THE FIRST AND LARGEST INTERNATIONAL LEAN STARTUP COMPETITION 2018 IBMC
If you have any questions regarding the competition, please contact one of the IBMC administrators.
Jeff Brown DIRECTOR
Brennan Steiner STUDENT DIRECTOR
#IBMC2018 @businessmodelcompetition @intlbmc @internationalbmc @intbmc
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Prizes Schedule Maps Speakers & Presenters Competing Teams Judging How to Win
Prizes 1st $30,000 2nd $20,000 3rd $12,000
4th $8,000 5th $6,000 6th-10th $3,500
11th-20th $3,000 Remaining Teams $2,500
IBMC Champions Every year, the winner of the International Business Model Competition takes home the IBMC traveling trophy. This year, the trophy comes to the competition via Tulane University, home of last yearâ&#x20AC;&#x2122;s winner Instapath. The 2018 competition is a new year and a new champion will be crowned. Bring your best to the IBMC and you may take home more than just prize money.
University of Iowa
Mathew Rooda, Abraham Espinoza, David Hensley
Emilia Diaz, Cristobal Aller
Owlet Baby Monitors Brigham Young University
Kurt Workman, Jordan Monroe, Jacob Colvin, Tanor Hodges, Zach Bomsta, Adam Rogers
Pontifical Catholic University of Chile
University of Utah
Brigham Young University
Mei Wang, David Tulman, Pete Lawson, J. Quincy Brown
Nate Rhodes, Martin de la Presa, Mitch Barneck
Thursday, May 10 9:30-10:00 AM
Check-In and Registration
Welcome and Orientation
Workshop with David Bland
Attendees will check in, receive IBMC info packet and mingle with other attendees.
Attendees will receive a welcome and orientation about the conference and competition.
Attendees will have the opportunity to participate in a workshop led by David Bland, co-founder and CEO of Precoil.
Lunch and Speaker
Attendees will eat lunch and hear from Aaron Eden, COO and co-founder of Moves the Needle.
Lean Workshop with Ash Maurya
Dinner and Speaker
Attendees will have the opportunity to take part in a 2-hr workshop led by Ash Maurya, author of the Wall Street Journal bestselling book Running Lean and creator of the Lean Canvas.
Attendees will have the opportunity to mingle with one another while enjoying drinks and hâ&#x20AC;&#x2122;ordeuvres. A networking activity with door prizes will be included.
Attendees will eat dinner and hear from Chelsea Carroll, founder of Uptown Cheapskate. The networking activity door prize winners will be announced.
Friday, May 11 8:30-9:00 AM 9:10-11:30 AM 11:30-12:00 PM 12:00-1:00 PM
Judge Training and Orientationt Judges will receive training and orientation.
Teams will be divided into 4 rooms and present for 10 minutes to a panel of judges with up to 3 minutes of Q&A. Teams are encouraged to watch the presentations of other teams in their room.
Break and Judge Deliberation Lunch and Quarterfinal Results
Attendees will eat lunch and the results of the Quarterfinal Round will be announced.
Challenge Round/ Semifinal Round Preparation
Break and Judge Deliberation
Dinner, Keynote Speaker & Semifinal Results
Final Event & Awards Ceremony
All teams that didn’t advance to the Semifinal round will be divided into 4 rooms and give an up to 20-minute pitch with intermittent Q&A from judges. 4 teams will advance to compete in the Semifinal round. The semifinalist teams will take this time to prepare for the Semifinal round while the 4 teams from the Challenge Round will present last in the Semifinal Round so they have time to prepare.
Teams will be divided into 4 rooms and present for 10 minutes to a panel of judges with up to 5 minutes of Q&A. Teams are encouraged to watch the presentations of other teams in their room.
Attendees will eat dinner, hear from our keynote speaker (Ryan Smith, CEO and co-founder of Qualtrics) and the results of the Semifinal Round will be announced.
