suss business plan competition

ITE students win first prize at SUSS business plan competition

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An ITE outfit beat 42 other teams from local schools to win the first prize at the Singapore University of Social Sciences (SUSS) SBIZ Business Plan Competition, which required participants to develop an innovative business plan that addresses Singapore’s social problems in the digital era.

Three students from Institute of Technical Education (ITE) College Central — Joshua Lim Zheng Jie, 19, Jarryl Lim Yi Zhao, 20, and Muhammad Adil Juma’at, 18  — submitted a plan that focused on the use of immersive technologies, such as virtual games and simulations, to help the elderly stay active and healthy.

The trio, who go by the name, Team Link, was initially anxious when they found out they were competing against 42 other teams from various schools that included the likes of Hwa Chong Institution, Nanyang Junior College and Singapore Polytechnic.

Said Jarryl: “It was a confidence booster (when we won) because I realised that although academics might not be our forte, our passion and hard work paid off.”

Their mentor, Ms Karen Loh, a senior lecturer teaching the life skills subject, said that the students had to undergo a steep learning curve while conceptualising the business plan through virtual calls. and they were always willing to learn and improvise.

Ms Loh said: “I was initially afraid that the odds were against them. However, I am proud of the students as they were always willing to learn and improvise, and have grown in confidence.”

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The judges of the competition said Team Link presented a sound business plan and was “able  to articulate its ideas and convince the judges that the idea would work”. 

They added: “The students were able to effectively address the questions posed to them by the judges.”

Adil, a Nitec in business services student, was able to use the skills taught in his course to curate the business plan.

Joshua, who is pursuing a Higher Nitec in motion graphics and Jarryl, a film-making Higher Nitec student, created videos to showcase their plans, which included activities that involved the elderly playing virtual games in roving buses and senior activity centres.

They also created physical therapy and rehabilitation through mixed reality and reminiscence therapy for seniors with dementia.

The students worked on this project for three months and picked up skills such as market analysis on their own to curate the business plan.

Said Adil: “We all have our strengths, and we were also able to forge strong friendships that allowed us to work together without any misunderstandings, and our hard work finally paid off.”

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HARSHITHA SMRUTHI L. KANDAKUMAR

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The 20 Best Business Plan Competitions to Get Funding

Business plan competitions can provide valuable feedback on your business idea or startup business plan template , in addition to providing an opportunity for funding for your business. This article will discuss what business planning competitions are, how to find them, and list the 20 most important business planning competitions.

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What is a Business Plan Competition?

How do i find business plan competitions, 20 popular business plan competitions, tips for winning business plan competitions, other helpful business plan articles & templates.

A business plan competition is a contest between startup, early-stage, and/or growing businesses. The goal of the business plan competition is for participants to develop and submit an original idea or complete their existing business plan based on specific guidelines provided by the organization running the contest.

Companies are judged according to set criteria including creativity, feasibility, execution, and the quality of your business plan.

A quick Google search will lead you to several websites that list business planning competitions. 

Each site has a different way of organizing the business planning competitions it lists, so you’ll need to spend some time looking through each website to find opportunities that are relevant for your type of business or industry.

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Below we’ve highlighted 20 of these popular competitions, the requirements and how to find additional information. The following list is not exhaustive; however, these popular competitions are great places to start if you’re looking for a business competition.

Rice Business Plan Competition

The Rice University Business Plan Competition is designed to help collegiate entrepreneurs by offering a real-world platform on which to present their businesses to investors, receive coaching, network with the entrepreneurial ecosystem, fine-tune their entrepreneurship plan, and learn what it takes to launch a successful business.

Who is Eligible?

Initial eligibility requirements include teams and/or entrepreneurs that:

• are student-driven, student-created and/or student-managed
• include at least two current student founders or management team members, and at least one is a current graduate degree-seeking student
• are from a college or university anywhere in the world
• have not raised more than $250,000 in equity capital
• have not generated revenue of more than $100,000 in any 12-month period
• are seeking funding or capital
• have a potentially viable investment opportunity

You can find additional  eligibility information on their website.

Where is the Competition Held?

The Rice Business Plan Competition is hosted in Houston, TX at Rice University, the Jones Graduate School of Business.

What Can You Win?

In 2021, $1.6 Million in investment, cash prizes, and in-kind prizes was awarded to the teams competing.

This two-part milestone grant funding program and pitch competition is designed to assist students with measurable goals in launching their enterprises.

Teams must be made up of at least one student from an institution of higher education in Utah and fulfill all of the following requirements:

• The founding student must be registered for a minimum of nine (9) credit hours during the semester they are participating. The credit hours must be taken as a matriculated, admitted, and degree-seeking student.
• A representative from your team must engage in each stage of Get Seeded (application process, pre-pitch, and final pitch)
• There are no restrictions regarding other team members; however, we suggest building a balanced team with a strong combination of finance, marketing, engineering, and technology skills.
• The funds awarded must be used to advance the idea.

The business plan competition will be hosted in Salt Lake City, UT at the Lassonde Entrepreneur Institute at the University of Utah.

There are two grants opportunities:

• Microgrant up to $500
• Seed Grant for $501 – $1,500

Global Student Entrepreneur Awards

The Global Student Entrepreneur Awards is a worldwide business plan competition for students from all majors. The GSEA aims to empower talented young people from around the world, inspire them to create and shape business ventures, encourage entrepreneurship in higher education, and support the next generation of global leaders.

• You must be enrolled for the current academic year in a university/college as an undergraduate or graduate student at the time of application. Full-time enrollment is not required; part-time enrollment is acceptable.
• You must be the owner, founder, or controlling shareholder of your student business. Each company can be represented by only one owner/co-founder – student-preneur.
• Your student business must have been in operation for at least six consecutive months prior to the application.
• Your business must have generated US $500 or received US $1000 in investments at the time of application.
• You should not have been one of the final round competitors from any previous year’s competition.
• The age cap for participation is 30 years of age.

You can find additional   eligibility information on their website.

Regional competitions are held in various locations worldwide over several months throughout the school year. The top four teams then compete for cash prizes during finals week at the Goldman Sachs headquarters in New York City.

