The Electronic Design Automation (EDA) community is faced with an exponential increase in the complexity of the problems that it has to solve. These problems challenge the EDA community to find innovative techniques for training the next generation of researchers. This work discuss how international contests in EDA can play a pivotal role in the education and industry practices. We discuss the impact of our these contests on bridging the gap between industry and academia, training of the graduate students and building collaborations between different researchers. We compare the impact of papers originated from the effort of team winners in such contests compared to the best papers in annual International Symposium on Physical Design (ISPD) conference and Design Automation Conference (DAC). Finally, we also discuss the impact of the contests on the industry organizers and how they benefit from them.