Submitting your Business Plan to Venture Capitalists

I'll cut to the chase, with the Question:

Is it even worthwhile to submit your business plan to Venture Capitalists 
firms if you didn't graduate from an Ivy-league, nor has anyone else on
your 
team?

I say this, because I know - as you may too...VC's get hoards of business 
plans - and the competition is feirce for VC cash. Many are from 
Ivy-leagues, or has someone on their team from an ivy-league.

So I'd assume if a business plan on their table turns up, with "mediocre" 
founders...that they'd almost automatically dismis it.

Correct...No, maybe so...