At the Global Finals, students compete for a total prize package of $50,000 in cash and first place receives $25,000. All travel and lodging expenses are also covered. Second place gets US $10,000, while third place earns US $5,000. Additional prizes are handed out at the Global Finals for Social Impact, Innovation, and Lessons from the Edge.

Finish Your Business Plan in 1 Day!

The collegiate entrepreneurs organization business plan competition.

The Collegiate Entrepreneurs Organization Business Plan Competition (COEBPC) exists to help early-stage entrepreneurs develop their business skills, build entrepreneurial networks, and learn more about how they can transform ideas into reality. It also offers cash prizes to reward entrepreneurship, provide an opportunity for recognition of top student entrepreneurs around the world, and provide unique opportunities for networking.

To compete, you must:

• Be a currently enrolled student at an accredited institution
• Have a viable business concept or be the creator of an existing business that generates revenue.

If you are among the top three finalists of the business plan competition and successfully receive prize money, you will be required to submit a class schedule under your name for the current academic semester. Failure to do so will result in the forfeit of the prize money.

All competitions are held online. The finalist will receive a trip to the International Career Development Conference, where they have an opportunity to win additional prizes from CEO’s sponsors.

• First Place – $7,000
• Second Place – $5,000
• Third Place – $3,000
• People’s Choice Award – Collegiate Entrepreneur of the Year – $600

MIT 100k Business Plan Competition and Expo

The MIT 100K was created in 2010 by the Massachusetts Institute of Technology to foster entrepreneurship and innovation on campus and around the world. Consists of three distinct and increasingly intensive competitions throughout the school year: PITCH, ACCELERATE, and LAUNCH. 

• Submissions may be entered by individuals or teams.
• Each team may enter one idea.
• Each team must have at least one currently registered MIT student; if you are submitting as an individual, you must be a currently registered MIT student.
• Entries must be the original work of entrants.
• Teams must disclose any funding already received at the time of registration.

Hosted in Cambridge, MA at the Massachusetts Institute of Technology beginning in October through May of each academic year.

Top finalists will have a chance to pitch their ideas to a panel of judges at a live event for the chance to win the $5,000 Grand Prize or the $2,000 Audience Choice Award.

20 Finalists are paired with industry-specific business professionals for mentorship and business planning and a $1,000 budget for marketing and/or business development expenses.

The 10 Top Finalists participate in the Showcase and compete for the $10,000 Audience Choice Award while the 3 Top Finalists automatically advance to LAUNCH semi-finals.

The grand prize winner receives a cash prize of $100,000 and the runner-up receives $25,000.

Florida Atlantic University (FAU) Business Plan Competition

The FAU business plan competition is open to all undergraduate and graduate student entrepreneurs. The competition covers topics in the areas of information technology, entrepreneurship, finance, marketing, operations management, etc.

All undergraduate and graduate students are eligible to participate.

The business plan competition will be held at Florida Atlantic University in Boca Raton, Florida.

• First prize: $5,000 cash
• Second prize: $500 cash

Network of International Business Schools (NIBS) Business Plan Competition

The Network of International Business Schools (NIBS) Business Plan Competition is designed to offer an opportunity to develop your business plan with the guidance of industry experts. It provides the opportunity for you to compete against fellow entrepreneurs and explore big ideas.

• Participants must be the legal age to enter into contracts in the country of residence.
• Participants may not be employed by an organization other than their own company or business that they are launching for this competition.
• The plan should be for a new business, not an acquisition of another company.

The Network of International Business Schools (NIBS) Business Plan Competition is held in the USA.

There is a cash prize for first, second, and third place. There is also a potential for a business incubator opportunity, which would provide facilities and assistance to the winners of the competition.

Washington State University Business Plan Competition

The Washington State University Business Plan Competition has been serving students since 1979. The competition is a great opportunity for someone who is looking to get their business off the ground by gaining invaluable knowledge of running a successful business. It offers a wide range of topics and competition styles.

• Any college undergraduate, graduate, or professional degree-seeking student at Washington State University
• The company must be an early-stage venture with less than $250,000 in annual gross sales revenue.

The Washington State University Business Plan Competition is held in the Associated Students Inc. Building on the Washington State University campus which is located in Pullman, Washington.

There are a wide variety of prizes that could be won at the Washington State University Business Plan Competition. This is because the business plan competition has been serving students for over 30 years and as such, they have offered more than one type of competition. The common prize though is $1,000 which is awarded to the winner of each class. There are also awards for those who come in second place, third place, etc.

Milken-Penn GSE Education Business Plan Competition

The Milken-Penn GSE Education Business Plan Competition is one of the most well-known competitions in the country. They have partnered with many prestigious institutions to provide funding, mentorship, and expertise for the competition.

Education ventures with innovative solutions to educational inequity from around the world are encouraged to apply, especially those ventures founded by and serving individuals from marginalized and historically underrepresented communities.

We encourage applicants working in every conceivable educational setting–from early childhood through corporate and adult training. We also welcome both nonprofit and for-profit submissions.

The competition is held at the Wharton School of the University of Pennsylvania.

All finalists receive $1,000 in cash and $5,000 in Amazon Web Services promotional credits.

Next Founders Business Plan Competition

Next Founders is a competition geared towards innovative startups with a social impact, looking to transform society by addressing key global human needs. The competition inspires and identifies energetic, optimistic entrepreneurs who are committed to achieving their vision.

Next Founders is for Canadian business owners of scalable, high-growth ventures.

Next Founders is held at the University of Toronto.

You could win up to $25,000 CAD in cash funding for your new business.

Hatch Pitch Competition

The Hatch Pitch competition is one of the most prestigious business competitions in the US. The winners of the Hatch Pitch Competition are given access to mentorship courses, discounted office space with all amenities included, incubators for startups, tailored education programs, financial counseling & more.

The competition is for companies with a business idea.

• The company’s product/service must have launched within the past 2 years, or be launched within 6 months after the Hatch Pitch event.
• Founders must retain some portion of ownership in the company.
• Received less than $5 million in funding from 3rd party investors.
• The presenter must actively participate in Hatch Pitch coaching.

The Hatch Pitch Competition is located at the Entrepreneur Space in Dallas.

The grand prize for this business plan competition is access to resources like incubators and mentorships that could prove invaluable in bringing your startup company to the next level.

