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HARVARD UNIVERSITY

BRIGHAM YOUNG UNIVERSITY

STANFORD UNIVERSITY

2014 COMPETITION BOOKLET

FIRST AND LARGEST INTERNATIONAL BUSINESS MODEL COMPETITION


2,418 Teams 209 Schools

2011-2014

18 Countries $755,600 Awarded

1,383 Teams 143 Schools 10 Countries $357,000 Awarded

59 Teams 45 Teams

7 Schools 1 Country

ENGLAND, USA

USA

Bangladesh, Cambodia, Canada, Chile, England, Laos, Myanmar, Thailand, USA, Vietnam

2011

2012

2013

6 Schools 2 Countries

IBMC STATISTICS

Bangladesh, Cambodia, Canada, Chile, China, England, Finland, France, Indonesia, Japan, Laos, Mexico, Myanmar, Switzerland, Tanzania, Thailand, USA, Vietnam.

2014


I F YOU H AV E ANY QUESTION REGARDING TH E COM PETI TION, PLEASE C ONTACT ONE OF TH E FO LLO WING IBMC ADMINISTRATORS.

Jeff Brow n Managing Director j eff.brow n@by u.edu 801.367.3936

Ry an Dav is 2 0 14 Student Director r yancraigdav is@gmail.com 208.406.3068

Pav el Yurev ich 2 0 15 Student Director p avel .y urev ich1@gmail.com 801.505.0724


FOUNDER’S MESSAGE F o u r years ago we creat ed t he Int er nat i onal Busi ness M o d e l C omp et i t i on t o t each and reward st ud ent s ab out a b e t t e r way t o b e an ent rep reneur. Drawi ng on i d eas f rom C u s t o m er Devel op ment , Lean S t art up , Desi gn Thi nk i ng, a n d ot her p arad i gms we emp hasi z ed t he cent ral i t y of t e s t i n g your assump t i ons wi t h cust omers rat her t han sel li n g h ot ai r b usi ness p l ans. To d a y t he comp et i t i on has at t ract ed over 2000 t eams f rom o v e r 2 00 uni versi t i es around t he worl d . We ad d ed nat i onal c o m p et i t i ons i n C anad a, Fi nl and , France, J amai ca, J a p a n , and Mex i co. We al so had many new uni versi t i es j o i n t h e comp et i t i on, send i ng t he b est of t hei r b est t o j oi n u s . T h ese new f ri end s j oi n our ex i st i ng f ri end s and p artne r s i n w h a t h a s t ru l y b e c o m e a gl ob al revol ut i on. We h o p e t o c o n t i n u e t h e t ra n sf ormat i on of how we t each ent rep reneurshi p . Last y e a r w e t o o k t h e c o m p e t i t i o n t o H arvard Busi ness S chool . Thi s year, we ret ur n t o o u r h o m e t u rf , B ri g h a m Young U ni versi t y, ad d i ng more cont ent , sp eak ers, a nd t ra i n i n g t o s u p p o rt o u r goal of al l l ear ni ng t oget her how t o b ecome great e nt re p re n e u rs . N e x t y e a r w e h op e t o hol d t he comp et i t i on at S t anf ord U ni versi t y. R e g a rd l e s s o f t h e l o c a t i o n , we hop e t hat we can al l work t oget her t o d evel op t his n e w s c i e n c e o f e n t re p re n eurshi p and t oget her mak e t he worl d a b et t er p l ace t hro u g h v a l i d a t e d i n n o v a t i o n .

NAT H AN FUR R

F o un d e r Int e r n a t i o n a l B u s i n e s s M o d e l C omp et i t i on

2


CONTENTS

2 0 1 4 i n t e r n at i o n a l b u s i n e s s m o d e l c o m p e t i t i o n

5

COMPE TITION INFO

13

COMPE TING TE AMS

27

J UDGING

31

HISTORY


COMPETITION INFO 2 0 1 4 i n t e r n at i o n a l b u s i n e s s m o d e l c o m p e t i t i o n

S CHE DULE MAPS PR IZ E S

2014 I N T ERN AT I O N A L BUSI N ESS MO D EL CO MP E TITION I 5


SCHEDU L E T HU RS D AY, M AY 1 , 2 0 1 4

ta n n e r b u i l d i n g , b y u c a m p u s

11: 00- 12: 00 P M Tr a ns po r t a t i o n f ro m M a rri o t t H o t e l t o B ri gham Young U ni versi t y A s hut t le s e rv i c e w i l l t ra n s p o rt t e a m s f rom t he Marri ot t H ot el t o Bri gham Young U ni versity c a m pus , t h e l o c a t i o n f o r t h e f i rs t d ay. 12: 00- 12: 30 P M Re g is t r a t io n a n d C h e c k - I n | 1 st F l o o r A t ri um Te a m s wi l l re c e i v e a n a m e b a d g e , comp et i t i on b ook l et , and p ack et of p ert i nent comp et i tion info r ma t io n . 12: 30- 1: 15PM Ne t wo r king L u n c h | O p e n A t ri u m A re a Te a m s wi l l h a v e t h e o p p o rt u n i t y t o net work wi t h one anot her whi l e t hey enj oy a d el i ci ous lunc h o f l o c a l f a v o ri t e f o o d s . 1: 15- 2: 00P M Or ie nt a t io n & P a s t W i n n e r P re s e n t a t i on | Room 251 Te a m s wi l l b e b ri e f o n t h e p re s e n t a ti on f eed b ack sessi on and hear f rom a memb er of one of la s t y e a r ’s w i n n i n g t e a m s w h o w i l l p resent ab out hi s ex p eri ence and share val uab l e i nsi ghts a bo ut wh a t t e a m s s h o u l d b e f o c u s i n g on. 2: 00- 5: 00P M P re s e nt a t io n F e e d b a c k S e s s i o n s | S e e S heet i n Fol d er Te a m s wil l b e a s s i g n e d a ro o m t o work on t hei r p resent at i ons. Duri ng t he t hree hour b l ock, t wo diffe re n t m e n t o rs w i l l v i s i t e a c h t eam t o p rovi d e val uab l e f eed b ack on t he t eam’s pre s e nt a t io n . I t i s o u r h o p e t h a t t e a m s wi l l use t he t i me b et ween and af t er ment ors t o d i gest t he m e nt or’s f e e d b a c k a n d i n c o rp o rat e any ap p l i cab l e changes. 5: 00- 6: 00P M Bre a k 6: 00- 8: 00P M We lc o me D i n n e r | R o o m W 4 0 8 /W 4 1 0 Te a m s wil l h a v e t h e o p p o rt u n i t y t o net work , l i st en t o a sp eci al guest sp eak er, and b e ori ent e d o n t he n e x t d a y ’s a c t i v i t i e s ; i n p art i cul ar t he semi - f i nal round j ud gi ng. 8: 00- 9: 00P M Tr a ns po r t a t i o n f ro m B ri g h a m Yo u n g U n i versi t y t o Marri ot t H ot el A s hut t le s e rv i c e w i l l t ra n s p o rt t e a ms f rom Bri gham Young U ni versi t y camp us b ack t o the M a r r io t t H o t e l .

6


S C HE D U LE F RI DAY, M AY 2 , 2 0 1 4

u ta h va l l e y c o n v e n t i o n c e n t e r

8: 00- 9: 00 AM Bre a kf a s t ( o n y o u r o w n ) Te a m s w i l l e a t b re a k f a s t o n t h e i r own (t he hot el off ers a f ree cont i nent al b reak f ast ) while the s e m i-f i n a l ro u n d j u d g e s re c e i v e ori ent at i on. 9: 00- 12: 0 0 P M S e m i-F inal R o u n d J u d g i n g | C a s c a d e Rooms (3 rd Fl oor) Te a m s w i l l b e d i v i d e d i n t o 5 ro o m s (8 t eams p er room) and wi l l p resent f or 10 mi nut es to a pa ne l of j u d g e s . Te a m s w i l l b e a b l e t o wat ch each ot her’s p resent at i ons. 12: 00- 1: 3 0 P M Lunc h (o n y o u r o w n ) T he M arri o t t H o t e l i s l o c a t e d i n t h e heart of d ownt own P rovo wi t h a numb er of great restau r a nt s w i t h i n s h o rt w a l k i n g d i s t a n ce. 1: 30- 5: 30 P M F ie ld Tr ip | Q u a l t ri c s & A n c e s t ry O ff i ces, P rovo, U t ah Te a m s w i l l v i s i t a f e w c o m p a n i e s i n t he heart of “S i l i con S l op es.” S pe c ia l S p e a k e r S e s s i o n s | C a s c a d e Room E (3 rd Fl oor) Te a m s w i l l l e a r n v a l u a b l e l e s s o n s ab out ent rep reneurshi p and l ean st art up p ri nci p l es from t wo s p e c i a l g u e s t s p e a k e rs . 5: 30- 6: 00 P M Bre a k 6: 00- 8: 00 P M S e m i-F inal R e s u l t s Di n n e r | C a s c a d e Rooms A - D (3 rd Fl oor) Te a m s w i l l h a v e t h e o p p o rt u n i t y t o net work , l i st en t o a sp eci al guest sp eak er, and f i n d out whic h t e a m s w i l l b e m o v i n g o n t o t he f i nal s. 8: 00- 11: 0 0 P M F ina lis t Te a m M e n t o ri n g | C re e k R o oms (3 rd Fl oor) F ina lis t t e a m s w i l l b e a s s i g n e d a room where t hey can mak e f i nal changes t o t hei r p resentation. M e nt o r s w i l l b e a v a i l a b l e t o p ro v i d e val uab l e f eed b ack t o each t eam.

