ibmc competition booklet 2014

2014 COMPETITION BOOKLET

HARVARD UNIVERSITY STANFORD UNIVERSITYBRIGHAM YOUNG UNIVERSITY

FIRST AND LARGEST INTERNATIONAL BUSINESS MODEL COMPETITION

IBMC STATISTICS

2011-2014

20142013

1,383 Teams

143 Schools

$357,000 Awarded

10 Countries

59 Teams

7 Schools

1 Country 45 Teams

6 Schools

2 Countries

2,418 Teams

209 Schools

$755,600 Awarded

18 Countries

20122011

Bangladesh, Cambodia, Canada,

Chile, England, Laos, Myanmar, Thailand,

USA, VietnamUSAENGLAND, USA

Bangladesh, Cambodia, Canada,

Chile, China, England, Finland, France,

Indonesia, Japan, Laos, Mexico,

Myanmar, Switzerland, Tanzania,

Thailand, USA, Vietnam.

Jef f Brown

Managing Di rector

je f f [email protected]

801.367.3936

Ryan Dav is

2014 Student Di rector

r yancra igdav is@gmai l .com

208.406.3068

Pavel Yurev ich

2015 Student Di rector

pave l .yurev ich1@gmai l .com

801.505.0724

IF YOU HAVE ANY QUESTION REGARDING

THE COMPETIT ION, PLEASE CONTACT ONE

OF THE FOLLOWING IBMC ADMINISTRATORS.

2FOUNDERS MESSAGE

Four years ago we created the Internat ional Business Model Competi t ion to teach and reward students about a better way to be an entrepreneur. Drawing on ideas from Customer Development, Lean Startup, Design Thinking, and other paradigms we emphasized the central i ty of test ing your assumptions with customers rather than sel l-ing hot a i r business plans.

Today the competi t ion has attracted over 2000 teams from over 200 universi t ies around the world. We added nat ional competi t ions in Canada, Finland, France, Jamaica, Japan, and Mexico. We also had many new universi t ies jo in the competi t ion, sending the best of their best to jo in us. These new fr iends jo in our exist ing fr iends and part-

ners in what has truly become a global revolut ion.

We hope to cont inue the transformation of how we teach entrepreneurship. Last year we took the competi t ion to Harvard Business School. This year, we return to our home turf , Br igham Young Universi ty, adding more content, speakers, and tra in ing to support our goal of a l l learning together how to become great entrepreneurs. Next year we hope to hold the competi t ion at Stanford Universi-ty. Regardless of the locat ion, we hope that we can al l work together to develop this new science of entrepreneurship and together make the world a better place through val idated innovat ion.

NATHAN FURRFounderInternat ional Business Model Competi t ion

CONTENTS COMPETIT ION INFOCOMPETING TEAMSJUDGINGHISTORY

5

13

27

31

2014 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

2014 INTERNATIONAL BUSINESS MODEL COMPETIT ION I 5

COMPETIT ION INFO2014 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

SCHEDULEMAPS

PRIZES

6SCHEDULE

THURSDAY, MAY 1, 2014ta n n e r b u i l d i n g, by u ca m p u s

11:00-12:00PMTransportat ion from Marr iott Hotel to Br igham Young Universi ty

A shutt le service wi l l t ransport teams from the Marr iott Hotel to Br igham Young Universi ty campus, the locat ion for the f i rst day.

12:00-12:30PM Registrat ion and Check-In | 1st F loor Atr ium

Teams wi l l receive a name badge, competi t ion booklet , and packet of pert inent competi t ion information.

12:30-1:15PMNetworking Lunch | Open Atr ium Area

Teams wi l l have the opportunity to network with one another whi le they enjoy a del ic ious lunch of local favor i te foods.

1:15-2:00PMOrientat ion & Past Winner Presentat ion | Room 251

Teams wi l l be br ief on the presentat ion feedback session and hear f rom a member of one of last years winning teams who wi l l present about his exper ience and share valuable insights about what teams should be focusing on.

5:00-6:00PMBreak

2:00-5:00PMPresentat ion Feedback Sessions | See Sheet in Folder

Teams wi l l be assigned a room to work on their presentat ions. Dur ing the three hour block, two di fferent mentors wi l l v is i t each team to provide valuable feedback on the teams pre-sentat ion. I t is our hope that teams wi l l use the t ime between and after mentors to digest the mentors feedback and incorporate any appl icable changes.

6:00-8:00PMWelcome Dinner | Room W408/W410

Teams wi l l have the opportunity to network, l isten to a special guest speaker, and be or ient-ed on the next days act iv i t ies; in part icular the semi-f inal round judging.

8:00-9:00PMTransportat ion from Brigham Young Universi ty to Marr iott Hotel

A shutt le service wi l l t ransport teams from Brigham Young Universi ty campus back to the Marr iott Hotel .


SCHEDULE

FRIDAY, MAY 2, 2014

8:00-9:00AMBreakfast (on your own)

Teams wi l l eat breakfast on their own ( the hotel offers a f ree cont inental breakfast ) whi le the semi-f inal round judges receive or ientat ion.