TechCrunch’s Startup Battlefield

The Startup Battlefield is a business plan competition that is sponsored by TechCrunch.  It awards the winner $50,000. There are two different rounds to this competition:

• First Round – 15 companies from all of the applicants that submitted their business plans for this round.
• Second Round – Two finalist companies compete against each other at TechCrunch Disrupt NY’s main stage.

At the time of the application process, companies must have a functional prototype to demo to the selection committee. In selecting final contestants, we will give preference to companies that launch some part of their product or business for the first time to the public and press through our competition. Companies that are in closed beta, private beta, limited release or generally have been flying under the radar are eligible. Hardware companies can have completed crowdfunding but those funds should have been directed to an earlier product prototype. Existing companies launching new feature sets do not qualify.

TechCrunch’s Startup Battlefield is held at different locations.

The Startup Battlefield rewards the winner with $50,000. In addition, the two runner-ups get a prize of $5,000 each.

New Venture Challenge

New Venture Challenge is a competition hosted by the University of Chicago. There are 3 main categories that will be judged:

• Innovative Concept – Arguably the most important category, this focuses on uniqueness, originality, and suitability.
• Market Fit/Business Model – Are you solving an actual problem for your target market? Does your project have the potential for profit?
• Presentation – Did you make a compelling, impactful presentation? Did you clearly communicate your goals and vision to potential investors?

You can find  eligibility information on their website.

The New Venture Challenge competition is held in Chicago, IL.

Finalists are awarded:

• First Place: $50,000 equity investment and access to industry mentors and other resources.
• Second place: $25,000 equity investment and access to industry mentors and other resources.
• Third place: $15,000 equity investment and access to industry mentors and other resources.

New Venture Championship

The New Venture Championship is hosted by the University of Oregon and has been since 1987. The championship brings new ventures and innovative business ideas to life and the competition offers plan writing as a service to those who need it.

The University of Oregon New Venture Championship is open to university student teams with 2-5 members that have at least one graduate student involved with their venture. Students should be enrolled in a degree program or have finished their studies in the current academic year.

The New Venture Championship hosted by the University of Oregon is held in Eugene, Oregon.

Every business plan has a chance of winning a cash prize from $3,000 to $25,000 and additional benefits like plan coaching and office space rental.

Climatech & Energy Prize @ MIT

The Climatech & Energy Prize @ MIT is a competition that focuses on companies that are involved in the area of energy, environment, and climate change.

• Participants must be a team of two or more people.
• At least 50% of formal team members identified in the competition submission documentation must be enrolled as half-time or full-time college or university students.

The Climatech & Energy Prize @ MIT is held in Cambridge, MA.

The grand prize winner receives $100,000 and other winners may receive other monetary prizes.

Baylor Business New Venture Competition

This competition has been offered by Baylor for the last 20 years. It is designed to help aspiring entrepreneurs refine business ideas, and also gain valuable insights from judges and other entrepreneurs.

Must be a current undergraduate student at Baylor University or McLennan Community College.

The Baylor Business New Venture competition will be held at the Baylor University, Waco, TX.

The grand prize winner will receive $6,000. There are also other prizes given out to the other finalists in each category which are worth $1,500 – $2,000.

13th IOT/WT Innovation World Cup

The 13th IOT/WT Innovation World Cup was organized by the 13th IOT/WT Innovation World Cup Association. It was organized to provide a platform for innovators from all over the world to showcase their innovative ideas and projects. The competition aimed at drawing the attention of investors, venture capitalists, and potential business partners to meet with representatives from different companies and organizations in order to foster innovation.

The revolutionary Internet of Things and Wearable Technologies solutions from developers, innovative startups, scale-ups, SMEs, and researchers across the world are invited to participate. Eight different categories are available: Industrial, City, Home, Agriculture, Sports, Lifestyle, and Transport.

Only those submissions that have a functional prototype/proof of concept will advance in the competition, mere ideas will not be considered. 

The competition is held in Cleveland, Ohio also an important center for innovation and cutting-edge technology.

Win prizes worth over $500,000, connect with leading tech companies, speed up your development with advice from tech experts, join international conferences as a speaker or exhibitor, and become part of the worldwide IoT/WT Innovation World Cup® network. 

The U.Pitch is a competition that gives you a chance to share your idea and for the community of budding entrepreneurs, startup founders, CEOs, and venture capitalists to invest in your enterprise. It also provides mentoring by experts in the field.

• Currently enrolled in an undergraduate or graduate program
• Applicants may compete with either an idea OR business currently in operation
• Applicants must be 30 years of age or under

The U.Pitch is held in San Francisco, California.

Enter to win a part of the $10,000 prize pool.

At the core of CodeLaunch is an annual seed accelerator competition between individuals and groups who have software technology startup ideas.

If your startup has raised money, your product is stable, you have customers, and revenue, you are probably not a fit for CodeLaunch.

CodeLaunch is based in St. Louis, Missouri. 

The “winner” may be eligible for more seed capital and business services from some additional vendors.

New York StartUP! Business Plan Competition

The New York StartUP! is a competition sponsored by the New York Public Library to help entrepreneurs from around the world to develop their business ideas.

• You must live in Manhattan, The Bronx, or Staten Island
• Your business must be in Manhattan, The Bronx, or Staten Island
• All companies must have a big idea or business model in the startup phase and have earned less than $10,000

The New York StartUP! competition is held in New York, NY.

Two winners are chosen: 

•  Grand Prize – $15,000  
•  Runner-up – $7,500  

First, determine if the competition is worth your time and money to participate.

• What is the prize money?
• Who will be on the judging panel?
• Will there be any costs associated with entering and/or presenting at the competition (e.g., travel and lodging expenses)?

Once you’ve determined the worth of the competition, then shift to focusing on the details of the competition itself.

• What are the rules of the competition?
• Are there any disqualifying factors?
• How will you be judged during the different parts of the competition?

After conducting this research, it’s best to formulate an idea or product that appeals to the judges and is something they can really get behind. Make sure you thoroughly understand the rules and what is expected from your final product. Once you know what is expected from you, you’ll be able to refine and practice your pitch to help you move through the stages of the competition.

These competitions are a fantastic method to get new business owners thinking about business possibilities, writing business plans, and dominating the competition. These contests may assist you in gaining important feedback on your business concept or plan as well as potential monetary prizes to help your business get off the ground.  

