6 ms·

Steve overlooks an important part of the competition - the opportunity to win non-dilutive financing in a time where fundraising is hard.

• jaydub 17y ago
  Very true, although perhaps what Steve is trying to say here is that the opportunity cost of a business plan is (in his experience) a lot higher than most people think. Maybe you win several thousand dollars, however, if you spent that energy on developing an actual business you'd likely be much closer towards the realization of your goal. "I have seen students spend well over a year refining a business plan competition pitch" - I think this is his main gripe. If you can do it without much additional effort why not.
• skmurphy 17y ago
  The only non-dilutive financing is customer revenue.
  • lacker 17y ago
    Not true. Some competitions (like Facebook's last fbfund competition) just give you money.