What is the primary focus of the Business Plan competition?

The primary focus of the Business Plan competition is to develop a business concept. This competition challenges participants to create a comprehensive plan that outlines an innovative business idea, including its feasibility, market analysis, competitive advantage, and potential for success. A well-developed business concept is essential as it serves as the foundation for the entire plan. While elements like marketing strategies, financial reports, and presentation skills are also important parts of a complete business plan, they are secondary to the initial development of the core business idea itself. This focus ensures that participants can clearly articulate their vision for the business and understand the various components that contribute to its success.