The finalists will compete for the title of “Global Champion” and the winner will take home the IBMC traveling trophy as well as the top cash prize. Teams will present for 10 minutes to our all-star judging panel with up to 8 minutes of Q&A. Attendees will have a chance to network with one another after the final event is over.
Utah Valley Convention Center Third Floor
Provo Marriott Hotel and Conference Center First Floor
SPEAKERS & PRESENTERS David J Bland is the Founder & CEO of Precoil, an innovation agency in the San Francisco Bay Area. He advises global corporations and Silicon Valley startups on how to find product market fit using lean startup, design thinking and agile. David has pioneered GE FastWorks with Eric Ries, advised emerging product teams at Adobe and even mentored Toyota on lean startup practices. Prior to Precoil, David was a Principal Advisor at Neo and BigVisible, where he created lean startup services. Before his transition into advising, David spent over 10 years of his career at technology startups.
Wo r ks h o p P r e s e n t e r
Aaron Eden is a Co-founder & Chief Operating Officer at Moves the Needle and Co-founder of Startup Tucson. For more than 25 years, Aaron has utilized his passion for innovation, entrepreneurship, and customer empathy to transform countless businesses by teaching them to adopt Lean Innovation, create new value for their customers, and generate hundreds of millions in new revenue. As an Innovation Catalyst at Intuit, Aaron spearheaded a grassroots program that trained over 2,500 employees and leaders in Lean Startup, Agile, and Design Thinking practices. He’s continued that work with some of the world’s most innovative companies, including American Family Insurance, General Electric, and ING, guiding them to move faster, be bolder, and drive impact.
Aaron Eden Lunch Speaker
Wo r ks h o p P r e s e n t e r
Ash Maurya is the author of two bestselling books “Running Lean” and “Scaling Lean”, and is also the creator of the highly popular one-page business modeling tool “Lean Canvas”. Ash is praised for offering some of the best and most practical advice for entrepreneurs and intrapreneurs all over the world. Driven by the search for better and faster ways for building successful products, Ash has developed a systematic methodology for raising the odds of success built upon Lean Startup, Customer Development, and Bootstrapping techniques. Ash is also a leading business blogger and his posts and advice have been featured in Inc. Magazine, Forbes, and Fortune. He regularly hosts sold out workshops around the world and serves as a mentor to several accelerators including TechStars, MaRS, Capital Factory, and guest lecturers at several universities including MIT, Harvard, and UT Austin. Ash serves on the advisory board of a number of startups, and has consulted to new and established companies. Ash lives in Austin, TX.
SPEAKERS & PRESENTERS Chelsea Sloan Carroll is the President and co-founder of Uptown Cheapskate (R), a resale clothing store franchise with 68 locations across the United States. While still in college, she was recognized as the Entrepreneurs’ Organization’s 2012 Global Student Entrepreneur of the Year, as a Forbes 30 under 30, and one of Inc. Magazine’s 30 under 30. Chelsea has been an advocate of student entrepreneurship and has twice served as a US delegate to the G20 Young Entrepreneur’s Alliance in Instanbul and Moscow. She’s currently exploring other franchise concepts to develop. Chelsea is married with two great kids. She loves wakeboarding, skiing, and Utah’s national parks.
Chelsea Carroll Dinner Speaker
Ryan Smith co-founded Qualtrics in 2002 with the goal of making sophisticated research simple. As CEO, he has grown the company from a basement startup to one of the fastest-growing technology companies in the world. Qualtrics has received $400M in investment from Accel Partners, Sequoia Capital, and Insight Venture Partners. Ryan was named to Fortune’s 2016 40 Under 40, a list of the most powerful, influential, and successful young people in business, and was listed as one of Forbes’ “America’s Most Promising CEOs Under 35” in 2013. He is a frequent contributor to Fortune Magazine and has been featured in Forbes, Harvard Business Review, The Wall Street Journal, Fast Company, Inc., The New York Times, TechCrunch and USA Today, and has appeared on CNBC, Bloomberg TV and FOX Business. Ryan is a graduate of Brigham Young University and is a frequent guest lecturer at Brigham Young University’s Marriott School of Business and Stanford University’s Graduate School of Business.
