University Innovation Fellows - User contributions [en]

School:Elon University

2018-01-26T04:01:36Z

Hbrengartner:

[[File:Heading.jpg|border|Heading.jpg]]

= '''Overview''' =

Elon University is a selective, mid-sized private university in Elon, North Carolina. Elon is renowned as a national model for engaged and experiential learning across its five schools; Martha and Spencer Love School of Business, the College of Arts and Sciences, the School of Communications, the School of Education, the School of Education, the School of Health Sciences, and the School of Law.  The curriculum is grounded in the traditional liberal arts and sciences and complemented by nationally accredited professional and graduate programs. Students work closely with faculty who are dedicated to excellent teaching and scholarship.

== '''Entrepreneurship and Innovation''' ==

Elon currently offers a major and a minor in entrepreneurship through the Doherty center, which prepares students to become entrepreneurs in either for-profit businesses or social businesses. While this helps, it is not enough. The business school alone seems to have a monopoly on entrepreneurship and there is not enough interdisciplinary application of design thinking and innovation. Our promotion of I&E seeks to inspire students to create and change the world around them in a variety of majors, requiring widespread faculty support and appeals to creativity that match all kinds of students.

== '''Encouraging Faculty Innovation and Entrepreneurship''' ==

Many faculty members within Elon University are very innovative and entrepreneurial in the way in which they approach their independent research projects and publications, yet it does not seem as though the students or community are always informed about their accomplishments. In order to encourage our faculty members to continue being innovative and entrepreneurial we must reward them for what they are already doing.

== '''Actively Support the University Technology Transfer Function''' ==

We do not have sufficient resources to pursue this specific category but have plans to apply the four other categories to our campus. We hope to have the opportunity and resources to incorporate this category down the road. 

== '''Facilitating University - Industry Collaboration''' ==

Elon is located in the Triad and is very close to the Research Triangle. Our Student Professional Development Center works to connect students with businesses in both of these areas. We also have large job and internship fairs that bring in startups and large companies like Deloitte and Oracle. These programs are very common among most schools and we are currently working to expand them. Because of the many other schools in the area with strong research focuses it is difficult to attract larger research projects but there are some smaller companies that we have been able to work with. Our Environmental Department has been involved with doing some really neat testing for products that will be sold to Kobalt and there are many other projects taking place within our other departments. As a Leadership Circle this is an area I think we could improve in. To do this we will need to reach out to many of the local companies to see what types of projects and research they might need validated. Because we are such a small school compared to schools like NC State there are some smaller projects that we could work on that would be very helpful to those businesses. The first step for us will be getting involved with the Chamber of Commerce.

== '''Engaging with Regional and Local Economic Development Efforts''' ==

Elon has made a lot of progress in this area and our plans are to continue to make huge leaps and bounds here. The town of Elon and the surrounding area were hit hard when the textile companies left. Over the next 20 years our university has major priorities to help build up the areas around Elon and create an environment that will bring in more business and attract students and faculty. We have also invested in offices in downtown Burlington and Greensboro that are specifically geared toward community engagement, innovation, and entrepreneurship. These efforts are only possible with the support of the entire university so we plan to help out in whatever way we can. Initially it will be important to do surveys and studies on other universities that have accomplished similar goals. One example that we have looked at is Duke University, which has helped transform Durham over the years.

== '''Next Steps''' ==

Interdisciplinary innovation (not just through business school)

*Creating I&E culture (forums, speakers, discussions, LLC, awards, more student businesses, etc.)
*Marketing (using Pendulum, career fair, and likely social media to advertise our events)
*Identifying all possible sources that can stimulate innovation (for funding, advice, etc.)



Since Elon is essentially starting from "stage 1," we must do everything we can to get more students to start businesses, non-profits, organizations, etc. and truly ingrain creativity into our culture.