9:00-12:00PMSemi-Final Round Judging | Cascade Rooms (3 rd F loor)

Teams wi l l be div ided into 5 rooms (8 teams per room) and wi l l present for 10 minutes to a panel of judges. Teams wi l l be able to watch each others presentat ions.

12:00-1:30PMLunch (on your own)

The Marr iott Hotel is located in the heart of downtown Provo with a number of great restau-rants within short walking distance.

1:30-5:30PMField Tr ip | Qualtr ics & Ancestry Off ices, Provo, Utah

Teams wi l l v is i t a few companies in the heart of Si l icon Slopes.Special Speaker Sessions | Cascade Room E (3 rd F loor)

Teams wi l l learn valuable lessons about entrepreneurship and lean startup pr inciples from two special guest speakers.

6:00-8:00PMSemi-Final Results Dinner | Cascade Rooms A-D (3 rd F loor)

Teams wi l l have the opportunity to network, l isten to a special guest speaker, and f ind out which teams wi l l be moving on to the f inals.

8:00-11:00PMFinal ist Team Mentor ing | Creek Rooms (3 rd F loor)

Final ist teams wi l l be assigned a room where they can make f inal changes to their presentat ion. Mentors wi l l be avai lable to provide valuable feedback to each team.

5:30-6:00PMBreak

SATURDAY, MAY 3, 2014

9:00-10:00AMBreakfast (on your own)

Teams wi l l eat breakfast on their own ( the hotel offers a f ree cont inental breakfast ) whi le the f inal round judges receive or ientat ion.

10:00-12:00PMFinal Event | Bal l room C (2nd Floor)

The top four teams wi l l compete for the $25,000 f i rst place cash pr ize and t i t le of Global Champion.

12:00-2:00PMVIP Networking Recept ion | North Prefunct ion Area (2nd f loor)

Al l teams, mentors, judges, school reps, sponsors, and special guests are invi ted to a post-f inals networking recept ion. Lunch wi l l be provided.

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

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

8Brigham Young UniversityTanner Building

Marriott Hotel

MAPS PROVO CITY


MAPSTANNER BUILD ING

1st f loor

2nd f loor

3rd f loor

4th f loor

10

MAPSUTAH VALLEY CONVENTION CENTER

1st F loor

2nd Floor

3rd F loor


PRIZES

1ST PLACE2ND PLACE3RD PLACE4TH PLACE5TH - 8TH PLACE9TH - 40TH PLACE

$25,000$10,000$7,500$5,000$2,000$1,000

The IBMC Trophy

Cash Awards

The IBMC Champions

Do you have what i t takes to br ing the Internat ional Business Model Competi t ion trophy to you school? The IBMC trophy travels each year to the school of the IBMC champion. Current ly the trophy resides at Br igham Young Universi ty s ince last year Owlet Baby Monitors, a team from BYU, took f i rst place in the competi t ion at Harvard. The 2014 competi t ion is a new year and a new champion wi l l be crowned. So br ing your best to this competi t ion and you may br ing back more than just pr ize money.

Kurt Workman, Jordan Monroe, Jacob Colbin, Tanor Hodges, Zach Bomsta, Adam Rogers

Ken Frei

Zachay Al laun, Jorge Espinoza

2013

2012

2011

Owlet Baby Monitors

XoomPark

Gamegnat

Brigham Young Universi ty

Br igham Young Universi ty American Universi ty


Adept Advancements

Broad Analy t ics

CoP i lo t

easybiodata

Grypshon

Horsecom

Kiband

Novo Saddles Systems Inc.

PowerP i tch

Right S ide Heal th

SpyneTech

Tympanogen

Vol leyMetr ics

Woozy

AutoHome

Catchbox

Dulces Nueces

Genius Secur i ty

Herboo Enterpr ise

Ins ight Engine

Kr icket

OneWay

Progenerat ion Energy

RunForm

Swaddle-Mi-Bi l i

Ver i tas Medica l , LLC

Wheel-Go-Round

Bamboo Plaques

Caydian

E-Kaia

Global Serv ice Par tnersh ips

Hinds ight Heal th Inc.

Iowa Adapt ive Technolog ies

Legal lyL ink

Panacea

Quar terwear

Sparkg ig

Teknica l ly

VeXeRe.com

Whi teL ight Medica l

COMPETING TEAMS2014 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

14

COMPETING TEAMS

Adept AdvancementsRensse laer Po ly techn ic Ins t i tu te

Monter rey Ins t i tu te o f Techno logy

Dosh isha Un ivers i t y

AutoHome

Bamboo P laque

Have you ever lost cel l-phone recept ion in a tunnel , subway, or e levator? That is because convent ional wireless techniques do not pass through metal wal ls effect ively. We have developed a breakthrough tech-

nology that wi l l convey vi ta l information wirelessly through thick sol id barr iers.

AutoHome is creat ing an adapter for l ightbulbs and other e lectronic devices that communicates with a

users smartphone and enables them to monitor and control these devices wirelessly.

