Lee Kuan Yew Business Plan Competition Opens

India's startup ecosystem is rapidly evolving, with over 1.59 lakh startups recognized as of January 2025, solidifying its position as the third-largest globally. In particular, the insurtech sector is experiencing significant growth, projected to reach USD 1.4 trillion by 2047, driven by a current annual growth rate of 17% and a 12-fold revenue increase to USD 750 million in 2023. Meanwhile, the challenge of climate resilience is becoming increasingly pressing in urban areas, as cities face more frequent extreme weather events due to climate change, necessitating urgent and science-informed urban planning. The 12th Lee Kuan Yew Global Business Plan Competition has opened applications for innovative solutions focused on urban sustainability and has partnered with Singapore's A*STAR for added expertise. These developments highlight the intersection of innovation, economic growth, and environmental sustainability in urban centers. As these sectors grow, they underscore the importance of integrating technology and sustainability within urban planning and development.