Brigham Young University students can learn how to win some of the $100,000 cash and in-kind services the Center for Entrepreneurship will give away during the 13th annual Business Plan Competition at the kickoff meeting Thursday, Oct. 27, at 6 p.m. in 3220 and 3222 Wilkinson Student Center.
This is an opportunity for teams to present new ideas or start-up companies that are less than two years old to investors and venture capitalists.
“The BPC really does two things: helps validate and complete your business idea, and it’s a chance to raise money,” said Joe Atkin, Business Plan Competition director. “Our winner last year raised $2 million in less than a week. When you win or place well in BYU's BPC, investors know your plan is legit.”
Anyone with an interest in entrepreneurship can find out how to get involved in this year’s events at the kickoff meeting. The semifinalists from last year’s competition were a varied group, including students from all across campus. Mechanical engineering, nutrition, computer science, humanities, chemical engineering, business, accounting and entrepreneurship were all represented.
“The Business Plan Competition is not just for business students, it is for everyone,” Atkin said. “If students have a great idea, enter the Business Plan Competition and make it a reality.”
The judging for the competition will be based on how well the business plan understands the market, provides detailed evidence of potential success and is backed by a motivated team.
The BYU Business Plan Competition has a proven track record for discovering talent. The competition has helped jumpstart a number of successful companies including 1-800-Contacts, Open Air Cinema, uSight and Property Solutions, LLC.
The Center for Entrepreneurship and the BPC have helped BYU create one of the best programs in the nation for entrepreneurs. In 2003, “Entrepreneur” magazine listed BYU as one of the top regional programs in the nation. The 2003 BPC winner went on to win Fortune Small Business magazine’s first nationwide business plan competition, beating out more than 50 entrants from 49 of the top 50 business schools in the nation.