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The International Business Model Competition is the first and largest lean startup competition in the world. The competition's primary aim is to educate and inspire smarter entrepreneurs who launch ventures that are more successful.
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By recognizing that over 85 percent of new business fail within the first few years, often due to the attempt to plan their way to success, the IBMC represents a radical departure from the past and is at the crest of a new paradigm in entrepreneurship. '''The IBMC is not a business plan competition.''' It doesn't reward the student for doing lots of library research, <span style="font-size:small;"></span>drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead the IBMC want the students to<ref>http://www.businessmodelcompetition.com/general-information.html</ref>:
#Break down their idea into key business model assumptions
#Learn to pivot(change) until they have arrived at a customer-validated business model
Ultimately IBMC believe<span style="font-size:small;"></span>s 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 =
