Entrepreneurship is alive and well in our nation’s universities. Just take a look at the growing list of business plan competitions that are hosted (at no small cost) by leading universities nationwide. Graduate students—not just MBA students, but student scientists, engineers, medical doctors and others—spend hundreds of hours preparing business plans and presentations in the hope of getting a chance to compete at one or more of these student entrepreneur events.
Why are these contests so popular? Yes, there is prize money—cash prizes often total $25,000 to $50,000 or more. Some contests award equity funding of up to $100,000 (such as the MOOT CORP at the University of Texas at Austin). But these amounts, while generous, are seldom enough to finance high-growth or even modest-growth enterprises.
via Anthony Cerminaro.