Winning a startup competitions is a great way for an entrepreneur to take an idea from concept to reality, to get attention, and to obtain initial funding, which can be one of the most difficult hurdles.
I’ve won two startup competitions and have learned some lessons along the way.
There are hundreds of startup competitions ranging from Arch Grants to MassChallenge, TechStars, Y-Combinator and Startup Chile. Here are three things you should consider when applying to a startup competition:
  1. How you get the money you win
  2. Location and the cost of living
  3. The startup network