Bamboo Plaque is an innovat ive bui lding mater ia l company offer ing environmental ly-fr iendly, biodegradable,

and health conscious bui lding mater ia ls to reduce noise levels and contr ibute to qual i ty of l i fe.


Br igham Young Un ivers i t y

Aa l to Un ivers i t y

Stan ford Un ivers i t y

Broad Ana ly t ics

Catchbox

Cayd ian

Broad Analyt ics uses WiFi technology to do indoor tracking in museums. The company was created to address the pain of a l locat ing mi l l ions of dol lars for operat ions and exhibit creat ion based on hunches. With a system in place, museum directors and boards wi l l no longer need to make decis ions based on in-tui t ion only, but on appl icable data.

Catchbox makes the worlds f i rst throwable microphone, making audience interact ion easier and more effect ive. The soft wireless microphone can be easi ly passed from one audience member to the next, even in crowded conferences. This not only makes asking quest ions faster and easier, but a lso makes events fun. The customizable outer cover a l lows customers to promote their own brands and sponsors in a unique way.

The Caydian Dream del ivers the f i rst ever cure for s leep terrors. Based on publ icat ions in leading journals, including the Br i t ish Med-ical Journal , i t uses bal l istocardi-ography-based sleep monitor ing and a propr ietary s leep modif icat ion system to completely e l iminate the s leep terrors.

COMPETING TEAMS

BOcatch

16

COMPETING TEAMS

CoPi lo t

Du lces Nueces

E-Ka ia

We help studios and startups pi lot their ideas/scenes/episodes

via web video to get feedback and gain customers before they launch. We see CoPi lot growing through word-of-mouth market ing campaigns with key inf luencers onl ine that have signi f icant share-of-voice in the customer segments we are target ing, customers invi t ing fr iends and connect ions to the platform, and co-content marketing efforts with our partners that cater to the same customer segments.

Dulces Nueces creates a handmade, gourmet, 100% natural pecan nut candy. We use unique, a l l organic packaging for

a l l of our candies.

At E-Kaia, which means Earth energy in Greek, we have created a unique biological c i rcuit that channels energy from plants to generate electr ic i ty. We are passionate about developing clean and natural tech-nologies that solve real-world problems.

Pont i f ica l Catho l ic Un ivers i t y o f Ch i le




easyb iodata

Gen ius Secur i t y

G loba l Ser v ice Par tnersh ips

easybiodata is an onl ine platform for Indian singles around the world in search of mari ta l candidates. Our mission is to re imagine the arranged marr iage process in India by evolv ing the spousal search process to give more power of control and choice to

prospect ive spouses whi le respect ing the culture and tradit ional values by keeping fami l ies involved.

The Genius Home Secur i ty system offers renters, homeowners, and smal l business owners an al l- in-one secur i ty product, including features such as motion detect ion, cameras, and sirens control led by a smartphone. Users can purchase one or mult ip le cei l ing-mounted cameras that sync wirelessly to a base stat ion that re lays images of intruders instant ly to the homeowner. Homeowners then control the response, e l iminat ing fa lse alarms. Furthermore, Genius el iminates the

need for t radit ional secur i ty, because i t enables users to monitor their own home se-cur i ty without cal l centers or contracts. I t b lows away other non-contractual secur i ty systems by offer ing discreet, wireless cameras at hal f the pr ice of i ts competi tors. I t s not just secur i ty. I t s Genius.

Global Service Partnerships pro-vides opportunit ies for students, educators, fami l ies, and profes-sionals to engage in internat ional service in Bel ize. The service focuses on Engl ish language development projects, partner ing with Bel izean elementary schools and educators.

COMPETING TEAMS

Boise Sta te Un ivers i t y


Har vard Bus iness Schoo l

18

COMPETING TEAMS

Grypshon Indust r ies

Herboo Enterpr ise

Hinds ight Hea l th Inc.

Grypshon Industr ies bel ieves in maximizing the eff ic iency, product iv i ty and safety of our members in the mi l i tary. Two products from our l ine of innovat ive aerospace safety equipment, the Grypshon mat and the

Grypshon Flexible Tool Tray, are safe, non-corrosive, and convenient surfaces on which mechanics can stand or place tools. This reduces the incidence of fa l l ing from the jet dur ing maintenance and provides a safeguard against anything being left inside the jet .

Herboo Enterpr ise is a herbal cosmetics company, that only uses plants to make

al l our cosmetics. We current ly have a two-in-one shampoo and condit ioner that helps to prevent dandruff made from Jamaican sorrel . Our aim is to make al l cosmetics Herbal .

At Hindsight Health we are solv ing the pain associat-

ed with medical appointment wait t imes using an innovat ive real-t ime SMS appointment update service. We inform pat ients on the status of their medical appointments and indicate whether their doctor is running behind schedule. I f so, we provide pat ients with a revised appointment t ime est imate. Hindsight Health gives pat ients the freedom to more effect ively plan their t ime around a medical appoint-ment. The solut ion provided by Hindsight Health can be extended to other industr ies such as dent istry, veter inary medicine, physiotherapy, and many more.

