Ask any startup founder what one of the biggest challenges of getting a business off the ground is, and many of them will say funding. If you are new to the startup ecosystem, it can be hard to get investors to listen to you, even if you have a groundbreaking idea. That is why many startups choose to compete in competitions because it puts them in front of multiple investors at one time.
Participating in a cross-cultural, global competition has benefits beyond just the big investment prize you get if you win. The chance of winning the grand prize may be slim, but startups can gain invaluable contacts through their networking. Having the opportunity to meet with companies, investors, speakers, and startups from around the world can have more of an impact on your business than you might have realized.
It’s not only investors or media that you might connect with there. A global competition puts startups from around the world together. All the competitors will be diverse not only in their ideas, but also in their background. Learning how to communicate with one another is a skill that translates over to business. You might learn more from the other competitors than you might expect by observing different marketing, business, and pitching techniques.
Startup pitch competitions will also include other events that allow for global networking through workshops for both attendees and competitors alike. Startups who are looking to add to their team can meet with some of the most talented people in a variety of industries.
One example of a rewarding startup competition is the Startup World Cup, which starts as a regional series of conferences and competitions that aims to bring the brightest and most innovative minds together. Startups from more than 40 countries are gearing up to compete for a USD 1 million prize at the Startup World Cup 2019 Grand Finale, which will take place on May 17 in San Francisco, CA. This event will be presented by Fenox Venture Capital and will include startups, speakers, VCs, entrepreneurs, and CEOs.
This particular competition will feature judges and speakers from top venture capital firms, along with top brands, including Tim Westergren, Founder and Former CEO of Pandora, Terry Jones, Founding Chairman of Kayak.com, and Jay Fulcher, Chairman and CEO of Zenefits, Josh Constine, Editor-At-Large of TechCrunch, Curtis Carlson, Former President and CEO of SRI International and Shekar Ayyar, Executive Vice President of VMware, with more to be announced.
Winning a startup competition like Startup World Cup isn’t the only key to success, but it does give you the opportunity for you to invest in your startup. You can get the necessary exposure in the media, especially if you reach the final round. Many reputable blogs and websites will write up a story about each of the finalist, which gives you free publicity. Competitions help get your startup in front of other innovators, leaders in the community, media, and potential investors. Not only can you network at these competitions, but you can also refine your pitch and build partnerships that will benefit your startup.
Pre-registration for the Startup World Cup is now open, and tickets for Startup World Cup Finale are available through the event’s website: https://www.startupworldcup.io/.