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Business plan competitions: How to win business plan competitions and get funding for your saas startup

1. understanding the importance of business plan competitions, 2. researching and selecting the right business plan competition, 3. crafting a compelling executive summary, 4. developing a solid business model and revenue strategy, 5. creating an effective pitch deck, 6. presenting with confidence and conviction, 7. leveraging networking opportunities, 8. navigating the judging process, 9. maximizing funding opportunities and growth potential.

business plan competitions are events where entrepreneurs pitch their ideas to a panel of judges, investors, and mentors, and compete for prizes, feedback, and exposure. They can be a great opportunity for startups, especially in the software as a service (SaaS) sector, to validate their business models, gain traction, and secure funding. However, winning a business plan competition is not easy. It requires a lot of preparation, research, and presentation skills. In this section, we will explore the importance of business plan competitions for SaaS startups , and how to increase your chances of success . Here are some of the benefits and challenges of participating in a business plan competition :

1. benefits of business plan competitions

- Feedback and mentoring : One of the most valuable aspects of a business plan competition is the feedback and mentoring you can receive from the judges, investors, and experts. They can offer you constructive criticism, advice, and insights on how to improve your product , market, and strategy. You can also learn from the feedback given to other participants, and identify the strengths and weaknesses of your competitors.

- Exposure and networking : Another benefit of a business plan competition is the exposure and networking opportunities it can provide. You can showcase your idea to a large and relevant audience, and attract the attention of potential customers , partners, and investors. You can also connect with other entrepreneurs, mentors, and industry leaders, and build relationships that can help you grow your business in the future.

- Prizes and funding : A business plan competition can also offer you tangible rewards, such as cash prizes, in-kind services, and access to funding sources. Depending on the size and scope of the competition, you can win anything from a few thousand dollars to millions of dollars in funding. Some competitions also offer equity-free grants, which means you don't have to give up any ownership of your business in exchange for the money.

2. challenges of business plan competitions

- Time and resources : Participating in a business plan competition can be time-consuming and resource-intensive. You have to spend a lot of time and effort on preparing your business plan , pitch deck , and presentation. You may also have to travel to the location of the competition, and incur expenses such as accommodation, transportation, and registration fees. You have to balance these costs with the potential benefits , and make sure you don't neglect your core business activities while competing.

- Competition and pressure : A business plan competition can also be very competitive and stressful. You have to face a lot of uncertainty, and deal with the pressure of performing in front of a large and critical audience. You have to stand out from hundreds or thousands of other participants, who may have similar or better ideas than yours. You have to be ready to answer tough questions , handle objections, and overcome challenges from the judges and investors.

- Intellectual property and confidentiality : A business plan competition can also pose some risks to your intellectual property and confidentiality. You have to disclose a lot of information about your business idea, product, and strategy, which may expose you to the possibility of copying, stealing, or leaking by other participants, judges, or spectators. You have to be careful about what you share, and protect your intellectual property rights with patents, trademarks, or non-disclosure agreements.

As you can see, business plan competitions can be both beneficial and challenging for SaaS startups. They can help you validate your idea, gain feedback, exposure, and funding, but they can also consume your time and resources, increase your competition and pressure, and endanger your intellectual property and confidentiality. Therefore, you have to weigh the pros and cons , and decide whether a business plan competition is worth pursuing for your SaaS startup. In the next section, we will discuss some of the best practices and tips on how to win a business plan competition . Stay tuned!

Understanding the Importance of Business Plan Competitions - Business plan competitions: How to win business plan competitions and get funding for your saas startup

One of the most important steps in preparing for a business plan competition is to research and select the right one for your saas startup. There are hundreds of business plan competitions around the world, each with different criteria, formats, prizes, and benefits. How do you find the best fit for your venture? How do you increase your chances of winning? In this section, we will provide some insights and tips on how to research and select the right business plan competition for your saas startup . Here are some steps you can follow:

1. Identify your goals and expectations. Before you start looking for a business plan competition, you need to have a clear idea of what you want to achieve from it. Do you want to get feedback, exposure, networking, mentoring, funding, or something else? What are your realistic chances of winning or advancing to the next round? How much time and resources are you willing to invest in preparing and participating? Having a clear vision of your goals and expectations will help you narrow down your options and focus on the most relevant and rewarding competitions.

2. Research the eligibility and requirements. Once you have a list of potential competitions, you need to check their eligibility and requirements. Some competitions may have restrictions on the type, stage, industry, location, or size of the venture. Some may require a certain level of revenue, traction, or validation. Some may have specific formats, deadlines, or rules for the submission, presentation, or judging. You need to make sure that you meet the eligibility and requirements of the competitions you are interested in, and that you can comply with their terms and conditions .

3. evaluate the benefits and costs . Another factor to consider when selecting a business plan competition is the benefits and costs of participating. You need to weigh the potential rewards against the potential risks and expenses. Some of the benefits of participating in a business plan competition may include:

- Prizes. Many competitions offer cash or in-kind prizes, such as equity, grants, services, or access to resources. These prizes can help you fund your venture, validate your idea, or accelerate your growth. However, you need to be aware of the terms and conditions of the prizes, such as the tax implications, the equity stake, or the obligations you may incur.

- Feedback. Participating in a competition can give you valuable feedback from judges, mentors, peers, or customers. This feedback can help you improve your business plan, pitch, product, or strategy. However, you need to be open-minded, receptive, and selective about the feedback you receive, as not all of it may be relevant, accurate, or constructive.

- Exposure. Participating in a competition can give you exposure to potential investors, partners, customers, or media. This exposure can help you raise awareness, credibility, or interest for your venture. However, you need to be prepared, professional, and consistent in your communication and branding, as you may also face competition, criticism, or imitation.

- Networking. Participating in a competition can give you networking opportunities with other entrepreneurs , mentors, experts, or influencers. This networking can help you build relationships, learn from others, or find collaborators or supporters for your venture. However, you need to be proactive, respectful, and genuine in your interactions, as you may also encounter conflicts, challenges, or disappointments.

Some of the costs of participating in a business plan competition may include:

- Time. Preparing and participating in a competition can take a lot of time, especially if you have to write a detailed business plan , create a compelling pitch deck , or practice your presentation. This time may take away from your core activities, such as developing your product, acquiring customers, or managing your team.

