NTU EEE students’ start-up won top 12 Ideasinc Business Competition

Our Electrical and Electronic Engineering (EEE) undergraduates and graduate from NTU have placed top 12 in the 9-month long accelerator programme by Ideasinc. The accelerator programme stretches from February 2016 to October 2016. It is open to all youths in Singapore. The programme is extremely competitive with more than 200 entries every year. The NTU EEE team (Thevenin) fought hard to make it this far.

This start-up accelerator programme held by Ideasinc is a competitive programme that trains and prepares aspiring entrepreneurs to start their own business. Ideasinc strives to promote and develop an entrepreneurial environment to bring about economic and social development in Singapore through our very own homegrown enterprises. The programme also provides the opportunity for start-ups to gain initial funding through the many venture funds that Ideasinc partners with.

The NTU EEE team, Thevenin, went through weeks of gruelling workshops to hone their skills in both technical and business areas. The students were exposed to topics like business modelling, marketing, accounting and laws related to businesses. Students were also taught soft skills like communications and effective pitching. Thevenin’s business idea focuses on urban electric mobility in Singapore. Seeing as Singapore will become even more interconnected through the development of numerous MRT stations, Thevenin saw an opportunity. Short range transportation now becomes a necessity for a majority of the population. Thevenin’s line of products are aimed to meet this need and make short range transport easy and enjoyable for everyone. Thevenin progressed from NTU EEE’s very own Garage@EEE accelerator and made their way to the Ideasinc accelerator. Thevenin is aiming to develop an electric skateboard as their first product and branch out to other mobility devices (ie. electric wheelchairs).

Thevenin built a prototype of their transportation device and prepared their pitch deck for the selection round of the top 12 teams. After weeks of intensive work, Thevenin managed to pitch their business idea on 7 July 2016 to a panel of venture capitalists.

The judges were strict and judged the team based on a number of factors. They were: Product, business model, revenue model, potential market size, sustainability of the business and exit strategy.

NTU EEE’s Thevenin was up against several strong start-ups with promising enterprises. Thevenin stood out by having an implementable product, talented team, clear business plan and profitable exit strategy. These factors won the approval of the judging panel.

In the end, our NTU EEE students triumphantly made it to the top 12 in the Ideasinc accelerator.

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