Business Plan Competition Flyer( Font and Back side)
On Thursday, February 25th Amy came to our class to speak to us about the UW Business Plan Competition. She told us that this competition is open to all students in colleges all over the state. She said that on the first round over 102 teams apply and only 36 teams move forward to the next phase. In the end the top 3 teams are picked and receive a cash price. As noted on their Website:
2015 Prizes
$25,000 Grand Prize sponsored by the Herbert B. Jones Foundation
$10,000 Second Place Prize sponsored by WRF Capital
$5,000 Finalist Prizes sponsored by Friends of the BPC and Fenwick & West
She said a good way to think about the competition is to think of how you and your team would keep your company running for the next 6 months to a year. She recommends applying and following through on it as best as you can because a lot of good things can come out of this for you. She said that over a period of 6 years they have helped create 46 companies, out of which 37 are still in existence today. But if for example you were a student who is thinking of going to a job right after you are done with your degree then you should still apply. She says even if you do not want to go work at a startup or start one yourself with the team the experience you gain is very valuable. This experience will show your employers that you can start and finish a project given the fact that you basically started a whole business from the ground up. And the networking opportunities are tremendously valuable as many of this people could be helpful contacts in the future whether you want to start a business or get hired by a company.
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