Univers i t y o f Wiscons in-Mi lwaukee

Nor thern Car ibbean Un ivers i t y

Da lhous ie Un ivers i t y


Horsecom

Ins ightEng ine

Iowa Adapt i ve Techno log ies

Horsecom, wireless headphones for horses and r iders. Horsecom invented a technology and an automated methodology to improve horse wel lness and r ider performance. We are working with famous scient ists and r iders to val idate and develop i t .

Mock Tr ia l is a competi t ion where students (High School through Law School ) pract ice law. Our appl icat ion gives students a competi t ive advantage through data dr iven ana-lyt ics on team performance as wel l as resources which im-prove their abi l i ty to perform in a courtroom. We wi l l grow

in the future by providing this courtroom performance enhancing technology to pro-fessional attorneys.

Iowa Adapt ive provides devices and consult ing services for caregivers to enable disabled pat ients to cal l and communicate their needs. More than 25 years of c l in ical research was ut i l ized to create the Iowa SmartSwitch, a device that a l lows pat ients who are vo-cal ly and physical ly impaired to cal l a nurse and communi-cate v ia speech generators and other iPad apps. By enhanc-ing pat ient-provider communicat ion, our solut ions wi l l help

hospita ls and nursing faci l i t ies reduce the rate of adverse medical events, improve evaluat ion metr ics such as posit ive medical outcomes and pat ient sat isfact ion, and more easi ly meet hospita l accreditat ion standards.

COMPETING TEAMS

ESSEC Bus iness Schoo l

Un ivers i t y o f Ca l i fo rn ia-Santa Barbara

Un ivers i t y o f Iowa

20

COMPETING TEAMS

Kiband

Kr icket

Lega l l yL ink

Kiband is a chi ld safety wristband that con-nects to a parents smartphone, and when the chi ld is too far away the wristband and

the phone alert . Ut i l iz ing Bluetooth 4.0 (BLE) technology Kiband transforms a smartphone into a mobi le geo-fence that can be toggled for di fferent s i tuat ions such as a mal l or amusement park, at c lose proximity, or a playground, where greater f reedom for the chi ld to explore can be afforded. I t is an intui t ive and kid-fr iendly way to keep chi ldren safe and parents worry f ree.

Kr icket is an anonymous way to text your neighbor please quiet down. By imple-ment ing this service in a ci ty or town, the burden on the pol ice for noise complaints wi l l be reduced. Our service al lows neigh-

bors to contact each other direct ly whi le st i l l keeping some level of pr ivacy. In the future, Kr icket wi l l be a staple of col lege campuses and apartment complexes. This wi l l help bui ld a user base for our company, and wi l l u l t imately lead into Rate and Rent.

We are Legal lyLink, an onl ine document preparat ion service

geared to solv ing the pain of Y-Generat ion entrepreneurs. I t is obvious to see the trend of the entrepreneur ia l spir i t in people ages 18-34. The new cool , h ip thing to do is not be a DJ, or a chi ld actor anymore, but rather to start your own business and be your own boss. Legal Zoom is the monopoly in the market; they completely ignore the not ion that 29% (and growing) of th is 26 bi l l ion dol lar industry is made up of indiv iduals between the ages of 18-34. Being more cost competi t ive and resourceful than LegalZoom, along with offer ing a platform where members can interact with each other and with attorneys wi l l a l low us to capture this hip demographic and scale very quickly.


Qu inn ip iac Un ivers i t y

Un ivers i t y o f Cent ra l F lo r ida


Novo Sadd les Systems

OneWay

Panacea

We are Novo Saddles Systems Inc. We manufacture personal ized bike seats that f i t the unique shape of every r ider in order to opt imize eff ic iency.

OneWay is creat ing a mobi le app that helps users know which parts of a given ci ty are safe. OneWay wi l l g ive people peace of mind whi le they explore the area around them.

Panacea is a mobi le app bui l t around SMS technology to f ight the US$130 mi l l ion counterfe i t medicine industry in Bangla-desh. Using our service you can tel l i f the drugs you buy are real or not. We pr int random unique codes on every medicine pack of our partner pharmaceut icals. Customers can then send us a request to ver i fy the code wri t ten on the pack to determine i ts authent ic i ty.

COMPETING TEAMS

Univers i t y o f Windsor


Un ivers i t y o f Dhaka

22

COMPETING TEAMS

PowerP i tch

Progenerat ion Energy

Quar te rwear

PowerPitch del ivers super ior, cost-effect ive onl ine communicat ion tra in ing tools to large organizat ions, ut i l iz ing an engaging 3D platform. PowerPitch enables organizat ions to increase the effect iveness of com-municat ion tra in ing programs through an engaging onl ine platform that cont inuously re inforces learned ski l ls . The PowerPitch s imulator monitors the users voice, speech, body language, and eye contact, whi le del iver ing real-t ime feedback based on research-backed best pract ices. User-generated data al lows organizat ions to measure indiv idual progress and ski l l retent ion.

