University Innovation Fellows - User contributions [en]

Organization:Business Model Competition

2018-02-25T18:25:26Z

Codybrock:

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= Overview =

[[File:Business-model-competition.jpg]]

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business 

Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
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The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
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By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
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The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
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== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
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= Success Stories =

[[File:Kaitek.PNG|none|Kaitek.PNG]]
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

'''1st Place, 2015'''
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[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
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= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

'''Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following:'''
<ol style="margin-top: 0pt; margin-bottom: 0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
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= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
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= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= Student Contributors  =

[http://universityinnovation.org/wiki/Haley_Brengartner http://universityinnovation.org/wiki/Haley_Brengartner]

[http://universityinnovation.org/wiki/User:Codybrock http://universityinnovation.org/wiki/Cody_brock]

= References =

<references />

[[Category:Resources]]

School:Kettering University

2018-02-25T18:25:00Z

Codybrock:

[[File:Smallbulldog.jpg|frame]]

= Introduction =

Kettering University (formerly General Motors Institute and GMI Engineering and Management Institute) is a university in Flint, Michigan, focusing on STEM (Science, Technology, Engineering, and Mathematics) and Business fields. It offers bachelor's and master's degrees in engineering, math, science, and business. Kettering places a strong emphasis on experiential learning and cooperative education, with undergraduate students required to complete a minimum of seven co-op terms to graduate.[4] The campus is located along the Flint River on property that used to be the main manufacturing location for General Motors. It is named after inventor and former head of research for General Motors Charles Kettering.[5] The school's undergraduate population is approximately 2,000 students.

 

= Innovation and Entrepreneurship in the Classroom =

The faculty at Kettering University tends to integrate I&E into the courses through open-ended projects and assignments. The Faculty does not fail to emphasize the importance of I&E in any discipline or major, and they provide students with opportunities to display their I&E skills in the classroom, and to inspire or get inspired.

Programs dedicated to I&E have been proposed in the past, but currently the only dedicated curriculum related to I&E is a minor in entrepreneurship offered by the school's business department. Many forces throughout the school wish to push a more non-traditional approach to I&E, but none have taken hold so far.

= Innovation and Entrepreneurship Related Events =

[[File:ME Bulldog.jpeg|thumb|ME Bulldog.jpeg]]

Kettering University strives to engage its students with I&E both in and outside the classroom. It currently hosts two campus events that make students delve into I&E.

== Innovation Quest ==

The event is organized weekly and the idea is to compete in an hour long challenge to create a simple machine or device that accomplishes the designated task. The event has gained much popularity around campus and the participation is high. While the event is more geared towards Innovation than Entrepreneurship, the idea is to appeal to the creativity in students.

== Kettering Impact ==

The event is organized once a term and it currently offers a $1000 first price to the student or group of students that can come up with an idea to improve Kettering University and eventually use this to start a venture of their own. The students are made to create a 4 minute long video that entails their idea and the basic need for it along with other important details. The event is usually judged by members of the college administration along with other budding student Entrepreneurs.

 

= Kettering Entrepreneur Society =

[[File:SmallKES.jpg|thumb|SmallKES.jpg]]

The three pillars of Kettering Entrepreneurship Society (KES) are Mentoring, Networking and Funding. Students often have great ideas but lack the means to set them in motion. KES seeks to fill in this gap by providing valuable feedback, essential start-up funding, an interactive network, and most important of all, the motivation. KES holds weekly meetings open to the entire student body and faculty. Once a student receives a grant, he/she periodically updates the society on the progress of their projects. Students that are not physically present can also attend meetings virtually using Google Hangouts.

= T-Space =

[[File:KU T-Space.png|thumb|KU T-Space.png]]

The T-Space is Kettering's makerspace, operating with the goal of being a space where students can think, tinker, and thrive. This allows students to grow with their personal and school projects. It currently provides students access to 3D printing, laser cutting, soldering, and other utilities to work on small electric and mechanical projects.
<div> </div>

= Co-op Program =

Arguably, the most attractive aspect of studying at Kettering University is the co-op program. Each term at Kettering University is 11 weeks long, and there are four terms per year. Students alternate between co-op (usually at a company) and school every term, working and studying for a total of 6 months each. Most students graduate with two years of valuable industrial work experience and have a better understanding of the workplace. Also included in Kettering's graduation requirements is a Thesis project, which, while generally being done at a student's co-op, can also be finished through school research or by creating an entrepreneurial venture.

All this practical experience combined offers a much more hands-on approach to I&E. Students learn the basics of managing a project and delivering results along with developing a healthy work ethic.

= Innovation and Entrepreneurship in the Faculty =

A drive for innovation and entrepreneurship is not only spreading in the student body but it has spread through the administration and faculty with the i2e-au movement. Students actively witness some professors, who are making strides to modify their curriculum to incorporate an I&E mindset, encouraging entrepreneurship within the classroom. Additionally, the university now grants funds to professors who are excelling in this regard in order to further the movement.

= Landscape Canvas =

Kettering University's Landscape Canvas can be found [https://docs.google.com/spreadsheets/d/1prwsD67s7fX_PbbCoZCa9apDHP1kAGSNIrtDjzaQxQM/edit#gid=0 here].

