Planning for Gold – Building Success through the University Business Plan Competition Circuit

At business plan competitions across the country, judges sift through talented teams of presenters to find out who deserves the precious prizes–cash, services and VC exposure. Could your startup be the next to strike it rich?

There’s an air of optimism about a business plan competition. Teams bustle along, rehearsing their business plan presentations before delivering them to illustrious judges who not only have business acumen, but are also often connected to large VC firms. Permeating every conversation is a we-can-do-it attitude. Business ideas can range from the highly technical biomedical industry to the more ethereal creative arts arena.

Yes, the competition part of it can be nerve-wracking, and the judges are not what one would call an easy audience. Still, it’s a great opportunity to win cash and prizes for your business and get pitch time in front of actual VCs–and it’s also a huge learning experience from start to finish. It may very well be in the drinking water at a business plan competition, but the general attitude is this: No matter what happens, we’ll build a business.

For more information, and to get a list of U.S. business plan competitions, click here. http://www.entrepreneur.com/article/0,4621,317603,00.html

Entrepreneur magazine – November 2004
By Nichole L. Torres

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