FAQ
— Frequently-asked questions
The award aims to recognize successful youth entrepreneurs (age 35 years or below) who will redefine sustainable innovation and champion ripples of impactful initiatives; while forging meaningful partnerships in empowering young active citizens in line with the UNSDG (United Nations Sustainable Development Goals).
1 —What is SYEA?
Singapore Young Entrepreneurs Award (SYEA) is a youth empowerment initiative founded by a team of youth volunteers, passionate in making an impact in the business world. SYEA is more than just an award but aims to honour Singaporean Young Entrepreneurs that have made a social impact to the community or society. Besides that, SYEA empowers finalists and awarded recipients with reputable industry judges’ endorsements, local & international networking, mentorship, and exposure to venture capitalists. Furthermore, SYEA’s aim is to create a platform for young entrepreneurs to gain invaluable exposure, connect with like-minded individuals and to foster collaboration.
SYEA is founded by JCI (Marina) Singapore and co-organised with People’s Association Youth Movement (PAYM) to empower local youth entrepreneurship. Key Ecosystem Partners include *SCAPE, NTUC USME, and OSG Youth Alliance to empower local youth entrepreneurship. Key Ecosystem Partners include *SCAPE, NTUC USME, and OSG Youth Alliance.
Click here to watch a short 2-minute video to understand more about SYEA.
2 — What and who is JCI (Marina) Singapore?
JCI (Marina) Singapore is one of the chapters of JCI Singapore. It is also the founding chapter for the inaugural initiative to empower youth entrepreneurs, Singapore Young Entrepreneurs Award (SYEA).
3 — What and who is the People’s Association Youth Movement (PAYM)?
This communal bonding is further reinforced through the Youth Executive Committees (YECs) at the Community Clubs (CCs). Youth Club members are elected into the YECs which involve them in various programmes and activities, and with the grassroots organisations to implement community development projects for residents in their respective constituencies.
The YECs under the umbrella of PAYM build social capital amongst youths, and through the youth by helping them to enrich the lives of others. The PAYM’s youth engagement framework includes programmes targeting youth profiles, interest-driven activities to meet the diverse interests of youths, opportunities for youths to do their part for the community, and highpoint engagement events to bring more youths together. A multi-prong approach is adopted for PAYM’s youth engagement framework.
4 — When will SYEA be held?
SYEA is a long-term initiative, with each of its full cycle done in two (2) years.This cycle will repeat for the upcoming years.
The inaugural cycle of SYEA commenced in year 2020, comprising of three (3) Key Pillars:
- SYEA Community (The Award)
Run biennially, The Award aims to honour and empower local youth entrepreneurs who have achieved both commercially outstanding results and socially impactful initiatives through their business in the new norm.Formed by Qualified Nominees and eventual Award Winners, a community of SYEA Alumni will be formed to continue inspire and mentor the next cohort(s) of nominees and winners through SYEA Commerce in 2022 and beyond. They will also be leading CSR initiatives in 2021 as SYEA Alumni, together with JCI Marina, PAYM, SYEA Partners and Sponsors.
- SYEA Commerce (Business Programs)
Creation of a sustainable Business Ecosystem through ongoing, exclusive masterclasses, mentorships, potential VC Matchmaking, international and local networking sessions. - SYEA Care (CSR Initiatives)
A Series of Corporate Social Responsible Initiatives in line with (but not limited to) the selected UNSDG Goals, driving health and well-being, quality education, women empowerment, jobs creation, digitalisation and encouraging execution of a responsible supply chain in 2021.Due to the current Covid-19 Pandemic and social distancing ruling, Business Programs will be held online on a monthly basis, till further notice.
The Awards Ceremony will tentatively be held on 20th March 2021. Depending on the Social Distancing ruling by Q1 2021, the SYEA organizing committee reserves the rights to shift the Awards Ceremony Online and/or to defer the actual Awards to a further date in 2021.
5 — Where will the Awards be held?
6 — How is the program going to be like?
In the first year, SYEA will be held as an award and the second year will be a Corporate Social Responsibility (CSR) project. This cycle will repeat for the upcoming years.
Business Programs will be held on a monthly basis. Due to Covid-19 Pandemic, all Business Programs will be held online as Webinars until further notice.