= Entrepreneurial Rating =

I would rate Kettering University 6 out of 10 on entrepreneurial activities only because of the huge room it has for growth. Given the vastly technical student population, I&E can play a much broader role in student life at Kettering. The good news is that the college realizes this and is now consciously delegating resources in this arena.

= 2016 Campus Overview =
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1.  Promoting student innovation and entrepreneurship
<ul style="margin: 0pt 0px 0pt 1.6em; padding: 0px; line-height: 1.4;">
<li><ul style="margin: 0pt 0px 0pt 1.6em; padding: 0px; line-height: 1.4;">
<li>Discover:<ul style="margin: 0pt 0px 0pt 1.6em; padding: 0px; line-height: 1.4;">
<li>The skills of innovation already exist on our campus because a lot of students work in the real industry, and are exposed to the latest technology for 2 out of 4 years of their undergrad.</li>
</ul></li>
<li>Learn:<ul style="margin: 0pt 0px 0pt 1.6em; padding: 0px; line-height: 1.4;">
<li>Students can take classes like Software Engineering, Digital Systems, Inen 101,102,201 as well as do an entrepreneurial thesis project.</li>
</ul></li>
<li>Experiment:<ul style="margin: 0pt 0px 0pt 1.6em; padding: 0px; line-height: 1.4;">
<li>Innovation Quest is where the engineering skills learned in the classroom are applied in a real life design and engineering problem.</li>
</ul></li>
</ul></li>
</ul>
<ul style="margin: 0pt 0px 0pt 1.6em; padding: 0px; line-height: 1.4;">
<li>Encouraging faculty innovation and entrepreneurship<ul style="margin: 0pt 0px 0pt 1.6em; padding: 0px; line-height: 1.4;">
<li>We feel that the best way to get the entire faculty of Kettering to be interested in the I2E will be via the students. Once the students are passionate about innovation and feel the need to fulfill the need in a real world problem - the faculty will have to adapt as they will see the greater value in this cause.</li>
</ul></li>
<li>Actively supporting the university technology transfer function<ul style="margin: 0pt 0px 0pt 1.6em; padding: 0px; line-height: 1.4;">
<li>University already has the technology function which is sufficient to start this off, however, in the future, as the program grows, new technological advances can easily be made.</li>
</ul></li>
<li>Facilitating University-Industry Collaboration<ul style="margin: 0pt 0px 0pt 1.6em; padding: 0px; line-height: 1.4;">
<li>Kettering is one of the best schools in the country that is equipped with University-Industry collaboration because every single student that goes is required to work in the industry 6 months out of the year.</li>
</ul></li>
<li>Engaging with regional and local economic development efforts<ul style="margin: 0pt 0px 0pt 1.6em; padding: 0px; line-height: 1.4;">
<li>Regional and local economic development efforts are made through our school's external affairs office. They provide us with those resources on how to be better engaged in local and regional business.</li>
</ul></li>
</ul>

2. Encouraging faculty innovation and entrepreneurship

<ul style="margin: 0pt 0px 0pt 1.6em; padding: 0px; line-height: 1.4;">
<li>The faculty at Kettering University are very diverse and consist of very distinct backgrounds. With the research we have conducted thus far and the people we have interviewed, it seems that some faculty members are extremely passionate about the innovation and entrepreneurship on campus, while some are very hesitant and do not fully see the point of this program. Kettering is one of the most technical schools in the country, and I think this is where I2E program needs to succeed because students here do have the technical skills to implement big ideas and things. We are planning to encourage the faculty by first encouraging the students as the younger generation is more enthusiastic about the internet and the innovation revolving around technology. The premise is once we have the students supporting the idea of I2E, it will automatically spread throughout the campus, and faculty members will see its value.</li>
</ul>

