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Organization:Business Model Competition

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Category: Resources

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The [http://www.businessmodelcompetition.com <b>Business Model Competition(BMC)</b>], or International Business Model Competition(IBMC), is an unique business development competition that differentiates itself from other business plan competitions by stressing the value of validation with real customers.

= Overview =

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== Business Model Canvas ==

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Business Model Canvas is one of the key tool that IBMC recommends the competing teams use. 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 model, 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<ref>http://www.businessmodelcompetition.com/business-model-canvas.html</ref>~~]]

== IBMC 2013 Top 3 Winners ==

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= Purpose =

Seeing many new businesses fails in the first a few years, IBMC wants to dramatically improve the success rate 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 focus 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 and open to all students, IBMC ultimately wants to change the way currently entrepreneurship is being taught, and bring our attention to the importance of validating assumptions.

= Impact Achieved For Students and Campus =

The IBMC helps the students and campus in many different ways. First, the competition encourage the students to explore entrepreneurship. With the advises and critiques given in the competition, students will develop their ideas in a much better way. Second, workshops and lectures will be arranged at the beginning of the year. These events invites experienced entrepreneurs to talk about their approach and help the students work on their businesses. Even without the competition, these lectures are very helpful in bringing students to entrepreneurship. Lastly, the monetary award helps the winners to roll out the business plan. With $25,000 given to the first place and 28 total award recipients, students can have a good start on their business.

== 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 the local sectors development. Currently, it has ten universities and colleges hosting qualifier competitions, and three participating universities.

[[File:BYU-Harvard-Stanford.PNG]] [[File:Qualifier Competitions.PNG]] [[File:Participating universities.PNG]]

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= Steps Required To Bring Resource to Campus =

'''Rollins Center for Entrepreneurship'''

470 Tanner BuildingMarriott School of ManagementBrigham Young UniversityProvo, UT 84602

Phone: (801) 422-7437 Fax: (801) 422-0109 E-mail: rollinscet@byu.edu

= References =

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