This year, the committee had decided to award 3 promising teams with the following prizes:-

Encouragement Fund (S$1000 cash prize & 3 months rental free incubation)
Feel My Style
Product Offering: Location based social networking

Incubation (1 month rental free incubation & mentorship by Prof Reddi)
Crossroads
Product Offering : Event search engine

Incubation (1 month rental free incubation)
Virtual Baby
Product Offering : Multiplayer online social game for couples

The other finalist was:

ZangIdeas