= Elon University Landscape Canvas =

[https://docs.google.com/spreadsheets/d/1fEL3TlqMAIH0q7wrfNEheu2k0SETwzID-UKNVn9ucuc/edit#gid=0 https://docs.google.com/spreadsheets/d/1fEL3TlqMAIH0q7wrfNEheu2k0SETwzID-UKNVn9ucuc/edit#gid=0]

[https://docs.google.com/presentation/d/1TCittUeWJaZGflEmA0TvSvxcCWw_Zo0jzAET9-RSoNE/edit?usp=sharing Slidedeck] 

= Related Links =

[[Elon University Student Priorities]]

University Innovation Fellows

Spring 2018: 

[http://universityinnovation.org/wiki/Yousaf_Khan Yousaf Khan]

[http://universityinnovation.org/wiki/Regan_O%27Donnell Regan O'Donnell]

[http://universityinnovation.org/wiki/Noor_Irshaidat Noor Irsh]aidat

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

Spring 2017:

[http://universityinnovation.org/wiki/Josh_Cadorette Josh Cadorette]

[http://universityinnovation.org/wiki/Briana_Brady Briana Brady]

[http://universityinnovation.org/wiki/James_setzer James Setzer]

[http://universityinnovation.org/wiki/Nick_Smith Nick Smith]

Spring 2016:

[[Elizabeth Jordan]]

[[Gabrielle Vance]]

[[Sean Webber]]

[[Kyle McKinley]]

[[William Kakavas]]

Spring 2015:

[[Ben Driscoll]]

[[Jensen Roll]]

[[Matt Snow]]

[[Giles Roll]]

[[Category:Universities]]

Organization:Business Model Competition

2018-01-10T20:26:50Z

Hbrengartner:

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

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|Business-model-canvas.png]]

= 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

= References =

<references />

[[Category:Resources]]

Fellow:Haley Brengartner

2018-01-10T20:25:55Z

Hbrengartner:

<div>[[File:HaleyHeadshot.jpg]] </div><div>Haley Brengartner is a sophomore at Elon University completing a double major in Economic Consulting and Entrepreneurship. Her focuses include data analytics and creative problem solving. Haley is originally from Strongsville, Ohio which is a suburb outside of Cleveland, until she moved to North Carolina to pursue her undergraduate degree.                          </div><div> </div><div>At Elon University, Haley is a Leadership Fellow, a Resident Assistant, and an active member of her school's premier business fraternity, Alpha Kappa Psi. In addition, she interns at Volvo and Mack Trucks in Greensboro, North Carolina working on Competitive Intelligence. Her interests for entrepreneurship began at a young age and continue throughout her university experiences. Outside of her academic endeavors, Haley is working towards attaining her Captains License to fulfill her passion for sailing. She strives to be a lifelong learner by becoming endlessly engaged with her surroundings and wishes to aid others in their entrepreneurial pursuits as they come.</div>

File:HaleyHeadshot.jpg

2018-01-10T20:25:20Z

Hbrengartner:

Fellow:Haley Brengartner

2018-01-10T20:22:27Z

Hbrengartner:

<div>Haley Brengartner is a sophomore at Elon University completing a double major in Economic Consulting and Entrepreneurship. Her focuses include data analytics and creative problem solving. Haley is originally from Strongsville, Ohio which is a suburb outside of Cleveland, until she moved to North Carolina to pursue her undergraduate degree.                          </div><div> </div><div>At Elon University, Haley is a Leadership Fellow, a Resident Assistant, and an active member of her school's premier business fraternity, Alpha Kappa Psi. In addition, she interns at Volvo and Mack Trucks in Greensboro, North Carolina working on Competitive Intelligence. Her interests for entrepreneurship began at a young age and continue throughout her university experiences. Outside of her academic endeavors, Haley is working towards attaining her Captains License to fulfill her passion for sailing. She strives to be a lifelong learner by becoming endlessly engaged with her surroundings and wishes to aid others in their entrepreneurial pursuits as they come.[https://www.facebook.com/photo.php?fbid=1646739558909258&set=a.1490461191203763.1073741826.100007196898066&type=3&theater https://www.facebook.com/photo.php?fbid=1646739558909258&set=a.1490461191203763.1073741826.100007196898066&type=3&theater]</div>

