Seems like a pretty obvious avenue for business plan competitions to head and it is media concern Business Week that appears to be talking it from campus entrepreneurship to the broader world. The Entrepreneurial Mind has a post on it and here is the article from MediaWeek.com. From the article thats BusinessWeek.com’s acting editor-in-chief, John Byrne.
The site is also exploring the launch of an online-video-based contest that would invite anyone with an idea for the new business to submit a plan on the site with a chance to land $500,000 in venture capital funding.
Byrne, speaking during a panel session at the Interactive Media Conference in Miami, FL. on May 24, said that like YouTube, users would rate each proposal and ultimately vote on the winner, who would receive half a million dollars from a VC firm to invest in the proposed business.
The model for a business plan contest has clear shortcomings, but no doubt it could be fun and will benefit Business Week in terms of marketing.
3 responses so far ↓
EnigmaNetx // June 11, 2007 at 8:57 pm |
JUNE 11, 2007
I’m a Grandmother with an exiting Business Plan!
Can I enter the contest? Or, is it for younger people only?
sincerely,
enigmanetx@yahoo.com
David // June 12, 2007 at 12:23 am |
Right now it looks like this is just something that business week is considering. A lot of business plan contests have rules about who can enter (MBA students, any students, alumni, staff, residents of a particular location)… I would start by looking to see if your state or city has a business plan contest. Those typically have a location and venture stage (ie just plan or less than 500k in funding or revenue) requirements.
Let us know how it turns out.
Place to Post and Watch Pitches « Campus Entrepreneurship // August 10, 2007 at 1:54 pm |
[...] Aug 10th, 2007 by Campus Entrepreneurship Found this a few weeks ago on Springwise. A website for posting and watching pitches for new ventures. Vator.tv describes itself as “a catalyst for innovation. It is a professional network and marketplace for ideas and businesses. Anyone, across all industries, at any stage, can share ideas, products, services and businesses with the rest of the world, mainly through video.” They seem to be doing what YouTube and BusinessWeek were said to be considering. [...]