Business plan competitions in tertiary institutions: encouraging entrepreneurship education

The development of entrepreneurial skills and knowledge is a priority for governments that want to encourage an innovative and enterprising society. Furthermore, education institutions are becoming increasingly required by employers to produce graduates that have practical, real-world skills. Business plan competitions, although primarily aimed at producing start-ups, have been found to provide a range of benefits to participants, the most important being the development of entrepreneurial skills, access to mentors, opportunity for networking and increased self-confidence and risk-taking propensity.