Hey, everyone wants bigger prize money. Ask yourselves, if you were an organizer, and if you had a hundred grand to give out to the winning band, why not? The whole competition would seem grand, people would be going," Whoa, that's the competition with the big sponsors and the big prize money!" It will look good for both the winning band, and the organizer's rep. It all boils down to the organizer's ability to get the connections for sponsors.
Another thing, if you really want the money(and maybe sell your soul in the process), why not join Mediacorp's band competition? It's $60,000, and that's a whole lot of money.