SAT U R D AY, M AY 3 , 2 0 1 4

u ta h va l l e y c o n v e n t i o n c e n t e r

9: 00- 10: 0 0 AM Bre a kf a s t ( o n y o u r o w n ) Te a m s w i l l e a t b re a k f a s t o n t h e i r own (t he hot el off ers a f ree cont i nent al b reak f ast ) while the fina l ro u n d j u d g e s re c e i v e o ri e n t at i on. 10: 00- 12:0 0 P M F ina l E v en t | B a l l ro o m C ( 2 n d F l o o r) T he t o p f o u r t e a m s w i l l c o m p e t e f or t he $25,000 f i rst p l ace cash p ri z e and t i t l e of “Global Cha m p i o n .” 12: 00- 2: 0 0 P M V IP Ne t w o rk i n g R e c e p t i o n | N o rt h Pref unct i on A rea (2 nd f l oor) A ll t e am s , m e n t o rs , j u d g e s , s c hool rep s, sp onsors, and sp eci al guest s are i nvi t ed to a po s t -fin a l s n e t w o rk i n g re c e p t i o n . Lunch wi l l b e p rovi d ed . 2014 I N T ERN AT I O N A L BUSI N ESS MO D EL CO MP E TITION I 7


MA PS— P R O VO C I T Y

Brigham Young University Tanner Building

Marriott Hotel

8


MA PS—TAN N E R B U I LD I N G

1 s t flo o r

2 n d flo o r

3 rd flo o r

4 t h flo o r

2014 I N T ERN AT I O N A L BUSI N ESS MO D EL CO MP E TITION I 9


M A PS —UTAH VAL L E Y C ONV E NTI O N C ENTER

1 s t Fl oor

2 nd Fl oor

3 rd Fl oor

10


PR IZES

Ca s h Aw ar d s 1 S T P L AC E 2 N D P LAC E 3 R D P L AC E 4 T H P LAC E 5 T H - 8 T H P L AC E 9 T H - 4 0 T H P LAC E

$ 2 5 ,0 0 0 $ 1 0 ,0 0 0 $ 7 ,5 0 0 $ 5 ,0 0 0 $ 2 ,0 0 0 $ 1 ,0 0 0

T h e I B M C Tr o p h y D o y o u h a v e w h a t i t t a k e s t o b ri ng t he Int er nat i onal Bus i n e s s M o d e l C o m p e t i t i o n t rop hy t o you school ? T he I B M C t ro p h y t ra v e l s e a c h year t o t he school of t he I B M C c h a m p i o n . C u rre n t l y t he t rop hy resi d es at Br ig h a m Yo u n g U n i v e rs i t y s i n ce l ast year O wl et Bab y M o ni t o rs , a t e a m f ro m B Y U , took f i rst p l ace i n t he c o m p e t i t i o n a t H a rv a rd . T h e 2014 comp et i t i on i s a ne w y e a r a n d a n e w c h a m p i o n wi l l b e crowned . S o br ing y o u r b e s t t o t h i s c o m p e t it i on and you may b ri ng ba c k m o re t h a n j u s t p ri z e m o n ey.

The IBMC Champions 2013

Owlet Baby M o n i t o rs

B ri g h a m Young U ni versi t y

K urt Work man, J ord an Monroe, J acob C ol b i n, Tanor H od ges, Zach Bomst a, A d am Rogers

2012

X o o m P a rk

B ri g h a m Young U ni versi t y

K en Frei

2011

Gamegnat

A m e ri c a n U ni versi t y

Zachay A l l aun, J orge Esp i noz a

2014 I N T ERN AT I O N A L BUSI N ESS MO D EL CO MPE TITION I 11


12


COMPETING TEAMS 2 0 1 4 i n t e r n at i o n a l b u s i n e s s m o d e l c o m p e t i t i o n

Adept Advancements

AutoHome

Bamboo Plaques

Broad Analytics

Catchbox

Caydian

CoP ilot

Dulces Nueces

E-Kaia

easybiodata

Genius Security

Global Ser vice Par tnerships

Gr ypshon

Herboo Enterprise

Hindsight Health Inc.

Horsecom

Insight Engine

Iowa Adaptive Technologies

Kiband

Kricket

LegallyLink

Novo Saddles Systems Inc.

OneWay

Panacea

PowerP itch

Progeneration Energy

Quar ter wear

Righ t Side Health

RunForm

Sparkgig

SpyneTech

Swaddle-Mi-Bili

Teknically

Tympanogen

Veritas Medical, LLC

VeXeRe.com

VolleyMetrics

Wheel-Go-Round

WhiteLight Medical

Woozy

2014 I N T ERN AT I O N A L BUSI N ESS MO D EL CO MPE TITION I 13


CO M P E T I N G T E AM S Ad ep t Ad v a ncemen ts

Rensselaer Polytechnic Institute H a v e y o u e v er l ost cel l - p hone recep t i on i n a t u n n e l , s ub way, or el evat or? That i s b e c a u s e c o n vent i onal wi rel ess t echni q ues d o n o t p a s s t h rough met al wal l s eff ect i vel y. We h a v e d e v el op ed a b reak t hrough t ech no lo g y t h a t w i l l c o n v e y v i t a l i n f ormat i on wi rel essl y t hrough t hic k s o l i d b a rri e rs .

AutoHome

Monterrey Institute of Technology A u t o H ome i s creat i ng an ad ap t er f o r l i ght b ul b s and ot her el ect roni c d e v i c es t hat communi cat es wi t h a us e r’s s m a rt p h o n e a n d e n a b l e s t hem t o moni t or and cont rol t he se d e v i c e s w i re l e s s l y.

B a mb oo Pl a q ue Doshisha University

Bamboo P l aq ue is an i nnovat i ve b u i l d i n g m at eri al comp any off eri ng e n v i ro n m e nt al l y- f ri end l y, b i od egrad ab l e, a nd h e a l t h c o n s c i o u s b u i l d i n g mat eri al s t o red uce noi se le v e l s a n d c o n t ri b u t e t o q u a l i t y of l i f e.

14


C OMPE TI NG TE A M S Broa d An a l y t i c s

Brigham Young University B ro a d A nal yt i cs uses Wi Fi t echnol ogy t o d o i n d o o r t r ack i ng i n museums. The comp any w a s c re a t ed t o ad d ress t he p ai n of al l ocat i ng m i l l i o n s of d ol l ars f or op erat i ons and e x h i b i t creat i on b ased on hunches. Wi t h a s y s t e m i n p l ace, museum d i rect ors and b o a rd s wi l l no l onger need t o mak e d eci si ons b ased on i nt u i t i o n o nl y, b ut on ap p l i cab l e d at a.

Ca t c h b o x

Aalto University

catch

C a t c h b o x mak es t he worl d s f i rst t hrowab l e m i c ro p h one, mak i ng aud i ence i nt eract i on e a s i e r a nd more eff ect i ve. The sof t wi rel ess m i c ro p h one can b e easi l y p assed f rom o n e a u d i ence memb er t o t he nex t , even i n c ro w d e d conf erences. Thi s not onl y mak es a s k i n g q uest i ons f ast er and easi er, b ut al so mak es event s f u n . T h e cust omi z ab l e out er cover al l ows cust omers t o p ro m o t e t hei r own b rand s and sp onsors i n a uni q ue way.

BO

Ca y d i an

Stanford University T h e C a y d i an Dream d el i vers t he f i rs t e v er cure f or sl eep t errors. B a s e d on p ub l i cat i ons i n l ead i ng j o u r n a l s , i ncl ud i ng t he Bri t i sh Medi c a l J o u r nal , i t uses b al l i st ocard i o g ra p h y - b ased sl eep moni t ori ng and a p rop ri et ary sl eep m o d i f i c a ti on syst em t o comp l et el y el i mi nat e t he sl eep t errors.

2014 I N T ERN AT I O N A L BUSI N ESS MO D EL CO MPE TITION I 15


CO M P E T I N G T E AM S C oPi lo t

Brigham Young Univer sity We hel p st ud i os and st art up s p i l o t t hei r i d eas/scenes/ep i sod es v ia w e b v i d e o t o g e t f e e d b a c k and gai n cust omers b ef ore t he y l a u n c h . We s e e C o P i l o t g rowi ng t hrough word - of - mout h m a r k e t i n g c a m p a i g n s w i t h k e y i nf l uencers onl i ne t hat have s ig ni f i c a n t s h a re - o f - v o i c e i n t h e cust omer segment s we are t a rg et i n g , c u s t o m e rs i n v i t i n g f ri end s and connect i ons t o t he platform, and co-content marketing efforts with our partners that c a t er t o t h e s a m e c u s t o m e r s e gment s.

