Business Plan Competition Frequently Asked Questions

Can non-business students enter the competition?
Yes. The Business Plan Competition is open to ALL students who are currently enrolled in a degree program in the state of Washington.

If I don’t find any team members that really seem like “the right fit” during the Networking Nights, is it OK to have a “team” of just one person?
It is OK to have just one person on a team. However, if you advance to the Investment Round, you’ll want to add a few people to your team to help you pitch to judges.

Can we submit a business plan into the competition for a business that is or may become a nonprofit / social business in the future?
The competition is open to all types of businesses. Every year there are nonprofit or social-venture businesses in the competition.

Is there a BPC archive that has a synopsis of the BPC plans submitted so far?
Yes, but you must come to the Buerk Center to look at it. Be sure to call or email the Buerk Center office to set-up a time.

Can a student submit plans for more than one team?
You are allowed to participate in the Business Plan Competition with more than one team. It can be a logistical challenge to do that at the Investment Round and Sweet 16, but it is possible.

Am I allowed to have a faculty member as a mentor for the BPC?
You can have a faculty member as a mentor. You can also use MentorConnect to find experts who can help you with your company.

I am part of a company looking to recruit students to assist in taking my idea through the Business Plan Competition. How should I go about doing this?
The BPC is a process and competition for student-driven companies, and we have a strict policy guiding outside companies recruiting students to join their team in order to compete:

  • Students must have an ownership stake in the business or the potential for equity or employment.
  • Only student team members are eligible to earn prize money. No payments will be made to non-students.

Can I compete two years in a row?
Students are welcome and encouraged to participate as many times as they want–as long as they are a student (enrolled in a degree seeking program in Washington state) or have a student on their team.

Can I change the name of the business at some point during the competition?
You are allowed to change your company name during the competition. We recommend that you reference the name change in your documents (one-page executive summary or business plan).

Can I have more than four members on my team?
You can have as many people on your team as your like; there is no official limit. Most teams are three to five people, but you can do whatever makes the most sense for you. However, only four teammates can pitch at a time during the Investment Round. If you have more than four team members, you can tradeoff.

Is the list of judges for the Business Plan Competition available to the participants?
We don’t release our judge lists for any of the rounds.

Do judges or coaches usually sign NDAs (non-disclosure agreements)?
Judges and coaches do not sign NDAs. This is common practice in the entrepreneurial world, especially when you are pitching your idea to investors. You should figure out a way to talk about your business, but not give away the confidential information that could be patented, trademarked, or that is simply your secret sauce.

How many judges are there at each round of the competition?
This depends on the round. Here’s the approximate breakdown

Screening round
Investment round
Sweet 16
Final round
8-10 judges will read your plan
250 judges
closed session with 7 judges
7 judges and open to the public
 

Contact Amy Sallin at asallin@uw.edu or 206.685.9868 for more information.