How we started … Steve Blank -Author of The Four Steps to the Epiphany that launched the Lean Startup movement Alex Osterwalder -Co-author of Business Model Generation -Creator of Business Model Canvas Nathan Furr -Co-author of Nail It Then Scale It -Lead author of The Innovator’s Method

What we do … “The International Business Model Competition evangelizes lean startup principles and aims to educate and inspire smarter and more successful entrepreneurs.”

What we reward … Identifying and tracking key business model hypotheses Testing and validating those hypotheses with customers Pivoting and iterating business models based on customer interactions and feedback

Where we focus … “We focus on the process and learning a team goes through as they test their hypotheses with customers and develop validated business models. The goal is validated learning about the key business model hypotheses and failing early is a success compared to failing late.”

How we’re different … The IBMC is different than other traditional student venture competition. We focus on education and learning. We provide all competing teams with a pre-competition mentor The first day of our competition is a conference with presentations and workshops from lean startup experts and guest speakers Pitches focus on the lean startup process and traction, not outcomes We encourage competitors to watch each other’s presentations

How we’re different … Outside versus Inside the Building: Outdated business plans were written using library research. Successful business models are achieved through talking to customers and making changes based on feedback from those conversations.  Input versus Output Focus: Traditional student venture competitions focused on compelling write-ups and slide presentations that check all the right boxes. In the IBMC, sleek presentations are not going to cut it. And the boxes that do need to be checked are new and impossible to fake. Validated learning about what customers really want is the stuff a business model is made of and music to the ears of potential investors.

How we’re different … Customer Development versus Product Development: Product development while important for mature companies, doesn’t work for startups. Customer development leverages prototypes, which are minimum viable products that compress the development cycle and jump start the learning process. Change versus Fortify: Most business plans attempt to fortify/prove the core idea with evidence. Judges of the IBMC look for instances where teams learned they were wrong and made a change or “pivot” in a new and right direction.

How we’re different … Chasing Customers versus Chasing Funding: Most business plans are written to raise money. Unfortunately the business plan formula doesn’t capture the answers investors most want to see: real validation that you can make a product customers want. Instead of chasing the money, chase customers.  Doing versus Talking: Business plans are static documents that often talk about what will happen in the future. Business models and the IBMC reward entrepreneurs who are actively going into the field to speak with and learn from customers.

45 Teams, 6 Schools, and 2 Countries Where we’ve been … 2017 5,953 Teams, 495 Schools, and 27 Countries 2016 5,113 Teams, 482 Schools, and 29 Countries 2015 3,832 Teams, 276 Schools, and 15 Countries 2014 2,418 Teams, 209 Schools, and 19 Countries 2013 1,383 Teams, 143 Schools, and 10 Countries 2012 59 Teams, 7 Schools, and 1 Country 45 Teams, 6 Schools, and 2 Countries 2011

What we’ve seen … 18,803 student teams from hundreds of schools in 38 countries and six continents have competed in IBMC-affiliated competitions 2016 Participant Demographics: 64% non-US, 57% non-white, and 24% female Woman-led team crowned the Global Champion in 2015 (Emilia Diaz, Kaitek Labs)

Who we’ve launched … -1st Place, IBMC 2016 -Lemelson-MIT Invention Award -$1.3M in funding -4th Place, IBMC 2015 -Y Combinator Accelerator -$1M in funding

Who we’ve launched … -1st Place, IBMC 2013 -3rd Place, IBMC 2012 -R/GA Techstars Accelerator -$24M in funding -3rd Place, IBMC 2012 -Amplify.LA Accelerator -$9M in funding

What we’ve learned … There is a better, more successful way to be an entrepreneur and launch companies The global entrepreneurial community is taking note and adapting to the change There is still more to be done to help entrepreneurs who are the lifeblood of the local and global economy

We’d love to connect … Jeff Brown, IBMC Director IBMC Email: jeff.brown@byu.edu Mobile: 801.367.3936 LinkedIn: @jeffbrown40 IBMC Email: businessmodelcompetition@gmail.com Web: businessmodelcompetition.com Facebook: @businessmodelcompetition Twitter: @intlbmc