The idea of a business plan competition first started in the 1980's at the initiative of some MBA students from Texas and has increasingly gained popularity. Such events happen yearly and rejoice a great affluence of contestants, which highly increases their competitiveness.

Competitions

Organized by Universities

* Babcock Elevator Pitch Competition - Wake Forest University

* Enterprise Creation Competition - Ball State University

* Moot Corp. Competition - University of Texas

* Duke Start-Up Challenge - Duke University

* IBK Capital Ivey Business Plan Competition - University of Western Ontario

* OFC Venture Challenge - Clark Atlanta University

* Venture Adventure - Colorado State University

Held by business organizations

* Jungle Business Plan Challenge - Jungle Media Group

* S.E.E.D. Business Plan Competition - TechKnowledge Point Corp.

* Venture Bowl - National Institute for Entrepreneurship and Carrot Capital

You will wonder probably what exactly do these competitions consist of and where does their popularity come from?

Organizers

Although the organizers and sponsors are usually universities, there are several business organizations that host business plan competitions.

Contestants

Business plan competitions are student entrepreneur events. The contests are organized either for graduate or undergraduate students and it does not necessarily have to be MBA students. The contestants may be student scientists, engineers, MDs or other specialists who strive to create a viable business plan hoping to enter such competitions.

The popularity of such contests also reached some other layers: business plan competitions are also organized with the purpose of giving people the possibility of starting a business. Business plan competitions usually happen as intercollegiate events, but this contest formula has also been taken over by companies who want to facilitate the founding of new businesses.

It is also the case of Ford Motor Company that sponsored the Ford BEST (Building Entrepreneurial Success Today) Business Plan contest in association with SCORE "Counselors to America