You will be part of a stellar cast of entrepreneurs who share similar passion for life, having a vision for the future, an eye for innovation and a desire to inspire as you do. You will also be able to forge close bonds, exchange ideas and create business opportunities in a relaxed and fun setting with finalists and winners who will be attending the Awards. Once part of this initiative, you will be around an influential cohort of young entrepreneurs who will have access to stakeholders in both business and government sectors.
7 —What is the nomination criteria?
8 — What are the judging criteria?
- Entrepreneurial Spirit: The judges are looking for your passion, vision, and mission for yourself and for your company. The person should demonstrate personal commitment in the face of adversity to bring the business through.
- Financial Performance: Turnovers and growth are important, but so is the sustainability of the business model. To demonstrate your company is mature enough with the current and future growth.
- Innovation: Describe if your business is a leader or pioneer in its field and/or is it staying ahead of the curve through disruption. In some instances, disruption may need to be measured more by the way the business operates rather than by a specific technology that gives it a competitive edge.
- Use of technology for business advancement: Describe if your business makes use of any technology to help the business grow or reach out to target customers. Either as an enabler or a key focus.
- Social media engagement: One social media engagement task assigned by the SYEA Organising Team.
- UN SDG goals supported in business model/business practice: Describe if your business supports any of the UN SDG goals in the business model or business activities.
- Long Term Business Strategy: Describe your company’s long term or future business strategy and how will you bring your company to the next level.
9 — Is there a preliminary round or selection round?
10 — When is the final round?
11 — What happens after I submit my form?
STAGE ONE – Nominee Submission
Nominees to submit all the required documents/information to be shortlisted.
STAGE TWO – Shortlisting Nominee
All submitted entries will go through a thorough shortlisting process to ensure it meets the nomination criteria.
STAGE THREE – Social Media Engagement
One simple social media engagement task will be given to all qualified nominees, which contributes a small portion to the final scoring of the award.
STAGE FOUR – On-Site/Online (Video Call) Judging
Shortlisted nominees will be required to meet with the panel of judges at a venue for an interview. Interviews will be carried out based on the Judging Criteria. Due to Covid-19, venue of interviews will be announced on a later date.
STAGE FIVE – Final Selection
The Panel of Judges will inform the SYEA Committee on the awarded winners. SYEA will then notify the award winners with details for the Award Ceremony.
12 — Who can participate?
13 — I’m the co-founder of a business and was born in or after 1985 as of 2020. However, my co-founder was born in or before 1984. Will I still be eligible to be a nominee?
14 — Who are we looking for?
We are looking for:
- Young entrepreneurs that have started a new business using creativity in product development, service development, and in their approach to the market.
- Young entrepreneurs who have taken an existing business and incorporated creativity to solve a problem, or change a process, to create positive change in their business operations.
- Young entrepreneurs who have used their imagination in solving problems and in their approach to the market and at the same time, in line with United Nations Sustainable Development Goals (UN SDG)
These awards will showcase and honour young entrepreneurs who have contributed to our community.
15 — What is UN SDG?
Goal Number | Objective | Description |
1 | NO POVERTY | Economic growth must be inclusive to provide sustainable jobs and promote equality. |
2 | ZERO HUNGER | The food and agriculture sector offers key solutions for development and is central for hunger and poverty eradication. |
3 | GOOD HEALTH AND WELL-BEING | Ensuring healthy lives and promoting well-being for all at all ages is essential to sustainable development. |
4 | QUALITY EDUCATION | Obtaining a quality education is the foundation to improving people’s lives and sustainable development. |
5 | GENDER EQUALITY | Gender equality is not only a fundamental human right, but a necessary foundation for a peaceful, prosperous and sustainable world. |
6 | CLEAN WATER AND SANITATION | Clean, accessible water for all is an essential part of the world we want to live in. |
7 | AFFORDABLE AND CLEAN ENERGY | Energy is central to nearly every major challenge and opportunity. |
8 | DECENT WORK AND ECONOMIC GROWTH | Sustainable economic growth will require societies to create the conditions that allow people to have quality jobs. |
9 | INDUSTRY, INNOVATION, AND INFRASTRUCTURE | Investments in infrastructure are crucial to achieving sustainable development. |
10 | REDUCED INEQUALITIES | To reduce inequalities, policies should be universal in principle, paying attention to the needs of disadvantaged and marginalised populations. |
11 | SUSTAINABLE CITIES AND COMMUNITIES | There needs to be a future in which cities provide opportunities for all, with access to basic services, energy, housing, transportation and more |
12 | RESPONSIBLE CONSUMPTION AND PRODUCTION | Responsible Production and Consumption |
13 | CLIMATE ACTION | Climate change is a global challenge that affects everyone, everywhere. |
14 | LIFE BELOW WATER | Careful management of this essential global resource is a key feature of a sustainable future. |
15 | LIFE ON LAND | Sustainably manage forests, combat desertification, halt and reverse land degradation, halt biodiversity loss. |
16 | PEACE, JUSTICE AND STRONG INSTITUTIONS | Access to justice for all, and building effective, accountable institutions at all levels. |
17 | PARTNERSHIPS | Revitalise the global partnership for sustainable development. |
Source: UN SDG
16 — Which UN SDG Categories are selected for SYEA 2020?
