Revamped THiNK BIG Competition To Light Up More Business Ideas

Posted on  12/07/2011  |  Media Centre

Written by Aziz Idris
Tuesday, 12 July 2011

Bandar Seri Begawan – Add spark to your ICT business ideas and participate in the new THiNK BIG Ignite 2011 Business Plan Competition, which promises to be bigger and better in terms of cash prize money and additional categories.

Organised by iCentre, the competition – previously named THiNK BIG Business Plan Competition – has since 2008 been seen as a successful programme. Yesterday saw the rebranding of the programme in a ceremony officiated by Datin Hjh Adina binti Hj Othman, the Deputy Minister of Culture, Youth and Sports.

Three years on since the inception of the competition, iCentre felt the time was ripe for the programme to undergo a name change and upgrade. The word “ignite” was introduced with the intention of adding spark to the business ideas of those participating in the competition.

According to iCentre, the competition is merely the first in a series of steps that the centre provides as participants start their journey towards becoming a successful entrepreneur. To coincide with the rebranding, the organisers also announced the introduction of a new category and additional awards. This means participants can expect bigger cash prizes, with a total of B$68,000 to be awarded to the prize and award winners.

The new category, called the “International Category”, supplements the current ICT Open Business Plan category and College and University Students category. iCentre is keen to reach out and build more potential collaborations between local entrepreneurs and other regional ICT entrepreneurs hence the International category introduced.

Three new special awards are also added to this year’s competition, breaking the boundaries of ICT iCentre is introducing the “Multimedia Awards”, “Mobile Application Award” and “Outstanding Rookie Award”. Each business plan will be considered for special awards according to the right criteria. The Outstanding Rookie Award is meant to recognise new participants in the open category who show outstanding initiative and remarkable skill in their business plan ideas.

“The term `THiNK BIG Ignite’ evokes feelings of hope, aspirations and confidence,” said Datin Hjh Adina in her keynote address yesterday. “For this I commend the organisers who, through competitions such as this, demonstrate their belief and trust in the people of Brunei, in particular the ICT entrepreneurs, to be able to come out with products of their own creations.”

She further said that this is in line with the “survival psychology” of the nation to be self-reliant and more competitive in the regional and international arenas.

In further describing Ignite 2011, Dr Lily Chan, the CEO of NUS Enterprise said, “We have seen the improvements in the quality of business plans in writing and presentation, and successful start-ups mushrooming. Throughout the three years, the number of submission has increased and we see a continued increase in youth participating each year.”

This year’s competition has attracted additional award partners for the Special Awards. The Authority for Info-Communications Technology Industry of Brunei Darussalam (AITI) and DST Group have agreed to be part of the competition, giving special awards in Multimedia Award and Mobile Application Award. Microsoft Corporation, Bank Islam Brunei Darussalam (BIBD) and Universiti Brunei Darussalam will also continue to support the competition.

Participants have until October 13 to submit their first executive summary. Each business.plan will be read and adjudged by a committee, and the shortlisted participants will be announced on October 19.

All business plan participants are able to access the workshops, and the short-listed participants will be able to attend the THiNK BIG Innovate 2011 Forum and mentoring sessions organised by iCentre, allowing them to gain insights and sharpen their entrepreneurial skills as they prepare and finalise their best business plans for submission.

For the THiNK BIG Innovate 2011, iCentre will again collaborate with regional forum convener Asia Inc Forum, which will bring various business IT experts to discuss the challenges and opportunities faced by the region, based on the theme “Innovation… Inspiring and Driving Change”.

The event will be held at The Empire Hotel and Country Club on October 20. — Courtesy of Borneo Bulletin

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