Progenerat ion Energys two pronged approach helps custom-

ers in two ways. First , by reducing a customers current en-ergy needs, lowering their ut i l i ty expenses. This may include simple changes in l ight ing, or more intensive structural changes to the bui lding. Second, we are cert i f ied to design and instal l solar systems which generate addit ional revenue for those cl ients. Progenerat ion Energy is the only company in the Texas, ERCOT region that holds engineer ing, procure-ment and construct ion (EPC) services specif ic to commercial energy consult ing in-house.

We are an onl ine-retai ler of l imited-edit ion t-shir ts that ra ise awareness, support and capita l for the worlds greatest causes and those who ad-dress them. We partner and bui ld 52 char i ty t-shir t cam-paigns per year (1 per week). For every tee sold we donate 25% of the purchase to that weeks char i ty. Quarterwear was founded on the pr inciple that indiv iduals, char i t ies and non-prof i ts solv ing the worlds most fundamental and di ff i -cult problems should be given more than chapters in future history books; they should be rewarded and supported to-day. We bel ieve that some problems, some causes, are just too big to be tackled alone. We work alongside the worlds problem-solvers to f ind solut ions to societys most problematic issues.

Cent ra l F lo r ida

Duke Un ivers i t y

Un ivers i t y o f Ar i zona


Right S ide Hea l th

RunForm

Sparkg ig

We make a product cal led Steps, c l ient management software for health and wel lness coaches. I t helps their c l ients get better results, helps coaches run their business more easi ly and effect ively, and provides us with useful data about what is and isnt effect ive in gett ing cl ients to change their habits. In the future, we want to be the worlds go-to resource for improving health through behavior change.

RunForm is the mobi le running coach. Our ul t ra thin insole sends real-t ime running data to your smartphone, and our mobi le app gives audible coaching t ips as you run to help you im-prove your form and change the way you run.

Sparkgig is a community marketplace that seamlessly connects event organizers with ta lented l ive performers. For up and coming performers, Sparkgig is a tool to connect direct ly with local event opportu-nit ies. For event organizers, Sparkgig is a way to easi ly connect with re l iable l ive entertainers in the r ight area, of the r ight k ind and at the r ight pr ice. Sparkgig wi l l become the global go to dest inat ion for anyone seeking

l ive entertainment for a wedding, pr ivate party or corporate event.

COMPETING TEAMS

Health is a verb

runform

Harvard Bus iness Schoo l


Un ivers i t y o f Water loo

24

COMPETING TEAMS

SpyneTech

Swaddle-mi-B i l i

Tekn ica l l y

SpyneTech is a company founded by engineers around the idea of an act ive back brace. They are developing a unique back brace that provides smart support to customers in need. Their goal is to reduce back pain and back in jur ies by designing a brace that th inks for the user in order to el iminate the chance of in jury and pro-tect the spine.

Swaddle-mi-Bi l i is a wearable, portable, low-cost t reatment for neonatal jaundice. Jaundice is a disease that affects 60% of newborns that can cause mental retardat ion or even death i f not t reated immediately after bir th. Current t reatments are cumbersome and require the baby to be away from i ts mother, causing a stressful exper ience. Swaddle-mi-Bi l i pairs current phototherapy technology with a wearable swaddle so that the baby can be held and breastfed dur ing treatment whi le promoting mother- infant bonding.

Teknical lys f lagship product Webpl io translates complex

web analyt ics into easy to understand information. Sheets of data become gorgeous graphs. Easy to understand recommendat ions replace hours of daunt ing analysis. With Webpl io, informed decis ions can be made on how to improve a websites effect iveness. Webpl io launches in closed Beta in May 2014 and wi l l launch to smal l business owners everywhere later th is summer.

San D iego Sta te Un ivers i t y

Mich igan Sta te Un ivers i t y

Wi l f r id Laur ie r Un ivers i t y


Tympanogen

Ver i tas Med ica l LLC

VeXeRe.com

There are over 700,000 cases of perforated eardrums in the US alone, many due to compl icat ions from chronic ear infect ions. Current therapies require invasive surger ies with success rates as low as 35%. Our dynamic and energet ic team of engineers and physicians is commercial iz ing a gel patch we developed at Tulane Universi ty cal led Perf-Fix, for non-surgical repair of these eardrum perforat ions. A prototype we developed was tested in an animal model. This gel patch more than doubled the closure rate of these perforat ions whi le act ively f ight ing infect ion.

Ver i tas Medical LLC is a start-up company focused in the catheter medical device market. Catheters are special ized plast ic tubing used by physicians to gain access to internal areas of a pat ients body. Whi le these catheters are very important to medicine, unfortunately they have a high incidence for infect ion. We are developing a method to stop this by using a high intensity laser which

ki l ls bacter ia residing on the catheter. Our product l ine is a catheter insert ion and ster i l izat ion ki t that wi l l be sold direct ly to hospita ls or as a prescr ipt ion for at home use by pat ients with long term in-place catheters.

Buses are an important means of t ransport in Southeast Asia, part icular ly in Vietnam, where 24 mi l l ion v is i tors travel by bus annual ly. However, there is no comprehensive system that integrates mult ip le bus agencies, supports searching and booking bus t ickets across Southeast Asia, or provides accurate and updated information on bus travel l ing. To deal with these issues,

VeXeRe.com seek to provide a comprehensive onl ine bus booking platform across mult ip le bus operators in Southeast Asia and a mult i- l ingual app where passengers can easi ly search and book t ickets.

