Virtual startups competition announced

Reputable consulting company McKinsey & Company organized a start-up competition Virtual Venture Competition . The uniqueness of this contest lies in the fact that startups test their original business models ... in the Second Life virtual space. The best will be able to get free business training and real funding already in the real world.

Startup registration began on May 22, 2007. Each contestant receives a piece of land and LTL 500 for business. It is forbidden to invest in the project own money.

Especially for the competition in the virtual world created two new islands - they will be inhabited by young businessmen. After registering for the game, the participant must draw up a business plan and send it for approval to McKinsey. As soon as the plan is approved, the participant has 45 days to start a three-day experiment in the virtual world and draw up a final report on its results.

The winners of the competition will receive prizes in the form of business trainings from McKinsey worth more than $ 20,000. Naturally, they will immediately attract the attention of venture investors. Students and young entrepreneurs up to 32 years old from any country are invited to participate. Participants are allowed to join teams of up to five people or join someone else's team.
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During the three-day competition, an entrepreneur can track his financial success on the McKinsey website - there are special tools for creating statistical reports and visual charts.