In addition, contestants of the Social VentureCompetition needed to address the social impact of their ventures, while those of the Technology VentureCompetition were asked to describe their core technology.
This explosion of interest puts venture capital firms in somewhat of a bind, creating more competition for stakes in potentially disruptive companies that could grow to become huge powers on their own or high valued targets for the larger players in their spaces.
It combines the growing climate of entrepreneurship with the international showcase of innovation that accompanies the Global Venture Labs Investment Competition.
Now we are in the process of transforming what was once a simple venture plan competition into a new worldwide program that activates student innovators.
The increase in competition among investors has forced even the most prominent venture funds to allocate more of their resources to seed investing, he said.