3. Actively supporting the university technology transfer function

<ul style="margin: 0pt 0px 0pt 1.6em; padding: 0px; line-height: 1.4;">
<li>The Kettering Entrepreneur Society is one way the university supports the technology transfer of function. To be eligible for a seed grant, members must partake in a three part presentation throughout the term. First off, is a generic idea presentation. This allows the creator(s) to air-out their idea to the society and receive initial advice and criticism regarding said idea. The second step is a line item presentation that gives more background information, and allows the creator(s) to give the society an idea of what line items (e.g. equipment, LLC formation, materials, etc.) to further this innovation. The third step in the process is for the line item financial costs to be presented to the society. The society of members will then vote on the financials during a discussion to see which will be passed or rejected.</li>
<li>The Kettering Entrepreneur Society offers different tiers of seed grant funding for ideas and start-up companies. Depending on the type of idea, how much “sweat-equity” has been spent on the idea to date, and it’s cost, the Kettering Entrepreneur Society has a flow chart titled “Grant Evaluation” that breaks down what tiers of funding are. The “Proof of Concept Grant” offers students funding for tinkering with ideas and innovation up to $1000. This can include materials for prototyping, professional advice, or capital for initial market research. The “Establishment Phase” is the next tier of funding, which is up to $2500. The creator(s) must demonstrate feasibility with the idea in order to qualify. This phase allows members to form their companies legally, and begin building a minimal viable product. The “Exposure Phase” gives students up to $3500 in funding, but requires feasibility, and a long term vision for the creator(s) business plan. This phase allows students to build on their minimal viable product and hit the ground running with insurance, or other legal barriers that may interrupt their pathway to success. There is also an “In-Between Phases” grant that gives members up to $3000 for those stuck in Establishment and Exposure purgatory. All grants are evaluated by members who share an equal voice. All students on campus are encouraged to partake. If a creator is able to effectively demonstrate a need for a line item and a seed grant is approved by the society, the creator is awarded the seed grant in full for the desired amount.</li>
<li>The Kettering Tinker Space or T-Space is a maker-space funded for students to develop and tinker with ideas. The T-Space is located in the Mott Science Center on campus, and offers many tinker space amenities.  As far as equipment goes, there are various 3D Printers and  CNC Machines for prototyping and creation. Plastic filament and acrylic is provided for projects within reason. Students are allowed to bring in outside materials if their project warrants larger than normal quantities. There are also laptops and arduinos/raspberry pi’s available for students interested in learning to program. In addition to programming materials, soldering stations with power tools are also available for those interested in electronics. Resistors and capacitors can be provided once again within reason. There are incubators located inside the T-Space, and members who pitch ideas to KES are eligible for incubator usage. A new addition to the T-Space is the Green room, which has greenscreen wall for cinematography. A movie camera and laptop are located in the room as well as a tripod for unique camera angles. The layout of the T-Space is progressive, and includes foam cubes, whiteboard desks and walls, roller “zero gravity” chairs, and an honor system drink and snack bar. All students on campus are welcomed to use and enjoy the T-Space. For basic members, supervision is required for using any of the equipment. However, after taking a simple safety training course, students are able to use any equipment without supervision. Students can also become T-Space Journeymen, which allows them to train other students and perform equipment maintenance/upkeep. This also gives them 24/7 access to the building as well.</li>
</ul>

4. Faciliating University-Industry Collaboration

<ul style="margin: 0pt 0px 0pt 1.6em; padding: 0px; line-height: 1.4;">
<li>Kettering University is a unique STEM+B institution, because of the required cooperative education program. Student semesters are broken into four 3-month terms. Each student is required to take two school terms, and two work terms to complete one year at Kettering University. Because of the scheduled co-op plan, students graduate Kettering with two and a half years of professional workplace experience. Kettering’s full-time job placement upon graduation from students fluctuates between 99-100% each year.</li>
<li>Students co-op cycles can vary, however most students tend to stick with the same company throughout their time at Kettering. Students are treated like full-time employees at work, and are tasked with work accordingly. Due to the cyclical schedule, co-op students are able to bring back information they learned in the classroom and apply it in the workplace.</li>
<li>Kettering University has a Cooperative Education office that provides students with an individual manager to help them through the co-op process. Co-op managers assist students with resume development, schedule job fairs, and function as the schools liaison throughout the co-op process. They also conduct reviews on companies to determine if students are being deployed adequately and in an engaging way.</li>
</ul>

5. Engaging with regional and local economic development efforts

<ul style="margin: 0pt 0px 0pt 1.6em; padding: 0px; line-height: 1.4;">
<li>The Kettering Entrepreneur Society encourages students to be involved with regional and local economic development efforts. If a student is interested in participating in any sort of event, KES will sponsor and reimburse students for transportation and registration fees. One event in the surrounding area is Flint SOUP. Flint SOUP is a monthly dinner (soup, salad, bread) that raises seed money for creative projects in the Flint community. They also offer Free Code Camps, free business seminars, and share funding.</li>
<li>KES also has relations with the University of Michigan Ann Arbor and Lawrence Tech University in sponsoring students for the Makeathon competition. Students compete in a 36 hour competition that requires impromptu engineering design and a solution to a problem they must solve.</li>
</ul>

Written by:[http://universityinnovation.org/wiki/Jace_C._Stokes Jace_C._Stokes]and [http://universityinnovation.org/wiki/Moe_Ghias Moe Ghias]
</div><div id="mw-articlefeedback" class="articleFeedback" style="margin: 1em 0px 0px; padding: 0px; line-height: 20.16px; position: relative; display: inline-block; width: 864px; color: rgb(102, 102, 102); font-family: 'Open Sans', sans-serif; font-size: 14.4px;"><div class="articleFeedback-panel" style="margin: 0px; padding: 0px 0px 1px; line-height: 1.4; float: left; width: 864px; border: 1px solid rgb(204, 204, 204); background-color: rgb(249, 249, 249);"><div class="articleFeedback-buffer articleFeedback-ui" style="margin: 0px; padding: 0.75em 1em; line-height: 1.4;"></div></div></div>

= Related Links =

Kettering University

[[Kettering University Student Priorities]]

