were overseas.

"The calibre of participants this year is very high. I believe that quite a few teams have potentially fundable business plans and I am confident that some of these will translate into real start-ups over the next 6 months," said Associate Professor Wong Poh Kam, Co-chairman of Start-Up@Singapore Steering Committee.

Prizes, prizes and more prizes!

In addition to the trophy and S$30,000 in prize money, CurioX will represent Singapore in the Intel-Berkeley Technology Entrepreneurship Challenge. This is an international championship event, where teams present their business and technology commercialisation plans. (See www.entrepreneurshipchallenge.org/ for more details). Past Start-Up@Singapore winners have done well at this event. Biomers won the US$7,500 Technology Impact Prize for its translucent orthodontic braces, and Infinity won the US$7,500 Global Market Impact prize with a new lens technology.

The first runner-up J-Invent will receive $10,000 and the second runner-up, TMN Bio-fuels, will receive $5,000. Within the Youth Category, the merit award winners will take home $1,000 each. However, more than just monetary prizes, winners and participants can leverage upon the business solutions and support services from Start-Up@Singapore incubator partners. Over S$300,000 will be given out through cash and in-kind prizes. See Annex 2 for details on prizes.

For Entrepreneurs by Entrepreneurs

Start-Up@Singapore is organised by undergraduates from the NUS Entrepreneurship Society, with guidance from NUS Entrepreneurship Centre and NUS Business School Alumni Association. It is the world's first fully student-run national business plan competition. The organising committee consisted of a team of 37 students who have managed the entire competition, including organising the events, seeking sponsorship, handling the IT requirements of the website, marketing and setting up the judging panels.

"Organising the 8th Start-Up@Singapore competition has been a fantastic learning experience. It has been fun, stressful and educational - all at the same time. Moving forward for next year, we hope to be able to hit the 1,000 participant mark. In order to do this, the team will have to work hard to get in the funds, bring in new sponsors and find dynamic mentors, speakers and judges," said Mr Lee Jia Xing, co-lead of the 8th Start-Up@Singapore competition.

The 8th Start-Up@Singapore competition was launched in October 2006, and participants have honed their business skills at a number of Start-Up@Singapore events. Through events such as forums, workshops and boot camps, participants have learnt how to write comprehensive business plans, participate in elevator pitch sessions and present to investors. See Annex 3 for highlights of the 8th Start-Up@Singapore business plan competition.

The sponsors and partners of the 8th Start-Up@Singapore business plan competition are Ascendas, DBS, JTC Corporation, Microsoft, Netgear, Singtel, SMRT and ST Engineering.

Press Contacts:
Chan Yiu Lin
Greener Grass Communications
C +65 976 55 897
T +65 677 79 363
E yiulin@greenergrass.com.sg

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