Business plan competitions have become an important venue for finding investors. Jenny Lefcourt, co-founder of WeddingChannel.com, found venture capital to support her business at a school business plan competition. Other competitions award cash prizes that the entrepreneur can use to jumpstart the business.
If this is something you want to try, here are some of the business plan competitions:
Oxford University Business Plan Competition (2006 competition has lapsed but you can try next year) http://www.science-enterprise.ox.ac.uk/html/busplan_timetable.asp
USF International Business Plan Competition
http://www.usfca.edu/sobam/nvc/bpc/
Tech Valley Business Plan competition
http://www.techvalley.org/Pages/News%20_%20Events/Tech%20Valley%20News/1-24-2006.html
IBK Capital Ivey Business Plan competition
http://www.iveybpc.com/
International Business Plan Competition for Poverty Reduction and Profit
http://www.nextbillion.net/event/2006/02/07/bid-challenge-2006-the-international-business-plan-competition-for-poverty-reduction-and-profit
Rice University Business Plan competition
http://www.alliance.rice.edu/alliance/RBPC.asp
Isabel,
You are so right — business plan competitions are a splendid way to gain exposure to angel investors and venture capital. One of my favorite techniques is to have entrepeneurs check the universities in their geographical area — most business schools have such competitions annually. Sometimes outside entrepreneurs are able to compete, and sometimes it’s possible for entrepreneurs to qualify as “students” without being full time students. The exposure, in any event, is really tremendous.
MaryAnn Shank
Isabel,
You are so right — business plan competitions are a splendid way to gain exposure to angel investors and venture capital. One of my favorite techniques is to have entrepeneurs check the universities in their geographical area — most business schools have such competitions annually. Sometimes outside entrepreneurs are able to compete, and sometimes it’s possible for entrepreneurs to qualify as “students” without being full time students. The exposure, in any event, is really tremendous.
MaryAnn Shank