COMPETING TEAMS PRIZES
Competing Teams Alban
Shogjur-Recycling for Happiness
Fresh Stamp, Inc.
STEM Library Lab
The Local Food Experiment
Tried & True Technology
Monterrey Institute of Technology
Alban is a company focused on combating the sedentary lifestyle of children. We give tools to parents to help them motivate their children to do more physical activity. We do this through providing different rewards to children, instilling values that only sports can give them, helping children start with small goals, and helping directly impact childrenâ&#x20AC;&#x2122;s health in a positive way.
Johns Hopkins University
Restricted nasal breathing is one of the most common complaints to ENTs (Ear, Nose, and Throat specialists) and is often indicative of nasal obstruction, an anatomical limitation to airflow caused by a deviated septum or narrow nasal passage. This condition presents a constant bother and source of embarrassment, leads to snoring and difficulty sleeping, and even places a limit on athletic endurance. AssistENT is developing N-Stent, the first nasal dilator designed for daily wear. Much like a contact lens, N-Stent is inserted and removed daily, works immediately, and is invisible to others during use. Our product has potential to improve the quality of life for over twenty million nasal obstruction sufferers who currently forgo treatment due to the high cost, extensive recovery, and uncertain outcome of nasal reconstruction surgery. These individuals insist N-Stentâ&#x20AC;&#x2122;s comfort, inconspicuousness, and convenience make it the ideal tool to aid their nasal breathing throughout the day.
BayWatch Technologies Brigham Young University
BayWatch Technologies is the premier platform for vehicle condition documentation for the auto industry. Our platform is made up of both custom hardware as well as proprietary software, allowing our customers to easily document the exterior condition of each vehicle and prevent fraudulent damage claims.
Beasc Technology Northern Caribbean University
BEASC Technologies is an agro-technology start-up company that seeks to solve agricultural challenges in developing countries through the use of technology to create better efficacy and ethical standards in agricultural practices. Globally farmers have been severely affected by the Beet armyworm. Through customer discovery, we have developed an integrated technology to assist farmers to better manage the Beet armyworm infestation in their farms.
Brigham Young University
At Early Intervention Robotics, we create educational software and an educational platform for children to learn through robots. Specifically, our early adopters are parents with children on the autism spectrum. Our target customers are parents of children with intellectual disabilities totaling a 1.2 Billion dollar SAM. It costs us today $200 to build our robot and we sell it for $400 with a $20 monthly subscription. Our customer lifetime value is close to $3,000. We have functioning robots that we’re testing with kids. Because of the nature of our product, it’s open platform, which means any developer can build an app for our robot and we’re excited to enter homes come this Christmas.
American University of Phnom Penh
Eco-Plastic is a social enterprise aiming to transform landfills into roadfills by adding plastic waste into the conventional asphalt concrete process. This process yields roads that are stronger with a longer lifespan, and a cheaper alternative in terms of price for the end consumer. We have a strong mission and commitment toward solving the plastic waste problem in our country.
ECO-Structured Limited University of the West Indies
ECO-Structures Limited was conceived as a response to the solid waste crisis that has been facing Jamaica. With a vision to repurpose plastic waste through integrating it into viable and safe construction material, ECO-Structures would not only aid in alleviating plastic waste but also advance the country’s infrastructure development goals. This would be achieved through its launch product dubbed ˜ECO-Aggregate” which is a unique mixture that consists of, among other things, repurposed plastic waste that has been transformed into an environmentally friendly and safe building aggregate for use in concrete outputs. Our goal to support the environment will have to be achieved whilst simultaneously striving to become a competitive and successful company.
