Frequently Asked Questions
- Central Group
- Emtek Group through its subsidiaries, DANA and Bukalapak
- Hong Leong Holdings
- Sunway Group together with its portfolio Sunway iLabs
- VNG Cloud
2. Can I participate in the SEA OIC?
You can apply if your team meets some or all of the following criteria:
- Developing or has developed technology/innovation that can directly address the challenge statements;
- Has ambition to scale within SEA or the conglomerates' respective markets
- Want to adapt your product-market fit by launching a pilot with a conglomerate
3. If my solution meets the requirements for more than 1 challenge statement, may I submit more than 1 application?
- Yes, you may apply to as many challenge statements that you wish to, and provide your tailored proposed solution for each challenge statement in the application form.
- Should you be chosen by more than one conglomerate to pilot with them, you need to ensure your team has sufficient resources to commit to the pilots.
4. Is there a maximum team size?
- You may have up to four people from each company to join the SEA OIC from start to end.
5. Are there any language requirements for participating in the SEA OIC?
- There are no strict language requirements, but you should be fluent in written and spoken English in the context of business and technology as that will be the primary language for communication with the organiser and the conglomerates.
- It will be a bonus, but not necessary if you are also fluent in the local language of the respective conglomerates e.g. Thai language, Indonesian, Malay and Filipino.
6. What is required to participate in the SEA OIC?
- Interested parties will need to submit a 200-word write-up with details about your solutions. You may also choose to submit a short video (2 mins, max) to introduce your team and solution.
- As part of the selection process, you will also be required to undergo a video interview during the selection period from 8 to 12 Mar 2021.
- At least two participants from each company are required: one co-founder or senior management and one pilot project lead to be involved and committing to the success of the pilot.
7. What is the definition of "startup", "scaleup" and "innovative SME"?
- Startup: a company with at least an MVP or has raised seed funding
- Scaleup: a company which has gained significant traction to their existing market or category or raised a Series A
- Innovative SME: a company with employment less than or equal to 200 or revenue less than or equal to S$100 million, with the in-house technological capability to deliver the proposed solutions for the selected challenge statement(s)
8. Is Artificial Intelligence/ Machine Learning a requirement?
- Although this is preferred, it is not a strict requirement.
9. How will participating in the SEA OIC benefit my company?
- Opportunity to pilot with a conglomerate, to gain market validation, and accelerated market entry.
- Up to 6 companies will be awarded a Startup SG Grant of up to S$20,000
- Access to co-working and meeting spaces at Ravel Innovation’s Innovation Campus in Singapore, in addition to other perks and benefits such as Google Cloud credits, etc.
10. What is the purpose of a pilot?
- The pilots are intended to be limited in scope, and yet able to demonstrate the solution's capabilities.
- Together with your conglomerate pilot partner, you will mutually agree on the aspects to be piloted: quality, user acceptance, technology features, integrations.
- This is a low-risk opportunity to further develop your technology and gain client or market insights.
- The pilot with the conglomerate should be scoped to be kept within a reasonable financial cost to the startup, scaleup or innovative SME and without/at minimal cost to the conglomerate.
11. What is the Startup SG Grant?
- This grant provides financial support to the selected winners for solution development and/or the execution of a pilot with the conglomerates to address the respective challenge statements.
- Successful applicants will receive the approved grant quantum in at least 2 tranches, at up to 50% of the awarded grant quantum per tranche according to the achievement of agreed project milestones.
- The grant period is 12 months.
12. Who is eligible for the Startup SG Grant?
- Singapore-based startups and scaleups or
- Foreign companies will need to register or have registered a private limited company in Singapore and can accept additional milestones that involve anchoring key developmental works in Singapore
13. What if I am selected as a winner but am not eligible for the Startup SG Grant?
- You may still conduct the pilot with the conglomerate but you would have to financially support the entire pilot.
- However, if you are an innovative SME that meets the local shareholding criterion, you may apply for the Enterprise Development Grants for overseas pilots, subject to the respective eligibility criteria and support level.
- Note: The same pilot scope may not be claimed twice under different grants.
- Beyond the initial pilot scope, if both the conglomerate and the startup, scaleup or innovative SME agree to extend the scope of engagement, you may separately enter into a commercial agreement with the conglomerate.
14. Who can I seek assistance from to ensure my pilot project runs smoothly?
- The conglomerates' respective pilot teams will be working with you closely throughout the pilot phase
- Ravel Innovation is a source of support connecting you to the innovation ecosystem in general, including support in setting up office in Singapore
15. What are your policies on intellectual property (IP) protection and confidentiality obligations?
- The protection of intellectual property rights in the submitted solution is the sole responsibility of the applicant. Once the solution is submitted and selected for pilot with the challenge sponsor, it will be a private agreement between the challenge owner and selected companies.
- If you would like to share intellectual property rights which may contribute to the value proposition of the solution, it will be advisable to consider getting appropriate legal advice prior to making any disclosures to the organisers.
16. Will I have to travel to the respective conglomerate’s country?
- You will be required to participate in the SEA OIC virtually until physical presence is possible and required. This includes discussions and meetings with the conglomerates’ respective pilot teams and Ravel Innovation, conducting of the pilot and other go-to-market activities where applicable.
17. Who is the organiser of the SEA OIC?
- The SEA OIC is organised by Enterprise Singapore.
Enterprise Singapore is the government agency championing enterprise development. We work with committed companies to build capabilities, innovate and internationalise. We also support the growth of Singapore as a hub for global trading and startups, and build trust in Singapore’s products and services through quality and standards
- Ravel Innovation is the appointed open innovation intermediary and challenge organiser coordinating with Enterprise Singapore and the various conglomerates on the interview and selection of the solution applicants and other aspects of the SEA OIC.
Ravel helps Asia’s most progressive organisations unravel the complexities of innovation by leveraging frontier entrepreneurship and global ecosystems.
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