Using Awards and Contests to Finance your Business

Raise Capital with Awards and Contests from The Startup Garage
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Throughout history, businesses have been born and thrived through competitions and awards. Most famous is perhaps the yearly international Nobel Prizes that recognize advances in culture and science to the amount of $1.46 million dollars. There is also NASA’s Centennial Challenges that gives out awards up to $2 million during technology competitions. Although time consuming, these types of recognition prizes are great sources of free income and capital if you can put in the work.

A large majority of business plan competitions are found at Business Schools and are only open to students, or alumni members. However, with some investigation on your part, there are still many contests that are open to the best winner. Research your industry and state competitions, and be sure to prepare your business plan.


  • Government Challenges is an online platform created by the U.S. General Services Administration to tackle pressing challenges in the nation while promoting innovation.
  • The New York Times has a constantly updated list of business competitions on their website.
  • BizPlanCompetitions keeps tabs on “the most promising, legitimate entrepreneurship contests and business plan competitions occurring anywhere in the United States, and soon in Canada too. [They] catalog them, map them, put them on a calendar, and blog about them.”


Whether you have a question about Awards and Contests used to Finance Your Business, or you’d like to discuss our business plan writing services, feel free to contact us for a free consultation!
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About Tyler Jensen

I work with entrepreneurs who are looking to attract investment and get out of the "Garage". I am passionate about helping entrepreneurs start companies that matter. I helped launch over 100 Companies, Non-Profits and Social Enterprises. I consider myself a serial entrepreneur, startup coach & trusted advisor. * Launching New Companies (For Profit, Non-Profit and Social Enterprise) * Expert Business Plan Writer * Extensive Network of Business Relationships focused on Launch & Rapid Growth of New Companies * Startup, Growth, Marketing, Technology, Web, Business Systems * Trusted Advisor to CEO’s & Entrepreneurs * Capital Raising Strategy Development * Startup Team Development The first company I started and sold is VAVi Sport & Social Club which grew to over 25,000 members in six years, was recognized as San Diego’s 30th fastest growing private company in 2006 by the San Diego Business Journal and 32nd fastest in 2007, and sold for over 25X the capital investment.