Fellow:Haley Brengartner

2018-01-10T20:21:51Z

Hbrengartner:

<div>Haley Brengartner is a sophomore at Elon University completing a double major in Economic Consulting and Entrepreneurship. Her focuses include data analytics and creative problem solving. Haley is originally from Strongsville, Ohio which is a suburb outside of Cleveland, until she moved to North Carolina to pursue her undergraduate degree.                          </div><div> </div><div>At Elon University, Haley is a Leadership Fellow, a Resident Assistant, and an active member of her school's premier business fraternity, Alpha Kappa Psi. In addition, she interns at Volvo and Mack Trucks in Greensboro, North Carolina working on Competitive Intelligence. Her interests for entrepreneurship began at a young age and continue throughout her university experiences. Outside of her academic endeavors, Haley is working towards attaining her Captains License to fulfill her passion for sailing. She strives to be a lifelong learner by becoming endlessly engaged with her surroundings and wishes to aid others in their entrepreneurial pursuits as they come.https://scontent-iad3-1.xx.fbcdn.net/v/t1.0-9/10372221_1646739558909258_99054056744465137_n.jpg?oh=b4c0b9fa763e0e624d86d00c40105aee&oe=5AB7140B</div>

Fellow:Haley Brengartner

2018-01-10T20:17:54Z

Hbrengartner: Created page with "<div>https://scontent-iad3-1.xx.fbcdn.net/v/t1.0-9/10372221_1646739558909258_99054056744465137_n.jpg?oh=b4c0b9fa763e0e624d86d00c40105aee&oe=5AB7140BHaley Brengartner is a soph..."

<div>https://scontent-iad3-1.xx.fbcdn.net/v/t1.0-9/10372221_1646739558909258_99054056744465137_n.jpg?oh=b4c0b9fa763e0e624d86d00c40105aee&oe=5AB7140BHaley Brengartner is a sophomore at Elon University completing a double major in Economic Consulting and Entrepreneurship. Her focuses include data analytics and creative problem solving. Haley is originally from Strongsville, Ohio which is a suburb outside of Cleveland, until she moved to North Carolina to pursue her undergraduate degree.                          </div><div> </div><div>At Elon University, Haley is a Leadership Fellow, a Resident Assistant, and an active member of her school's premier business fraternity, Alpha Kappa Psi. In addition, she interns at Volvo and Mack Trucks in Greensboro, North Carolina working on Competitive Intelligence. Her interests for entrepreneurship began at a young age and continue throughout her university experiences. Outside of her academic endeavors, Haley is working towards attaining her Captains License to fulfill her passion for sailing. She strives to be a lifelong learner by becoming endlessly engaged with her surroundings and wishes to aid others in their entrepreneurial pursuits as they come.</div>

Organization:Business Model Competition

2018-01-10T20:05:29Z

Hbrengartner:

<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]] 

</references>

Organization:Business Model Competition

2018-01-10T20:00:28Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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

2018-01-10T19:52:34Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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''' 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>Rules & Info Packet</li>
<li>Judging Criteria</li>
<li>Validating a Business Model</li>
<li>Preparing Your Submission</li>
</ul>

      and the concepts in the books below (most of the books have 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 canvas. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>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>Submission Orientation & Best Practices</li>
<li>Submission Examples</li>
<li>Past Winners</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>IBMC Facebook and Twitter</li>
<li>Strategyzer Blog</li>
<li>Steve Bank's Blog</li>
<li>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