University of Sao Paulo and Getulio Vargas Foundation
We were born of a common ambition: build great technological contributions to Brazil. We are the innovators and our goal is to be the future of connectivity to Brazil and to the world, through creating the best experience for mobile phone users. Fluke is a mobile virtual network operator project. Our goal is to provide a new mobile experience for Brazilians focusing on personalization, transparency and good service through digital solutions.
Fresh Stamp Inc. Brigham Young University
The Fresh Stamp is an expiration date barcode add-on that allows inventory systems to track batches on grocery products. With the add-on, stores can identify what batch each item is from as the item stands out at the point-ofsale system. When items are about to expire, inventory systems can alert store personnel so they can discount or donate that batch as it gets closer to expiration. We help mitigate the $141,000 of expired food that mid-sized grocery stores throw away each year.
GnomikX BITS Pilani
We are GnomikX, a healthcare based startup born in BITS Pilani. We are a team of young and innovative entrepreneurs trying to bring the power of personal genomics to the common Indian. We use SNP based open array technology to detect lifestyle disorders. We selected a set of markers, specific to the Indian population, to screen diseases like diabetes, obesity and hypertension. The genetic profiling and genetic counselling duo offered by us will provide lifestyle guidance towards a healthier life.
John Brown University
infoMate wants to revolutionize the auto telematics industry by offering a low cost product, specifically an OBD II reader, that pairs with an app, plugs into the OBD II port in consumerâ&#x20AC;&#x2122;s dashboards and collects vehicle data, and automatically sends EMS dispatchers relevant crash data in the event of a car accident. Unlike competitors, infoMate charges a one-time, upfront fee instead of subscription fees and/or hidden additional fees. infoMate also sends crash data directly from crash scenes to dispatchers without using a call center as a middleman, saving critical time for EMS personnel and passengers involved in the crash. The information sent by infoMate will better equip EMS personnel to respond efficiently once they arrive at crash scenes, which will ultimately provide peace of mind to the consumer.
Brigham Young University
At Khione, we advocate for an outdoor experience that is simple, easy, spontaneous, and social. Our sole mission is to break down the barriers, eliminate the unknowns, simplify the process, and get people, all people, outside. Our flagship product, the Shel, does just that. This uniquely engineered hammock shelter keeps you warm, dry, and bug-free throughout the night. Itâ&#x20AC;&#x2122;s simple 2-point suspension system is simple to use and functions with any standard camping hammock. The Shel packs down smaller than a traditional sleeping bag and weighs less. Khione will get you outside with less gear and less hassle, guaranteed.
University of Brawijaya
Did you know that most farmers are removing themselves from agriculture? Over the past years, farmers claim that the farming activities havenâ&#x20AC;&#x2122;t been able to provide them fit income and the lack of knowledge causes them to resort to a non-sustainable price offering. Most people are unaware of what is happening in farming atmosphere. Helping consumers and producers tell their stories is an important role for a market organization. We pride ourselves in developing an app to help farmers find their potential buyers and gain higher income. We have one goal: boost farming activities by providing suggestions for buyers and projection of profits to the farmers. We also train the farmers so that farming skills can escalate quickly. Our team boasts highly driven specialization, led by experienced and respected professionals to bring together diverse ideas with a range of skill sets.
Institute of Chemical Technology, Mumbai
NanoPearl is a water purification solution, made up of organic & inorganic hybrid material metal organic frameworks (MOFs) embedded with silver nanoparticles which is developed indigenously at our lab. NanoPearl effectively removes pathogens, heavy metals (As, Cd, Ni, Pb, Co, etc have direct or indirect impact on public health) and TDS. Also, this meets the accepted levels of BIS 10500; 2012 which make water safer and drinkable. NanoPearl is committed to fixing the water problem.
