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Bmc global info slides, 2019

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BMC Global Info Slides

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Bmc global info slides, 2019

  1. 1. The first and largest competition of its kind in the worldThe first and largest competition of its kind in the world
  2. 2. The first and largest competition of its kind in the world
  3. 3. The first and largest competition of its kind in the world Where we started … The IBMC was founded in 2010 by Brigham Young University’s Rollins Center for Entrepreneurship.
  4. 4. The first and largest competition of its kind in the world Where we started … Steve Blank -Author of The Four Steps to the Epiphany that launched the Lean Startup movement Alex Osterwalder -Co-author of Business Model Generation -Creator of Business Model Canvas Nathan Furr -Co-author of Nail It Then Scale It -Lead author of The Innovator’s Method
  5. 5. The first and largest competition of its kind in the world What we do … “We create a world-class student venture competition that leverages lean startup principles and other best current thinking around innovation and entrepreneurship education. We aim to inspire and educate smarter student entrepreneurs who launch validated ventures that last.”
  6. 6. The first and largest competition of its kind in the world Where we focus … “We focus on the process and learning a team goes through as they test their hypotheses with customers and develop validated business models. The goal is validated learning about the key business model hypotheses and failing early is a success compared to failing late.”
  7. 7. The first and largest competition of its kind in the world What we reward … 1)Identifying and tracking key business model hypotheses 2)Testing and validating those hypotheses with customers 3)Pivoting and iterating business models based on customer interactions and feedback
  8. 8. The first and largest competition of its kind in the world How we’re different … The IBMC is different than other traditional student venture competitions. We focus on education and learning. • We provide all competing teams with a pre-competition mentor • The first day of our competition is a conference with presentations and workshops from entrepreneurship and innovation experts • Pitches focus on validation and traction
  9. 9. The first and largest competition of its kind in the world How we’re different …
  10. 10. The first and largest competition of its kind in the world How we’re different … Outside versus Inside the Building: Outdated business plans were written using library research. Successful business models are achieved through talking to customers and making changes based on feedback from those conversations. Input versus Output Focus: Traditional student venture competitions focused on compelling write-ups and slide presentations that check all the right boxes. In the IBMC, sleek presentations are not going to cut it. And the boxes that do need to be checked are new and impossible to fake. Validated learning about what customers really want is the stuff a business model is made of and music to the ears of potential investors.
  11. 11. The first and largest competition of its kind in the world How we’re different … Customer Development versus Product Development: Product development while important for mature companies, doesn’t work for startups. Customer development leverages prototypes, which are minimum viable products that compress the development cycle and jump start the learning process. Change versus Fortify: Most business plans attempt to fortify/prove the core idea with evidence. Judges of the IBMC look for instances where teams learned they were wrong and made a change or “pivot” in a new and right direction.
  12. 12. The first and largest competition of its kind in the world How we’re different … Chasing Customers versus Chasing Funding: Most business plans are written to raise money. Unfortunately the business plan formula doesn’t capture the answers investors most want to see: real validation that you can make a product customers want. Instead of chasing the money, chase customers. Doing versus Talking: Business plans are static documents that often talk about what will happen in the future. Business models and the IBMC reward entrepreneurs who are actively going into the field to speak with and learn from customers.
  13. 13. The first and largest competition of its kind in the world 2015 3,832 Teams, 276 Schools, and 15 Countries Hosted at BYU 2014 2,418 Teams, 209 Schools, and 19 Countries Hosted at BYU 2012 59 Teams, 7 Schools, and 1 Country 45 Teams, 6 Schools, and 2 Countries 2011 Where we’ve been … 2013 1,383 Teams, 143 Schools, and 10 Countries Hosted at Harvard 2016 5,113 Teams, 482 Schools, and 29 Countries Hosted at Microsoft 2017 5,953 Teams, 495 Schools, and 27 Countries Hosted in Silicon Valley at the Computer History Museum 2018 6,000+ Teams, Almost 600 Schools, and 30 Countries Hosted at BYU
  14. 14. The first and largest competition of its kind in the world What we’ve seen … • Almost 30,000+ student teams from hundreds of schools in almost 40 countries and six continents have competed in IBMC-affiliated competitions • 2016 Participant Demographics: 64% non-US, 57% non-white, and 24% female • All women team crowned the Global Champion in 2019 (The Girls Co.)
  15. 15. The first and largest competition of its kind in the world Who we’ve launched … -1st Place, IBMC 2017 -Y Combinator Accelerator -Over $2M in funding including a large STTR grant from the NSF -1st Place, IBMC 2016 -Lemelson-MIT Invention Award -$2.8M in funding -4th Place, IBMC 2018 -Y Combinator Accelerator -Lemelson-MIT Invention Award
  16. 16. The first and largest competition of its kind in the world Who we’ve launched … -1st Place, IBMC 2013 -R/GA Techstars Accelerator -$48M in funding -3rd Place, IBMC 2012 -Amplify.LA Accelerator -$9M in funding -4th Place, IBMC 2015 -Y Combinator Accelerator -$1M in funding
  17. 17. The first and largest competition of its kind in the world What we’ve learned … • There is a better, more successful way to be an entrepreneur and launch companies • The global entrepreneurial community is taking note and adapting to the change • There is still more to be done to help entrepreneurs who are the lifeblood of the local and global economy
  18. 18. The first and largest competition of its kind in the world Where we are today …
  19. 19. The first and largest competition of its kind in the world Where we are today …
  20. 20. The first and largest competition of its kind in the world Where we are today …
  21. 21. The first and largest competition of its kind in the world Where we are today …
  22. 22. The first and largest competition of its kind in the world Where we are today …
  23. 23. The first and largest competition of its kind in the world Where we are today …
  24. 24. The first and largest competition of its kind in the world We’d love to connect … • Jeff Brown, IBMC Director – Email: jeff.brown@byu.edu – Mobile: 801.367.3936 – LinkedIn: @jeffbrown40 • IBMC – Email: businessmodelcompetition@gmail.com – Web: businessmodelcompetition.com – Facebook: @businessmodelcompetition – Twitter: @intlbmc

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