*NYC* Startups fuel business-plan contests for cash, exposure
Record turnouts for New York City business-plan contests are being fueled by startups in need of funds, connections and exposure.
The 2013 Baruch College’s SmartPitch Challenge in New York City already has 300 applicants for the June 6 contest, twice the amount from 2012, Crain’s New York reports. Columbia Business School reports its contest entries have grown by 50 percent in past two years.
Experts say corporate downsizing has led to a boom in entrepreneurship among graduates and professionals forced to reinvent their careers. The state of the credit market has fueled serial competitors in need of funding, Crain’s reports.