Finspiration Challenge 2023 |
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Junior Achievement Singapore cordially invites your students to participate in The Finspiration Challenge 2023, a challenge focusing on supporting students taking ownership of the world they live in and being involved in building a more financially capable youth.
The Finspiration Challenge provides a platform for students to develop ideas that can help make the world a better place. The goal of this competition is to interest, inspire, motivate and challenge students to develop and pitch innovative solutions to make learning relevant financial life skills for today’s youth engaging and fun.
As Sumitomo Mitsui Banking Corporation Singapore branch (SMBC) celebrates its 60th anniversary in our island nation, SMBC has launched the Finspiration Challenge with a focus of engaging youth to develop innovative solutions for building financial capable youth.
Singapore and the world are evolving very quickly. Financial literacy is a core life skill for functioning in today’s world. Children and youth are growing up in an increasingly complex world where they will eventually need to take charge of their own financial future.
Theme of the Challenge:
Teams compete and solve for the challenge by creating an innovative and potentially viable teaching tool for the following theme.
How might we make Financial Literacy fun, engaging and relevant for our Peers?
The teaching tool can address one of the following Financial Literacy areas:
Examples of Teaching tool:
Students Learning Objectives:
Students Learning Components:
There are two distinct, yet interrelated components: a Design Thinking & Project Management and Pitch & Presentation workshops, and an Innovation Challenge competition.
1. Workshops – Design Thinking & Project Management and Pitch & Presentation
To enhance the learning experience for the Finspiration Challenge, all students are required to attend the Design Thinking & Project Management Workshop to systematically identify the user and the problem they are solving with a project management-based process, and the Pitch & Presentation Workshop to prepare them for their presentation at the Finals.
2. Grand Project Showcase & Presentation:
All the teams will showcase their innovative ideas at the Grand Project Showcase & Presentation. Top 6-8 teams will be selected to advance to the final round of the competition to be held in the afternoon.
Student participation Criteria:
Awards:
1. Prizes: Teams will be competing for the following awards:
1st place team = trophy + iPad Pro
2nd place team = trophy + iPad Mini
3rd place team = trophy + iPad
Most Innovative Idea = trophy
Best Pitch / Presentation = trophy
2. Company Visit: Top 6-8 teams will participate in a one day company visit to SMBC. Find out why they are one of the largest Japanese banks and share your ideas with their team.
The Finspiration Challenge provides a platform for students to develop ideas that can help make the world a better place. The goal of this competition is to interest, inspire, motivate and challenge students to develop and pitch innovative solutions to make learning relevant financial life skills for today’s youth engaging and fun.
As Sumitomo Mitsui Banking Corporation Singapore branch (SMBC) celebrates its 60th anniversary in our island nation, SMBC has launched the Finspiration Challenge with a focus of engaging youth to develop innovative solutions for building financial capable youth.
Singapore and the world are evolving very quickly. Financial literacy is a core life skill for functioning in today’s world. Children and youth are growing up in an increasingly complex world where they will eventually need to take charge of their own financial future.
Theme of the Challenge:
Teams compete and solve for the challenge by creating an innovative and potentially viable teaching tool for the following theme.
How might we make Financial Literacy fun, engaging and relevant for our Peers?
The teaching tool can address one of the following Financial Literacy areas:
- Basic Finance
- Budgeting
- Personal Finance
- Saving
- Investment
- Insurance
Examples of Teaching tool:
- Teaching module
- Game
- App
Students Learning Objectives:
- Enable students to apply their financial literacy knowledge to real-life issues in the education arena.
- Identify relevant financial literacy life skills and make an engaging educational tool.
- Empower students to be problem finders and change makers.
- Provide an opportunity for students to be mentored by business volunteers.
- Encourage students to apply Design thinking to their solutions.
- Learn how to take an idea from concept to realization.
- Develop the skills in areas such as:
- Problem Solving
- Creative Thinking
- Teamwork
- Communication
- Presentation skills
- Self-confidence
Students Learning Components:
There are two distinct, yet interrelated components: a Design Thinking & Project Management and Pitch & Presentation workshops, and an Innovation Challenge competition.
1. Workshops – Design Thinking & Project Management and Pitch & Presentation
To enhance the learning experience for the Finspiration Challenge, all students are required to attend the Design Thinking & Project Management Workshop to systematically identify the user and the problem they are solving with a project management-based process, and the Pitch & Presentation Workshop to prepare them for their presentation at the Finals.
2. Grand Project Showcase & Presentation:
All the teams will showcase their innovative ideas at the Grand Project Showcase & Presentation. Top 6-8 teams will be selected to advance to the final round of the competition to be held in the afternoon.
Student participation Criteria:
- Ages: 17- 22
- Grade level: ITE & Polytechnic
- Course of study: Any discipline
- No of students per team: 3 students per team
- No of teams: 20 teams
- No of mentors: 20 mentors (1 per team)
- All the workshops and the Grand Project Showcase & Presentation will be held physically in person.
- Workshop attendance, workshop feedback, mid-project submissions and introduction videos are all mandatory. These are all part of the final scoring criteria for the competition.
