And the Winner Is... Business plan contests offer more than money

Question: I've seen a lot of business plan contests advertised on the internet that seem to be offering big money prizes. Are these contests real? What are my chances of winning?

Answer: While no one can guarantee you'll win a business plan contest, it's definitely worth a shot. These days, dozens of business schools and universities are hosting business plan contests, some with cash prizes as high as $100,000. States, such as Wisconsin and others, are sponsoring contests, too. But money isn't the only reason to enter a business plan competition. You'll also get a chance to strut your stuff in front of an audience of venture capitalists and angel investors who may decide to fund your plan whether you win or not.