University Innovation Fellows

{| border="1" cellspacing="1" cellpadding="1" style="width: 500px;"
|-
| '''UIF Launch Term'''
| '''Student Name and Bio'''
| '''Kettering Academic Section'''
|-
| Spring 2018
| [http://universityinnovation.org/wiki/Julia_Rickabaugh Julia Rickabaugh]
| A-Section
|-
| Spring 2018
| [http://universityinnovation.org/wiki/Rebecca_Abbott-McCune Rebecca Abbott-McCune]
| A-Section
|-
| Spring 2018
| [http://universityinnovation.org/wiki/Cody_brock Cody Brock]
| B-Section
|-
| Spring 2017
| [http://universityinnovation.org/Chelsea%20Carter Chelsea Carter]
| A-Section
|-
| Spring 2017
| [http://universityinnovation.org/Eric%20Rickabaugh Eric Rickabaugh]
| A-Section
|-
| Spring 2017
| [http://universityinnovation.org/Ashley%20Switalski Ashley Switalski]
| B-Section
|-
| Spring 2017
| [http://universityinnovation.org/Shane%20Thiede Shane Thiede]
| B-Section
|-
| Spring 2016
| [http://universityinnovation.org/Moe%20Ghias Moe Ghias]
| A-Section
|-
| Spring 2016
| [http://universityinnovation.org/Jace%20C.%20Stokes Jace C. Stokes]
| A-Section
|-
| Spring 2015
| [http://universityinnovation.org/Cheyne%20Westerman Cheyne Westerman]
| A-Section
|-
| Spring 2015
| [http://universityinnovation.org/Alan%20Xia Alan Xia]
| A-Section
|-
| Spring 2014
| [http://universityinnovation.org/Hunter%20Casbeer Hunter Casbeer]
| A-Section
|-
| Spring 2014
| [http://universityinnovation.org/Saheb%20Kapoor Saheb Kapoor]
| A-Section
|}

[[Category:Student Priorities|Student_Priorities]]

Fellow:Cody Brock

2018-02-25T18:24:01Z

Codybrock:

Cody Brock is a sophomore pursuing an undergraduate degree in both Engineering Physics and Chemical Engineering at

Kettering University. He is also involved in many different activities on campus; such as being on the T-Space leadership

team, being a resident assistant, and being president of the chess and juggling clubs. Cody grew up in the suburbs of

Chicago, and moved to Michigan to pursue a career in engineering. At school, he is focused on engaging many different

groups of people and creating systems that will help new students connect to everything that Kettering has to offer. Cody

believes that through the UIF program he will meet like-minded peers, and that connecting with a professional network of

students will help accelerate progress in new programs at Kettering.

http://universityinnovation.org/wiki/Business_Model_Competition#Student_Contributors.C2.A0

http://universityinnovation.org/wiki/Kettering_University

Fellow:Cody Brock

2018-02-25T18:23:04Z

Codybrock: Created page with "[http://universityinnovation.org/images/thumb/b/b4/IMG_9313.JPG/450px-IMG_9313.JPG http://universityinnovation.org/images/thumb/b/b4/IMG_9313.JPG/450px-IMG_9313.JPG] Cody Broc..."

[http://universityinnovation.org/images/thumb/b/b4/IMG_9313.JPG/450px-IMG_9313.JPG http://universityinnovation.org/images/thumb/b/b4/IMG_9313.JPG/450px-IMG_9313.JPG] Cody Brock is a sophomore pursuing an undergraduate degree in both Engineering Physics and Chemical Engineering at

Kettering University. He is also involved in many different activities on campus; such as being on the T-Space leadership

team, being a resident assistant, and being president of the chess and juggling clubs. Cody grew up in the suburbs of

Chicago, and moved to Michigan to pursue a career in engineering. At school, he is focused on engaging many different

groups of people and creating systems that will help new students connect to everything that Kettering has to offer. Cody

believes that through the UIF program he will meet like-minded peers, and that connecting with a professional network of

students will help accelerate progress in new programs at Kettering.

File:IMG 9313.jpg

2018-02-25T18:21:00Z

Codybrock:

File:IMG 9313.JPG

2018-02-25T18:16:07Z

Codybrock: Codybrock uploaded a new version of "File:IMG 9313.JPG"

Organization:Business Model Competition

2018-02-25T18:11:22Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= Overview =

[[File:Business-model-competition.jpg]]

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business 

Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>
= Success Stories =

[[File:Kaitek.PNG|none|Kaitek.PNG]]
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

'''1st Place, 2015'''
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>
= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

'''Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following:'''
<ol style="margin-top: 0pt; margin-bottom: 0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>
= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>
= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= Student Contributors  =

[http://universityinnovation.org/wiki/Haley_Brengartner http://universityinnovation.org/wiki/Haley_Brengartner]

http://universityinnovation.org/wiki/User:Codybrock

= References =

<references />

[[Category:Resources]]

User:Codybrock

2018-02-25T18:11:04Z

Codybrock:

= Cody Brock =

Cody Brock is a sophomore pursuing an undergraduate degree in both Engineering Physics and Chemical Engineering at Kettering University. He is also involved in many different activities on campus; such as being on the T-Space leadership team, being a resident assistant, and being president of the chess and juggling clubs. Cody grew up in the suburbs of Chicago, and moved to Michigan to pursue a career in engineering. At school, he is focused on engaging many different groups of people and creating systems that will help new students connect to everything that Kettering has to offer. Cody believesthat through the UIF program he will meet like-minded peers, and that connecting with a professional network of students will help accelerate progress in new programs at Kettering.

http://universityinnovation.org/wiki/Business_Model_Competition

User:Codybrock

2018-02-25T18:10:17Z

Codybrock:

User:Codybrock

2018-02-25T18:03:37Z

Codybrock:

Cody Brock is a sophomore pursuing an undergraduate degree in both Engineering Physics and Chemical Engineering at Kettering University. He is also involved in many different activities on campus; such as being on the T-Space leadership team, being a resident assistant, and being president of the chess and juggling clubs. Cody grew up in the suburbs of Chicago, and moved to Michigan to pursue a career in engineering. At school, he is focused on engaging many different groups of people and creating systems that will help new students connect to everything that Kettering has to offer. Cody believesthat through the UIF program he will meet like-minded peers, and that connecting with a professional network of students will help accelerate progress in new programs at Kettering.