Dul ces Nueces

Monterrey Institute of Technology Du l c e s N u e ces creat es a hand mad e, g o u rm e t , 1 0 0 % nat ural p ecan nut cand y. We u s e u n i q ue, al l organi c p ack agi ng f or a ll of o u r c a n d i e s .

E - Kaia

Pontifical Catholic University of Chile A t E - Ka i a , w hi ch means Eart h energy i n G re e k , w e h a v e creat ed a uni q ue b i ol ogi cal c i rc u i t t h a t channel s energy f rom p l ant s t o g e n e ra t e el ect ri ci t y. We are p assi onat e a b o u t d e v e l o pi ng cl ean and nat ural t echn o l o g i e s t h a t sol ve real - worl d p rob l ems.

16


C OMPE TI NG TE A M S e a s y b i o d at a

Har vard Business School e a s y b i o dat a i s an onl i ne p l at f orm f or Ind i an s i n g l e s a round t he worl d i n search of mari t al c a n d i d a tes. O ur mi ssi on i s t o rei magi ne t h e a rra nged marri age p rocess i n Ind i a b y e v o l v i n g t he sp ousal search p rocess t o g i v e m o re p ower of cont rol and choi ce t o pro s pec t i v e s p o u s e s w h i l e re s p ect i ng t he cul t ure and t rad i t i onal val ues b y k eep i ng fa m ilie s i n v o l v e d .

Ge n i us S e c u r i t y

Brigham Young University T h e G e n i us H ome S ecuri t y syst em off ers re n t e rs , homeowners, and smal l b usi ness o w n e rs an al l - i n- one securi t y p rod uct , i n c l u d i n g f eat ures such as mot i on d et ect i on, cameras, and s i re n s c ont rol l ed b y a smart p hone. U sers can p urchase one o r m u l t i p l e cei l i ng- mount ed cameras t hat sync wi rel essl y t o a b a se st at i on t hat rel ays i mages of i nt rud ers i nst ant l y t o t h e h omeowner. H omeowners t hen cont rol t he resp onse, e l i m i n a t i ng f al se al arms. Furt hermore, Geni us el i mi nat es t he ne e d f o r t ra d i t i o n a l s e c u ri t y, b e c ause i t enab l es users t o moni t or t hei r own home sec ur it y w i t h o u t c a l l c e n t e rs o r c o n tract s. It b l ows away ot her non- cont ract ual securi t y s y s t e m s b y o ff e ri n g d i s c re e t , w i rel ess cameras at hal f t he p ri ce of i t s comp et i t ors. It ’s no t j u s t s e c u ri t y. I t ’s G e n i u s .

Gl obal S e r v i c e P ar t n e r shi p s Boise State University

G l o b a l S ervi ce P art nershi p s p ro v i d e s o pp ort uni t i es f or st ud ent s, e d u c a t o rs, f ami l i es, and p rof es s i o n a l s t o engage i n i nt er nat i onal s e rv i c e i n Bel i z e. The servi ce f ocuses on Engl i sh l anguage d e v e l o p m ent p roj ect s, p art neri ng wi t h Bel i z ean el ement ary s c h o o l s and ed ucat ors.

2014 I N T ERN AT I O N A L BUSI N ESS MO D EL CO MPE TITION I 17


CO M P E T I N G T E AM S Gr y p shon I nd ustr ies

University of Wisconsin-Milwaukee G ry p s h o n I n d ust ri es b el i eves i n max i mi z i ng t h e e ff i c i e n c y, p rod uct i vi t y and saf et y of o u r m e m b e rs i n t he mi l i t ary. Two p rod uct s f ro m o u r l i n e of i nnovat i ve aerosp ace saf et y e q u i p m e n t , t he Gryp shon mat and t he Gr y p s h o n F l e x i b l e To o l Tra y, are saf e, non- corrosi ve, and c o nv e n i e n t s u rf a c e s o n w h i ch mechani cs can st and or pla c e t o o l s . T h i s re d u c e s t h e i nci d ence of f al l i ng f rom t he je t d u ri n g m a i n t e n a n c e a n d p rovi d es a saf eguard agai nst a ny t h i n g b e i n g l e f t i n s i d e t h e j et .

Her b oo E nter p r i se

Northern Caribbean Univer sity H e rb o o E n t erp ri se i s a herb al cosmet i cs c o m p a n y, t h at onl y uses p l ant s t o mak e a ll o u r c o s m e t i c s . We c u rre n t l y have a t wo- i n- one shamp oo a nd c o n d i t i o n e r t h a t h e l p s t o p revent d and ruff mad e f rom J a m a i c a n s o rre l . O u r a i m i s t o mak e al l cosmet i cs H erb al .

Hi nd si ght Hea l th I nc. Dalhousie Univer sity

A t H i nd si ght H eal t h we are sol vi ng t he p ai n associ ate d w i t h m e d i c a l a p p o i n t m e n t w ai t t i mes usi ng an i nnovat i ve re a l- t i m e S M S a p p o i n t m e n t up d at e servi ce. We i nf orm pa t ien t s o n t h e s t a t u s o f t h e i r med i cal ap p oi nt ment s and indic a t e w h e t h e r t h e i r d o c t o r i s runni ng b ehi nd sched ul e. If s o, w e p ro v i d e p a t i e n t s w i t h a revi sed ap p oi nt ment t i me e s t im a t e . H i n d s i g h t H e a l t h g i ves p at i ent s t he f reed om t o m o re e ff e c t i v e l y p l a n t h e i r t i m e around a med i cal ap p oi nt m e nt . T h e s o l u t i o n p ro v i d e d b y H i nd si ght H eal t h can b e e xt e n d e d t o o t h e r i n d u s t ri e s such as d ent i st ry, vet eri nary m e di c i n e , p h y s i o t h e ra p y, a n d m any more.

18


C OMPE TI NG TE A M S Hors e c o m

ESSEC Business School H o rs e c o m, wi rel ess head p hones f or horses a n d ri d e rs. H orsecom i nvent ed a t echnol ogy a n d a n a u t omat ed met hod ol ogy t o i mp rove h o rs e w el l ness and ri d er p erf ormance. We are working with famous scientists and riders t o v a l i d at e and d evel op i t .

I n s i gh t E n g i n e

University of California-Santa Barbara M o c k Tri al i s a comp et i t i on w h e re s t ud ent s (H i gh S chool t h ro u g h Law S chool ) p ract i ce l aw. O ur ap p l i cat i on gi ves s t u d e n t s a comp et i t i ve ad vant age t hrough d at a d ri ven anal y t i c s o n t eam p erf ormance as wel l as resources whi ch i m p ro v e t h ei r ab i l i t y t o p erf orm i n a court room. We wi l l grow in t he f u t u re b y p ro v i d i n g t h i s c o urt room p erf ormance enhanci ng t echnol ogy t o p ro fe s s io n a l a t t o r n e y s .

I owa Ad a p t i v e Te c h n o l o gi es University of Iowa

I o w a A d ap t i ve p rovi d es d evi ces and c o n s u l t i ng servi ces f or caregi vers t o e n a b l e d i sab l ed p at i ent s t o cal l a n d c o m m uni cat e t hei r need s. More t h a n 2 5 years of cl i ni cal research was ut i l i z ed t o creat e t he I o w a S m art S wi t ch, a d evi ce t hat al l ows p at i ent s who are vo c a l l y a n d p hysi cal l y i mp ai red t o cal l a nurse and communic a t e v i a sp eech generat ors and ot her i P ad ap p s. By enhanc i n g p a t i ent - p rovi d er communi cat i on, our sol ut i ons wi l l hel p ho s pit al s a n d n u rs i n g f a c i l i t i e s red uce t he rat e of ad verse med i cal event s, i mp rove e v a lua t i o n m e t ri c s s u c h a s p o s i t i ve med i cal out comes and p at i ent sat i sf act i on, and m o re e a s i l y m e e t h o s p i t a l a c c re di t at i on st and ard s.

2014 I N T ERN AT I O N A L BUSI N ESS MO D EL CO MPE TITION I 19


CO M P E T I N G T E AM S Ki b and

Brigham Young Univer sity K i b a n d i s a c h i l d saf et y wri st b and t hat conn e c t s t o a p a rent ’s smart p hone, and when t h e c h i l d i s t oo f ar away t he wri st b and and t he p h o n e a l e rt . U t i l i z i n g B l u et oot h 4.0 (BLE) t echnol ogy K iban d t ra n s f o rm s a s m a rt p h one i nt o a mob i l e geo- f ence t ha t c a n b e t o g g l e d f o r d i ff e re n t si t uat i ons such as a mal l or a m us e m e n t p a rk , a t c l o s e p ro xi mi t y, or a p l ayground , where g re at e r f re e d o m f o r t h e c h i l d to ex p l ore can b e aff ord ed . It is a n i n t u i t i v e a n d k i d - f ri e n d l y way t o k eep chi l d ren saf e and pa ren t s w o rry f re e .

