Build-A-Business Competition Starts October 1, 2013 with $50,000 Cash Prizes

The Build-A-Business Competition was started four years ago by 4 Hour Workweek's Timothy Ferriss and Shopify's Tobias Lutke, for would-be entrepreneurs interested in starting their own business.

If you are thinking of starting a business selling products, tangible or intangible, this Competition is for you. First prize if $50,000. In addition to the prize, many of the entrepreneurial winners ended up generating sales in the millions.

Here is a list of the mentors:

Arianna Huffington (The Huffington Post)

Mark Cuban (Dallas Mavericks, Shark Tank)

Daymond John (FUBU, Shark Tank)

Chase Jarvis (Photographer, Director)

Tina Eisenberg (Swissmiss, CreativeMornings)

Gary Vaynerchuk (Wine Library, Vaynermedia)

Selita Ebanks (Victoria’s Secret Angel, Cause Marketer)

Lil’ Jon (DJ & Producer)

Amber Mac (TV Host, Author)

Tim Ferriss (Angel Investor, Bearclaw Eater, Author: The 4-Hour Workweek)

For more info, go here.

Another Contest for Small Businesses

This prize for this contest isn't as big as the $250,000 contest, but it might be worth looking into. It is the Land's End Small Business VIP contest.

The grand prize includes all of the following:

4 round trip tickets and hotel accommodations in Madison, WI.

A visit to Lands’ End headquarters

A Badger Football game.

4 tickets to the Inc. 500|5000 Conference in Washington, DC.

1 year subscription to Inc. Magazine

You can check it out here.

How to Get $250,000 for Your New Business that You Don't Have to Pay Back

Miller Lite is sponsoring the Miller Lite Tap the Future contest for entrepreneurs, that will award a $250,000 grant to the winning small business. You will need to submit your business idea and be prepared to present your business to Daymond John from ABC’s Shark Tank and other experts.

There are also several second and third prizes. Here are the eligibility restrictions:

All members of the Team are 21 years or older as of the application date.

All members of the Team are legal U.S. residents of the United States.

The business/business plan cannot be a franchise.

The business/business plan cannot be a 501-c3 non-profit organization.

The business must be a U.S. entity located within the United States or Washington D.C.

A business/Team is not eligible if the business/Team or any owner/member of the business/Team was awarded a business grant from certain other contests.

Deadline is August 1st to get your application in, so get it in now, and may the best business win.