2018-01-10T19:52:15Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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''' 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>Rules & Info Packet</li>
<li>Judging Criteria</li>
<li>Validating a Business Model</li>
<li>Preparing Your Submission</li>
</ul>

      and the concepts in the books below (most of the books have 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 canvas. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>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>Submission Orientation & Best Practices</li>
<li>Submission Examples</li>
<li>Past Winners</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>IBMC Facebook and Twitter</li>
<li>Strategyzer Blog</li>
<li>Steve Bank's Blog</li>
<li>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

2018-01-10T19:50:45Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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''' 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>Rules & Info Packet</li>
<li>Judging Criteria</li>
<li>Validating a Business Model</li>
<li>Preparing Your Submission</li>
</ul>

      and the concepts in the books below (most of the books have 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 canvas. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>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>Submission Orientation & Best Practices</li>
<li>Submission Examples</li>
<li>Past Winners</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>IBMC Facebook and Twitter</li>
<li>Strategyzer Blog</li>
<li>Steve Bank's Blog</li>
<li>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

2018-01-10T19:50:22Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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 videoto[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''' 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>Rules & Info Packet</li>
<li>Judging Criteria</li>
<li>Validating a Business Model</li>
<li>Preparing Your Submission</li>
</ul>

      and the concepts in the books below (most of the books have 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 canvas. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>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>Submission Orientation & Best Practices</li>
<li>Submission Examples</li>
<li>Past Winners</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>IBMC Facebook and Twitter</li>
<li>Strategyzer Blog</li>
<li>Steve Bank's Blog</li>
<li>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

2018-01-10T19:49:10Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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 http://www.businessmodelcompetition.com/preparing-your-submission.html][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 videoto[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''' 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>Rules & Info Packet</li>
<li>Judging Criteria</li>
<li>Validating a Business Model</li>
<li>Preparing Your Submission</li>
</ul>

      and the concepts in the books below (most of the books have 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 canvas. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>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>Submission Orientation & Best Practices</li>
<li>Submission Examples</li>
<li>Past Winners</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>IBMC Facebook and Twitter</li>
<li>Strategyzer Blog</li>
<li>Steve Bank's Blog</li>
<li>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

2018-01-10T19:47:11Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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 videoto[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''' 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>Rules & Info Packet</li>
<li>Judging Criteria</li>
<li>Validating a Business Model</li>
<li>Preparing Your Submission</li>
</ul>

      and the concepts in the books below (most of the books have 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 canvas. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>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>Submission Orientation & Best Practices</li>
<li>Submission Examples</li>
<li>Past Winners</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>IBMC Facebook and Twitter</li>
<li>Strategyzer Blog</li>
<li>Steve Bank's Blog</li>
<li>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

2018-01-10T19:46:19Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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.

= To apply 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 videoto[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''' 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>Rules & Info Packet</li>
<li>Judging Criteria</li>
<li>Validating a Business Model</li>
<li>Preparing Your Submission</li>
</ul>

      and the concepts in the books below (most of the books have 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 canvas. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>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>Submission Orientation & Best Practices</li>
<li>Submission Examples</li>
<li>Past Winners</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>IBMC Facebook and Twitter</li>
<li>Strategyzer Blog</li>
<li>Steve Bank's Blog</li>
<li>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

2018-01-10T19:45:20Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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.

To apply 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 videoto[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''' 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>Rules & Info Packet</li>
<li>Judging Criteria</li>
<li>Validating a Business Model</li>
<li>Preparing Your Submission</li>
</ul>

      and the concepts in the books below (most of the books have 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 canvas. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>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>Submission Orientation & Best Practices</li>
<li>Submission Examples</li>
<li>Past Winners</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>IBMC Facebook and Twitter</li>
<li>Strategyzer Blog</li>
<li>Steve Bank's Blog</li>
<li>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

2018-01-10T19:44:52Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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.