Kr i cket

Quinnipiac University K ri c k e t i s a n anonymous way t o t ex t your n e i g h b o r “ p l ease q ui et d own”. By i mp l e m e n t i n g t h i s servi ce i n a ci t y or t own, t he b u rd e n o n t h e p ol i ce f or noi se comp l ai nt s w i l l b e re d u c ed . O ur servi ce al l ows nei ghbo r s t o c o n t a c t e a c h o t h e r d i rect l y whi l e st i l l k eep i ng some le v e l o f p ri v a c y. I n t h e f u t u re, K ri ck et wi l l b e a st ap l e of c o lle g e c a m p u s e s a n d a p a rt m ent comp l ex es. Thi s wi l l hel p build a u s e r b a s e f o r o u r c o m pany, and wi l l ul t i mat el y l ead i nt o Rat e and Rent .

L ega l l y L i nk

University of Central Florida We are Legal l yLi nk , an onl i ne d ocument p rep arat i on servi ce g e a re d t o s o l v i n g t h e p a i n o f Y- Generat i on ent rep reneurs. It is o b v i o u s t o s e e t h e t re n d o f t he ent rep reneuri al sp i ri t i n pe o p l e a g e s 1 8 - 3 4 . T h e n e w c ool , hi p t hi ng t o d o i s not b e a D J , o r a c h i l d a c t o r a n y m o re, b ut rat her t o st art your own bus in e s s a n d b e y o u r o w n b o s s. Legal Zoom i s t he monop ol y in t h e m a rk e t ; t h e y c o m p l e t e l y i gnore t he not i on t hat 29% (a nd g ro w i n g ) o f t h i s 2 6 b i l l i o n d ol l ar i nd ust ry i s mad e up of indiv i d u a l s b e t w e e n t h e a g e s of 18- 34. Bei ng more cost c o m p e t i t i v e a n d re s o u rc e f u l than Legal Zoom, al ong wi t h o ffe ri n g a p l a t f o rm w h e re m e mb ers can i nt eract wi t h each ot her and wi t h at t or neys will a l l o w u s t o c a p t u re t h i s h i p d emograp hi c and scal e very q ui ck l y.

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C OMPE TI NG TE A M S Nov o S ad d l e s S y s t e m s University of Windsor

We a re Novo S ad d l es S yst ems Inc. We manufacture personalized b i k e s e a t s t hat f i t t he uni q ue shap e of every ri d er i n ord er t o o p t i m i z e eff i ci ency.

O n e Wa y

Monterrey Institute of Technology O n e Wa y i s creat i ng a mob i l e ap p t hat h e l p s u s ers k now whi ch p art s of a gi ven c i t y a re saf e. O neWay wi l l gi ve p eop l e p e a c e o f mi nd whi l e t hey ex p l ore t he area around t hem.

Panacea

University of Dhaka P a n a c e a i s a mob i l e ap p b ui l t around S MS t e c h n o l ogy t o f i ght t he U S $130 mi l l i on c o u n t e rf ei t med i ci ne i nd ust ry i n Bangl ad e s h . U s i ng our servi ce you can t el l i f t he d ru g s y ou b uy are real or not . We p ri nt ra n d o m uni q ue cod es on every med i ci ne p a c k o f our p art ner p harmaceut i cal s. C ust omers can t hen s e n d u s a req uest t o veri f y t he cod e wri t t en on t he p ack t o d e t e rm i n e i t s aut hent i ci t y.

2014 I N T ERN AT I O N A L BUSI N ESS MO D EL CO MPE TITION I 21


CO M P E T I N G T E AM S Pow er Pi tch

University of Arizona P owerP i t ch d el i vers sup eri or, c o s t - e ff e c t i v e o n l i n e c o m m u n i cat i on t rai ni ng t ool s t o l arge o rg a n i z a t i o n s , u t i l i z i n g a n e n g agi ng 3D p l at f orm. P owerP i t ch e na b l e s o rg a n i z a t i o n s t o i n c re ase t he eff ect i veness of comm uni c a t i o n t ra i n i n g p ro g ra m s t hrough an engagi ng onl i ne pla t f o rm t h a t c o n t i n u o u s l y rei nf orces l ear ned sk i l l s. The P o w e rP i t c h s i m u l a t o r m o n i t o rs t he user’s voi ce, sp eech, bo dy l a n g u a g e , a n d e y e c o n t act , whi l e d el i veri ng real - t i me fe e d b a c k b a s e d o n re s e a rc h - b ack ed b est p ract i ces. U ser- generat ed d at a al l ows o rg a n i z a t i o n s t o m e a s u re i n d i vi d ual p rogress and sk i l l ret ent i on.

Pr ogener a ti on E nerg y Duke University

P ro generat i on Energy’s t wo p ro n ged ap p roach hel p s cust ome r s i n t w o w a y s . F i rs t , b y re d u ci ng a cust omer’s current en e rg y n e e d s , l o w e ri n g t h e i r u t i l i t y ex p enses. Thi s may i ncl ud e s im p l e c h a n g e s i n l i g h t i n g , or more i nt ensi ve st ruct ural c ha n g e s t o t h e b u i l d i n g . S e c o n d , we are cert i f i ed t o d esi gn a nd i n s t a l l s o l a r s y s t e m s w h i c h generat e ad d i t i onal revenue fo r t h o s e c l i e n t s . P ro g e n e ra t i on Energy i s t he onl y comp any in t h e Te x a s , E R C O T re g i o n t h at hol d s engi neeri ng, p rocurem e nt a n d c o n s t ru c t i o n ( E P C ) s ervi ces sp eci f i c t o commerci al energy consul t i ng i nho us e .

Q ua r ter w ear

Central Florida

We are an onl i ne- ret ai l er of lim it e d - e d i t i o n t - s h i rt s t h a t rai se awareness, sup p ort and c a pit a l f o r t h e w o rl d ’s g re a t e st causes and t hose who ad dre s s t h e m . We p a rt n e r a n d b ui l d 52 chari t y t - shi rt campa ig n s p e r y e a r ( 1 p e r w e e k ) . For every t ee sol d we d onat e 25% o f t h e p u rc h a s e t o t h a t week ’s chari t y. Q uart erwear wa s f o u n d e d o n t h e p ri n c i p l e that i nd i vi d ual s, chari t i es and no n- p ro f i t s s o l v i n g t h e w o rl d ’s most f und ament al and d i ff ic ult p ro b l e m s s h o u l d b e g i v e n more t han chap t ers i n f ut ure his t ory b o o k s ; t h e y s h o u l d b e reward ed and sup p ort ed t oda y. We b e l i e v e t h a t s o m e p rob l ems, some causes, are j ust t o o b i g t o b e t a c k l e d a l o n e . We work al ongsi d e t he worl d ’s p rob l em- sol vers t o f i nd s o lut i o n s t o s o c i e t y ’s m o s t p rob l emat i c i ssues.

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C OMPE TI NG TE A M S Ri gh t S i d e H e al t h

Har vard Business School We m a k e a p rod uct cal l ed S t ep s, c l i e n t management sof t ware f or h e a l t h and wel l ness coaches. It Health is a verb h e l p s t h ei r cl i ent s get b et t er resul t s, h e l p s c oaches run t hei r b usi ness m o re e a si l y and eff ect i vel y, and p rovi d es us wi t h usef ul d at a a b o u t w hat i s and i sn’t eff ect i ve i n get t i ng cl i ent s t o change t h e i r h a b i t s. In t he f ut ure, we want t o b e t he worl d ’s go- t o re s o u rc e f or i mp rovi ng heal t h t hrough b ehavi or change.

Ru n F o r m

Brigham Young University

runform

R u n F o rm i s t he mob i l e runni ng c o a c h . Our ul t ra t hi n i nsol e send s re a l - t i m e runni ng d at a t o your smart p hone, and our mob i l e a p p g i v e s aud i b l e coachi ng t i p s as you run t o hel p you i mp ro v e y o ur f orm and change t he way you run.

Spa rk g i g

University of Waterloo S p a rk g i g i s a communi t y mark et p l ace t hat s e a m l e s s l y connect s event organi z ers w i t h t a l ent ed l i ve p erf ormers. For up and c o m i n g p erf ormers, S p ark gi g i s a t ool t o c o n n e c t d i rect l y wi t h l ocal event op p ort un i t i e s . F or event organi z ers, S p ark gi g i s a w a y t o easi l y connect wi t h rel i ab l e l i ve ent ert ai ners i n t he ri g h t a re a, of t he ri ght k i nd and at t he ri ght p ri ce. S p ark gi g w i l l b e c ome t he gl ob al go t o d est i nat i on f or anyone seek i ng liv e e nt e rt a i n m e n t f o r a w e d d i n g , p ri vat e p art y or corp orat e event .

