Frequently Asked Questions
You should find your questions answered on this page. If it’s not here, please email us at at yexfactor@aceedventure.com to get your questions answered.
- What is Young Entrepreneur X Factor?
The Young Entrepreneur X-Factor (YEXfactor for short) is a competition organised by ACE EdVenture in collaboration with Circle of Excellence group.
The competition gives recognition to children for their entrepreneurial pursuits as they unleash their creativity to solve real-world problems, sharpen their entrepreneurial skills set and storify their business ideas to a panel of distinguished industry experts. It is designed to allow their business ideas, innovative products and creative solutions to flourish. It is also for the young entrepreneurs to be connected with industry experts and professionals.
At the same time, the competition is for us to find out if our young entrepreneurs have the ‘X’ Factor—that secret ingredient that stirs audiences and mobilises crowds to take their businesses to the next level. This is not only where we see who has this ingredient; it’s where we begin to teach it. The Entrepreneur X Factor is a teachable skill. It’s transferable.
Although built around a competition, the Young Entrepreneur X Factor aims to develop the love of “storifying” one’s passion and ideas which in turn can benefit their communities and their collective futures. Most importantly, it allows our young entrepreneurs to have fun!! - Who can take part in the Young Entrepreneur X Factor?
YEXfactor is open to children from 8 to 17 years old from around the world.
There are three categories to cater for different age groups.
a) Children with Existing Businesses – ages 8-17 years old
b) Startups Tweens – ages 8 to 13 years old
c) Teens – ages 14 to 17 years old - You can either pitch an existing business or present your creative solutions to the problem statements in this competition. You do not need a background or have studied business to compete. You just need motivation, passion and creative ideas.
- Is the competition for individuals or teams?
In 2023, YEXfactor is open to individuals in the Existing Businesses and Startups categories.
- Can I participate if I took part in previous editions of YEXfactor?
Yes, you may. If you were a finalist in previous editions of YEXfactor, you have the option to attend and take part in selected programmes in this year’s event as our YEXfactor alumni. Get in touch with us to find out more: yexfactor@aceedventure.com. - What is the Registration period?
The registration period for the Young Entrepreneur X Factor is from 15 March to 15 May, 2023. - Do I have to participate in the Dwi Emas Young Entrepreneurs Festival?
Contestants of YEXfactor are expected to be attend the Dwi Emas Young Entrepreneurs Festival on the 24th of June, 2023. This is so that all participants will be engaged, and not miss out on the events that have been planned. We encourage contestants, their parents, mentors and coaches to attend all our planned programmes. - Can I storify and pitch more than one idea?
Each contestant is allowed only one submission. Prioritize your businesses or creative ideas. Select your best, and practice in preparation for the competition. - If I am competing, can I watch the other competitors during the preliminary rounds?
If you have been shortlisted for the preliminary round, you will be allowed to watch other competitors during who are in the same group as your are. - My friends and/or family would like to see me present my ideas. Can they attend?
The preliminary rounds are closed competitions, and only contestants are allowed to watch other competitors in the same group during the preliminary rounds.
Spectators are welcome to attend and participate in other events held during the Dwi Emas Young Entrepreneurs Festival. There will be Keynote speakers, panel discussions, Business exhibition, and the YEXfactror Grand Finals. - Can I present in a language other than English?
The competition will be conducted in English as there will be international judges who may not be familiar with the Malaysian language (Bahasa Malaysia) and/or other local languages. Contestants are required to have at least an intermediate to fluent level of proficiency in the English language.
- Is YEXfactor 2023 going to be a physical or online competition?
This year, the competition will be an on-site competition held in Dwi Emas International School in Malaysia. All shortlisted participants will have to be on-site to participate and qualify for the Grand Finals. - What do I need to take part in the competition?
All contestants should come with:
– Curiosity to try new things
– Willingness to learn; and
– Lots of creative energy! - What if I can’t make it for any of the storifying sessions?
A no-show due to whatsoever reason will automatically disqualify you from the competition. - What is the dress code for the event?
You are encouraged to dress in comfortable clothing to suit the theme of your presentation. - Who are the judges and mentors?
We have entrepreneurs, industry experts, business owners and entrepreneurial-minded experts to judge and provide students with valuable feedback. - How do I protect against people stealing my idea?
The short answer is that you can’t. If you’re very concerned, you can limit your pitch to the rough outline of the idea without giving away key information.
The longer answer is that the advantages gained from getting feedback and forming collaborations with peers and industry experts far outweigh the risks of someone stealing and executing on your idea. As such, share your ideas and learn from what others have to say. What truly matters is how passionate you are in your idea and how well your idea is executed. - Who owns the Intellectual Property rights of the ideas, products and solutions presented during YEXfactor?
All business ideas, products, and solutions presented during YEXfactor belong to the participants. The organizers of YEXfactor does not support or take part in the signing of any legal documents before, during and immediately after the event themselves. Our mentors and coaches with legal backgrounds may be present during the event, and they are only permitted to give general advice. - Do you cover travel and accommodation expenses?
All travel and accommodation expenses are borne by the contestants. - I want to be a sponsor or partner to Young Entrepreneur X Factor, what do I do?
If you would like to join YEXfactor as a sponsor or partner, please get in touch with our team using the form in the Sponsors and Partners page or email us at yexfactor@aceedventure.com. - I have other questions not included in this list of FAQs. Who should I contact?
You can email us at yexfactor@aceedventure.com.