- Money. Participating in a competition may involve some expenses, such as travel, accommodation, registration, or materials. These expenses may add up, especially if you have to attend multiple rounds or events. You need to consider your budget and the return on investment of participating in a competition.

- Energy. Participating in a competition can be stressful, exhausting, or frustrating, especially if you face technical issues, tough questions, harsh feedback, or unfavorable results. You need to manage your emotions, expectations, and resilience, and not let the competition affect your motivation, confidence, or vision.

4. Research the competition and the judges. Finally, once you have selected a business plan competition, you need to research the competition and the judges. You need to know who you are competing against, what they are offering, and how they are differentiating themselves. You also need to know who the judges are, what they are looking for, and what they are interested in. This research will help you tailor your business plan, pitch, and presentation to your audience, and highlight your strengths, value proposition, and competitive advantage. You can use online sources, such as websites, social media, blogs, or podcasts, to gather information about the competition and the judges. You can also use your network, such as mentors, peers, or alumni, to get insights, tips, or referrals.

Some examples of business plan competitions that you may want to consider for your saas startup are:

- TechCrunch Disrupt Startup Battlefield. This is one of the most prestigious and popular startup competitions in the world, where startups from any industry, stage, or location can apply to pitch their venture on the main stage of TechCrunch Disrupt, in front of a live audience and a panel of expert judges. The winner receives a $100,000 prize and the coveted Disrupt Cup, as well as media exposure and investor attention.

- MIT $100K Entrepreneurship Competition. This is one of the oldest and largest student-run startup competitions in the world, where teams of students from MIT and other universities can compete in three tracks: Pitch, Accelerate, and Launch. The winner of the Launch track receives a $100,000 grand prize, as well as mentorship, training, and access to resources.

- Y Combinator Startup School. This is not a traditional competition, but a free online course for aspiring and early-stage founders , where they can learn from the best practices and experiences of successful entrepreneurs, and get feedback and support from mentors and peers. At the end of the course, some of the most promising startups are invited to apply to Y Combinator, one of the most influential and selective startup accelerators in the world .

Researching and Selecting the Right Business Plan Competition - Business plan competitions: How to win business plan competitions and get funding for your saas startup

One of the most important parts of your business plan is the executive summary. This is the first thing that potential investors, partners, or customers will read, and it should capture their attention and interest . The executive summary should summarize the main points of your business plan , such as your value proposition, your target market, your competitive advantage, your revenue model, and your financial projections. It should also highlight the problem you are solving, the solution you are offering, and the opportunity you are pursuing. The executive summary should be concise, clear, and compelling, and it should persuade the reader to learn more about your business.

Here are some tips on how to craft a compelling executive summary for your saas startup:

1. Start with a hook. The first sentence of your executive summary should grab the reader's attention and make them curious about your business. You can use a surprising statistic, a bold statement, a provocative question, or a compelling story to hook the reader. For example, you could say: "Did you know that 80% of small businesses fail within the first five years? We have a solution that can help them survive and thrive."

2. Explain the problem and the solution . The next part of your executive summary should explain the problem you are solving and the solution you are offering. You should clearly define the pain point of your target market, the existing alternatives, and the gap in the market. You should also describe how your saas product or service solves the problem , what benefits it provides, and how it differs from the competition. For example, you could say: "Small businesses struggle to manage their finances, accounting, and taxes. They waste time and money on outdated software, complex spreadsheets, and expensive consultants. Our saas platform, FinTax, simplifies and automates these tasks for small businesses. It helps them save time, reduce errors, and optimize their tax returns."

3. Showcase your value proposition and your competitive advantage . The next part of your executive summary should showcase your value proposition and your competitive advantage. You should explain why your saas product or service is valuable, unique, and desirable for your target market. You should also highlight your key features, your differentiation, and your proof of concept. For example, you could say: "FinTax is the only saas platform that integrates finance, accounting, and tax management for small businesses . It offers a user-friendly interface , a cloud-based system, and a smart algorithm that generates personalized tax recommendations. We have validated our product with over 100 beta customers, who have reported an average of 30% increase in profitability and 50% decrease in tax liability."

4. Provide your revenue model and your financial projections. The next part of your executive summary should provide your revenue model and your financial projections. You should explain how you make money, what your pricing strategy is, and what your cost structure is. You should also provide your key financial metrics , such as your revenue, your expenses, your profit, your growth rate, and your break-even point. You should also indicate your funding needs, your valuation, and your exit strategy. For example, you could say: "We charge a monthly subscription fee of $99 for our saas platform, which includes unlimited access to all our features and support. Our cost of goods sold is $20 per customer, which includes hosting, maintenance, and customer service. Our gross margin is 80%, and our operating margin is 50%. We project to reach $10 million in annual recurring revenue , $5 million in net income, and 10,000 customers by the end of year three. We are seeking $1 million in seed funding, which will give us a 12-month runway and a 10x return on investment. Our exit strategy is to be acquired by a larger saas company in the finance or tax industry."

5. End with a call to action. The last part of your executive summary should end with a call to action. You should invite the reader to take the next step, such as contacting you, scheduling a demo, or signing up for a free trial. You should also provide your contact information, your website, and your social media links . For example, you could say: "If you are interested in learning more about FinTax, please visit our website at www.fintax.com, where you can sign up for a free 14-day trial. You can also email us at [email protected], or follow us on Twitter, Facebook, and LinkedIn. We look forward to hearing from you and helping you grow your business.

Crafting a Compelling Executive Summary - Business plan competitions: How to win business plan competitions and get funding for your saas startup

Developing a Solid Business Model and Revenue Strategy is a crucial aspect of building a successful SaaS startup . In this section, we will explore various insights and perspectives on how to effectively create a business model that generates revenue .

1. understand Your Target market : Before developing your business model , it is essential to have a deep understanding of your target market . conduct thorough market research to identify your customers' needs, pain points, and preferences. This knowledge will help you tailor your revenue strategy to meet their specific requirements .

2. choose the Right Pricing model : Selecting the appropriate pricing model is vital for generating revenue. Consider different options such as subscription-based pricing , tiered pricing, or usage-based pricing , depending on your product and target audience. Analyze competitors' pricing strategies and determine the value your product offers to set competitive and profitable pricing.