Pontifical Catholic University of Chile
Pressure garment therapy is a prevention and treatment of scarring after burn injury by applying pressure over the burns with specific garments and orthoses. It takes approximately two years and is exhausting. Just as several medical procedures, this therapy is very subjective as it is based purely on the specialist experience. Therefore, unintentional mistakes are made, which elongate the therapy unnecessarily. To objectify the involved measurements, we have developed the Pressurescope, a system capable of knowing the exact applied pressure with special piezoresistive sensors. It is placed between the scar and the garment and the information is sent to a mobile app in real time. It can potentially shorten the length of the therapy by 50%, thus reducing the emotional damage the patient has to go through.
PlantBox is designing and manufacturing modern planters which automatically inject nutrition and water to keep indoor plants healthy and vibrant. Founded in 2017 by 4 business and chemistry students PlantBox’s mission is to bring nature back into our homes and workplaces to improve air quality, quality of life, and productivity. We’re currently beta testing our first line of customizable, 3D printed planters while further developing our technology.
University of Tsukuba
PLIMES Inc, established by a group of current and former members of the Artificial Intelligence Laboratory of the University of Tsukuba, focuses on the transferring of fundamental technologies developed in academia to the society. The company is engaged in the design, development, manufacturing and consulting of medical, welfare, communication and entertainment technologies. The products and services from PLIMES serve all age groups from infants to elderly with diverse physical, social and cognitive abilities. Consisting of a multidisciplinary team, PLIMES focuses not on replacing people but on empowering and enhancing the unfulfilled latent human capabilities.
Northern Caribbean University
Pneulyfe originated through Monique Brown-Johnson’s (founder) experience with pneumonia. Her experience was characterized by excruciating pain and medications that were ineffective and caused adverse sides effects which she did not want anyone else to encounter. The product is a natural tonic that counteracts the major triggers of pneumonia which include bronchitis, influenza, and asthma. Microbiological experiments conducted on various plants used as the main ingredients proved to be very effective against various microbes that cause pneumonia. This product seeks to not only treat but to prevent the reoccurrence of the symptoms associated with these respiratory illnesses. We believe in holistic health, and with the right attitude we will be able to share this with others through our product. We are Pneulyfe, Where Breathing Comes Naturally.
Portal Entryways Brigham Young University
Portal Entryways has created a system which enables facilities managers to provide effortless hands-free entry and exit to public buildings. We install a small retrofitted device to the existing motorized door and allow anyone with a mobile disability to simply download our app and let it run in the background to have the doors open hands free on approach.
The University of the West Indies
Market and legal validation are incredibly important when making strategic and critical business decisions. Queritel is a research management platform that facilitates peer to peer information exchange to innovate the collection and analysis of market data and legal information for entrepreneurs and SMBs.
University of Waterloo
SheLeads enables female focused organizations to collect, analyze, and share data so girls can reach their full potential. Our web-based platform uses gamified skill assessment and powerful data analytics to allow organizations to produce gender insights around girls ages 6-16. We compare the insights produced with other organizational results and open data sources to generate powerful insights that reflect the young female demographic. These valuable insights are shared with vetted organizations, companies, and researchers.
Shogjur-Recycling for Happiness Royal Thimphu College
Shog Jur is introducing a new business idea to Bhutanese tourists and citizens alike: turning waste paper into commercially valuable jewelry, ornaments, and souvenirs. We have learned how to make necklaces, earrings, bracelets, miniature temples, and other objects from used paper. We recruit and train women from economically disadvantaged backgrounds to give them a source of income, independence, and self-worth. Tourists are delighted with our jewelry and souvenirs, which are light, attractive, durable, and are made in Bhutan, unlike the majority of items found in local handicraft shops. We also appeal to Bhutanese natives because our products are priced at a fraction of the cost of similar looking items in the market. Recycling can be profitable as well as socially beneficial!
