As Singapore enters the next phase of its calibrated response to the ongoing pandemic, many are asking what direction the economy will take in a post-COVID-19 world.
NTUitive, the innovation and enterprise company of Nanyang Technological University, Singapore (NTU Singapore) is launching ideasinc 2020, a nationwide startup challenge to spur young and aspiring entrepreneurs to turn their innovative ideas into successful real-life startups that can contribute to the country’s future in the “new normal”.
Mr Inderjit Singh, Chairman of NTUitive and a Member of NTU’s Board of Trustees, says, “Post-COVID-19, companies have to reinvent their business models to manage the disruptions, health and environmental issues to operate in the new normal. During the crisis, new business models have already emerged. So, while the future appears hazy, the economy will eventually recover and new business opportunities will emerge. This crisis is a good time to look for gaps in the market upon which a sustainable business can be built. ideasinc is an excellent platform for aspiring entrepreneurs to experiment with such new ideas and to tap on the support offered by NTUitive to navigate the startup world in a guided manner.”