BMC Global Info Slides

1. The first and largest competition of its kind in the worldThe first and largest competition of its kind in the world

2. The first and largest competition of its kind in the world

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. 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. 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. 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. 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. 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. The first and largest competition of its kind in the world
How we’re different …

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Outside versus Inside the Building: Outdated business plans were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. 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. 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. 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. 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. 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. 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. 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. The first and largest competition of its kind in the world
Where we are today …

19. The first and largest competition of its kind in the world
Where we are today …

20. The first and largest competition of its kind in the world
Where we are today …

21. The first and largest competition of its kind in the world
Where we are today …

22. The first and largest competition of its kind in the world
Where we are today …

23. The first and largest competition of its kind in the world
Where we are today …

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