2014 I N T ERN AT I O N A L BUSI N ESS MO D EL CO MPE TITION I 23


CO M P E T I N G T E AM S S p y neTe ch

San Diego State Univer sity S p yneTech i s a comp any f ound ed by e n g i n e e rs a ro u n d t h e i d e a of an act i ve b ack b race. They a re d e v e l o p i n g a u n i q u e b a c k b race t hat p rovi d es smart s upp o rt t o c u s t o m e rs i n n e e d . Thei r goal i s t o red uce b ack pa in a n d b a c k i n j u ri e s b y d e s i gni ng a b race t hat t hi nk s f or t he u s e r i n o rd e r t o e l i m i n a t e t he chance of i nj ury and p rotect the spine.

S w a d d l e- mi - Bili

Michigan State Univer sity S w ad d l e- mi - Bi l i i s a wearab l e, po r t a b l e , l o w - c o s t t re a t m e n t f or neonat al j aund i ce. J aund i ce is a d i s e a s e t h a t a ff e c t s 6 0 % of newb or ns t hat can cause m e nt a l re t a rd a t i o n o r e v e n d e at h i f not t reat ed i mmed i at el y a ft e r b i rt h . C u rre n t t re a t m e n t s are cumb ersome and req ui re t he b a b y t o b e a w a y f ro m i t s mot her, causi ng a st ressf ul e xperi e n c e . S w a d d l e - m i - B i l i p ai rs current p hot ot herap y t e c h n o l o g y w i t h a w e a ra b l e s w ad d l e so t hat t he b ab y can be h e l d a n d b re a s t f e d d u ri n g treat ment whi l e p romot i ng mot her- i nf ant b ond i ng.

Tekni cally

Wilfrid Laurier University Te k n i cal l y’s f l agshi p p rod uct We b p l i o t ransl at es comp l ex we b a n a l y t i c s i n t o e a s y t o u n d erst and i nf ormat i on. S heet s o f d a t a b e c o m e g o rg e o u s grap hs. Easy t o und erst and re c om m e n d a t i o n s re p l a c e h o u rs of d aunt i ng anal ysi s. Wi t h We b p l i o , i n f o rm e d d e c i s i o n s can b e mad e on how t o im pro v e a w e b s i t e ’s e ff e c t i v eness. Web p l i o l aunches i n c lo s e d B e t a i n M a y 2 0 1 4 a n d wi l l l aunch t o smal l b usi ness o wners e v e ry w h e re l a t e r t h i s s ummer.

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C OMPE TI NG TE A M S Ty m p a n o g e n Tulane University

T h e re a re over 700,000 cases of p erf orat ed eard rums i n t h e U S al one, many d ue t o comp l i cat i ons f rom chroni c ear i n f e c t i o n s. C urrent t herap i es req ui re i nvasi ve surgeri es w i t h s u c cess rat es as l ow as 35%. O ur d ynami c and energet i c t e a m o f engi neers and p hysi ci ans i s commerci al i z i ng a g e l p a tch we d evel op ed at Tul ane U ni versi t y cal l ed P erf F i x ô , f o r non- surgi cal rep ai r of t hese eard rum p erf orat i ons. A p ro t o t y p e we d evel op ed was t est ed i n an ani mal mod el . T h i s g e l p at ch more t han d oub l ed t he cl osure rat e of t hese p e rf o ra t i ons whi l e act i vel y f i ght i ng i nf ect i on.

Ve ri t a s M e d i c a l L L C University of Utah

Ve ri t a s Med i cal LLC i s a st art - up comp any f o c u s e d i n t he cat het er med i cal d evi ce m a rk e t . C at het ers are sp eci al i z ed p l ast i c t u b i n g u s ed b y p hysi ci ans t o gai n access t o i n t e r n al areas of a p at i ent ’s b od y. Whi l e t h e s e c a t het ers are very i mp ort ant t o med i ci ne, unf ort unat el y t h e y h a v e a hi gh i nci d ence f or i nf ect i on. We are d evel op i ng a m e t h o d t o st op t hi s b y usi ng a hi gh i nt ensi t y l aser whi ch k ills bac t e ri a re s i d i n g o n t h e c a t het er. O ur p rod uct l i ne i s a cat het er i nsert i on and s t e r iliz a t i o n k i t t h a t w i l l b e s o l d d i rect l y t o hosp i t al s or as a p rescri p t i on f or at home us e by p a t i e n t s w i t h l o n g t e rm i n - p l ace cat het ers.

Ve Xe R e . c o m

Thunderbird School of Global Management B u s e s a re an i mp ort ant means of t ra n s p o rt i n S out heast A si a, p art i cul arl y i n Vi et nam, where 2 4 m i l l i on vi si t ors t ravel b y b us annual l y. H owever, t here i s n o c omp rehensi ve syst em t hat i nt egrat es mul t i p l e b us a g e n c i e s, sup p ort s searchi ng and b ook i ng b us t i ck et s a c ro s s S out heast A si a, or p rovi d es accurat e and up d at ed i n f o rm a t ion on b us t ravel l i ng. To d eal wi t h t hese i ssues, Ve X e Re .c o m s e e k t o p ro v i d e a comp rehensi ve onl i ne b us b ook i ng p l at f orm across m ult ipl e b u s o p e ra t o rs i n S o u t h east A si a and a mul t i - l i ngual ap p where p assengers c a n e as i l y s e a rc h a n d b o o k t i c k et s.

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CO M P E T I N G T E AM S Vol l ey Metr i cs

Brigham Young Univer sity A n y one who has p l ayed comp et i t i ve s po rt s k n o w s h o w i m p o rt a n t st at s, anal ysi s, and p ost - game f i l m a re ; t h e y a re a n e x c e l l e n t w ay t o i mp rove p erf ormance on b ot h pe r s o n a l a n d t e a m l e v e l s , y e t a d ed i cat ed st aff sp end s 20- 30 hours a we e k o n t h i s t a s k t o p u s h o u t ri ch, t horough anal ysi s. Vol l eyMet ri cs wa nt s t o h e l p s o l v e t h a t p ro b l em t hrough a S A aaS (S p ort s A nal yt i cs a s a S e rv i c e ) m o d e l . We a re “ busi ness i nt el l i gence” f or sp ort s­—  o ffe ri n g y o u t h , a m a t e u r, h i g h s chool , col l ege, and p rof essi onal sp ort s t e a m s f u l l y i n d e x e d g a m e f o o t age wi t hi n 6- 36 hours of up l oad i ng.

Wheel - Go- R ou nd Thammasat University

A p p ro x i m a t e l y 1 mi l l i on wheel chai r users i n T h a i l a n d a n d 88 mi l l i on around t he worl d h a v e d i ff i c u l t y i n f i nd i ng usef ul i nf ormat i on n e e d e d f o r t ravel l i ng. Many choose t o avoi d g e t t i n g o u t of t he house b ecause of t he o bs t a c l e s t h e y h a v e t o f a c e when goi ng t o p l aces t hey d o no t k n o w a n d t h e w o rry t o b e a b urd en f or t hei r comp an io ns w h i l e t ra v e l l i n g . W h e e l - g o- round i s creat ed t o col l ect a nd s h a re u p - t o - d a t e i n f o rm a t ion of p l aces t hat have necessary accessi b l e f aci l i t i es s uc h a s ra m p s , t o i l e t , a n d re s erved p ark i ng f or wheel chai r users.

Whi teL i ght Med i c al Johns Hopkins University

W h i t e L i g h t Med i cal i s a st art up medi c a l d e v i c e f i rm t hat i s d evel op i ng a l o w - c o s t , smart er p ed i cl e p rob e, A cc u S p i n e T M , f or t he accurat e p l acement o f p e d i c l e screws i n sp i nal f usi on surg e r ies . O u r t e a m a i m s t o re d u ce screw b reach rat es, op era t ing ro o m t i m e a n d ra d i a t i o n ex p osure, t heref ore l i mi t i ng t he co s t o f t h e p ro c e d u re w h il e enhanci ng saf et y f or b ot h pa t ien t s a n d d o c t o rs .

Woo zy

Monterrey Institute of Technology Wo oz y is sol vi ng p ai ns p eop l e e x p eri ence whi l e t ravel i ng. We p rovi d e a re n tab l e p ersonal sp ace t hat i ncl ud es a re c li n i n g c h a i r, a m o v a b l e t a b l e, Wi - Fi , and an out l et . Thus, we wi l l be ab l e t o m a k e t ra v e l i n g o v e r l ong d i st ances a more enj oyab l e and c o m f o rt a b l e e x p e ri e n c e . 26


JUDGING

2 0 1 4 i n t e r n at i o n a l b u s i n e s s m o d e l c o m p e t i t i o n

J UDGING CR ITE RIA FINAL J UDGE S S E MI-FINAL J UDGE S

2014 I N T ERN AT I O N A L BUSI N ESS MO D EL CO MPE TITION I 27


J U DGING C R I T E R I A

International Business Model Competition 2014 JUDGING CRITERIA Each round of the International Business Model Competition is generally judged using the following questions: • • • • •

• • •

• •

Did the team use the Business Model Canvas or similar tool to identify and track assumptions? Did the team clearly state their assumptions/hypotheses? Did the team identify the most crucial assumptions to test first (the ones that will 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? o Number of tests - should be adjusted for industry, product type (web vs physical product), and business type (B2B vs B2C) o Quality of tests - interviews are high quality, surveys & focus groups are much lower quality (you don’t know which questions to ask) unless interviews have been conducted first Did the team clearly state what they learned, how it validated an assumption or not, and if that informed any changes/pivots? 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? If appropriate, has the team developed a prototype or minimum viable product (MVP)? Does the team understand the assumptions they are testing with a prototype or MVP? Is the prototype or MVP appropriate to answer those assumptions? (We want to reward prototypes over full products unless the product is the result of many prototypes tested with customers—in other words, we want to reward testing assumptions before building and building from prototypes up to products. We do not want to reward just building products too early based on untested assumptions) Is the team solving a significant problem (defined in terms of money or impact)?* Does the team have significant evidence that the solution is validated (includes letters of intent, purchase contracts, sales, and partners)?*

* these criteria serve as tie breakers NOTE: Because web-based businesses are easier to test, these companies can often pivot faster. We tend to treat physical products, services, and web/software as slightly different categories in the judging, then pick the best of these categories to compete.

