Every year thousands of students and budding entrepreneurs participate in technical business plan competitions in over 44 institutions in the US alone. The stakes are high over $4 million dollars of prize money and hundreds of millions of dollars of venture capital are available. The evaluation process takes an average of 4 months to complete as the technical innovation, business plan, and personal traits of the entrepreneur are put to the test. How do each of these factors contribute to a winning proposal? Which is more important? How does the entrepreneur's personality contribute to the success or failure of a proposal? My research investigates the importance of these three criteria (technical value, business management plan, and personality) in the ranking of technical business plans. Business plan evaluations were collected from five separate university competitions.
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