This week, the 10th annual Rice University Business Plan Competition kicked off. Last year, winners took home $800,000 in funding.
This year, competition winners will take home $1 million in funding, including $385,000 that will go to the competition's winner.
Business plan competitions are one of many overlooked sources of funding for new and growing businesses.
If you are comfortable with your business plan, seek out local business plan competitions in order to raise capital (you will also meet a lot of quality people at these events who may become advisors, partners, employees, etc.).
Importantly business plan competitions are just one of 28 unique sources of funding presented in Growthink's Definitive Guide to Creative & Alternative Financing Sources.
As many successful entrepreneurs have learned, tapping creative and alternative funding sources is often the easiest and quickest way to raise capital. This is because they are less competitive (because they are less known) than traditional financing sources.
Download Growthink's Definitive Guide to Creative & Alternative Financing Sources today to find the funding sources you probably didn't even know existed.