Business plan competitions as a tool for developing entrepreneurial skills: a case study of FINRA University Tuzla

Abstract

Business plan competitions are increasingly used in higher education as a tool for fostering entrepreneurial competences and encouraging students to engage in startup activities. This paper examines how participation in a student business plan competition can contribute to the development of entrepreneurial skills, using a case study of FINRA University Tuzla. The competition was organised as an integral part of the courses Entrepreneurship and Business Finance, in which first- and second-year students worked in teams to prepare business plans and present them before a professional jury. Out of forty submitted business plans, twelve were selected for the final presentations and evaluated by university professors, representatives of the banking sector, local government, business associations and successful entrepreneurs. The analysis focuses on the design of the competition, the types of support provided to students and the perceived benefits in terms of motivation, self-confidence, creativity and practical application of theoretical knowledge. The findings suggest that embedding business plan competitions into the curriculum, in cooperation with real-sector partners, can significantly enhance students’ entrepreneurial learning experience. The paper concludes with recommendations for further improvement of such initiatives and directions for future research.