This study explores students’ perspectives of live business projects, a form of experiential and work integrated learning, as an assessment component in an International Marketing course. Twenty-two focus groups were held with students participating in an international business plan competition organised at an Australian university. Using thematic analysis, we focus on three dominant themes typical of the focus group data: how live business projects prepared students for the future, how such projects motivated students to engage with and take pride in their work, and how the students linked the projects to the wider world outside of the university context. Live business projects might improve employability of graduates and engagement with course content, but students also indicated that the increased workload may be a source of stress. Educators should feel confident in the benefits of live business projects, but may also need consider how to ensure appropriate levels of work and responsibility on students and maintain the art of relationship management with industry partners.