The University of the West Indies
SKOLASTIK OASIS CARIBBEAN (SOC) seeks to address inequalities in tertiary education financing, with a three-pronged approach: building awareness, engaging access and providing scholarship application support. Global trends indicate that government subsidies on Tertiary Education are declining, which means that student contributions will likely increase. In the same breath, many scholarships go unclaimed every year due to a lack of applicants. Our company aims to bridge the gap between students and tertiary education financing, through seminars, coaching and one-on-one consultations. To date, our company has secured just over JA$17 million in scholarships, fellowships and grants, and has coached over 200 clients in scholarship preparation techniques. Importantly, we desire to develop a fully digitized Scholarship Database Management System that collects, stores, analyzes and disseminates information on global funding opportunities for students ages 15 - 44 years.
Smart Staffing Michigan State University
Smart Staffing software was designed with private duty home health care companies for private duty home healthcare companies. We offer an easy to use, map-based software that makes scheduling more efficient and optimizes the match between caregiver and client. We can save owners $45,000-$90,000 a year in direct overhead while maximizing revenue, minimizing scheduling errors, and improving caregiver retention and customer satisfaction.
University of Wisconsin-River Falls
Our company is called Songen. Its a Japanese word that stands for dignity. What our company has done is create a new and improved adult brief (diaper). The current adult briefs in the market today have issues with leakage, ease of use, and are big and bulky which make them embarrassing for the user to wear. Songenâ&#x20AC;&#x2122;s product addresses all of these issues. We are addressing the leakage and making it more water retentive. We have found a way to have make the brief less bulky, fit like underwear, and easier to put on and off. With Songen, wearers can maintain their dignity.
San Diego State University
Our mission is to reduce food waste. We are bridging a gap within our food system, using ingredients that are often forgotten to make delicious cookies. We partner with local juice bars to bake their pulp that they get as a by-product of juicing into the cookies. We also make our own flour by rescuing, dehydrating, grinding, and baking the excess grains from large volume restaurants into the cookies. Every cookie is vegan, gluten free, contains no artificial sweeteners, and equates to one pound of food that is saved from otherwise being disposed of. We all want a cleaner planet. We are simply giving our customers a chance to do just that, while eating cookies.
University of Iowa
Speeko is a mobile app that helps you measure and improve your verbal communication. Speeko leverages automated voice analytics to provide data-driven feedback and identify areas for improvement.
STEM Library Lab Tulane University
STEM Library Lab is a professional resource center for teachers in New Orleans. Our mission is to bolster educational opportunities in New Orleans by increasing access to state of the art lab equipment, critical training, and hands-on lesson plans. SLLâ&#x20AC;&#x2122;s nonprofit equipment-share library will create hands-on inquiry-based learning opportunities for students, which is demonstrated to improve educational outcomes and improve engagement. Through our work, we aim to close the STEM opportunity gap for public school students in our community, thereby empowering all children to discover their passion for science and pursue brighter futures.
University of Waterloo
Businesses must use a reliable and competitive solution to support their hiring growth or they will go out of business. Recruitment software have long been used as a standalone solution separate from email and other tools making it difficult for businesses to hire efficiently and productively. We found a way to bridge the gap. Tabnex is an AI-powered suite of recruitment products and data APIs designed to integrate intelligence, automation and scalability into your businessâ&#x20AC;&#x2122; recruitment stack at a fraction of the cost of replacement.
The Local Food Experiment University of Wisconsin-Green Bay
The Local Food Experiment maximizes the convenience and affordability of eating highly nourishing foods made from ingredients grown on eco-friendly, chemical-free, local farms. The aim is to create a new food system to eradicate the global epidemic of food related chronic disease, eliminate agricultural water pollution, and build thriving local food economies in every community.
Tried & True Technology Quinnipiac University
Tried & True Technology’s goal is to improve efficiency in assisted living communities and hospitals to save lives and reduce alert fatigue. Our application will alert medical staff when heart arrhythmias are detected in patients. Medical staff will be able to quickly check the alert without breaking the sterile field, improve response times, and decrease alert fatigue. The application will be able to alert the medical staff when a patient’s heart rhythm is out of normal range. We plan on using wearable devices, like smartwatches, to implement the application. A smartwatch application allows the nurse to respond quickly to the alert without having to stop what they are doing to take out their phone. This will help decrease the response times where seconds count.