File:IMG 9313.JPG

2018-02-25T18:00:54Z

Codybrock:

Organization:Business Model Competition

2018-01-10T20:55:23Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= Overview =

[[File:Business-model-competition.jpg]]

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business 

Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>
= Success Stories =

[[File:Kaitek.PNG|none|Kaitek.PNG]]
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

'''1st Place, 2015'''
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>
= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

'''Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following:'''
<ol style="margin-top: 0pt; margin-bottom: 0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>
= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>
= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= Student Contributors  =

[http://universityinnovation.org/wiki/Haley_Brengartner http://universityinnovation.org/wiki/Haley_Brengartner]

= References =

<references />

[[Category:Resources]]

Organization:Business Model Competition

2018-01-10T20:31:45Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= Overview =

[[File:Business-model-competition.jpg]]

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business 

Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>
= Success Stories =

[[File:Kaitek.PNG|none|Kaitek.PNG]]
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

'''1st Place, 2015'''
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>
= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

'''Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following:'''
<ol style="margin-top: 0pt; margin-bottom: 0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>
= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>
= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= Student Contributors:  =

[http://universityinnovation.org/wiki/Haley_Brengartner http://universityinnovation.org/wiki/Haley_Brengartner]

= References =

<references />

[[Category:Resources]]

Organization:Business Model Competition

2018-01-10T20:28:33Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= Overview =

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business 

Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>
= Success Stories =

[[File:Kaitek.PNG|none|Kaitek.PNG]]
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

'''1st Place, 2015'''
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>
= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

'''Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following:'''
<ol style="margin-top: 0pt; margin-bottom: 0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>
= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>
= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= Student Contributors:  =

[http://universityinnovation.org/wiki/Haley_Brengartner http://universityinnovation.org/wiki/Haley_Brengartner]

= References =

<references />

[[Category:Resources]]

Organization:Business Model Competition

2018-01-10T20:23:38Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
Overview[[File:Business-model-competition.jpg|thumb|Business-model-competition.jpg]]

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business 

Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>
= Success Stories =

[[File:Kaitek.PNG|none|Kaitek.PNG]]
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

'''1st Place, 2015'''
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>

= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

'''Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following:'''
<ol style="margin-top: 0pt; margin-bottom: 0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>

= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>
= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= References =

<references />

[[Category:Resources]]

Organization:Business Model Competition

2018-01-10T20:19:58Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= Overview[[File:Business-model-competition.jpg|thumb|Business-model-competition.jpg]] =

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business 

Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>
= Success Stories =

[[File:Kaitek.PNG|none|Kaitek.PNG]]
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

'''1st Place, 2015'''
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>

= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

'''Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following:'''
<ol style="margin-top: 0pt; margin-bottom: 0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>

= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>
= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= References =

<references />

[[Category:Resources]]

Organization:Business Model Competition

2018-01-10T20:19:43Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= [[File:Business-model-competition.jpg|thumb]] =

= Overview[[File:Business-model-competition.jpg|thumb|Business-model-competition.jpg]] =

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business 

Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>
= Success Stories =

[[File:Kaitek.PNG|none|Kaitek.PNG]]
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

'''1st Place, 2015'''
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>

= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

'''Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following:'''
<ol style="margin-top: 0pt; margin-bottom: 0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>

= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>
= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= References =

<references />

[[Category:Resources]]

Organization:Business Model Competition

2018-01-10T20:17:45Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= [[File:Business-model-competition.jpg|thumb]] =

= Overview =

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>
= Success Stories =

[[File:Kaitek.PNG|none|Kaitek.PNG]]
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

'''1st Place, 2015'''
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>

= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

'''Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following:'''
<ol style="margin-top: 0pt; margin-bottom: 0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>

= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>
= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= References =

<references />

[[Category:Resources]]

Organization:Business Model Competition

2018-01-10T20:16:55Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= [[File:Business-model-competition.jpg|thumb]] =

= Overview =

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>
= Success Stories =

[[File:Kaitek.PNG|none|Kaitek.PNG]]
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

'''1st Place, 2015'''
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>

= =

= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

'''Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following:'''
<ol style="margin-top: 0pt; margin-bottom: 0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>

= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>
= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= References =

<references />

[[Category:Resources]]

Organization:Business Model Competition

2018-01-10T20:16:15Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= [[File:Business-model-competition.jpg|thumb]] =

= Overview =

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>
= Success Stories =

[[File:Kaitek.PNG|none|Kaitek.PNG]]
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

== 1st Place, 2015 ==
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>

= =

= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

'''Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following:'''
<ol style="margin-top: 0pt; margin-bottom: 0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>

= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>
= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= References =

<references />

[[Category:Resources]]

Organization:Business Model Competition

2018-01-10T20:13:52Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= [[File:Business-model-competition.jpg|thumb]] =

= Overview =

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>
== ==

= Success Stories =

[[File:Kaitek.PNG|none|Kaitek.PNG]]
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