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F I NAL JUDG ES STEVEN BL A N K After 21 y e a r s in 8 h i g h t e c h n o l o g y c o m p ani es, S t even Bl ank ret i red i n 1999. H i s l ast c o mpa ny, E.p i p h a n y, w a s c o - f o u n d e d i n hi s l i vi ng room i n 1996. Bl ank al so fou nde d t wo s e m i c o n d u c t o r c o m p a n i e s ( Z i l og and MIP S C omp ut ers), a work st at i on c o m pa ny (Co nv erg e n t Te c h n o l o g i e s ) , a c onsul t i ng st i nt f or a grap hi cs hard ware/ soft wa re s pino ut ( P i x a r) , a s u p e rc o m p u t e r fi rm (A rd ent ), a comp ut er p eri p heral supp l i er (S upe r M a c ) , a m i l i t a ry i n t e l l i g e n c e s y st ems sup p l i er (ES L), and a vi d eo game c o m pa ny (Ro c ket S c i e n c e G a m e s ) . In re t ire me nt , Bla n k w ro t e F o u r S t e p s t o t he Ep i p hany, a b ook ab out b ui l d i ng earl y stag e c o mpa nie s . H i s l a t e s t b o o k , T h e S t a rt up O wners Manual i nt egrat es 10 years of ne w kno wle dg e . B l a n k n o w t e a c h e s e n t re p reneurshi p t o b ot h und ergrad uat e and grad uat e st ud ents at U.C. Be r k e le y, S t a n f o rd U n i v e rs i t y a n d t h e Col umb i a U ni versi t y/Berk el ey J oi nt Ex ecut i ve MBA p rogr am.

A LEX O ST E RWALD E R Dr. A le xa nde r Os t e rw a l d e r w o rk s a s a n i nd ep end ent aut hor, sp eak er and ad vi sor wi th a pa r t ic ula r f o c u s o n b u s i n e s s m o d el i nnovat i on, st rat egi c management and ma na g e m e nt inno v a t i o n . Be s ide s his inde p e n d e n t a c t i v i t i e s h e i s p art ner at A rvet i ca, a consul t i ng b out i q ue focus ing o n t he p ri v a t e b a n k i n g a n d w e a l t h management i nd ust ry. H i s rol e i ncl ud es b u s ine s s de v e lo p m e n t a n d t h e m a n a g e m e n t of a p eer k nowl ed ge ex change p l at f orm for s e nio r e xe c ut i v e s i n p ri v a t e b a n k i n g ( w ww.p ri vat eb ank i ngi nnovat i on.com). Pre v io us ly D r. Os t e rw a l d e r f o u n d e d a n d ra n Busi nessMod el Desi gn.com, a consul t i ng b out i q ue active i n s t r a t e g y c o ns u l t i n g w i t h a f o c u s o n b u s i n ess mod el i nnovat i on. Dr. O st erwal d er has a P h.D. i n Mana g e m e nt Info r mat i o n S y s t e m s ( M I S ) f ro m t h e U ni versi t y of Lausanne, S wi t z erl and , where he worked as a te a c hing a nd res e a rc h a s s i s t a n t a n d p u b l i shed ex t ensi vel y. H e al so d evel op ed and t aught a seminar o n Inf o r ma t io n an d C o m m u n i c a t i o n Te c h n ol ogi es f or Devel op ment (IC T4D).

NATHA N F U RR Na tha n F ur r e a r n e d h i s P h .D. a t S t a n f o rd U ni versi t y i n t he S t anf ord Technol ogy Vent ure s P ro g r a m a n d i s c u rre n t l y a n a s s i st ant p rof essor of ent rep reneurshi p at Bri g ha m Yo ung U n i v e rs i t y. N a t h a n ’s re s e a rch f ocuses on mark et d evel op ment and e a rl y s t a g e e nt re p re n e u ri a l p ro c e s s e s . I n p art i cul ar, N at han has b een work i ng on i d e a s a ro und Cu s t o m e r De v e l o p m e n t , L e an S t art up , and t he N ai l It t hen S cal e It me t ho do lo g ie s w h i c h p ro p o s e p ro c e s s e s t hat ent rep reneurs can use t o d ramat i cal l y trans f o r m t he ir b u s i n e s s m o d e l s . I n a d d i t i on, N at han’s ot her research ex ami nes i ssu e s o f c ha ng e , i n n o v a t i o n , c o g n i t i o n a n d st rat egy i n ent rep reneuri al and d ynami c e nv iro nm e nt s . Pro f e s s io na lly, N a t h a n h a s a c t e d a s t h e f o u nd er or ad vi sor t o st art up s i n web 2.0, cl ean t echnology, re ta il, pro fe s s io n a l s e rv i c e , a n d f i n a n c i a l servi ces i nd ust ri es. In ad d i t i on, N at han i s current l y on the i n ves t me nt bo a rd o f t h e Ki c k s t a rt S e e d F u nd , an i nnovat i ve earl y- st age f und . N at han was al so a consu l t a nt a t M o nit or G ro u p , a n i n t e r n a t i o n a l st rat egy consul t i ng f i rm, work i ng wi t h seni or ex ecut i v es on a ra ng e o f s t r a t eg i c a n d m a rk e t d i s c o v e ry i ni t i at i ves i ncl ud i ng st rat egy d evel op ment , organi zationa l cha ng e , t e c hn o l o g y c o m m e rc i a l i z a t i o n , communi cat i on p rocesses, st rat egi c p l anni ng, comp etitive a na ly s is , a nd mark e t i n g . I n a d d i t i o n t o h i s d oct oral st ud i es, N at han has a BA , MA , and an MBA . 2014 I N T ERN AT I O N A L BUSI N ESS MO D EL CO MPE TITION I 29


F INA L J U D G E S JOHN R ICHA RDS J o h n R i c h a rd s i s a n ent rep reneur, vent ure i nvest or, ex ecut i ve manager, and educator. H i s a c t i v i t i e s h a v e i ncl ud ed f ound i ng, runni ng, sel l i ng, and i nvest i ng in sever al e n t e rp ri s e s . H e m e n tors ent rep reneurs f req uent l y. H e i s head of op erat i ons for Google F i b e r - P ro v o , U t a h , work i ng on one of t he worl d ’s great i nt rap reneuri al ventures. P re v i o u s l y, h e h a s s pent over a d ecad e t eachi ng ent rep reneurshi p at Bri g ham Young U n i v e rs i t y i n P ro v o , U t ah where he al so hel p ed b ri ng t he Rol l i ns C ent er f o r Entrepren e u rs h i p & Te c h n o l o gy t o gl ob al p romi nence. H e was managi ng p art ner of UtahAngels, a v e n t u re i n v e s t i n g group . H e co- f ound ed BoomS t art up , a t ech accel erator in Utah, a nd a ls o fo u n d e d t h e U t a h S t u d e n t 25. P revi ousl y, he was p resi d ent of a p ub l i shi ng company in S e a t t le , Wa s h i n g t o n a n d l a t e r s t a rt e d a comp any t hat l ed t o an i ni t i al p ub l i c off eri ng and a multi-billiondo lla r v a luat i o n ( I n f o S p a c e ) . J o h n i s a f req uent sp eak er at conf erences and ot her event s. He and his fa m ily re s ide i n P ro v o , U t a h .

