Application Deadline for the Munich Business Plan Competition on January 15
The BayStartUp Munich Business Plan competition is still seeking applications from start-ups for the first stage of the 2019 edition of the competition. Phase one of the three-stage competition focuses on the broad strokes of the business plan and customer value creation, to be presented in a seven-page plan. Applications can be submitted for phase one until January 15. Start-ups can register for later rounds without participating in previous phases.
All participating companies will receive written feedback on their business plans from a panel of businesspeople, technical experts, and investors. To help strengthen pitches, start-ups are also invited to participate in a variety of free business-planning workshops. In addition to financial awards for success at each stage of the competition, top teams have the chance to be invited to investor events and accepted into the BayStartUp coaching program. BayStartUp claims their role as an intermediary between startups and investors has led to 150 million euros of investment shared between 150 firms in the last three years alone.
The first Munich Business Plan competition was held in 1996/97, and today is one of four annual competitions that BayStartUp organizes for different geographic regions of Bavaria. More than 1,600 companies have taken part in these four competitions, and today contribute approximately €1 billion to the Bavarian economy with the help of the feedback received. Last year’s top three start-ups were from the medtec, mobility, and automation sectors, but participants from all sectors are welcome. Seven of the top nine finalists from the 2018 competition, including two of the top three, were spin-offs from the Technical University of Munich.
In addition to organizing the Bavarian Business Plan competitions, BayStartUp operates as a business consultancy, serves as a networking organization, and offers workshops and coaching in topics such as tax law. They are the business arm of two associations for innovative business, Förderverein innovatives Unternehmertum Nordbayern e.V. and Förderverein innovatives Unternehmertum Südbayern e.V. BayStartUp also receives funding from the Bayerische Staatsministerium für Wirtschaft, Energie und Technologie.
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