Startup competitions are events where entrepreneurs pitch their business ideas to a panel of judges, often consisting of investors and industry experts. These competitions provide a platform for startups to showcase their innovations, receive feedback, and gain exposure. Winners typically receive prizes such as cash, mentorship, or resources to help grow their business. Many startup competitions are organized by universities, incubators, or organizations like Techstars and Y Combinator. Participants often compete in multiple rounds, with finalists presenting their ideas in front of a live audience. These events foster networking opportunities and can lead to potential funding for promising startups.