IgniteAsia Singapore aims to spot the next generation of innovative talents. For the first time in Singapore, the Infocomm Development Authority of Singapore (IDA) has tied up with the Quintus Group and major international companies to launch a pan-Asian Internet business plan competition in...Singapore, 9 May 2000 | For Immediate Release
IgniteAsia Singapore Aims to Spot the Next Generation of Innovative TalentsFor the first time in Singapore, the Infocomm Development Authority of Singapore (IDA) has tied up with the Quintus Group and major international companies to launch a pan-Asian Internet business plan competition in Singapore and Hong Kong. This was announced today at the IgniteAsia press briefing held in Hong Kong at the Hong Kong Convention & Exhibition Centre. The other international companies who are partners in the competition include Bain & Company, Cable & Wireless HKT, CNN, Compaq, Indosuez W.I. Carr Securities, LabMorgan, Microsoft and Netvigator. Named IgniteAsia, the competition aims to identify Asian entrepreneurs with innovative Internet ideas and allow them to develop and hone their business plans and succeed as Internet start-ups.
IgniteAsia is open to the general public, companies, schools and universities in Asia. IgniteAsia Hong Kong commences on 9 May 2000, followed by IgniteAsia Singapore on 1 September 2000. Each competition will take place separately over a period of six months in both countries. Entrants from North Asia will come from Hong Kong, China, Korea and Taiwan. IgniteAsia Singapore will cover the South Asia region, with entrants from Singapore, Indonesia, Malaysia, Thailand, Philippines and India. Attraction events will also be held in specific Asian cities1 to draw participants to the competition. Interested participants from any of the above Asian countries can choose to join either the IgniteAsia Hong Kong or Singapore.
Entrants to IgniteAsia will compete by submitting a three page executive summary of their business plan via the IgniteAsia website. Semi-finalists will be shortlisted from the initial submissions and thereafter required to submit a business plan in standard format. At the concluding stage, finalists will compete by delivering a fifteen minutes presentation of their business plan. (See Annex A for fact sheet on IgniteAsia)
Prizes to IgniteAsia will be awarded in two categories - companies requiring seed money for first round funding; and those requiring second or third round funding. IgniteAsia will enable Asian Internet entrepreneurs to gain unparalleled access to the most important Internet investors in Asia, including major venture capitalists and private equity companies. In addition to these prizes, a special broadband category will be added for IgniteAsia Singapore to spot the next generation broadband talent in Asia. This exclusive broadband category is created for IgniteAsia Singapore with the aim to encourage and give recognition to both local and regional creative companies and individuals to develop broadband multimedia content in Singapore. The best broadband entry in Asia will be presented with a suite of attractive offerings. This will include the chance to have their content or application hosted on Singapore ONE2 for a period of six months or more. In addition, the winning broadband entry will get to participate in joint marketing and promotional activities, which will include opportunities to meet with potential local and international partners and investors.
"Through IgniteAsia Singapore, IDA hopes to encourage and attract enterprising individuals in Asia to exploit the potential of infocomm technology and broadband capabilities. The competition will spur more innovative ideas and activities to complement Singapore's goal of becoming a leading info-communications hub in the Asia-Pacific region. With such a diverse concentration of talent, innovation and activity surrounding infocomm technology in Singapore, these successful innovative talents could potentially use Singapore as a launch pad to the Asian market," said Dr Kaizad Heerjee, Assistant Chief Executive, Online Development Group, IDA.
Mr Richard Doggart, Managing Director Asia, Quintus Group added, "The Singapore Government has a strong commitment to the development of new technology and Singapore is the ideal hub from which to hold IgniteAsia. It is a centre of Internet entrepreneurial activity and has a strong focus on broadband. We are delighted to team up with the IDA and our other marketing partners to capitalise on this strength."
Registration for the IgniteAsia Singapore opens on 1 September 2000, and closes on 29 October 2000. For more information on IgniteAsia, please visit the competition website at www.igniteasiachallenge.com.
INFOCOMM DEVELOPMENT AUTHORITY OF SINGAPORE
Notes to Editor:
1The attraction events will be held in Hong Kong, Beijing, Shanghai, Seoul and Tapei for North Asia; and Singapore, Jakarta, Kuala Lumpur, Bangkok, Manila and Bangalore for South Asia.
2Singapore ONE was commercially launched in 1998. It comprises a broadband infrastructure that provides high-speed, interactive, and multimedia applications and services for users. Developed by both multi-national and innovative Singaporean companies, Singapore ONE services are designed to appeal to users of all ages and occupations, as well as businesses. Singapore ONE has the full support of the Singapore government, and is driven by the Infocomm Development Authority of Singapore, the National Science & Technology Board, the Economic Development Board and the Singapore Broadcasting Authority. More information can be found at http://www.s-one.gov.sg.
About The Quintus Group
The Quintus Group was formed in 1991. It has offices in London, Hong Kong and Singapore and an annual turnover in excess of $8 million. The Quintus Group specialises in the ownership and marketing of intellectual property rights. Its core business concentrates in two main areas - the ownership of sports & other leisure events and the ownership of television and film product. See Annex B for details on the Quintus Group.