Award Category | Goal Number | Objective |
Good Health and Well-being | 3 | GOOD HEALTH AND WELL-BEING |
Quality Education | 4 | QUALITY EDUCATION |
Women Empowerment | 5 | GENDER EQUALITY |
Jobs Creation and Economic Growth | 8 | DECENT WORK AND ECONOMIC GROWTH |
Innovative Industrialisation | 9 | INDUSTRY, INNOVATION, AND INFRASTRUCTURE |
Responsible Supply Chain | 12 | RESPONSIBLE CONSUMPTION AND PRODUCTION |
17 — Who is eligible?
18 — What is ACRA?
19 — Who can submit a nomination for consideration?
20 — Are application forms kept confidential?
21 — Is there a fee/cost associated with SYEA?
22 — What is the nomination fee reimbursement criteria/eligibility?
23 — How will the nomination fee be reimbursed?
24 — How do I submit a nomination for myself or someone?
25 — What is the required commitment for nominees?
26 — Who are the judges?
27 — Who are the Judging Panel for SYEA 2020?
28 — How many finalists and award recipients will be selected?
29 — I am a franchisee, will I be able to participate as a nominee?
30 — What if my category is not there?
31 — Do I need to fill in all of the information in the nomination form?
32 — Why do you need my financial information and how will you treat it?
We treat all your financial information with respect and confidentiality. No financial information of your company will be shared with any company, the SYEA website or Awards without prior permission from you. Your company financial information will not be shared with any third parties as well.
Only the SYEA Nominations and Judging committee, and Judges has oversight of the information and we will safely dispose of these documents after the award has been finalised.
33 — Are tickets to the Award free for finalists?
34 — Can I be a finalist and win in more than one award category?
35 — What if I have not finalised my financials yet?
36 — Do I need to submit a profit and loss statement?
37 — Can I nominate myself?
38 — When must the nomination entry be completed by?
39 — Can I attend the Awards Ceremony even if I am not a finalist?
40 — How do you fund these awards?
41 — What is your policy on Commercial Confidence?
42 — Can my company sponsor SYEA or the Award if I’m a nominee?
Please contact +65 8514 1736 or email partnerships@syea.cc.
43 — What are the options for Payment of nomination fees?
If you wish to make payment via Internet/ATM Bank Transfer, please take a photo/screenshot of the transaction and email it to nominations@syea.cc.
Bank: DBS Bank Ltd
Account Name: Marina Junior Chamber
Account No.: 072-028218-3
Remarks/Notes to enter if applicable: “SYEA –
For Cheque it must be crossed, and then take a photo of the cheque and send it to nominations@syea.cc before you drop it off at your nearest DBS Branch. Write down the SYEA Bank Account Number behind the cheque.
Payment only accepted in Singapore Dollar.
PayNow: S88SS0026K
44 — What prizes can award winners look forward to?
As an award winner, you will receive and be entitled to the following:
- Up to S$3,000 worth of digitalisation packages for your business.
- A 3-min video interview, to be featured on SYEA’s social media.
- Company/founder feature on local media, SYEA and partner’s media platforms.
- A guaranteed publicity activity featuring the 5 winners from each award category.
- Exclusive access to private business networking events, dialogues and VC Matchmaking.
- Opportunity to lead as the pioneer batch of SYEA Alumni who will spearhead CSR initiatives in 2021.
In addition, nominees and/or awardees may choose to pay a nominal fee of S$2,000 to utilise a PR Media package worth S$5,000.
45 — What’s next for the award winners after the event?
46 — What if I need to make changes after I have submitted a nomination?
Get in Touch
For enquiries
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Address
112 Middle Road, #04-01,
Midland House, Singapore 188970
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