“Real Ideas, Real Companies”, it says on the website of the first business plan competition in the world. About 85 companies are here in the starting holes gone, and its stock market value is now at over 10 billion U.S. dollars. 2,500 jobs were created and 600 million U.S. dollars venture capital countries. The name of the competition: “WITH 100K Entrepreneurship Competition”. “MIT” stands for the famous Massachusetts Institute of Technology, “100K” for the entire prize money - 100,000 dollars.

What is it about?

“Ideas in enterprises,” - the MIT students should learn. In interdisciplinary teams, they are to an expert panel with a business plan to convince. They must pay the same questions, the private investors in the economy raised: How quickly can the product on the market? Is it against competitors? What growth potential in the business idea? Can a market leader? Is the team well? Why should the company in five years on the market? Who presented the best answers, as the winner with 30,000 U.S. dollars to go home.

Since 1990, there is the business plan competition at MIT, 1995 the idea came to Germany: The Berlin Business Plan Competition was on its feet; Munich Business Plan Competition (MBPW) in the same year went to the starting line. His prize money winners expect a total of 75,000 euros. Meanwhile, there are about 80 of these competitions in Germany, national or regional focus. In part, they are organized for specific industries such as multimedia or life science. Some competitions are open for business ideas from all sectors of the economy.

What lies behind the term Business Plan Competition? The participants develop business ideas into a workable concept, with which it against other teams in a contest occur. An independent jury evaluated these concepts and awards prizes. An award winning business concept pays twice: Full attraction are the attractive prize money, and private investors are faster money in the new company to connect. In this way, promote business plan competitions entrepreneurship in Germany.

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