COMPETING TEAMS

Tulane Un ivers i t y

Un ivers i t y o f Utah

Thunderb i rd Schoo l o f G loba l Management

26

COMPETING TEAMS

Vol leyMet r ics

Whee l -Go-Round

Whi teL ight Med ica l

Woozy

Anyone who has played competi t ive sports knows how important stats, analysis, and post-game f i lm are; they are an excel lent way to improve performance on both personal and team levels, yet a dedicated staff spends 20-30 hours a week on this task to push out r ich, thorough analysis. Vol leyMetr ics wants to help solve that problem through a SAaaS (Sports Analyt ics as a Service) model. We are business intel l igence for sports offer ing youth, amateur, h igh school, col lege, and professional sports teams ful ly indexed game footage within 6-36 hours of uploading.

Approximately 1 mi l l ion wheelchair users in Thai land and 88 mi l l ion around the world have di ff icul ty in f inding useful information needed for t ravel l ing. Many choose to avoid gett ing out of the house because of the

obstacles they have to face when going to places they do not know and the worry to be a burden for their compan-ions whi le t ravel l ing. Wheel-go-round is created to col lect and share up-to-date information of places that have necessary accessible faci l i t ies such as ramps, toi let , and reserved parking for wheelchair users.

White Light Medical is a startup med-ical device f i rm that is developing a low-cost, smarter pedicle probe, Ac-cuSpineTM, for the accurate placement of pedicle screws in spinal fusion sur-

ger ies. Our team aims to reduce screw breach rates, oper-at ing room t ime and radiat ion exposure, therefore l imit ing the cost of the procedure whi le enhancing safety for both pat ients and doctors.

Woozy is solv ing pains people exper ience whi le t ravel ing. We provide a rentable personal space that includes a

recl in ing chair, a movable table, Wi-Fi , and an out let . Thus, we wi l l be able to make travel ing over long distances a more enjoyable and comfortable exper ience.


Thammasat Un ivers i t y

Johns Hopk ins Un ivers i t y



JUDGING2014 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

JUDGING CRITERIAFINAL JUDGES

SEMI-F INAL JUDGES

28

JUDGING CRITERIA

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 dont 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 customersin 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.


STEVEN BLANKAfter 21 years in 8 high technology companies, Steven Blank ret i red in 1999. His last company, E.piphany, was co-founded in his l iv ing room in 1996. Blank also founded two semiconductor companies (Zi log and MIPS Computers) , a workstat ion company (Convergent Technologies) , a consult ing st int for a graphics hardware/software spinout (Pixar) , a supercomputer f i rm (Ardent) , a computer per ipheral sup-pl ier (SuperMac), a mi l i tary intel l igence systems suppl ier (ESL), and a v ideo game company (Rocket Science Games).

In ret i rement, Blank wrote Four Steps to the Epiphany, a book about bui ld ing ear ly stage companies. His latest book, The Startup Owners Manual integrates 10 years of new knowledge. Blank now teaches entrepreneurship to both undergraduate and graduate students at U.C. Berkeley, Stanford Universi ty and the Columbia Universi ty/Berkeley Joint Execut ive MBA program.

F INAL JUDGES

ALEX OSTERWALDER

NATHAN FURR

Dr. Alexander Osterwalder works as an independent author, speaker and advisor with a part icular focus on business model innovat ion, strategic management and management innovat ion.

Besides his independent act iv i t ies he is partner at Arvet ica, a consult ing bout ique focusing on the pr ivate banking and wealth management industry. His role includes business development and the management of a peer knowledge exchange platform for senior execut ives in pr ivate banking (www.pr ivatebankinginnovat ion.com).

Previously Dr. Osterwalder founded and ran BusinessModelDesign.com, a consult ing bout ique act ive in strategy consult ing with a focus on business model innovat ion. Dr. Osterwalder has a Ph.D. in Man-agement Information Systems (MIS) f rom the Universi ty of Lausanne, Switzer land, where he worked as a teaching and research assistant and publ ished extensively. He also developed and taught a seminar on Information and Communicat ion Technologies for Development ( ICT4D).

Nathan Furr earned his Ph.D. at Stanford Universi ty in the Stanford Technology Ventures Program and is current ly an assistant professor of entrepreneurship at Br igham Young Universi ty. Nathans research focuses on market development and ear ly stage entrepreneur ia l processes. In part icular, Nathan has been working on ideas around Customer Development, Lean Startup, and the Nai l I t then Scale I t methodologies which propose processes that entrepreneurs can use to dramatical ly t ransform their business models. In addit ion, Nathans other research examines issues of change, innovat ion, cognit ion and strategy in entrepreneur ia l and dynamic environments.

