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History
The Georgia Tech BPC is in its 13th year fostering entrepreneurship among Georgia Tech students and alumni. The purpose of the program is three-fold:
- Create an integrated learning experience that promotes "academic" excellence in the development of entrepreneurial concepts and business plans
- Encourage the founding of high-value, leading-edge enterprises and support student teams choosing to move forward with the startup of their businesses and to continue to contribute to and expand the entrepreneurial community internally within Georgia Tech and externally within the local, regional, national, and international entrepreneurial communities.
- To inspire students to consider entrepreneurship as a career choice
Since its inception in 2001, over 875 students and alumni have participated in this annual competition; and in total over $700,000 has been awarded in cash and services. And although the principle mission of the competition is to help inspire entrepreneurial spirit and to develop skills, each year several teams launch companies to take their product concepts to the market.
In 2013, a total of $67,000 will be awarded as prizes as students demonstrate skills and compete for recognition and prizes in venture creation activites common to technology entrepreneurship. In 2013 the focus will be on developing and validating effective business models; and product and service concepts that address critical and/or evolving needs and gaps in current markets. Participants will have the opportunity to learn from teaching professionals and coaches using training materials and hands on techniques sanctioned by the NSF and current used extensively in the NSF I- Corps program. Participants will also have significant exposure to local entrepreneurs and investors with the opportunity to attend workshops designed specifically to help the particpants develop effective techniques for pitching to technology venture investors. Participants will learn customer discovery and validation techniques, fundamentals in building effective business models, and venture planning techniques directly from individuals who are positioned in the entrepreneurial community to help them. Prizes are awarded in categories such as Best Business Model, Best Elevator Pitch, Best Product Showcase, Most Commercializable Venture, Most Innovative Technology, Best Investor Pitch, and several others
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The 2013 Georgia Tech Business Plan Competition begins in the Fall 2012 semester with entrepreneurship curriculum courses and workshops designed to help students establish teams, refine their venture ideas, and develop business planning materials. The actual competition is a series of events beginning in December with the Business Model Gauntlett and culmuniating in early March with the Specialty and Investor Rounds of competition. In addition to being eligible for those awards, Undergraduate teams are also eligible to win up to $2000 if recognized as the Best Undergraduate Team.
Community Building
The Business Plan Competition is an important contributor to the expansion of entrepreneurship locally, regionally, nationally, and internationally. Each year, the competition draws from 100 to 120 leading venture capitalists, angel investors, entrepreneurs, and business people to participate as judges, mentors, and workshop presenters.
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