Event Description
The Business Model Competition is about recognizing that any new venture is just a guess at a problem or solution and the only valid way to test whether those guesses are right is to “get outside the building” and start working with customers.
The competition requires a focus on actively identifying and validating crucial business model hypotheses rather than writing 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.
The Business Model Competition focuses on:
- Identifying and tracking key business model hypotheses (use the Lean Canvas)
- Testing and validating those hypotheses with customers (getting outside the building)
- Pivoting and iterating their business model based on customer interactions
Submissions for the competition focus on the process and learning a team goes through as they test their hypotheses with customers and develop validated business models.
Prizes: - First place $1,000
- Second place $500
- Third place $250
Register to compete or attend by clicking HERE. Competitors should attend one of the two information sessions or should schedule a meeting with the Baiada Institute. Also see the attachment for this event at the right side of this page.
|