Professional ly, Nathan has acted as the founder or advisor to startups in web 2.0, c lean technology, retai l , professional service, and f inancial services industr ies. In addit ion, Nathan is current ly on the investment board of the Kickstart Seed Fund, an innovat ive ear ly-stage fund. Nathan was also a con-sultant at Monitor Group, an internat ional strategy consult ing f i rm, working with senior execut ives on a range of strategic and market discovery in i t iat ives including strategy development, organizat ion-al change, technology commercial izat ion, communicat ion processes, strategic planning, competi t ive analysis, and market ing. In addit ion to his doctoral studies, Nathan has a BA, MA, and an MBA.

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F INAL JUDGES

JOHN R ICHARDSJohn Richards is an entrepreneur, venture investor, execut ive manager, and educator. His act iv i t ies have included founding, running, sel l ing, and invest ing in several enterpr ises. He mentors entrepreneurs frequent ly. He is head of operat ions for Google Fiber - Provo, Utah, working on one of the worlds great intrapreneur ia l ventures. Previously, he has spent over a decade teaching entrepreneurship at Br igham Young Universi ty in Provo, Utah where he also helped br ing the Rol l ins Center for Entrepre-neurship & Technology to global prominence. He was managing partner of UtahAngels, a venture invest ing group. He co-founded BoomStartup, a tech accelerator in Utah,

and also founded the Utah Student 25. Previously, he was president of a publ ishing company in Seatt le, Washington and later started a company that led to an in i t ia l publ ic offer ing and a mult i-bi l l ion- dol lar valuat ion ( InfoSpace). John is a f requent speaker at conferences and other events. He and his fami ly reside in Provo, Utah.

JAMES CLARKE

GAVIN CHRISTENSEN

James Clarke is the Managing Partner of Clarke Capital Partners, a Growth Equity and Alternat ives Fund. Within the Clarke Alternat ives portfol io, the team has acquired signi f icant ownership of ContourHD where he serves as Chairman of the Board. Pr ior to CCP, he directed Yel lowstone Partners Pr ivate Equity & Alternat ive Assets and remains an aff i l iate. In 2001, James founded CLEARLINK, based in Salt Lake City, Utah, working as CEO, then Chairman. After near ly 10 years in onl ine retai l , Jamess stake of CLEARLINK was acquired in ear ly 2011 by Pamlico Capital ( formerly Wachovia) . CLEARLINK was honored in 2008 as Utahs 4th fastest growing

company and is a mult i-year INC. 500 recipient. James has been recognized as a vSpring 100 Entre-preneur, an MWCN Utah 100 Honoree on mult ip le occasions, and as a Utah Business Magazine 40 Under 40 business leader.

Since founding Kickstart Seed Fund in 2008, Gavin has been responsible for a l l aspects of managing the f i rm in addit ion to leading due di l igence and investment decis ions in conjunct ion with Kickstart s Investment Committee. Pr ior to Kickstart , Gavin was an analyst, associate and pr incipal at vSpring (now Signal Peak). Before vSpring Capital , Gavin also worked as a Vert ical Strategy Associate for Google and as a consultant in Monitor Groups Cambridge off ice where he advised cl ients on a range of strategic, operat ional , and organizat ional improvements. Gavin began his career at Fidel i ty Investments as an investments representat ive.

SEMI-F INAL JUDGES2014 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

Tracy L iv ingston Greg Peterson

Amy AndersonBrad Hagen

Danie l AppelTom Karren

Corb in ChurchSid Krommenhoek


HISTORY2014 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 & SPONSORSDURANT SCHOOL OF ENTREPRENEURSHIP

WHAT IS THE IBMCWHAT WINNING TEAMS DO

SUCCESS STORIES

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DURANT SCHOOL OF ENTREPRENEURSHIP

The Internat ional Business Model Competi t ion represents the f i rst competi t ion of i ts k ind in the world and is part of a ground breaking approach to entrepreneurship that focuses on the process of improving the inputs into entrepreneurship rather than the outputs. Specif ical ly, rather than focusing on outputs l ike business plans or fundrais ing, th is new approach focus-es on the key tasks of test ing assumptions in the f ie ld and developing val idated business models which is manifest through deep customer interact ion and tract ion. IBMC SPONSORThe IBMC is sponsored by the Kevin and Debra Rol l ins Center for Entrepreneurship & Technology in the Marr iott School of Management at Br igham Young Universi ty. The Marr iott School of Managements entrepreneurship program is consistent ly ranked as one of the top programs in the country each year. IBMC FOUNDERSNathan Furr (Ph.D., Stanford; Entrepreneurship Professor, BYU)Steven Blank (Entrepreneurship Professor, UC Berkley; Lecturer, Stanford)John Richards (Entrepreneurship Professor, BYU)Scott Petersen (Director, Center for Entrepreneurship & Technology, BYU)

The Business Model Competi t ion is inspired by the stor ies of Al f red Sloan and Bi l ly Durant. Al though many people know Alfred Sloan as the CEO of General Motors and the father of the modern corporat ion, few people know of Bi l ly Durant, the creat ive entrepreneur that founded General Motors, who grew revenues into the hundreds of mi l l ions before being ousted by the board for being too maver ick.

