Babson College was the first academic institution to hold a business plan competition for students. Each year, Babson alumni from around the world volunteer their time to evaluate student business plans. Based on their feedback, three finalists are chosen to compete in both the Douglass Foundation Graduate Business Plan Competition and the John H. Muller Undergraduate Business Plan Competition.

Babson faculty members William Bygrave, Frederic C. Hamilton Professor for Free Enterprise, and Julian Lange, Associate Professor of Entrepreneurship, have conducted research to determine the proportion of Babson alumni who have started companies on their own or with others; and whether writing a business plan while at Babson correlated with the likelihood of starting a company.

The preliminary results were as follows:

• 35% of respondents, who graduated between 1985 and 2003, have started businesses.
• 40% of those who wrote a business plan as a Babson student have started businesses.
• 25% of those who did not write a business plan as a Babson student have started businesses.
• 62% of those who were finalists for a Babson business plan competition have started businesses.
• 38% of those who were not finalists for a Babson business plan competition have started a business.
• 42.5% of the male respondents have started businesses.
• 21.5% of the female respondents have started businesses.

For additional information please contact Andrea Ross at rossa@babson.edu.