Business Plan Competitions

Business plan competitions support "network creators" in technology
development. Participants in competitions transform uncertainties
inherent in any idea and turn them into an opportunity by answering
questions previously not answered by inventors. These network
creators change a problem into an opportunity through collaboration
and open innovation principles that are fostered through the
competition.

Business plan competitions are also designed to accelerate capability
building within participants by helping them to learn about business
strategy as well as innovation. The competitions help inventors learn
about, explore, and pursue business trajectories that were previously
not considered. In this way competitions permit business
experimentation, naturally filtering of poor ideas as well as
providing the most promising business opportunities constructive
feedback.

By helping participants to master the techniques required to make
solid business plans, participants in business plan competitions are
well-positioned to create substantial economic value.

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Mercury Technology Labs (www.mercurytechlabs.com) is organizing the
FedEx Institute of Technology's 2nd Annual Mid-South Business Plan
Competition. For more information visit
http://fedex.memphis.edu/bizplan/