3. diversify Revenue streams : Relying solely on one revenue stream can be risky. Explore opportunities to diversify your revenue streams by offering additional services , upselling premium features , or partnering with complementary businesses. This approach can help mitigate risks and create a more stable and sustainable revenue model .

4. Leverage Freemium or Trial Models: Offering a freemium or trial version of your product can attract potential customers and drive conversions. By providing a limited version of your product for free or a trial period, you can showcase its value and encourage users to upgrade to a paid plan. This strategy can help you acquire new customers and increase revenue.

Developing a Solid Business Model and Revenue Strategy - Business plan competitions: How to win business plan competitions and get funding for your saas startup

creating an Effective Pitch deck is a crucial aspect of winning business plan competitions and securing funding for your SaaS startup . In this section, we will explore various insights from different perspectives to help you craft a compelling pitch deck that stands out.

1. Start with a captivating opening: Begin your pitch deck with a strong hook that grabs the attention of investors. This could be a compelling statistic, a thought-provoking question, or a powerful statement that highlights the problem your SaaS startup aims to solve.

2. Clearly define the problem: Clearly articulate the problem or pain point that your SaaS product addresses. Provide relevant data or real-life examples to demonstrate the significance of the problem and its potential impact on the target market .

3. Present your unique solution: Showcase your SaaS startup's unique solution to the problem. Highlight the key features and benefits that set your product apart from competitors. Use visuals, such as screenshots or product demos, to illustrate how your solution works in practice.

4. market analysis and target audience: conduct a thorough market analysis to demonstrate your understanding of the industry landscape. identify your target audience and explain why they would benefit from your SaaS product. Use market research data and customer testimonials to support your claims.

5. business model and monetization strategy: Clearly outline your business model and how you plan to generate revenue. Explain your pricing structure, subscription plans, or any other monetization strategies you have in place. Investors want to see a clear path to profitability.

6. Showcase your team: Introduce your team members and their relevant expertise. Highlight any previous successes or industry experience that adds credibility to your startup. Investors often invest in the team behind the product, so make sure to emphasize their qualifications.

7. Financial projections and milestones: Provide realistic financial projections that demonstrate the growth potential of your SaaS startup . Include key metrics such as revenue projections, customer acquisition costs , and projected profitability. Highlight significant milestones you have achieved or plan to achieve in the future.

8. Use visuals effectively: Incorporate visually appealing slides that enhance the overall presentation. Use charts, graphs, and infographics to present data in a clear and concise manner. Visuals can help investors grasp complex information quickly and leave a lasting impression .

Remember, an effective pitch deck should be concise, compelling, and visually engaging. Tailor your presentation to the specific needs and interests of your target audience. Practice your pitch thoroughly to ensure a confident and persuasive delivery. Good luck with your business plan competition and securing funding for your saas startup!

Creating an Effective Pitch Deck - Business plan competitions: How to win business plan competitions and get funding for your saas startup

One of the most important skills for any entrepreneur is the ability to present their business idea with confidence and conviction. Whether you are pitching to investors, customers, partners, or judges, you need to convince them that your saas startup is worth their attention, trust, and money. In this section, we will share some tips and best practices on how to prepare and deliver a winning presentation for a business plan competition. Here are some of the key points to consider:

1. Know your audience. Before you start crafting your presentation, you need to understand who you are talking to and what they are looking for. Different audiences may have different expectations, interests, and questions about your saas startup. For example, investors may want to know more about your revenue model, market size, and traction, while customers may care more about your value proposition, features, and benefits. You should tailor your presentation to suit the needs and preferences of your audience and anticipate their possible objections or concerns.

2. Structure your presentation. A well-structured presentation will help you communicate your message clearly and effectively. A common framework for a business plan presentation is the following:

- Introduction: Start with a hook that captures the attention of your audience and introduces your saas startup. You can use a story, a statistic, a question, or a problem that your startup solves. Then, briefly state your mission, vision, and value proposition.

- Problem: Explain the problem that your saas startup addresses and why it is important. You can use data, facts, or anecdotes to illustrate the pain points of your target market and how they are currently unsatisfied or underserved by existing solutions.

- Solution: Describe your saas product or service and how it solves the problem that you identified. You can use screenshots, demos, or testimonials to showcase your features, benefits, and competitive advantages. You should also explain how your solution is different from or better than your competitors.

- Market: Define your target market and customer segments and estimate the size and growth potential of your market. You should also identify your customer acquisition channels and strategies and demonstrate that you have validated your product-market fit and customer demand .

- Business model: Explain how your saas startup makes money and what are your revenue streams, pricing, and cost structure. You should also provide your financial projections, assumptions, and milestones and show that you have a scalable and sustainable business model .

- Team: Introduce your co-founders and key team members and highlight their relevant skills, experience, and achievements. You should also mention any advisors, mentors, or partners that support your saas startup and add credibility to your venture.

- Ask: End your presentation with a clear and specific ask that tells your audience what you want from them and what they will get in return. Depending on your audience, your ask could be an investment, a feedback, a referral, a trial, or a sale. You should also summarize your main points and thank your audience for their time and attention.

3. Practice your presentation. Once you have your presentation ready, you need to practice it until you feel confident and comfortable. You should rehearse your presentation in front of a mirror, a camera, or a friend and get feedback on your content, delivery, and timing. You should also prepare for possible questions or challenges that your audience may have and have ready answers or solutions. You should aim to deliver your presentation in a clear, concise, and compelling way that showcases your passion, enthusiasm, and professionalism.

4. Deliver your presentation. On the day of the competition, you need to be ready to impress the judges and the audience with your presentation. You should arrive early, check the equipment, and familiarize yourself with the venue and the format. You should also dress appropriately, smile, and make eye contact with your audience. You should speak with a loud, clear, and confident voice and use gestures, pauses, and variations in tone and speed to emphasize your points. You should also engage your audience with questions, stories, or humor and show that you are excited and proud of your saas startup. You should avoid reading from your slides, using jargon or acronyms, or going over your time limit. After your presentation, you should thank your audience, invite questions or feedback, and follow up with any contacts or leads that you generated.

