Deadline: April 1, 2020 00:00 CEST| Apply here
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Eligibility: The BMC Global is open to all students enrolled at accredited institutions of higher education anywhere in the world
Business Model Competition Global 2020
Business Model Competition Global is the first and largest competition of its kind in the world. Its primary aims are to inspire and educate smarter student entrepreneurs who launch validated ventures that last.
The Business Model Competition Global represents the first, national business model competition and is part of a groundbreaking approach to entrepreneurship that focuses on the process of improving the inputs into entrepreneurship rather than the outputs.
Specifically, rather than focusing on outputs like business plans or fundraising, this new approach focuses on the key tasks of testing unexamined assumptions in the field and developing validated business models which are usually manifest through a deep customer understanding and traction.
Over 85 percent of new businesses fail within a few years, often because they try to plan their way to success. It’s time to change that.
The BMC Global is a unique student startup competition focused on the inputs, not the outputs, of the entrepreneurial process.
The competition rewards active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than researching secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.
Submissions for the competition focus on the process entrepreneurs undertake as they test their most crucial 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.
The BMC Global is open to all students enrolled at accredited institutions of higher education anywhere in the world. Each year thousands of student teams from hundreds of schools all over the world participate.
Interested in applying for the Business Model Competition Global 2020? Register your participation by following the registration link and taking the suggested steps.