Antenor Orrego Private University
UKU, a platform that provides content for child development and early learning. Our first product is the UKUBox, an educational activity box, part of an integral model that uses learning paths based on STEAM methodology to help children develop different skills. Parents can track and monitor their child’s learning process as the child enjoys an incredible learning experience that utilizes their physical and digital environment. Children are motivated to complete all gamified learning activities as they earn badges and rewards.
John Brown University
UniRider was envisioned by Alexander Paniagua as he encountered many problems with public transportation while traveling internationally. Anna joined after experiencing similar frustrations while studying abroad in Australia. The UniRider App is the perfect solution to traveling. Skip the ticket lines and know exactly where your bus, train, or taxi is in any city. With UniRider, you’ll never get lost in a new city, miss your bus, or get off at the wrong stop.
VerdiLife LLC The University of Iowa
We strive to make the Earth a healthier planet by replacing harmful chemicals in agriculture with all-natural solutions. We produce â&#x20AC;&#x153;Wood Vinegarâ&#x20AC;?, a 100% organic fertilizer and pesticide, from wood waste via a unique environmentally-friendly technology with no emission and zero pollution.
University of New Brunswick
Vertiball is producing a line of products that will fundamentally change the industry for personal muscle care through its unparalleled effectiveness, ease of use, and accessibility. The patent pending technology utilizes modified industrial suction cups to mount onto walls and other flat surfaces allowing the user to mount it at specific heights in accordance with where their pain is while giving them the freedom to apply as much (or as little) pressure as they feel necessary.
Monterrey Institute of Technology
Zito promotes the integration of immigrants and refugees in Mexico by using agro-industrial waste to produce domestic processes, enabling them to generate products that can be sold in their local community. This can be done in more than 100 shelters across Mexico, thus empowering the already existing institutions by transforming them in sustainable shelters.
2018 Judging Criteria Each round of the International Business Model Competition is judged using the following questions:
•Did the team use a canvas to identify and track hypotheses? •Did the team clearly state their hypotheses? •Did the team identify the most crucial hypotheses to test first (the ones that could kill their business)?
•Did the team design low cost, rapid, but reliable tests of these hypotheses? •Did the team conduct the tests in a reliable manner? Number of tests - should be adjusted for industry, product type (web vs physical product), and business type (B2B vs B2C) Quality of tests - interviews are high quality, surveys &amp; focus groups are much lower quality (you don’t know which questions to ask) unless interviews have been conducted first •If appropriate, has the team developed a prototype or minimum viable product (MVP)? Does the team understand the hypotheses they are testing with a prototype or MVP? Is the prototype or MVP appropriate to answer those hypotheses? (We want to reward the testing of hypotheses using prototypes verses the building of products using untested hypotheses.)
•Did the team clearly state their insights and learning, how those validated or invalidated a hypothesis, and if that informed any pivots (changes)? •If changes were made, was the pivot the team made supported by evidence or did they fail to pivot when the evidence clearly stated it? •Does the team have significant evidence that the solution is validated (i.e., letters of intent, purchase contracts, sales, partners, etc.)?
•Is the team solving a significant problem (defined in terms of money or impact)? NOTE: Because web-based businesses are easier to test, these companies can often pivot faster. Judges are asked to not penalize physical product companies or health-related businesses because they have not pivoted as much or made as many iterations as webbased businesses.
2018 Final Judges Aaron Eden is a Co-founder & Chief Operating Officer at Moves the Needle and Co-founder of Startup Tucson. For more than 25 years, Aaron has utilized his passion for innovation, entrepreneurship, and customer empathy to transform countless businesses by teaching them to adopt Lean Innovation, create new value for their customers, and generate hundreds of millions in new revenue. As an Innovation Catalyst at Intuit, Aaron spearheaded a grassroots program that trained over 2,500 employees and leaders in Lean Startup, Agile, and Design Thinking practices. He’s continued that work with some of the world’s most innovative companies, including American Family Insurance, General Electric, and ING, guiding them to move faster, be bolder, and drive impact.
