Who are the judges? What are their backgrounds?
Will the judges sign a non-disclosure agreement (NDA)?
How can I protect the confidentiality of intellectual property?
Where can I find other resources to help me in writing a business plan?
Where can I get a list of Business Plan Competitions
Who are the judges? What are their backgrounds?
Contest judges will be drawn from a variety of backgrounds, including venture capitalists, lawyers, accountants, alumni, entrepreneurs, faculty and other professional or specialists deemed necessary to understand the commercial viability of a business idea (e.g., product design specialists).
Will the judges sign a non-disclosure agreement (NDA)?
In general, no. Requiring the judges to sign an NDA would overwhelm them with legal requirements that would severely inhibit their ability to participate in the competition. You should take appropriate steps to protect your intellectual property, just as you would if you were approaching institutional investors. Be sure to read the next FAQ on protection of Intellectual Property.
How can I protect the confidentiality of intellectual property?
If you feel that significant confidentiality issues will arise in the course of preparing your plan, you should have a thorough understanding worked out with your team members in advance. While every effort will be made to preserve the confidentiality of each submission, it is suggested that highly sensitive material be excluded from the entry if a team is concerned about the confidentiality of such material. Note, however, that teams will be making final presentations to an open audience. Of course, technical drawings and formulae need not be shown at this presentation, or even included in the business plan. Protection of such rights is ultimately the responsibility of each Contestant. Contestants are urged to mark as "CONFIDENTIAL" any portion of their entries which they consider to be confidential.
Where can I find other resources to help me in writing a business plan?
Check out our Resources link.
Where can I get a list of Business Plan Competitions
There are start-up businesses that travel the business plan competition circuit in search of funding, exposure and for the great feedback that many of the competitions offer from their judges. Two sites that includes include information and links to other business plan competitions are –
1. MIT Global Startup Workshop
2. Small Business Notes Business Plan Competition Directory
Please note that specific links within these lists often change. You may have to search for the competition information to get to the updated sites.
FAQs specific to a Business Plan Competition
Below are a list of FAQs that are typically asked, but have answers specific to the event that you are considering entering. By listing these FAQs without the answers, even if the FAQs aren’t listed on the Competition page, you’ll know what questions you should be asking about a competition.
- Who is eligible to enter the contest?
- I am from another college or department (e.g., Business, Law, Engineering), can I participate?
- I have formed a company, am I eligible?
- Is there any age limit?
- Is there any registration fee?
- Are there any nationality requirements for participants?
- Are there any conditions attached to the prize money?
- I can't find partners to form a team. What should I do?
- How many team members should there be in a team?
- Can I be on more than one team?
- How do I get update about events and about the competition?
- Who are the judges? What are their backgrounds?
- Where can I find other resources to help me in writing a business plan?
- How will my intellectual property be protected?
- Is there a standard format for the submission of executive summary?
- Is there a standard format for the submission of the business plan?
- How will I get contest information during the rest of the year?
- If I am not entering the competition, is there another way I can participate?
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