When you are an investor, you want to know what the chances are that a startup will survive and grow. Unfortunately this is a hard question since solid historical data is hard to find. In this post we show you one good source. The NewVenture business plan competition. Their slogan is: “from idea to a LLC company”.
NewVenture is known as one of the older, more established business plan competitions in The Netherlands. They started in 1998 (season 1998 that is, starting in fall 1997 and ending in june 1998) so they have been declaring winners for more than 10 years. It started as an initiative by McKinsey & Company, a management advisory firm but is now run by a daily team from De Baak. Superficially it is a competition, but this is just a format that suits the needs of the initiative. The goal is not to identify the best plan but to stimulate people to start thinking about their own business. The contest has changed slightly throughout the years, but there is a constant formula since at least 2002, the year I participated: three competition rounds, each ending into a live event where prizes are given and people can network.
The best thing about NewVenture’s persistence is that you can browse past winners to see how far they have come and where they are now. The link is here:
Please have a look, and let me know what you think. I checked the year 2002 (that year that I did not win) to see how the winners are doing. Two of them are still around. One of them seems to be doing well, judged by the large number of projects on their website. The other one still have their medicine in development. Perhaps 10 years is not a long period after all.
BTW: the next NewVenture round 3 event is june 28 2012. Go to the website and sign up to see the next generation of data points.