At Ideas Inc. Business Challenge, 7 startups get over USD 470k worth of funding and awards
September 24, 2012 by Terence LEE
Schmeiden shows off Spyk at Ideas Inc. Plug a smartphone into Spyk, and it instantly becomes a tablet.
Schmeiden emerged as the top startup at Ideas Inc. Business Challenge, winning SGD 200k (USD 163k) in equity funding and a SGD 10k (USD 8.15k) cash prize. The awards were given out at a ceremony on 22 September at Resorts World Sentosa, Singapore.
Ideas Inc. is an annual elimination-style startup competition in Singapore that guides entrepreneurs under 35 from idea to execution. The top 15 startups would get SGD 15k to develop their prototypes while the top 6 would potentially get another SGD 50k. The event, started in 2010, is organized by the Nanyang Technopreneurship Center.
Schmeiden, which has developed a prototype device that converts a smartphone into a tablet, will enter into negotiations on the terms of the funding with Invention Capital and Jungle Ventures, each supplying SGD 100k. Read more
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