Startup competitions are dumb. As a startup, you’re already in a competition called “The Market”. The only panel of judges that truly matter for your startup are called “Customers”. Don’t waste time on heuristic status games.
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Banks likely won't fund a startup based on anything other than profit and cash in the bank, if you are pre-revenue they are ways to get cash and practice pitching and make connections. Often times VC may be on the judge panel or someone who can build your network is.
Word, I met my mentor through a startup competition which I lost. That's a great counterpoint.
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I have met so many people that opened doors for me and have seen so many people learn to be founders by going to competitions. This is a case of a founder saying controversial things on twitter to get attention and showing no awareness.
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Agree with your first point. Disagree with your second. You can't explain all nuance in a single tweet. Sometimes to broadcast a message effectively you need to go with the directionally correct main message and that is that startup competitions are not what htey're made to be.
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