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= Overview =
[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.<div class="left" style="float: right; width: auto; margin-left: auto; margin-right: auto;">{{#Widget:Youtube|id=K0gqNWQ8j-E}}</div>
By recognizing over 85 percent of new business fall within a few years, often because they try to plan their way to success, The IBMC represents a radical departure from the past and 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<ref>http://www.businessmodelcompetition.com/general-information.html</ref>: