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Business Plan Competitions
Business plan competitions have been around for several years. Primarily offered by business schools initially, they have become increasingly mainstream- being offered by some states, wineries, economic development programs and even Avon, the cosmetics company. This intel gives details about business plan competitions and lists some business plan contests you might want to enter. What Are They?
Most competitions are organized annually, especially the university based events. Typically, you/your team register to participate and follow the contest timeline for submitting preliminary materials such as an executive summary. Depending on the contest, you may have to submit a full business plan at a later date and if your plan makes it to the finals, you and your team will have to appear in person to do a presentation or "pitch" in front of the judges and investors in some cases. Some competitions sponsored by businesses require only a detailed essay and/or video entry. Read and follow the entry requirements to the letter.
Here's a Shortlist of University Sponsored Business Plan Contests
For many of the university sponsored business plan competitions, the team can compete as long as one member is a current student of that university. In other contests, students from any university can compete. Harvard Business School Business Plan Competition
Harvard Business School's competition.
The OFC Venture Challenge
Clark Atlanta University
Moot Corp. Competition
University of Texas, McCombs School of Business
The Nascent 500 Business Plan Challen
Ball State University
Shortlist of Non-Academic Business Plan Competitions
As mentioned above, other entities from banks, city governments and wineries, to Yahoo Small Business to Avon have all offered business plan competitions. Avon's Hello Tomorrow Grant
Avon's Hello Tomorrow program is open to women only. Each week they will choose one applicant to award $5,000 to help that person start a program or a project or develop an idea that will empower women. Mirassou Winery, Make Your Dreams Come Through With Mirassou
This is another business plan competition geared to women business owners. Mirassou, the California based winery is sponsors it's annual "Make Your Dreams Come True with Mirassou" business funding competition.
They aim at overcoming the #1 obstacle women often face when trying to start a business, that is, finding startup funds Whirlpool Brand Mother of Invention Grant
If you are a mom with a great product innovation, invention, service or business idea, you should enter this competition. $20K is up for grabs yearly in this contest. Zion's Bank Smart Women
Applicant must be a female business owner and primary manager of the company's day to day activities or must be associated with a non-profit organization that directly benefits women. Grant amount: up to $3000
Open to: Female residents of Utah and Idaho Competing in business plan competitions may not be for everyone but it is an excellent source of funding, publicity and advice from seasoned entrepreneurs. Check them out! |
Whirlpool Brand Mother of Invention Grant
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