== 1st Place, 2015 ==
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>

= =

= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

'''Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following:'''
<ol style="margin-top: 0pt; margin-bottom: 0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>

= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>
= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= References =

<references />

[[Category:Resources]]

Organization:Business Model Competition

2018-01-10T20:13:42Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= [[File:Business-model-competition.jpg|thumb]] =

= Overview =

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>
== ==

= Success Stories =

[[File:Kaitek.PNG|none|Kaitek.PNG]]
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

== 1st Place, 2015 ==
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>

= [[File:Kaitek.PNG]] =
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

== 1st Place, 2015 ==
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>
= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

'''Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following:'''
<ol style="margin-top: 0pt; margin-bottom: 0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>

= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>
= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= References =

<references />

[[Category:Resources]]

Organization:Business Model Competition

2018-01-10T20:12:34Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= [[File:Business-model-competition.jpg|thumb]] =

= Overview =

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>
== ==

= Success Stories =

http://universityinnovation.org/images/f/f7/Kaitek.PNG
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

== 1st Place, 2015 ==
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>

= [[File:Kaitek.PNG]] =
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

== 1st Place, 2015 ==
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>
= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

'''Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following:'''
<ol style="margin-top: 0pt; margin-bottom: 0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>

= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>
= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= References =

<references />

[[Category:Resources]]

Organization:Business Model Competition

2018-01-10T20:11:04Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= [[File:Business-model-competition.jpg|thumb]] =

= Overview =

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>
== ==

= Success Stories =

= [[File:Kaitek.PNG]] =
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

== 1st Place, 2015 ==
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>
= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

'''Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following:'''
<ol style="margin-top: 0pt; margin-bottom: 0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>

= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>
= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= References =

<references />

[[Category:Resources]]

Organization:Business Model Competition

2018-01-10T20:10:47Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= [[File:Business-model-competition.jpg|thumb]] =

= Overview =

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>
== ==

= Success Stories =

= [[File:Kaitek.PNG]] =
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

== 1st Place, 2015 ==
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>
= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

'''Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following:'''
<ol style="margin-top: 0pt; margin-bottom: 0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>

= Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following: =
<ol style="margin-top:0pt;margin-bottom:0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>
= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>
= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= References =

<references />

[[Category:Resources]]

Organization:Business Model Competition

2018-01-10T20:09:24Z

Codybrock: Undo revision 59945 by Hbrengartner (talk)

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= [[File:Business-model-competition.jpg|thumb]] =

= Overview =

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>
== ==

= Success Stories =

= [[File:Kaitek.PNG]] =
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

== 1st Place, 2015 ==
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>
= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

= Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following: =
<ol style="margin-top:0pt;margin-bottom:0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>
= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>
= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= References =

<references />

[[Category:Resources]]

Organization:Business Model Competition

2018-01-10T20:04:47Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= [[File:Business-model-competition.jpg|thumb]] =

= Overview =

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
<div> </div>

== ==

= Success Stories =

= [[File:Kaitek.PNG]] =
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

== 1st Place, 2015 ==
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>

= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses'''
#'''Testing and validating these hypotheses with customers'''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

= Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following: =
<ol style="margin-top:0pt;margin-bottom:0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
<div> </div>
= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
<div> </div>

= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= References =

<references />

[[Category:Resources]]

Organization:Business Model Competition

2018-01-10T20:04:09Z

Codybrock:

<div style="float: right; clear: right; margin-left: 10em; margin-right: 10em"> </div>
= [[File:Business-model-competition.jpg|thumb]] =

= Overview =

The [http://www.businessmodelcompetition.com Business Model Competition(BMC)], or International Business Model Competition(IBMC), is a unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers, described in the following video:
<div class="center" style="width: auto; margin-left: auto; margin-right: auto">
{{#Widget:Youtube|id=K0gqNWQ8j-E|width=800p|height=400p}}

The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
</div>
By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to:

#Break down their idea into key business model assumptions
#Get outside the building and test their assumptions with REAL customers
#Apply Customer Development/Lean Startup principles to make sure they nail the pain and solution
#Learn to pivot(change) until they have arrived at a customer-validated business model

Ultimately IBMC believes this will dramatically improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process.<ref>http://www.businessmodelcompetition.com/general-information.html</ref>

= Business Model Canvas =
<div style="float: right; width: auto; margin-left: 5em; margin-right: 5em">
{{#Widget:Youtube|id=QoAOzMTLP5s|width=600p|height=400p}}
</div>
The Business Model Canvas is one of the key tools that IBMC recommends the competing teams utilize. It is a strategic management template for developing new or documenting existing business models. The canvas consists of nine business model building blocks, which can be organized into four categories: ''infrastructure, offering, customers,and finances''.<ref>[http://www.businessmodelgeneration.com/ Business Model Generation], A. Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self published, 2010</ref> By using a visual approach to design business models, the Business Model Canvas makes it easier for firms to align their activities by illustrating potential trade-offs.

