Registration for the Carrot Capital Business Plan Challenge has been extended until Feb. 12. The competition challenges teams of students from colleges and universities across the country to create business plans and submit them for cash prizes.

After teams register, they must present their business plans by Feb. 26. The first-place team receives an offer from Carrot Capital to fund the winning plan in addition to $50,000. Three second-place winners receive $10,000 and 24 finalists get $1,000 each.

Teams are eligible if at least one member is enrolled at a United States college or university. Teams may have an unlimited number of members and registration is free.

Carrot Capital Education Foundation, a non-profit corporation, sponsors the Challenge. Visit http://uptothechallenge.com for more information.