To apply 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 videoto[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''' 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>Rules & Info Packet</li>
<li>Judging Criteria</li>
<li>Validating a Business Model</li>
<li>Preparing Your Submission</li>
</ul>

      and the concepts in the books below (most of the books have 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 canvas. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>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>Submission Orientation & Best Practices</li>
<li>Submission Examples</li>
<li>Past Winners</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>IBMC Facebook and Twitter</li>
<li>Strategyzer Blog</li>
<li>Steve Bank's Blog</li>
<li>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

2018-01-10T19:44:35Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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.

= To apply 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 videoto[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''' 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>Rules & Info Packet</li>
<li>Judging Criteria</li>
<li>Validating a Business Model</li>
<li>Preparing Your Submission</li>
</ul>

      and the concepts in the books below (most of the books have 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 canvas. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>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>Submission Orientation & Best Practices</li>
<li>Submission Examples</li>
<li>Past Winners</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>IBMC Facebook and Twitter</li>
<li>Strategyzer Blog</li>
<li>Steve Bank's Blog</li>
<li>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

2018-01-10T19:43:44Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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.

= To apply 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 videoto[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''' 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>Rules & Info Packet</li>
<li>Judging Criteria</li>
<li>Validating a Business Model</li>
<li>Preparing Your Submission</li>
</ul>

      and the concepts in the books below (most of the books have 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 canvas. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>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>Submission Orientation & Best Practices</li>
<li>Submission Examples</li>
<li>Past Winners</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>IBMC Facebook and Twitter</li>
<li>Strategyzer Blog</li>
<li>Steve Bank's Blog</li>
<li>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

2018-01-10T19:43:28Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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.

= To apply 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 videoto[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''' 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>Rules & Info Packet</li>
<li>Judging Criteria</li>
<li>Validating a Business Model</li>
<li>Preparing Your Submission</li>
</ul>

      and the concepts in the books below (most of the books have 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 canvas. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>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>Submission Orientation & Best Practices</li>
<li>Submission Examples</li>
<li>Past Winners</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>IBMC Facebook and Twitter</li>
<li>Strategyzer Blog</li>
<li>Steve Bank's Blog</li>
<li>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

2018-01-10T19:43:05Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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.

= To apply 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 videoto[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''' 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>Rules & Info Packet</li>
<li>Judging Criteria</li>
<li>Validating a Business Model</li>
<li>Preparing Your Submission</li>
</ul>

      and the concepts in the books below (most of the books have 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 canvas. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>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>Submission Orientation & Best Practices</li>
<li>Submission Examples</li>
<li>Past Winners</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>IBMC Facebook and Twitter</li>
<li>Strategyzer Blog</li>
<li>Steve Bank's Blog</li>
<li>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

2018-01-10T19:42:44Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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.

= To apply 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 videoto[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''' 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>Rules & Info Packet</li>
<li>Judging Criteria</li>
<li>Validating a Business Model</li>
<li>Preparing Your Submission</li>
</ul>

      and the concepts in the books below (most of the books have 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 canvas. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>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>Submission Orientation & Best Practices</li>
<li>Submission Examples</li>
<li>Past Winners</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>IBMC Facebook and Twitter</li>
<li>Strategyzer Blog</li>
<li>Steve Bank's Blog</li>
<li>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

2018-01-10T19:42:26Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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.

===
To apply 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 videoto[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(Due April 1st)
<div> </div> ===

=== How to Win IBMC ===

  '''1. Complete''' 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>Rules & Info Packet</li>
<li>Judging Criteria</li>
<li>Validating a Business Model</li>
<li>Preparing Your Submission</li>
</ul>

      and the concepts in the books below (most of the books have 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 canvas. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>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>Submission Orientation & Best Practices</li>
<li>Submission Examples</li>
<li>Past Winners</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>IBMC Facebook and Twitter</li>
<li>Strategyzer Blog</li>
<li>Steve Bank's Blog</li>
<li>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

2018-01-10T19:40:18Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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.

