FAQ

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.

Junior Chamber International (JCI) is a non-profit organization of young people between 18 and 40 years old. It has members in about 124 countries, and regional or national organizations in most of them. It has consultative status with the Council of Europe, with the Economic and Social Council of the United Nations and with UNESCO. It encourages young people to become active citizens and to participate in efforts towards social and economic development, international cooperation, good-will and understanding.

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).

JCI Marina (Singapore)
JCI Singapore

As a leading youth organisation, the People’s Association Youth Movement (PAYM) has been reaching out to youths in Singapore from the ages of 12 to 35 since 1971. Over 40 years, the PAYM has been offering a wide spectrum of interesting and meaningful programmes and initiatives to excite, engage and empower the youths in creating a vibrant youth community.

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.

Check out PAYM Website for more information!

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.

Due to the current Covid-19 Pandemic, Venue and Time of event will be announced in Q1 2021, when social distancing ruling for the quarter is set.

SYEA is is a long term initiative, with two (2) years as its full cycle. The Awards and CSR initiatives are held biennially; while business programs are organised on an on-going basis.

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.

Though not an exhaustive list, these are some criteria the judges will evaluate your application on:

• 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.

Preliminary or selection rounds will be conducted after the nominations are closed. The award eligibility will be used as a criterion for the selection during the final round.

Once you pass the preliminary or selection round, your application will be reviewed and judged by the panel of judges. This will occur between December 2020 to January 2021. Results will be announced during the Awards Ceremony in March 2021.

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.

This competition is open to all Singaporean or Singapore Permanent Resident (SPR) Entrepreneurs that are 35 years old and below. Please refer to the award eligibility as a reference for participation.

Yes, you are but your co-founder is not. Also, please make sure we are made aware that there is a second co-founder.

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.

The United Nations Sustainable Development Goals (UN SDG) are the blueprint to achieve a better and more sustainable future for all. They address the global challenges we face, including those related to poverty, inequality, climate change, environmental degradation, peace and justice. The 17 Goals are all interconnected. To leave no one behind, it is important that we achieve them all by 2030.

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

Individuals who are nominated should be the founder, co-founder, or the current executive responsible for the day to day business or operations of the for-profit business. Typically, the right person will be the CEO or President of the company. Nominees should be in their role for a minimum of two years as of 1st January 2020. The business should be operational in Singapore for at least two years and registered with ACRA.

Accounting and Corporate Regulatory Authority (ACRA) is the Singapore national regulator of business entities, public accountants and corporate service providers.

Anyone who is associated with a successful entrepreneur can nominate a candidate. This includes spouses, colleagues, employees, bankers, friends, public relations managers, or entrepreneurs themselves. Self-nominations are encouraged as well. After all, no one knows the dimensions of an entrepreneur’s success better than the entrepreneur themselves.

Yes. The information received via the application form will be used by the SYEA Organising Committee (in connection with the administration of the award), the sponsors (non-financial related information), and the independent panels of judges.

There is no cost to join the online business programs organized by SYEA. However, there is a S$ 600 nomination fee if you choose to be nominated.

Nominees will be reimbursed with the nomination fees if they have opted to organise (1) community project with SYEA Alumni, JCI Marina and PAYM in the following year (ie, project organised in 2021 for 2020 intake of nominees). The reimbursement of the nomination fee will only be made after the completion of the project. At the point of reimbursement, you may choose to have it reimbursed or donated to to run a Community Initiative of your choice, run by the SYEA Alumni in collaboration with JCI Marina and PAYM.

Nominees will have to pay for the nomination fee in full first upon registration. Once PAYM has accepted to support your application you will be informed in writing and upon completion of the community project in 2021 the nomination fee will be reimbursed to you.

Nominations can be submitted via a secure online website.

Nomination form

We estimate that the total time commitment for finalists of the Award from October 2020 through March 2021 is between 8-12 hours:

Complete Nomination Qualifying Stage

Interview with Award Judges

One (1) Social Media Engagement Campaign

Finalist networking reception

Finalist features via video filming and photography

Awards Ceremony & Networking

For PAYM supported applications only – March to May 2021 (Implementation of Community Project). Duration is dependent on the project

The independent panels of judges include successful entrepreneurs, members from government agencies, and prominent leaders from academia and business sectors.

Judges will be featured progressively on the SYEA webpage.

Each category will have 10 finalists and there will be 5 award recipients for each category. Each independent panel of judges is allowed complete discretion in determining the categories and award recipients.

Unfortunately, no. While we acknowledge the hard work and dedication that goes into running and building a franchise, this award is for entrepreneurs who have built a company and worked on creative solutions that solves industry pain points.

If for whatever reason you feel your business does not fit into any category, please select the category that you think is the most appropriate or has the closest fit to your business model/industry. Should you require further clarification, you may reach out to us via email nominations@syea.cc

The more information you provide to the SYEA committee, the easier it is for the SYEA committee to acknowledge your business acumen. Please fill in as much information as possible. Information provided should portray your business and entrepreneurial journey in a certain light to stand out from the other nominees. Certain sections of the nomination form are mandatory and are highlighted with an asterisk.

We require evidence of your financial information to gauge the success of your business in the market. This element of the nomination is just one part of the judging process. It also allows us to discern your potential growth prospects with other industry reference as a baseline.

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.

No. There is a nominal fee to this Award event.

Finalists will be screened and shortlisted based on greatest relevance to the corresponding award category.

If that is the case, please just supply us with the management draft.

Yes, if you are a finalist we will ask you to submit a P&L statement.

Yes, we encourage any entrepreneur to nominate themselves for our awards.

All nominations must complete their applications by Monday, 30th November 2020.

Yes, we absolutely encourage you to attend the Award Ceremony. Everyone is on a different stage of their entrepreneurial journey. If your journey has just started, this is a fantastic opportunity to meet like-minded peers, network and fast-track your growth. There may even be business opportunities for you should the cards fall in your favour.

The continued success and growth of the Singapore Young Entrepreneur Awards is largely facilitated thanks to our internal (JCI Singapore), external sponsors, Grants and support from PAYM and partners.

All information provided by nominees is classified as “Strictly Confidential” and will only be viewed by the judging panel. We have strict confidential and non-disclosure agreements internally and with our judges, to ensure all information is treated in strictly confidential and it is only for the award use purpose only. Information for marketing collaterals for the Awards and articles for our website or local Singapore news sites will be requested separately and therefore agreed by you.

Yes, you can! You may indicate your interest in sponsorship for any of the SYEA initiatives – Business programs, Community initiatives or supporting the organising of awards in general. Please note that we regard any sponsorship whether in kind or in cash to the SYEA as a form of support towards the goals of the award. It will bear no impact or affect any decisions made on the nominations and selection of finalists and award winners across all award categories.

Please contact +65 8514 1736 or email partnerships@syea.cc.

You can pay via Internet/ATM Bank Transfer, Credit/Debit Card, Cheque, and PayNow.

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

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.

Apart from receiving the Awards Package Entitlements stated in Point no. 49, Winners are highly encouraged to volunteer/co-lead/organize one SYEA/CSR project the year they have received the award and contribute back to the community.

To change your submitted information, please write in to nomination@syea.cc