SMU names 60 finalists for S$2.5-M Lee Kuan Yew startup competition

Insider Spotlight

  • 60 global finalists chosen from a record 1,500+ applications
  • S$2.5 million prize pool for deep-tech, sustainability startups
  • New AI-powered screening marks milestone for entrepreneurship

Singapore Management University’s (SMU) 12th Lee Kuan Yew Global Business Plan Competition (LKYGBPC) has named 60 startups from more than 1,200 universities worldwide as finalists for its milestone SG60 edition.

Why it matters

The biennial contest, one of Asia’s largest university-led startup competitions, showcases early-stage ventures in urban solutions and sustainability — from airless NASA-inspired tires to hydrogen-on-demand and self-healing concrete.

By the numbers

  • 1,500+ applications spanning 91 countries, up 57% from the last edition.

  • 70% surge in entries from Asia.

  • S$2.5 million prize pool, the largest in the contest’s history.

PlastiFri (now Grale, a startup from Karlsruhe Institute of Technology, Germany, won the Infinity Prize at the 11th edition of the Lee Kuan Yew Global Business Plan Competition organized by SMU Institute of Innovation & Entrepreneurship in 2023./ Contributed photo

What they’re saying

“This year’s numbers reflect the growing confidence from startups globally in leveraging Singapore as a business and technology gateway to the rest of Asia,” said Shirley Wong, entrepreneur-in-residence at SMU IIE and chair of the Advisory Committee.

Evangelos Moschos, CTO of French ocean-tech startup Amphitrite, added: “Singapore is the world’s busiest transshipment hub where we can access leading shipping lines, investors, government agencies, and tap into a world-class R&D ecosystem.”

Driving innovation

This year’s competition introduces the DueAI™ Challenge, an artificial intelligence platform to enhance objectivity in startup screening — a first for the event. The system ran evaluations in parallel with over 220 human judges from 46 countries.

“The DueAI™ Challenge demonstrates how AI can transform entrepreneurial evaluation for investors and deliver greater scalability and objectivity while empowering human decision-making,” said Dr. Sze Tiam Lin, senior licensing advisor at SMU IIE.

The big picture

Finalists will convene at SMU’s city campus in Singapore from Sept. 29 to Oct. 2, 2025, for Grand Finals Week. Beyond pitching, they’ll engage in mentorship, networking with business families, and career exchanges with Singapore-based students.

Backed by partners including A*STAR, Indorama Ventures, and venture firms like Wavemaker Partners, the competition is positioning Singapore as a global hub for entrepreneurship and sustainability-focused innovation. —Ed: Vanessa Hidalgo

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