Business Plan Competitions: A Start-Up Business’ Best Friend

26 01 2010

It’s difficult for a group of graduate students to start a new venture. Large start-up costs. Little exposure. An unfavorable economy.

No need to panic, there is a solution. Welcome to the world of business plan competitions.

Business plan competitions provide graduate students with the essentials for success: professional opinion, exposure, and a hefty sum of money.

The New Venture Championship is among the leading competitions to help spring student ventures toward success. For proof, simply take a look at last year’s winner, KT Tape.

KT Tape, from Brigham Young University, has quickly expanded from an aspiring venture to successful business after being crowned 2009 NVC Champion. Previously not available in retail stores, the product is now found in over 1,100 locations worldwide.

“The caliber of the judges was phenomenal,” Reed Quinn, co-founder of KT Tape said. “They had product experience and the competition proved as a very strong base for us.”

The judges provide just a small sliver of what makes the NVC unique — the prize money is has no restrictions, meaning participants can fund portions of their venture that have funding necessities.

Sound appeasing? Intent to compete and executive summaries are due on February 15, 2010. See for more information.




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