That's the big question on my mind. I'd love to go to BP just for the experience side of it ... but I've heard how frustrating it can get if you don't have the right product. The best win-win is finding a product you love and believe in or better still, if its your own product. This serves two benefits, it's your baby. So you work double hard, just to get it recognition and maybe potential exposure to funding. Two, some competitions actually give you a prize award to help grow the product / idea into a viable venture.
Since I don't have a viable idea on my mind right now, anyone of you who does or knows someone who does, do get them in touch with me arhebbar (at) gmail.com so that I have some options when I go into make a choice of product for the Business Plan Competition (now that I have the freedom of making the choice).