Awards:
1. Prizes: Teams will be competing for the following awards:
1st place team = trophy + iPad Pro
2nd place team = trophy + iPad Mini
3rd place team = trophy + iPad
Most Innovative Idea = trophy
Best Pitch / Presentation = trophy
2. Company Visit: Top 6-8 teams will participate in a one day company visit to SMBC. Find out why they are one of the largest Japanese banks and share your ideas with their team.
Dates (2023) |
Activities |
Mon, 18th September |
Team Registration Deadline |
Sat 7th October, 9am – 4pm |
Design Thinking & Project Management Workshops |
Sat 21st October, 9am – 12pm |
Pitch & Presentation Workshop |
Sat 4th November, 9am – 6pm |
Grand Project Showcase & Presentation Competition Day (Preliminary & Grand Finals) |
We believe that the JA Finspiration Challenge will provide students with a unique opportunity to use their knowledge and creativity to shape the future of our world and we hope you will encourage your students to participate.
Registration:
Please register as a team via the link by Monday 27th September 2023.
https://tinyurl.com/FinspirationChallenge2023
Questions, please contact:
Ng Hau Yee (Ms.)
Director, JA Singapore
Email: hauyee.ng@ja.org.sg
Mobile: 96282704
Marissa Lim (Ms.)
Senior Program Manager
Email: marissa.lim@ja.org.sg
Mobile: 97514026
About Junior Achievement
Junior Achievement (JA) is one of the largest global non-profit organizations dedicated to addressing fundamental social and economic challenges of young people by educating and empowering them to transform their future and own their economic success.
Through the delivery of cutting-edge, experiential learning in financial literacy, work readiness and entrepreneurship, Junior Achievement effectively broadens the canvas of possibility for young people and enriches their ability to both engage in their own economic development as well as contribute to the strength of their families, communities and economies.
The 123 country JA Worldwide network is powered by over 500,000 volunteers and mentors from all sectors of society, reaching more than 10 million students around the world annually. In partnership with businesses and educators, Junior Achievement brings the real world to students, opening their minds to their potential. More information about JA is available at www.jaworldwide.org and www.ja.org.sg.
About Sumitomo Mitsui Banking Corporation:
Headquartered in Tokyo, Sumitomo Mitsui Banking Corporation (SMBC) is a leading global financial institution and a core member of Sumitomo Mitsui Financial Group (SMBC Group). Built upon our rich Japanese heritage since 1876, we put our customers first and provide seamless access to, from and within the Asia Pacific region.
SMBC is one of the largest Japanese banks by assets, with over ¥238,700 billion in total assets and strong credit ratings across our global integrated network spanning 39 countries and territories, 15 of which are here in the region. Our regional reach extends from corporate and institutional companies to individual customers supported by our Multi-Franchise Strategy in Indonesia, India, Vietnam and the Philippines. We work closely as one SMBC Group to offer personal, corporate and investment banking services to meet the needs of our customers.
With sustainability embedded within our strategy and operations, we are committed to creating a society in which today’s generation can enjoy economic prosperity and well-being, and pass it on to future generations.
For more information, please visit www.smbc.co.jp/asia/
Registration:
Please register as a team via the link by Monday 27th September 2023.
https://tinyurl.com/FinspirationChallenge2023
Questions, please contact:
Ng Hau Yee (Ms.)
Director, JA Singapore
Email: hauyee.ng@ja.org.sg
Mobile: 96282704
Marissa Lim (Ms.)
Senior Program Manager
Email: marissa.lim@ja.org.sg
Mobile: 97514026
About Junior Achievement
Junior Achievement (JA) is one of the largest global non-profit organizations dedicated to addressing fundamental social and economic challenges of young people by educating and empowering them to transform their future and own their economic success.
Through the delivery of cutting-edge, experiential learning in financial literacy, work readiness and entrepreneurship, Junior Achievement effectively broadens the canvas of possibility for young people and enriches their ability to both engage in their own economic development as well as contribute to the strength of their families, communities and economies.
The 123 country JA Worldwide network is powered by over 500,000 volunteers and mentors from all sectors of society, reaching more than 10 million students around the world annually. In partnership with businesses and educators, Junior Achievement brings the real world to students, opening their minds to their potential. More information about JA is available at www.jaworldwide.org and www.ja.org.sg.
About Sumitomo Mitsui Banking Corporation:
Headquartered in Tokyo, Sumitomo Mitsui Banking Corporation (SMBC) is a leading global financial institution and a core member of Sumitomo Mitsui Financial Group (SMBC Group). Built upon our rich Japanese heritage since 1876, we put our customers first and provide seamless access to, from and within the Asia Pacific region.
SMBC is one of the largest Japanese banks by assets, with over ¥238,700 billion in total assets and strong credit ratings across our global integrated network spanning 39 countries and territories, 15 of which are here in the region. Our regional reach extends from corporate and institutional companies to individual customers supported by our Multi-Franchise Strategy in Indonesia, India, Vietnam and the Philippines. We work closely as one SMBC Group to offer personal, corporate and investment banking services to meet the needs of our customers.
With sustainability embedded within our strategy and operations, we are committed to creating a society in which today’s generation can enjoy economic prosperity and well-being, and pass it on to future generations.
For more information, please visit www.smbc.co.jp/asia/