JAME S CLA RKE J a m e s C l a rk e i s t h e Managi ng P art ner of C l ark e C ap i t al P art ners, a Growth E q u i t y a n d A l t e r n a t i ves Fund . Wi t hi n t he C l ark e A l t er nat i ves p ort f ol i o, t he team has a c q u i re d s i g n i f i c a n t ownershi p of C ont ourH D where he serves as C hai rm an of the B o a rd . P ri o r t o C C P, he d i rect ed Yel l owst one P art ner’s P ri vat e Eq ui t y & Alter native A s s e t s a n d re m a i n s an aff i l i at e. In 2001, J ames f ound ed C LEA RLIN K , b ased in Salt L a k e C i t y, U t a h , w ork i ng as C EO , t hen C hai rman. A f t er nearl y 10 years in online re t a i l , J a m e s ’s s t a k e of C LEA RLIN K was acq ui red i n earl y 2011 b y P aml ico Capital ( f o rm e rl y Wa c h o v i a ) . C LEA RLIN K was honored i n 2008 as U t ah’s 4t h f ast est growing c o m pa ny a n d i s a m u l t i - y e a r I N C . 5 0 0 reci p i ent . J ames has b een recogni z ed as a vS p ri ng 100 Entrepre ne ur, a n M W C N “ U t a h 1 0 0 ” H o n o ree on mul t i p l e occasi ons, and as a U t ah Busi ness Magazine “ 40 Unde r 40” b u s i n e s s l e a d e r.

GAV I N C HR I STENSEN S i n c e f o u n d i n g Ki c kst art S eed Fund i n 2008, Gavi n has b een resp ons ible for all a s p e c t s o f m a n a g i n g t he f i rm i n ad d i t i on t o l ead i ng d ue d i l i gence and investment d e c i s i o n s i n c o n j u n ct i on wi t h K i ck st art ’s Invest ment C ommi t t ee. P ri or t o Kickstar t, G a v i n w a s a n a n a l y st , associ at e and p ri nci p al at vS p ri ng (now S i gnal P eak). B efore v S p ri n g C a p i t a l , G a v i n al so work ed as a Vert i cal S t rat egy A ssoci at e f or G oogle and a s a c o n s u l t a n t i n Moni t or Group ’s C amb ri d ge off i ce where he ad vi sed clients on a ra n g e o f s t ra t e g i c , op erat i onal , and organi z at i onal i mp rovement s. Gavi n began his c a re e r a t F i d e l i t y I n v est ment s as an i nvest ment s rep resent at i ve.

SEMI -F I N AL J U D G E S 2 0 1 4 i n t e r n at i o n a l b u s i n e s s m o d e l c o m p e t i t i o n

Amy Anderson

Dani el Ap p el

Co rb i n Church

B ra d H a g e n

To m K arren

Si d K ro mmenho ek

Tra c y L i v i n g s to n 30

Greg Peters o n


HISTORY

2 0 1 4 i n t e r n at i o n a l b u s i n e s s m o d e l c o m p e t i t i o n

IBMC FOUNDING & S PONSOR S D U R A N T SCHOOL OF E NTR E PR E NE URS HIP WH AT IS THE IBMC WHAT WINNING TE AMS DO SUCCE S S STOR IE S

2014 I N T ERN AT I O N A L BUSI N ESS MO D EL CO MPE TITION I 31


I BM C F O U N D I N G & S P O N SO R S T he Int e r n a t i o n a l B u s i n e s s M o d e l C omp et i t i on rep resent s t he f i rst comp et i t i on of i t s kind in t he worl d a n d i s p a rt o f a g ro u n d b reak i ng ap p roach t o ent rep reneurshi p t hat f ocuses on the pro c e s s o f i m p ro v i n g t h e i n p u t s i nt o ent rep reneurshi p rat her t han t he out p ut s. S p eci fically, r a t he r t h a n f o c u s i n g o n o u t p u t s l i k e b usi ness p l ans or f und rai si ng, t hi s new ap p roach focuse s o n t h e k e y t a s k s o f t e s t i n g a s sump t i ons i n t he f i el d and d evel op i ng val i d at ed b us iness m o de ls w h i c h i s m a n i f e s t t h ro u g h d eep cust omer i nt eract i on and t ract i on. I B M C SP O N S O R T he IBM C i s s p o n s o re d b y t h e K evi n and Deb ra Rol l i ns C ent er fo r E nt re p re n e u rs h i p & Te c h n o l ogy i n t he Marri ot t S chool of M a na g e m e n t a t B ri g h a m Yo u n g U ni versi t y. The Marri ot t S chool o f M a n a g e m e n t ’s e n t re p re n e u rs hi p p rogram i s consi st ent l y r a nke d a s o n e o f t h e t o p p ro g ra m s i n t he count ry each year. IBMC FOUNDERS Na t ha n F u rr ( P h .D., S t a n f o rd ; E n t rep reneurshi p P rof essor, BY U ) S t e v e n B l a n k ( E n t re p re n e u rs h i p P rof essor, U C Berk l ey; Lect urer, S t anf ord ) J o hn R i c h a rd s ( E n t re p re n e u rs h i p P rof essor, BY U ) S c o t t P e t e rs e n ( Di re c t o r, C e n t e r for Ent rep reneurshi p & Technol ogy, BY U ) T he IBMC i s c u rre n t l y c o - h o s t e d b y Bri gham Young U ni versi t y, H arvard U ni versi t y, and S t a nf o rd U n i v e rs i t y.

DU RA NT S C H O O L O F E N TR E PR E NE UR S HI P T he Bu s i n e s s M o d e l C o m p e t i t i o n i s i nsp i red b y t he st ori es of A l f red S l oan and Bi l l y D ur ant. A lt ho ugh m a n y p e o p l e k n o w A l f red S l oan as t he C EO of General Mot ors and t he f at her of the m o de r n c o rp o ra t i o n , f e w p e o p l e know of Bi l l y Durant , t he creat i ve ent rep reneur t hat f ounded Ge ne r al M o t o rs , w h o g re w re v e n ues i nt o t he hund red s of mi l l i ons b ef ore b ei ng oust ed by the bo a rd f o r b e i n g t o o m a v e ri c k . T he D ura n t v s S l o a n s t o ry i s i c o n i c b ecause i t mi rrors t he d evel op ment of gl ob al economi es and bus ine s s s c h o o l s a f t e r t h e i n d u s t ri al revol ut i on, when l arge f i rms d i sp l aced ent rep reneur ial fir ms a n d e d u c a t i o n b e c a m e f o c u sed on t heory and p ract i ce f or managi ng l arge f i rms. Ho we ve r, t h e t a c t i c s f o r m a n a g i n g l arge f i rms of t en f ocus on k nown p rob l ems and sol u tions whe re a s n e w v e n t u re s ( w h e t h e r i n st art up s or ex i st i ng f i rms) f ace a d i ff erent chal l eng e: unk no wn p ro b l e m s a n d u n k n o w n s ol ut i ons. Thi s means t hat t he t echni q ues t o t rai n “Sloan” m a na g e rs m a y n o t w o rk w e l l t o trai n “Durant ” ent rep reneurs. Desp i t e t he val ue t hat Sloan m a na g e rs a d d t o s o c i e t y, t h e w o rl d need s t he b rash i nnovat i veness of Durant ent rep reneur s t o c re a t e t h e n e x t w a v e o f i n n o v at i on. Recent research has b egun t o i nvest i gat e t his new a ppro ac h t o e n t re p re n e u rs h i p e d ucat i on, t he vi rt ual concep t k nown as t he Durant S chool of E nt re pre n e u rs h i p .

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WHAT IS T H E I N T E R N AT I O NAL B US I NE S S MO DE L C OMPE TI TI O N? Ov e r 85 p e rc e n t o f n e w b u s i n e s s e s f ai l wi t hi n a f ew years, of t en b ecause t hey t ry t o plan t he ir wa y t o s u c c e s s . I t ’s t i m e t o c hange. T he Int e r n a t i o n a l B u s i n e s s M o d e l C omp et i t i on rep resent s a rad i cal d ep art ure f rom t he past a nd t he cre s t o f a n e w p a ra d i g m i n ent rep reneurshi p . The IBMC i s not a b usi ness plan c o m pe t it i o n . R a t h e r t h a n f o c u s i n g on d evel op i ng a rob ust b usi ness p l an, comp l et e w ith fina nc ia ls a n d s l i c k p re s e n t a t i o n s , t he b usi ness mod el comp et i t i on f ocuses on i d ent i f y ing a nd pre c i s e l y d e f i n i n g t h e a s s u m p t i ons of t he new vent ure, t est i ng t hose assump t i ons in t he f ie ld, a n d t h e n p i v o t i n g ( c h a n gi ng) b ased on t he l essons l ear ned . The IBMC rewards s t ude nt s f o r: 1. 2. 3. 4.

Bre a kin g d o w n i d e a s i n t o k e y b u s i ness mod el assump t i ons Ge t t ing o u t s i d e t h e b u i l d i n g a n d t est i ng assump t i ons wi t h cust omers A pply in g c u s t o m e r d e v e l o p m e n t and l ean st art up p ract i ces t o nai l t he p ai n and sol ut ion Le a r nin g t o p i v o t ( c h a n g e ) u n t i l arri val at a cust omer- val i d at ed b usi ness mod el

Ult ima t e ly w e b e l i e v e t h i s w i l l d ra m at i cal l y i mp rove t he success rat e of new vent ures. The IBM C is t h e f i rs t i n t e r n a t i o n a l c o m pet i t i on of i t s k i nd and i s op en t o al l st ud ent s enrol l ed at a n a c c re d i t e d i n s t i t u t i o n o f h i g h e r ed ucat i on anywhere i n t he worl d . Each year t housand s of s t ude nt t e a m s f ro m h u n d re d s o f s c hool s al l over t he worl d p art i ci p at e.

