Sexy startups: Why are they the focus of business plan competitions?

Business plan competitions are like a friend who’s good for a laugh but not particularly reliable otherwise.  That is, they’re limited.

For example, they favor sexy web, technology, and life sciences businesses.  All the rest are usually out of luck.

However, a blog on the You’re the Boss site asserts that some contests take a different tack:

But there are competitions now that encourage and reward service, consumables and other non-tech companies — though their numbers are fewer and their winners get less attention.

These include: standalones, like the yearly Good Neighbor Pharmacy Business Plan Competition held by the National Community Pharmacists’ Association to promote independent pharmacy ownership, and separate tracks within larger competitions, like the Morehouse College Business Plan Competition, which has a best “consumable industry” prize alongside “energy,” and “science & technology.”

via Can Main Street Win Business Plan Competitions? – You’re the Boss Blog – NYTimes.com.

It also mentions Temple University and Babson College.

Well, all this is true. But the fact is, of the dozens and dozens of competitions, the number that include non-tech, boring old retail and such is minuscule.

But, how could it be otherwise? Aren’t most angel, VCs and other investors geared to the sexy tech folks? And, if that’s where the money is, wouldn’t you expect the would-be entrepreneurs to be there, too? And, since the media focuses  on such investors and companies, wouldn’t you expect  the other winners to “get less attention”, as the post says?

Bottom line, the phenomenon screams a lot about the basic bias of the investment-media complex. Of course, tech-web etc. companies, if they hit it right, can make a stupendous return for their investors. But, there’s money to be made in other types of businesses.

You’d just never know if from most business plan competitions.