Presenting with Confidence and Conviction - Business plan competitions: How to win business plan competitions and get funding for your saas startup

One of the most valuable aspects of participating in a business plan competition is the opportunity to network with other entrepreneurs, mentors, investors, and industry experts. Networking can help you gain feedback, insights, advice, contacts, and potential partners or customers for your saas startup . However, networking is not just about exchanging business cards or pitching your idea. It is about building genuine relationships, learning from others, and offering value in return. Here are some tips on how to leverage networking opportunities during and after a business plan competition:

1. Research the attendees and judges. Before the competition, find out who will be attending and judging the event. Look up their backgrounds, interests, and expertise on LinkedIn or other platforms. Identify the people who are most relevant to your startup and prepare some questions or topics to initiate a conversation with them. For example, you could ask them about their experience in the saas industry, their current challenges or goals, or their opinion on a recent trend or innovation.

2. Practice your elevator pitch. An elevator pitch is a short and compelling summary of your startup that you can deliver in 30 seconds or less. It should capture the attention of your listener and make them want to learn more. You will need an elevator pitch to introduce yourself and your startup to potential network contacts during the competition. Practice your pitch until you can deliver it confidently and clearly. Make sure to tailor your pitch to your audience and highlight the value proposition, the problem you are solving, and the traction you have achieved or the impact you aim to create.

3. Be proactive and approachable. Don't wait for others to come to you. Be proactive and seek out opportunities to connect with people who interest you. Introduce yourself, give your elevator pitch , and ask open-ended questions to start a conversation. Be friendly, courteous, and respectful. Smile, make eye contact, and use positive body language . Show genuine interest and curiosity in the other person and listen actively to what they have to say. Avoid interrupting, dominating, or arguing with them. Try to find common ground and build rapport.

4. follow up and stay in touch . After the competition, don't let your new connections fade away. Follow up with them within 24 hours and thank them for their time and attention. Remind them of who you are and what you discussed. Express your interest in continuing the conversation and suggest a next step. For example, you could ask for their feedback on your pitch, invite them to a demo of your product, or request an introduction to someone in their network. Keep the communication going and provide value to them. For example, you could share useful resources, offer your help, or congratulate them on their achievements. Maintain the relationship until you can meet them again in person or online.

Leveraging Networking Opportunities - Business plan competitions: How to win business plan competitions and get funding for your saas startup

One of the most challenging and rewarding aspects of participating in a business plan competition is navigating the judging process. The judging process is where you get to showcase your saas startup idea, demonstrate your market research, validate your assumptions, and pitch your vision to a panel of experts, investors, and potential customers. The judging process can also be a great opportunity to get feedback, network, and learn from other entrepreneurs. However, the judging process can also be intimidating, unpredictable, and stressful. How can you prepare for the judging process and increase your chances of winning the competition? Here are some tips and best practices to help you navigate the judging process successfully.

1. Know the criteria and the audience. Different competitions may have different criteria for evaluating the business plans and the pitches. Some may focus more on the feasibility and scalability of the idea, while others may emphasize the social impact or the innovation. Some may have specific themes or categories, such as healthcare, education, or sustainability. You should familiarize yourself with the criteria and the expectations of the competition and tailor your plan and your pitch accordingly. You should also research the background and the interests of the judges and the audience. What are their expertise, experience, and preferences? What are the questions they are likely to ask? What are the pain points they are facing or the opportunities they are looking for? You should address these aspects in your plan and your pitch and show how your saas startup can solve their problems or meet their needs.

2. Practice and polish your pitch. Your pitch is your chance to make a lasting impression on the judges and the audience. You should practice and polish your pitch until you can deliver it confidently, clearly, and convincingly. You should have a compelling story that explains the problem you are solving, the solution you are offering, the value proposition you are creating, and the traction you are achieving. You should also have a strong elevator pitch that summarizes your saas startup in one or two sentences. You should rehearse your pitch in front of different audiences, such as your peers, mentors, or potential customers, and get feedback on your content, delivery, and style. You should also prepare for different scenarios, such as different time limits, formats, or technical issues, and adjust your pitch accordingly.

3. Anticipate and answer the questions. The judges and the audience will likely have questions about your saas startup, your business plan, and your pitch. You should anticipate and prepare for the most common and the most challenging questions, such as the market size, the competitive advantage, the revenue model, the customer acquisition, the team, the risks, and the milestones. You should also be ready to answer any unexpected or specific questions that may arise from your plan or your pitch. You should answer the questions honestly, concisely, and respectfully. You should also use the questions as an opportunity to highlight your strengths, address your weaknesses, and showcase your passion and enthusiasm.

4. Learn and improve from the feedback. The judging process is not only a competition, but also a learning experience. You should listen and appreciate the feedback you receive from the judges and the audience, whether positive or negative. You should also reflect and act on the feedback, and use it to improve your saas startup, your business plan, and your pitch. You should also learn from the other participants, and observe their strengths, weaknesses, and strategies. You should also network and connect with the judges, the audience, and the other entrepreneurs, and seek their advice, support, or collaboration.

Navigating the judging process can be a daunting task, but it can also be a rewarding one. By following these tips and best practices, you can increase your chances of winning the business plan competition and get funding for your saas startup. Good luck!

Navigating the Judging Process - Business plan competitions: How to win business plan competitions and get funding for your saas startup

You have participated in a business plan competition and presented your saas startup idea to a panel of judges and investors. Congratulations! But what happens next? How can you leverage this opportunity to maximize your funding chances and growth potential? In this section, we will explore some strategies and tips to help you make the most of your post-competition experience. We will cover the following topics:

1. How to follow up with the judges and investors who showed interest in your startup.

2. How to use the feedback and insights you received from the competition to improve your business plan and pitch.

3. How to network with other participants, mentors, and organizers of the competition and build valuable relationships .

4. How to showcase your achievements and recognition from the competition to boost your credibility and visibility in the market.

5. How to plan your next steps and milestones for your startup and set realistic and achievable goals .

One of the main benefits of participating in a business plan competition is the exposure and access to potential investors and partners . If you impressed some of the judges and investors with your startup idea , you should not let this opportunity go to waste. You should follow up with them as soon as possible and keep them updated on your progress and achievements. Here are some tips on how to do that:

- Send a thank you email to each judge and investor who gave you positive feedback or expressed interest in your startup. Express your appreciation for their time and attention, and restate your value proposition and competitive advantage. Attach your executive summary and pitch deck to the email, and invite them to schedule a meeting or a call with you to discuss further.

