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SIM YEN Innovators Challenge 2021

SIM YEN Innovators Challenge 2021 - Generate, Validate, Pitch

Students validated their start-up ideas in the exciting two-day ‘SIM YEN Innovators Challenge 2021’.

As some of us have seen from the famous K-Drama ‘Start-up’, coming up with a useful and impressive solution to a problem is no easy feat, similarly, or maybe even tougher, is confidently and clearly pitching your business idea across in a way that is attractive and impactful to potential investors. Despite the challenges, a few individuals have braved the competition in this year’s ‘SIM YEN Innovators Challenge 2021’.

Formerly known as ‘SIM YEN Slay It Hackathon’, the ‘SIM YEN Innovators Challenge’ is an annual two-day flagship competition where like-minded individuals come together to pitch their start-up ideas to a panel of judges and win exciting prizes.

This year we were joined by eight esteemed mentors - Dione Song (COO of Love Bonito), Charmain Tan (Founder & CEO of QuickDesk), Ezekial Chiew (Founder of Asia Forex Mentor), Ee Ling Lim (Co-Founder of Smarter Me), Jack Hua (COO of Ovvy), Joseph Gan (CEO, V-Key), Myron Hoh (Founder of SeniorSAYS), Steven Ong (Managing Director of ForwardLeap Training Lab), as well as four established judges - Christina Teo (Chief Builder, she1K), Nicholas Lim (Co-Founder & CEO, Outside Tech), Zhou Wentong (President of Singapore Chamber of Commerce & Industry) and Kheng Lian Ho (Founder & Managing Partner of Kollective Group, and Co-Founder of Open Circles).

Pitch Showdown

There were 5 teams this year. Among them was FOODX SG and their digital AR menu. The first in Singapore, FOODX SG’s innovation tackles the issue of buyer's remorse, allowing customers to visualise the entire menu and saving them a wasted trip to the restaurant. Sellers on the other hand are offered customer analytics on their dishes, aiding them in deciding what products to upsell. Team FOODX SG finished in second place.

Coming in third place was Team Your Mind Matters. With a mobile application that aggregates mental wellness services from yoga and meditation workshops to educational sharing on mental health issues, the team’s product provides a one-stop platform for easy and reliable access to those who wish to improve their mental wellbeing.

Innovate ideas - Who wins?

Team S conquered this year’s Innovator Challenge. They impressed the judges with their business pitch on the sale of coconut charcoal briquettes. Backed up with intensive research and familiarity with the Indonesian market, it was clear that it was a business model that would achieve a high ROI and NPM. Not only that, it is a well sought product that is more environmentally friendly than its alternatives. Needless to say, the judges were convinced that it was a viable business idea.

Special thanks

The event of the work year for SIMYEN has rounded off successfully. Special thanks goes out to the eight esteemed mentors and the four established judges for supporting the event. We would also like to thank our supporting partners for making this event possible and the participating teams for putting up a good fight. Last but not least, for the audience that attended the event, we hope that there were helpful takeaways from the event that will be beneficial in your entrepreneurial journey.

Stay tuned for our future events!

“I’m convinced that about half of what separated successful entrepreneurs from non-successful ones is pure perseverance.” - Steve Jobs. So do not be disheartened by your failures as they are only stepping stones to your success.

Rachel Phua

Year 1 student

SIM - University of London

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