Aaron Eden Ash Maurya is the author of two bestselling books “Running Lean” and “Scaling Lean”, and is also the creator of the highly popular one-page business modeling tool “Lean Canvas”. Ash is praised for offering some of the best and most practical advice for entrepreneurs and intrapreneurs all over the world. Driven by the search for better and faster ways for building successful products, Ash has developed a systematic methodology for raising the odds of success built upon Lean Startup, Customer Development, and Bootstrapping techniques. Ash is also a leading business blogger and his posts and advice have been featured in Inc. Magazine, Forbes, and Fortune. He regularly hosts sold out workshops around the world and serves as a mentor to several accelerators including TechStars, MaRS, Capital Factory, and guest lecturers at several universities including MIT, Harvard, and UT Austin. Ash serves on the advisory board of a number of startups, and has consulted to new and established companies. Ash lives in Austin, TX.
Ash Maurya David J Bland is the Founder & CEO of Precoil, an innovation agency in the San Francisco Bay Area. He advises global corporations and Silicon Valley startups on how to find product market fit using lean startup, design thinking and agile. David has pioneered GE FastWorks with Eric Ries, advised emerging product teams at Adobe and even mentored Toyota on lean startup practices. Prior to Precoil, David was a Principal Advisor at Neo and BigVisible, where he created lean startup services. Before his transition into advising, David spent over 10 years of his career at technology startups.
David Bland 2018 IBMC
HOW TO WIN
What Winning Teams Do The purpose of the International Business Model Competition is to reward the process student entrepreneurs follow to eliminate uncertainty in their businesses. We encourage smart entrepreneurs that identify and test key business hypotheses, seek input from potential customers, and make necessary changes based on what is learned. Remember, this is not a business plan or venture pitch competition!
Tell us your story.
If you watch any past winner present, you will see that they start by connecting to the audience through a compelling, but truthful story about their business. In your story, describe the pain you uncovered and how you plan to solve it.
Use a canvas.
Start with a blank canvas and step-by-step show your hypotheses, how you tested them, and the results. Demonstrate visually which hypotheses were validated and which were not. Donâ&#x20AC;&#x2122;t throw all your information on the canvas at once, walk the judges through your validation in digestible portions.
Describe the validation.
Each hypothesis you make has to be accompanied with a test or an activity that aims to prove or disprove your hypotheses. Zoom in close on of your tests and explain the hard work you did. We want you to justify your decision-making and the course of your business with real data from credible sources.
Highlight the lessons learned.
Each test has to lead to the lessons learned and future plan of action. Show what each test taught you, what was validated, what wasnâ&#x20AC;&#x2122;t, and what hypotheses and test you made next.
Explain your pivots.
Most of you had to pivot or change a portion of your business in response to customer feedback. We want you to justify your pivots with concrete data. Just saying that you made a pivot is not enough. Realizing that your hypothesis is inaccurate is not a weakness, but evidence that you learned something.
In conclusion, judges want to see multiple rounds of hypotheses and tests. One or two tests is not enough to show that you thoroughly researched your business idea. It is not possible to walk through the entire canvas in 10 minutes, so focus on the hypotheses and tests that are crucial to your business.
Around the World
2018 IBMC Qualifier Competitions
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Brigham Young University Michigan State University Quinnipiac University San Diego State University Tulane University University of Iowa University of Mississippi University of Wisconsin-Extension
Alta Experiential Learning (Peru) Brawijaya University (ASEAN) Dalhousie University (Canada) Ideation Brasil (Brazil) IIT Kharagpur (India) National Business Model Competition (Jamaica) Jump Chile (Chile) Mekong Challenge (Southeast Asia) Monterrey Institute of Technology (Mexico) Waseda University (Japan)