Business plan competitions have become an entry gate to the entrepreneurial ecosystem for tens of thousands of young Indians. But in the past few years, these competitions have done more harm than good to the economy. Can we redesign the structure of b-plan competitions to help India become a 5 trillion dollar economy?
A dream can be an entry gate to eternity, a 13th-century Persian philosopher and writer, Rumi once said. In reality, an entry gate is a dream for an eternal number of people. Finding the right entry gate to one's dream career is crucial. And building a startup has become one of the most common dreams.
India's entrepreneurial ecosystem is thriving thanks to these ambitious dreams and untamed spirits. And in recent years, university campuses, colleges, and schools have started banking on them. They have started organising business plan competitions.
These competitions provide a productive and practical platform for aspiring entrepreneurs. And help them connecting with mentors, experts, and investors. Importantly, they form a basis for entrepreneurs to test their ideas and devise a way to plan and execute them.