Singapore's Youth Olympics hopes to raise $29m in sponsorship

SINGAPORE - Organisers of the Youth Olympics, to be hosted by Singapore in 2010, are hoping to raise S$40 million (US$29 million) in corporate sponsorship as they kick off a global logo design competition for the Games - the earliest sign of marketing activity for the event.

Design companies are not eligible to take part in the competition. Instead, individual designers from any country can participate in the competition to find a logo that best represents the Singapore identity and Olympic ideals.

The Games’ organizers have unveiled five advisory committees - including business and marketing - as part of preparations for the event.

The marketing committee will advise the game’s organisers on marketing, sales, branding and sponsorship, which is expected to raise at least S$40-50 million (US$29-36 million).