[[File:Business-model-canvas.png|thumb|center|500px]]

= IBMC 2017 Winners =
<div class="center" style="width: auto; margin-left: auto; margin-right: auto"></div>
== 1st Place - [http://instapathbio.com/ Instapath], Tulane University ==

[https://www.youtube.com/watch?v=F7AYHJAkK-A https://www.youtube.com/watch?v=F7AYHJAkK-A]

 

== 2nd Place - Rubi, Brigham Young University ==

[https://www.youtube.com/watch?v=0im-6nVFfxs https://www.youtube.com/watch?v=0im-6nVFfxs]

 

== 3rd Place - ABAL Therapeutics, University of Iowa ==

<span style="text-decoration-line: underline; font-size: 12pt; font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">[https://www.youtube.com/watch?v=QdAPVp6ZhfU https://www.youtube.com/watch?v=QdAPVp6ZhfU]
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== ==

= Success Stories =

= [[File:Kaitek.PNG]] =
<div></div>
Kaitek Labs, Pontifical Catholic University of Chile

== 1st Place, 2015 ==
<div>
[http://www.kaiteklabs.com/ <span style="font-size: 9pt; font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">kaiteklabs.com] Kaitek Labs are transforming bacteria into computers. Kaitek Labs uses microorganisms’ natural capacity to gather and process information about its surroundings. This natural functionality gives both a purpose and a human interface to turn bacteria into information gathering machines,capable of expressing their ﬁndings to human users.

 Founded in 2013 by Emilia Diaz in Santiago, Chile, the company has expanded and gained support of the Chilean government granting Kaitek $350K for development. Reﬂecting on the 2015 IBMC Emilia said, “Do not underestimatewhat lean methodology can do for you. At ﬁrst I honestly thought there was absolutely no way I could apply it to slow, expensive biotech, but I actually found it a great tool when it comes to trying to move as quickly as possible….We have used it many times before and after IBMC to decide what experimental line to pursue.”
<div> </div></div>

= Important Dates - 2018 =

*<div class="paragraph" style="text-align:left">'''January 01'''  At-Large Round Submissions Open </div>
*<div class="paragraph" style="text-align:left">'''April 01'''        At-Large Round Submissions Close</div>
*<div class="paragraph" style="text-align:left">'''April 12'''       Quarterfinalist Teams Announced</div>
*<div class="paragraph" style="text-align:left">'''May 10         '''Lean Startup Thought-Leader Conference</div>
*<div class="paragraph" style="text-align:left">'''May 11'''         Quarterfinal, Semifinal, and Final Events </div>

= IBMC Sponsors & Founders =

The IBMC is sponsored by the ''Kevin and Debra Rollins Center for Entrepreneurship & Technology'' in the ''Marriot School of Management'' at ''Brigham Young University''. The competition was founded by:

*'''Nathan Furr''' (Ph.D., Stanford; Entrepreneurship Professor, BYU)
*'''Steve Blank''' (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)
*'''Alex Osterwalder '''(Co-Founder Strategyzer)
*'''Jeff Brown'''(Associate Director, Operations at BYU Rollins Center)
*'''John Richards''' (Entrepreneurship Professor, BYU)
*'''Scott Petersen''' (Director, Center for Entrepreneurship & Technology, BYU)

= Purpose =

IBMC wants to dramatically improve the success rate of new ventures by bringing a very different perspective to entrepreneurship. Instead of asking its participants to research existing business models, or craft a perfect sales pitch, IBMC focuses on the process of developing and validating the perfect business models by encouraging its participants to identify and clarify the assumption in the model. IBMC believes that entrepreneurship should not be similar to managing a corporation, since the problems they are facing and the dynamics are very different. As the first international competition of its kind (open to all students) IBMC ultimately wants to change the way entrepreneurship is currently being taught and bring our attention to the importance of validating assumptions.

= Distinct Differences From Other Startup Competitions =

The IBMC is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.

In short, IBMC emphasizes these three key steps:

#'''Identifying and tracking business model hypotheses '''
#'''Testing and validating these hypotheses with customers '''
#'''Iterating their business model based on customer feedback'''

= Impact Achieved For Students and Campus =

The IBMC helps students and campuses in many different ways. First, the competition encourages students to explore entrepreneurship - and with a different mindset. With the advice and critiques given throughout the competition, students will further develop and strengthen their ideas. Second, workshops and lectures will be arranged at the beginning of the year. These events invite experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lecturers are very helpful in bringing student interest to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and with a total of 28 award recipients, students can have a great financial start on their business as well.

= University Involvements =

The IBMC is currently co-hosted by Brigham Young University, Harvard University, and Stanford University. At the same time, it also encourages and helps local sector development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG|500px|BYU-Harvard-Stanford.PNG]]

== Qualifier Competitions ==

[[File:Qualifier Competitions.PNG|665px|Qualifier Competitions.PNG]]

== Participating Universities ==

[[File:Participating universities.PNG|700px|Participating universities.PNG]]

= Steps Required To Bring Resource to Campus =

There are two ways to become involved with the IBMC:

#[[#General_Application|'''Become a participating university''']] Advertise the competition and encourage the students to apply through a general application process.
#[[#Host_Qualifier_Competitions|'''Become a qualifier competitions host''']] Apply to be a qualifier competitions hosting university - Build, organize, and run the competition.

Here is a link to the [http://www.businessmodelcompetition.com/apply---2014.html General Application].

The Business Model Competition is open to all participatants who meet the [http://www.businessmodelcompetition.com/eligibility-criteria.html Eligibility Criteria]. Bringing this competition to campus doesn't establish the necessity to submit any application to BMC or the requirement to establish a local chapter on campus. Although, BMC does enforce a set of rules that ensure the strong representation of students within the competing teams, allowing for the attraction of new student entrepreneurs.