- Keep track of your contacts and interactions with the judges and investors using a CRM tool or a spreadsheet. Make sure you have their names, email addresses, phone numbers, and other relevant information. Record the date and outcome of each communication, and set reminders for follow-ups.

- Be proactive and consistent in your communication. Don't wait for them to reach out to you. Send them regular updates on your progress, such as new features, customers, revenue, awards, press coverage, etc. Show them that you are serious and committed to your startup, and that you are achieving traction and validation in the market.

- Be prepared and professional in your meetings and calls with the judges and investors. Have a clear agenda and objective for each conversation, and be ready to answer their questions and address their concerns. Demonstrate your passion and enthusiasm for your startup , and show them how you can solve their pain points and create value for them.

- Ask for referrals and introductions to other potential investors and partners who might be interested in your startup . leverage the network and reputation of the judges and investors who are already on board with your idea, and expand your reach and influence in the industry.

2. How to use the feedback and insights you received from the competition to improve your business plan and pitch .

Another benefit of participating in a business plan competition is the feedback and insights you receive from the judges, investors, mentors, and peers. You can use this information to improve your business plan and pitch, and to identify and address any gaps or weaknesses in your startup. Here are some tips on how to do that:

- Review and analyze the feedback and insights you received from the competition. Identify the common themes and patterns, and prioritize the most important and relevant ones. For example, if multiple judges and investors pointed out that your market size is too small or your revenue model is unclear, you should focus on addressing these issues first.

- Validate and test the feedback and insights you received from the competition. Don't blindly accept or reject them without evidence or data. Conduct market research, customer interviews, surveys, experiments, etc. To verify or challenge the assumptions and hypotheses behind the feedback and insights. For example, if a judge suggested that you should target a different customer segment or use a different pricing strategy, you should test these ideas with your actual or potential customers and measure the results.

- Implement and iterate on the feedback and insights you received from the competition. Based on your validation and testing, make the necessary changes and improvements to your business plan and pitch. Update your value proposition, market analysis, competitive analysis, revenue model, financial projections, etc. To reflect the new information and data. Refine your pitch to make it more clear, concise, compelling, and convincing. Practice your pitch with different audiences and scenarios, and solicit feedback and suggestions for further improvement.

3. How to network with other participants, mentors, and organizers of the competition and build valuable relationships.

A third benefit of participating in a business plan competition is the opportunity to network with other participants, mentors, and organizers of the competition. You can learn from their experiences and expertise, and build valuable relationships that can help you grow your startup and career. Here are some tips on how to do that:

- Connect with other participants, mentors, and organizers of the competition on social media platforms such as LinkedIn, Twitter, Facebook, etc. Follow their updates and posts, and engage with them by liking, commenting, sharing, etc. Show your interest and appreciation for their work and achievements, and offer your support and assistance if possible.

- attend and participate in the events and activities organized by the competition or its partners, such as workshops, webinars, panels, networking sessions, etc. Introduce yourself and your startup to other attendees, and exchange contact information and business cards. Ask relevant and insightful questions, and share your opinions and insights. Be friendly and respectful, and avoid being too salesy or pushy.

- Follow up and keep in touch with the people you met at the events and activities organized by the competition or its partners. send them a thank you email or a message , and express your interest in staying connected and learning more about them and their work. Invite them to join your newsletter, blog, podcast, etc. Or to follow your social media accounts. Share useful and relevant resources, articles, tips, etc. With them, and ask for their feedback and advice. Seek opportunities to collaborate or partner with them on projects, initiatives, or events that can benefit both parties.

A fourth benefit of participating in a business plan competition is the recognition and exposure you get from the competition. You can use this to boost your credibility and visibility in the market, and to attract more customers, investors, partners, and media attention. Here are some tips on how to do that:

- Announce and celebrate your achievements and recognition from the competition on your website, blog, newsletter, social media accounts , etc. Share the details and highlights of your participation and performance in the competition, and thank the organizers, sponsors, judges, investors, mentors, and peers for their support and contribution. Include photos, videos, testimonials, quotes, etc. To make your announcement more engaging and authentic.

- Display and leverage the logos, badges, certificates, awards, etc. That you received from the competition on your website, pitch deck, email signature, etc. Use them to showcase your credibility and authority in your industry and niche, and to differentiate yourself from your competitors. For example, you can use phrases like "Winner of the XYZ Business Plan Competition 2024" or "Featured in the ABC Business Plan Competition 2024" to highlight your achievements and recognition from the competition.

- Reach out and pitch to the media outlets, publications, podcasts, blogs, etc. That cover your industry and niche, and that are relevant and influential to your target audience. Tell them your story and your value proposition, and how you participated and performed in the competition. Explain why your startup is newsworthy and interesting, and how it can benefit their readers, listeners, or viewers. Provide them with your press kit, which should include your press release, executive summary, pitch deck, logo, photos, videos, etc. Follow up and follow through with the media contacts, and offer them exclusive interviews, quotes, comments, etc.

5. How to plan your next steps and milestones for your startup and set realistic and achievable goals.

A fifth benefit of participating in a business plan competition is the motivation and inspiration you get from the competition. You can use this to plan your next steps and milestones for your startup, and to set realistic and achievable goals . Here are some tips on how to do that:

- Review and evaluate your current situation and status of your startup. assess your strengths and weaknesses , opportunities and threats, and risks and challenges. Identify the gaps and areas that need improvement or attention. Determine the resources and capabilities that you have or need to achieve your desired outcomes .

- Define and prioritize your next steps and milestones for your startup. Based on your assessment, decide what actions and tasks you need to take and complete to move your startup forward and closer to your vision. Break down your big and long-term goals into smaller and short-term goals , and assign deadlines and responsibilities for each of them. Use the SMART framework to make your goals specific, measurable, achievable, relevant, and time-bound.

- Track and measure your progress and performance. Use tools and metrics to monitor and evaluate your results and impact. collect and analyze data and feedback from your customers, investors, partners, etc. To validate or invalidate your assumptions and hypotheses. Celebrate your wins and learn from your failures. Adjust and adapt your plans and strategies as needed, based on your findings and insights.

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