Business Competitions to Participate in For Business

Updated: Apr 1, 2021

Aside from involving yourself in programs and school clubs, another great way to get more experience in the field of business is through competitions. There is a wide array of competitions that are both fun and informative for those who are looking to exemplify their skills in the various fields of business. By participating in these competitions, you will not only be able to boast notable awards on your resume, but you will also build new connections and make memorable experiences.

1. Conrad Challenge

The Conrad Challenge aims to bring science and technology together through a student-driven and project-based approach. In this competition, students are able to put their knowledge to the test by identifying and solving real-world problems. Anyone from the ages of 13-18 can participate, and it is a great way to develop the skills needed to truly excel in the present-day workforce and create change on the individual, local, national, and global scales.

If you are interested in participating, you will need to assemble a team of 2-5 students and work together to create products and/or services to address different challenges. These challenges can be derived from different fields such as science, economics, societal issues, entrepreneurship, and more. For the 2020-2021 year, over 700 teams registered and 448 teams advanced to round two: The Business Plan.

If you are interested in learning more and participating, click here.

2. Rice University Business Plan Competition

Hosted and organized by the Rice Alliance for Technology and Entrepreneurship, the competition gives collegiate entrepreneurs real-world experience to develop and pitch their startups, learn more about business strategies, and gain more insight into the knowledge and skills required to thrive in the business field. Over the last 20 years, the competition has grown from nine teams competing for $10,000 in 2001 to 42 teams competing for more than $1.5 million in prizes. For more information and the general schedule of the competition, click here.

If you are not currently eligible to participate in the competition, you can apply to become a volunteer for the conferences. With the program being held online this year, there is less demand for volunteers, but you can still reach out if you are knowledgeable in technology, virtual conferencing and crowd management, and other skills related to online events. The traditional volunteer positions include moderators, gatekeepers, hosts and guides, creative assistants, banquets, and technology support. If you are interested in joining as a volunteer, click here.

3. New Venture Championship

Hosted by the University of Oregon’s Lundquist College of Business, the New Venture Championship program is a six-round business-oriented competition that will help passionate entrepreneurs create successful businesses. The competition will take place from April 19-23, 2021, and enables teams of graduate and undergraduate students from all around the globe to compete for $50,000 in cash awards. Unfortunately, the application window for this competition closed the previous December, but there is always an opportunity to apply for the next one. If you are interested in learning more about the competition or the Lundquist College of Business, click here.

4. Youth Citizen Entrepreneurship Competition

The Youth Citizenship Entrepreneurship Competition offers young and aspiring entrepreneurs the opportunity to work and develop their business-oriented ideas. The competition features a youth category, which is for anyone within the age range of 13-29 years old, and the adult category, which is for anyone above the age of 30. The participants will be evaluated based on their entrepreneurial vision, innovation, leadership skills, social impact, sustainability, feasibility, and more. To learn more about the competition and the prizes offered, click here.

5. National Economics Challenge

The National Economics Challenge (NEC) is a unique competition for high school students that tests micro and macroeconomics principles as well as knowledge of the global economy. The competitions begin at a state level, and the winners will move on to the National Semi-Finals in which the top-scoring teams will move on to compete for the National Title. To participate, teachers will need to register teams of 3-4 high school students, and prizes include $250 for third place, $500 for second place, and $1,000 for first place. For more information on the schedule and eligibility guidelines for the competition, click here.

Despite the current limitations to gain in-person experience in the field of business, there are still many competitions to consider competing in if you are interested in learning more about business and coming up with creative solutions for real-world problems. Not only will you be able to earn prizes and awards, but you will also have the opportunity to learn what it takes to create and maintain a successful business, so get out there and start competing!