= Applying to the IBMC =

= Teams must fill out and submit the application form at the beginning of January. However, before submitting the application, teams also need to complete the following: =
<ol style="margin-top:0pt;margin-bottom:0pt;">
<li>Create a 5-8 minute video presentationdescribing the customer discovery and validation you have been through with your idea and business model. You may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file. See the "Presentation Video Creation Tools" section of the[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission] page for help doing this. We also strongly encourage you to check out the submission example videos on that same page.</li>
<li>Upload your video to[http://www.youtube.com/ YouTube](if you want to keep your video hidden mark it as "unlisted" NOT "private,"only someone logged into your account can watch your videos marked private).</li>
<li>Indicate that your teamunderstands and agrees to the items outlined in the[http://www.businessmodelcompetition.com/certifications--agreements-form.html Certifications and Agreements Form]. This form is also included in the appendix of the[http://www.businessmodelcompetition.com/rules--info-packet.html Competition Rules and Information Pa]</li>
</ol>

'''2018  Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html](Due April 1st)'''
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= How to Win IBMC =

  '''1. Complete''' [https://www.udacity.com/course/how-to-build-a-startup--ep245 Steve Bank's "How to Create a Startup" course on Udacity]

  '''2. Seek Out '''an appropriate mentor(s) and meet frequently with them to help you through the lean startup process.

  '''3. Familiarize '''yourself with the following IBMC website resources:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_rules_and_info_packet_2018-01-01.pdf Rules & Info Packet]</li>
<li>[http://www.businessmodelcompetition.com/uploads/9/5/4/5/95454954/ibmc_judging_criteria_2018-01-01.pdf Judging Criteria]</li>
<li>[http://www.businessmodelcompetition.com/validating-a-business-model.html Validating a Business Model]</li>
<li>[http://www.businessmodelcompetition.com/preparing-your-submission.html Preparing Your Submission]</li>
</ul>

      and the concepts in the books below (most of the books have [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/ibmc_booksummaries_2014.pdf summaries])
<ul style="list-style-type: circle; margin-left: 40px;">
<li>Nail It, Then Scale It</li>
<li>Business Model Generation</li>
<li>The Startup Owner's Manual</li>
<li>Running Lean</li>
<li>The Lean Startup</li>
<li>Boom Start</li>
</ul>

  '''4. Tracks''' your progress by using a [http://www.businessmodelcompetition.com/canvases.html canvas]. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://strategyzer.com/canvas Business Model Toolbox for iPad ](from creators of Business Model Canvas)</li>
<li>LEANSTACK.com (from the creator of Lean Canvas)</li>
<li>LeanMonitor.com</li>
<li>Business Model Fiddle</li>
<li>TheStartupToolkit.com</li>
</ul>

  '''5. Watch '''the following videos on the IBMC website:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[http://www.businessmodelcompetition.com/training-workshop-videos.html Submission Orientation & Best Practices]</li>
<li>Submission Examples</li>
<li>[http://www.businessmodelcompetition.com/past-winner-videos.html Past Winners]</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>[https://www.facebook.com/newcareer/ IBMC Facebook and Twitter]</li>
<li>[http://blog.strategyzer.com/ Strategyzer Blog]</li>
<li>[https://steveblank.com/ Steve Bank's Blog]</li>
<li>[http://ashmaurya.com/ Ash Maurya's Blog]</li>
</ul>

  '''7. Complete '''the submission form on the IBMC website prior to the deadline

You can find a PDF of this checklist here

= Creating a University Competition =

The organizers of the International Business Model Competition encourage the development of similar competitionsat schools throughout the world. Business model competitions transform student entrepreneurs' perspectives, helping them learn a more effective approach to entrepreneurship that dramatically increases their chances of success. Even if your school already holds a business plan competition, experience has shown that holding a BMC before or in conjunction with a business plan competition or new venture competition leads to significantly better businesses.

 

Universities interested in hosting their own qualifier competition must have a full-time faculty or staff that will hold the position of competition director to insure the longevity of the competition. It is also strongly recommended that this director leverage an existing student club or assemble a team of student leaders to run the competition. If would like to start a qualifier competition at your school or have an existing competition serve as an IBMC Qualifier Competition, send an email to [mailto:businessmodelcompetition@gmail.com <span style="font-family: Arial; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">businessmodelcompetition@gmail.com].

IBMC made a strategic guideline to help universities start the BMC qualifier competition on their campus. The detailed documentation can be downloaded here: [http://www.businessmodelcompetition.com/uploads/5/1/5/7/5157318/_creating_a_university_competition.doc <span style="font-family: Arial; background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; vertical-align: baseline; white-space: pre-wrap;">Download Guideline].
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= Contact Information =

The administration office for the International BMC is housed within the Rollins Center for Entrepreneurship & Technology at Brigham Young University. To contact the administrators, contact the Rollins Center for Entrepreneurship & Technology using the information provided below, or send an email to businessmodelcompetition@gmail.com

'''Rollins Center for Entrepreneurship & Technology''' 470 Tanner Building Marriott School of Management Brigham Young University Provo, UT 84602 Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= References =

<references />

[[Category:Resources]]

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