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= [[File:Business-model-competition.jpg|thumb|Business-model-competition.jpg]] =
= Overview =
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 2013 Winners<br/> =
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= Important Success Stories = <span style="font-size:larger">'''XoomPark'''</span>: [[File:Xoompark.png|none|Xoompark.png]]Winner of the 2012 IBMC competition, XoomPark offers online parking reservations for large, downtown events. These reserved spots are within walking distance of multiple venues such as sports arenas, theaters, restaurants etc. Event attendees no longer need to show up hours in advance to get a decent parking space at events or carry around extra cash to pay parking attendants. When XoomPark competed in the IBMC last year, it had only two major parking garages as paying customers. Since then, XoomPark has over 70 parking lots in 18 cities. They have expanded their reserved parking for a greater range of events such as NBA, NFL, and MLB. Ken Frei, founder of XoomPark, states that going through the business model process “helps you look at the core fundamentals of your business really quickly, and to see whether or not you are solving a critical pain.” Validation and testing is clearly still intergral in their business processes as they look for new ways to scale. = IBMC 2014 Dates<br/> =
*<div class="paragraph" style="text-align:left">'''<font color="#2a2a2a">October 15: Training Workshop (streamed online)</font>'''<br/></div>