About Infocomm Development Authority of Singapore
The Infocomm Development Authority of Singapore (IDA) is a dynamic organisation with an integrated perspective to developing, promoting and regulating info-communications in Singapore. In the fast-changing and converging spheres of telecommunications, information and media technologies, IDA will be the catalyst for change and growth in Singapore's evolution into a vibrant global info-communications technology centre. For more information, please visit www.imda.gov.sg.
For media clarifications, please contact:
Ms Jennifer Toh
Assistant Manager, Corporate Communication
Infocomm Development Authority of Singapore
Tel: (65) 211-0508
Fax: (65) 211-2227
Annex A: Fact Sheet on IgniteAsia - The Internet Challenge
IgniteAsia is a competition for non-public Internet companies looking for funding and services. It is a competition that anyone with a pre-IPO Internet business or an idea relating to the Internet can enter.
IgniteAsia is open to the general public, individual companies and students at Colleges and Universities around the region.
Those requiring Seed money / First round funding
Those requiring Second / Third round funding
The Quintus Group
Bain & Company
Cable & Wireless HKT
Indosuez W.I. Carr Securities
Infocomm Development Authority of Singapore
Five venture capital firms
CNN, Fortune Magazine
Mechanics: IgniteAsia will be run in two legs using Hong Kong as the hub for the first (North Asia) leg, and Singapore as the hub for the second (South Asia) leg. Entries will be accepted (in English, Traditional Chinese or Simplified Chinese) from June 1, 2000 through IgniteAsia's website: www.igniteasiachallenge.com
First Stage - Executive Summary
Companies or individuals may enter IgniteAsia by submitting a standard format executive summary online.
Second Stage - Business Plan
The best 50 companies, which will be selected by a committee will go through to the semi-final and will be required to submit a full business plan online.
Third Stage - Presentation
The best 15 entrants will be chosen by the Assessment Committee (comprised of a panel of experts including representatives of the seven marketing partners, 10 venture capitalists and five academics), and will be asked to prepare a 15-minute seminar to be presented at the Final Conference.
The final Jury, which will judge the 15 finalists, will be made up of the seven marketing partners, five academics, 10 venture capitalists and three European / US professionals.
Annex B – The Quintus Group
Anthony Bouchier and Peter Worth are the Executive Directors and principal shareholders of The Quintus Group.
Anthony Bouchier was with the Mark McCormack organisation (IMG) for six years and gained wide experience in the conception and implementation of international sponsorship and branding programmes during his six years there. A consultant to the organising committees of the 1992 and 1994 winter Olympic Games and later a producer of sponsored events for television, he has experience in the whole spectrum of the promotion of intellectual property rights.
Peter St J Worth FCA was with the Mark McCormack organisation for ten years as one of the first members of its European operation. He was also responsible for the sale and implementation of some of the major events controlled by the company including the World Ski Championships and the World Gymnastics Championships.
The Quintus Group was formed in 1991. It has offices in London, Hong Kong and Singapore and an annual turnover in excess of $8 million.
On Going Business
The Quintus Group specialises in the ownership and marketing of intellectual property rights. Its core business concentrates in two main areas - the ownership of sports & other leisure events and the ownership of television and film product.
A brief summary of the current businesses at Quintus is as follows:
ATP Seniors Tennis
The Quintus Group owns six dates on the ATP Champions Tennis Tour - The Honda Challenge in London, The Cathay Pacific Challenge in Hong Kong and the M1 Classic in Singapore. The Marsh Classic at the Hurlingham Club in London and the Champions Tour events in Melbourne and Sydney.
Quintus holds the international licensing rights to the 3D-signage technology Mirage used in all international Rugby matches in Europe and cricket Test matches in the UK and West Indies.
Quintus hold a 24% stake in a signage manufacturer SMF Displays (turnover $9 million) and represents SMF in Asia.
Quintus produced and owns a fifty two-part animation series that introduces young children to classic music. The programmes are licensed to the BBC and have been sold to more than sixty countries worldwide including syndication in the USA. Quintus hold the copyright to the show and raised the $16 million budget for its production.
Quintus is in production of a twenty-six part animation series to be delivered in early 2001 to Fox Television, British Sky Broadcasting and Sony Music. Quintus is the joint copyright holder of the series and raised the $8 million funding for the production.
Quintus has a joint venture company with top LA/UK film producers, Samuelson Productions (makers of Wilde, Tom and Viv and Arlington Road) for the financing of IMAX, large format Films. This consortium won the commission to produce the London IMAX Film from the British Film Institute. The London IMAX Film will star Stephen Fry and will be shot in summer 2000.
Rubberneck Productions Plc
Quintus controls a production company, Rubberneck Productions Plc. Amongst its current projects, Rubberneck is co-producing (with Danish producer, Nimbus Film) a film on Niels Bohr. It is in pre-production on a film about Lord Learie Constantine and has concluded a co-production deal with Working Title on the development of a film of the book Hannibal.
Rubberneck has three other children's series in development.
Quintus was appointed as the exclusive commercial consultant to K World, the Nordic digital television and online education service launched in late 1999, raising more than $4 million to date from companies such as Sun Microsystems, Oracle and Skandia Insurance.