Companies turn to business plan competitions for capital and recognition

In a time when startup companies – especially those based in the biotechnology industry – are struggling to raise capital, several San Diego firms have managed to beat the odds by harnessing the power of business plan competitions. The three companies profiled in Keith Darcé’s article “Biotech startups use contests as springboards” (San Diego Union-Tribune, 6/21) have each earned recognition and won significant monetary prizes for their ventures by delivering strong business plans and impressive presentations at one or more business plan competitions this year.

This is just another example of companies utilizing alternative options such as business plan competitions to get their startups off the ground. While the process certainly isn’t easy, many business plan competition participants have successfully established themselves and their companies thanks to the funds they were able to secure.

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Co-founder of 2009 graduate of Nazareth College (Rochester, NY) who enjoys riding horses and motorcycles (in that order).
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  • Business Plan Resources

    Do you have a business idea or want to enter a business plan competition but not sure where to start? See our list of must-read business plan resources.