MBAS, Get your $250K
By Michael V. Copeland

(Business 2.0) – Business-plan competitions are standard fare at top B-schools--but rarely do they award enough prize money to actually start a business. Venture capital firm Draper Fisher Jurvetson plans to change that with its DFJ Venture Challenge on June 2. The contest, open to anyone who has posted a top-three finish in a business-plan competition at a California university, will allow the teams to pitch their ideas to VCs from Draper and other firms. DFJ will dole out $250,000 in seed capital to the victors--about 10 times the sum typically awarded in school contests--and will also throw in free legal advice.