Babson College was the first academic institution to hold a business plan competition for students.
Each year, Babson alumni from around the world volunteered their time to evaluate student business plans. Based on their feedback, three finalists were chosen to compete in both the Douglass Foundation Graduate Business Plan Competition and the John H. Muller Undergraduate Business Plan Competitions.
The business plan competitions continued through April 2011.
In 2013, the Blank Center introduced the alumni track of the B.E.T.A. Challenge, with support from the Babson Alumni and Friends Network and the Babson Alumni Association.