1987 to 2010 Summary of Questionnaire Responses
Purdue University’s Burton D. Morgan Business Plan Competition is funded through an endowment established at Purdue by the Burton Morgan Foundation. The competition began in 1987 in Purdue’s Krannert School of Management as an educational opportunity for undergraduate and graduate students as well as faculty and staff. The objectives of the Burton D. Morgan Business Plan Competition are to educate Purdue students and faculty about the requirements of writing and presenting a compelling business plan (and, thus, to learn about the rigors and requirements for starting a business), to provide these potential entrepreneurs with an opportunity to interact with the investment community, and to provide funding and in-kind support to get new companies launched. A questionnaire was developed to reach past finalists to answer some basic questions about whether the competition is achieving its objectives.
The questionnaire was developed and distributed in the spring 2010 and fall 2010 semesters. The following report describes the number of questionnaire contacts and responses, provides a profile of the questionnaire respondents, and reflects their responses about the role of the competition in both their education and their professional career and the fate of the business idea presented at the competition.
A few interesting highlights from the questionnaire responses include:
- 86% of the respondents indicated that their participation as a finalist in the Burton D. Morgan Competition enhanced their education.
- 59% of the respondents indicated that their participation as a finalist in the Burton D. Morgan Competition influenced their career goals.
- 67% of the respondents indicated that they currently view themselves as an entrepreneur.
- 35% of the respondents indicated that a company was started as a result of participation as a finalist in the Burton D. Morgan Business Plan Competition.
- 41% of the respondents who indicated that they did NOT start a company following their participation in the Burton D. Morgan Business Plan Competition indicated that they had started a company later in their career (and 55% of these respondents had started 2-3 companies).
- 67% of the companies launched following the Burton D. Morgan Business Plan Competition remained in existence at the time of the questionnaire.