This is just a reminder. Business plan competitions are becoming more popular every day, and many of them offer real money to winners. Every April Rice University’s intercollegiate competition has a prize worth more than half a million dollars. The University of Texas’ Moot Corp is close to that. Cal State Fresno has a new annual competition announced for October with a $250K first prize.
The link here (Business Plan Competitions – Palo Alto Software) gives you a list of more than a dozen competitions that we work with at Palo Alto Software, and there are a lot more cropping up every day. That list doesn’t (yet) include Cal State Fresno’s new $250K competition. And forbes.com has another new competition this fall offering $100K as a first prize without entry restrictions (most of these require some MBA affiliation).
I’m privileged to participate in several of these as a judge, and what I see is a good opportunity for entrepreneurs to take their business plans through a good review, get a lot of advice, a chance to present to a group of experienced judges, and, sometimes, money to help with startup costs.