This is an old article on the benefits of entering business plan competitions, but I think it’s worth sharing because I see so many aspiring entrepreneurs undervaluing what they can gain from entering a few business plan competitions.
As Amy Buttell says, there is a lot to gain than just a chance at some cash for your company. The networking, advice, and mentorship relationships that you can gain at a well run business plan competition are invaluable, so don’t make excuses. Find some relevant competitions to participate in. This is especially true if you’re still a student as people are anxious to mentor young, ambitious, up-and-coming entrepreneurs.
Part of being an entrepreneur is taking advantage of every opportunity that comes your way and business plan competitions are certainly no exception.