Business plan competitions in tertiary institutions: encouraging entrepreneurship education

Abstract

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.