=== [http://www.businessmodelcompetition.com/apply---2014.html How to Apply] ===

To apply 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:

#Create a video presentation describing the up-to-date validation and customer discovery with the idea and business model
#Upload the video to YouTube
#Fill out and sign the Certifications and Agreements (to be scanned and uploaded in the application form)

2014 Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html] (Due March 31st)

=== How to Win IBMC ===

  '''1. Complete''' 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>Rules & Info Packet</li>
<li>Judging Criteria</li>
<li>Validating a Business Model</li>
<li>Preparing Your Submission</li>
</ul>

      and the concepts in the books below (most of the books have 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 canvas. Consider using a digital tool to help with this process. A few are:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>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>Submission Orientation & Best Practices</li>
<li>Submission Examples</li>
<li>Past Winners</li>
</ul>

  '''6. Follow '''these blogs and social media accounts:
<ul style="list-style-type: circle; margin-left: 40px;">
<li>IBMC Facebook and Twitter</li>
<li>Strategyzer Blog</li>
<li>Steve Bank's Blog</li>
<li>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

2018-01-10T19:39:43Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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.

=== [http://www.businessmodelcompetition.com/apply---2014.html How to Apply] ===

To apply 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:

#Create a video presentation describing the up-to-date validation and customer discovery with the idea and business model
#Upload the video to YouTube
#Fill out and sign the Certifications and Agreements (to be scanned and uploaded in the application form)

2014 Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html] (Due March 31st)

=== [http://www.businessmodelcompetition.com/starting-a-competition.html Host Qualifier Competitions] ===

IBMC encourages the development of qualifier competitions at other colleges and universities. The winners of these competitions will receive an automatic advancement in the International Competition, while other contenders may still apply through the [[#General_Application|General Application]]. Any college or university interested in hosting a local competition is encouraged to contact businessmodelcompetition@gmail.com

= 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

2018-01-10T19:39:31Z

Hbrengartner:

<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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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.

=== [http://www.businessmodelcompetition.com/apply---2014.html How to Apply] ===

To apply 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:

#Create a video presentation describing the up-to-date validation and customer discovery with the idea and business model
#Upload the video to YouTube
#Fill out and sign the Certifications and Agreements (to be scanned and uploaded in the application form)

2014 Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html] (Due March 31st)

=== [http://www.businessmodelcompetition.com/starting-a-competition.html Host Qualifier Competitions] ===

IBMC encourages the development of qualifier competitions at other colleges and universities. The winners of these competitions will receive an automatic advancement in the International Competition, while other contenders may still apply through the [[#General_Application|General Application]]. Any college or university interested in hosting a local competition is encouraged to contact businessmodelcompetition@gmail.com

= 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

2018-01-10T19:39:14Z

Hbrengartner:

<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

 

2nd Place - Rubi, Brigham Young University

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 Offerings =

The IBMC, unlike other business competitions, stresses the process of developing a validated business model. The competition is looking for its participants to identify and validate the underlying assumptions, no matter how advanced the product or big the market. The competition will eventually be judged on the development process and final business model.

In short, IBMC emphasizes these three key steps:

#'''Identify the assumptions'''
#'''Test the assumptions with real customers'''
#'''Pivot and tell the story'''

= 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.

=== [http://www.businessmodelcompetition.com/apply---2014.html How to Apply] ===

To apply 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:

#Create a video presentation describing the up-to-date validation and customer discovery with the idea and business model
#Upload the video to YouTube
#Fill out and sign the Certifications and Agreements (to be scanned and uploaded in the application form)

2014 Application form: [http://www.businessmodelcompetition.com/apply.html http://www.businessmodelcompetition.com/apply.html] (Due March 31st)

=== [http://www.businessmodelcompetition.com/starting-a-competition.html Host Qualifier Competitions] ===

IBMC encourages the development of qualifier competitions at other colleges and universities. The winners of these competitions will receive an automatic advancement in the International Competition, while other contenders may still apply through the [[#General_Application|General Application]]. Any college or university interested in hosting a local competition is encouraged to contact businessmodelcompetition@gmail.com

= 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]]