WHAT W I N N I N G T E AM S D O F I N D A P RO B LE M F ind a big c u s t o m e r p ro b l e m w o rt h sol vi ng and wri t e d own al l your k ey hyp ot heses about t he bus in e s s m o d e l t o s o l v e t h i s p rob l em. We recommend t hat you use A l ex O st erwal d er ’s Bus ine s s M o d e l C a n v a s a s a s c o re card t o t rack your assump t i ons and t he changes t hat y ou make. N A I L T H E PAI N Ge t o ut s id e t h e b u i l d i n g a n d i n t e rv i ew cust omers f ace- t o- f ace t o und erst and t he “j ob ” cust o me r s a re t ry i n g t o d o , t h e i r c u rrent p ai n, and how t hey sol ve t hat p ai n. P i vot when y ou dis c o v e r y o u a re w ro n g . N A I L T H E S O LU T I O N D e v e lo p a m i n i m u m v i a b l e p ro d u c t p rot ot yp e and get out si d e t he b ui l d i ng f ace- t o- f ace with c us t o me r s t o t e s t y o u r v i s i o n o f t h e sol ut i on. P i vot when you d i scover you are wrong. Repe a t t he s e t e s t s u n t i l y o u n a i l t h e s ol ut i on. N A I L T H E G O -T O -MAR K E T S T R AT E G Y Ge t o ut s i d e t h e b u i l d i n g t o u n d e rs t and t he end - t o- end cust omer b uyi ng p rocess, and the m a r ke t c om m u n i c a t i o n a n d d i s t ri b u t i on i nf rast ruct ure. Id ent i f y t he l everage p oi nt s. P i vo t. N A I L T H E B U S I N E S S MO D E L Us e t he f a c t s d i s c o v e re d t o v a l i d a t e t he revenue mod el f or t he b usi ness. P I V OT T hro ug hou t t h e p ro c e s s l e a r n t o change course whenever you d i scover you are wrong. Re m e m be r, t h e g o a l i s v a l i d a t e d l e ar ni ng ab out t he b usi ness mod el assump t i ons and f ai ling e a r ly is a s u c c e s s c o m p a re d t o f a i l i ng l at e.

2014 I N T ERN AT I O N A L BUSI N ESS MO D EL CO MPE TITION I 33


SU CCE S S S T O R I E S O w l e t B a b y C ar e

ow l etca r e.com

T h e O w l e t S m a rt S o c k i s a d evi ce t hat f i t s on a b ab y’s ank l e and moni t ors i t s v it a l s i g n s . C o n v e n i e n t l y d e li vered t o a smart p hone, p arent s have access t o t heir c h i l d ’s h e a rt ra t e , s k i n t e m p erat ure, ox ygen l evel s, and sl eep i ng p osi t i on. Thi s de v i c e g i v e s p a re n t s a p i e c e of mi nd and conf i d ence t hat t hei r b ab y i s d oi ng wel l.

BABY MONITORS

A f t er wi nni ng l ast year’s IBMC , O wl et Bab y C are has g a i ned si gni f i cant t ract i on. The comp any has successf ul l y ru n a crowd f und i ng camp ai gn and p re- sol d $300,000 w o rt h of d evi ces. J ust recent l y O wl et rai sed $1.85 mi ll i o n f rom mul t i p l e f i rms i ncl ud i ng ff Vent ure C ap i t al and E n i ac Vent ures. The comp any al so comp l et ed t he RGA C o nnect ed Devi ces A ccel erat or t hrough Tech S t ars.

Co m p a n y ’s V P o f S a l e s , J ord an Monroe, at t ri b ut es t hei r val i d at i on- d ri ven a p p ro a c h t o p ro d u c t d e v e l o pment t o t he IBMC . H e says, “The IBMC t aught us how c ru c i a l i t i s t o s t i c k c l o s e t o t he cust omer and t o mak e p rod uct d eci si ons b ased o n t h e i r v i e w s . I f t h e c u s t o mer i s not i nvol ved , t he p rod uct runs a ri sk of b ei ng un w a n t e d .” T h e n e x t f e w m ont hs wi l l b e very b usy f or O wl et Bab y C are as t hey pre p a re t o s h i p t h e f i rs t ru n of t hei r p rod uct t o cust omers.

Boss e To o l s

b ossetool s.com

Bo s s e To o l s i s a s t a rt u p c omp any t hat i s changi ng hard ware t ool s t hrough erg o n o m i c s . T h e y a re t ra n s f ormi ng const ruct i on, agri cul t ure, l and scap i ng, and ho m e - g a rd e n i n g . T h e i r o ri g i nal p rod uct i nnovat i on was an ergonomi cal l y d esi gned s h o v e l w i t h a ro t a t i o n a l h a n d l e, rei nf orced shaf t , and cust om cent ered f oot st ep. A f t e r c o m p e t i n g i n t h e I B M C , Bosse Tool s l aunched a successf ul crowd f und i ng c a m p a i g n o n K i c k s t a rt e r a n d rai sed over $64,000. The comp any has al so b een fe a t u re d i n d o z e n s o f n a t i o nal news med i a out l et s. C omp any f ound er, S t ep hen Wal d en, says t hat t he b i ggest t hi ng he’s l ear ned so f ar wi t h ent rep reneurshi p and i nnovat i on i s t o “l ear n f rom everyone.” Wal d en ex p l ai ns t hat “no mat t er who you are t al k i ng t o, everyone you meet b ecomes f ree i nf ormat i on t hat shap es your success.” Bosse Tool s current l y m a n u f a c t u re s e rg o n o m i c s p ad e, snow, and f l at head shovel s. But Bosse i s not jus t a s h o v e l c o m p a n y. T h ey have p l ans t o creat e everyt hi ng f rom sp eci al i z ed c o n s t ru c t i o n t o o l s t o g a rd e n i ng eq ui p ment – al l b enef i t t i ng f rom our ergonomi c de s i g n s . A l l o f t h e s e t o o l s wi l l event ual l y b e avai l ab l e wi t h b ot h rot at i onal and s t a t i o n a ry h a n d l e s .

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S UC C E S S S TORIES

F i be r Fi x

fi b er f i x .com

F ibe rF i x i s t h e w o rl d ’s s t ro n g est rep ai r wrap . Based on t he ort hop ed i c cast i ng t a pe t h a t d o c t o r’s u s e t o f i x b rok en b ones, Fi b erFi x has a uni q ue resi n and f i b er s t r uc t u re t h a t h a rd e n s l i k e s t e el and mak es i t 100x st ronger t han d uct t ap e. Fi b erF ix ca n b e u s e d f o r a l l t y p e s of househol d rep ai rs f rom b rok en shovel hand l es t o le a k y p i p e s . Do n ’t re p l a c e i t ; fi x i t f or good wi t h Fi b erFi x . Be fo re c o m p e t i n g i n t h e 2013 IBMC , F ibe rF i x w a s i n a b o u t 1 0 0 st ores. N ow F ibe rF i x c a n b e f o u n d i n o v e r 10,000 st ores a c ros s t h e U S a n d i n t e r n a t i onal l y and i s c o nt i n u i n g t o g ro w o n a v e ra g e of ab out 100 s t o re s p e r w e e k . F i b e rF i x c a n now b e f ound i n 34 d i ff erent count ri es, i ncl ud i ng No r w a y, A u s t ra l i a , S o u t h A f ri c a and A z erb ai j an. S pe n c e r Q u i n n , C M O a n d C o - Found er at Fi b erFi x , says t hat , “t he b usi ness mod el a ppro a c h i s o u r b u s i n e s s . We ’ve al read y d eci d ed t o rol l out new p rod uct s b ased o ff of t h e c o n t i n u a l f e e d b a c k we get f rom cust omers. O ur ab i l i t y t o rap i d l y p i vot in t h e d e v e l o p m e n t o f n e w p rod uct s has gi ven our smal l comp any a comp et i t i ve a dv a n t a g e o v e r p l a y e rs t h a t h ave b een i n t he i nd ust ry f or years.” F ibe rF i x i s ro l l i n g o u t n e w p ro d uct s t o sup p ort t he Fi b erFi x b rand i ncl ud i ng t he Fi be r Fi x P a t c h , F i b e rF i x H e a t Wrap and Fi b erFi x S creen Mend and a secret p rod uct which w i l l b e re v e a l e d i n e a rl y 2015.

2014 I N T ERN AT I O N A L BUSI N ESS MO D EL CO MPE TITION I 35


A SPECI A L T HANKS TO OUR SPONSORS

ALTA VENTURES

K I CKSTART SEED FUND

S PAC E MONKEY


CANADA

F I N L AND

JA MA ICA

2014 QUALIFIER COMPETITIONS

JA PAN


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Profile for International Business Model Competition

International Business Model Competition Booklet 2014  

The International Business Model Competition booklet includes information about the competition and participating teams.

International Business Model Competition Booklet 2014  

The International Business Model Competition booklet includes information about the competition and participating teams.

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