The Durant vs Sloan story is iconic because i t mirrors the development of global economies and business schools after the industr ia l revolut ion, when large f i rms displaced entrepreneur ia l f i rms and educat ion became focused on theory and pract ice for managing large f i rms.

However, the tact ics for managing large f i rms often focus on known problems and solut ions whereas new ventures (whether in startups or exist ing f i rms) face a di fferent chal lenge: un-known problems and unknown solut ions. This means that the techniques to tra in Sloan managers may not work wel l to tra in Durant entrepreneurs. Despite the value that Sloan managers add to society, the world needs the brash innovat iveness of Durant entrepreneurs tocreate the next wave of innovat ion. Recent research has begun to invest igate this new approach to entrepreneurship educat ion, the v i r tual concept known as the Durant School of Entrepreneurship.

The IBMC is current ly co-hosted by Br igham Young Universi ty, Harvard Universi ty, and Stanford Universi ty.

IBMC FOUNDING & SPONSORS


Over 85 percent of new businesses fa i l within a few years, often because they try to plan their way to success. I t s t ime to change.

The Internat ional Business Model Competi t ion represents a radical departure from the past and the crest of a new paradigm in entrepreneurship. The IBMC is not a business plan competi t ion. Rather than focusing on developing a robust business plan, complete with f inancials and sl ick presentat ions, the business model competi t ion focuses on ident i fy ing and precisely def in ing the assumptions of the new venture, test ing those assumptions in the f ie ld, and then pivot ing (changing) based on the lessons learned. The IBMC rewards students for:

1. Breaking down ideas into key business model assumptions2. Gett ing outside the bui lding and test ing assumptions with customers3. Applying customer development and lean startup pract ices to nai l the pain and solut ion4. Learning to pivot (change) unt i l arr ival at a customer-val idated business model

Ult imately we bel ieve this wi l l dramatical ly improve the success rate of new ventures. The IBMC is the f i rst internat ional competi t ion of i ts k ind and is open to al l students enrol led at an accredited inst i tut ion of h igher educat ion anywhere in the world. Each year thousands of student teams from hundreds of schools al l over the world part ic ipate.

WHAT IS THE INTERNATIONAL BUSINESS MODEL COMPETIT ION?

WHAT WINNING TEAMS DOFIND A PROBLEMFind a big customer problem worth solv ing and wri te down al l your key hypotheses about the business model to solve this problem. We recommend that you use Alex Osterwalders Business Model Canvas as a scorecard to track your assumptions and the changes that you make. NAIL THE PA INGet outside the bui lding and interview customers face-to-face to understand the job cus-tomers are try ing to do, their current pain, and how they solve that pain. Pivot when you discover you are wrong. NAIL THE SOLUTIONDevelop a minimum viable product prototype and get outside the bui lding face-to-face with customers to test your v is ion of the solut ion. Pivot when you discover you are wrong. Re-peat these tests unt i l you nai l the solut ion. NAIL THE GO-TO-MARKET STRATEGYGet outside the bui lding to understand the end-to-end customer buying process, and the market communicat ion and distr ibut ion infrastructure. Ident i fy the leverage points. Pivot. NAIL THE BUSINESS MODELUse the facts discovered to val idate the revenue model for the business. PIVOTThroughout the process learn to change course whenever you discover you are wrong. Remember, the goal is val idated learning about the business model assumptions and fai l ing ear ly is a success compared to fa i l ing late.

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Owlet Baby Care

Bosse Too ls

The Owlet Smart Sock is a device that f i ts on a babys ankle and monitors i ts v i ta l s igns. Convenient ly del ivered to a smartphone, parents have access to their chi lds heart rate, skin temperature, oxygen levels, and sleeping posit ion. This device gives parents a piece of mind and conf idence that their baby is doing wel l .

After winning last years IBMC, Owlet Baby Care has gained signi f icant t ract ion. The company has successful ly run a crowdfunding campaign and pre-sold $300,000 worth of devices. Just recent ly Owlet ra ised $1.85 mi l-l ion from mult ip le f i rms including ff Venture Capital and Eniac Ventures. The company also completed the RGA Connected Devices Accelerator through Tech Stars.

Companys VP of Sales, Jordan Monroe, attr ibutes their val idat ion-dr iven approach to product development to the IBMC. He says, The IBMC taught us how crucial i t is to st ick close to the customer and to make product decis ions based on their v iews. I f the customer is not involved, the product runs a r isk of being unwanted. The next few months wi l l be very busy for Owlet Baby Care as they prepare to ship the f i rst run of their product to customers.

Bosse Tools is a startup company that is changing hardware tools through er-gonomics. They are transforming construct ion, agr iculture, landscaping, and home-gardening. Their or ig inal product innovat ion was an ergonomical ly designed shovel with a rotat ional handle, re inforced shaft , and custom centered foot step. After competing in the IBMC, Bosse Tools launched a successful crowdfunding campaign on Kickstarter and raised over $64,000. The company has also been featured in dozens of nat ional news media out lets.

Company founder, Stephen Walden, says that the biggest th ing hes learned so far with entrepreneur-ship and innovat ion is to learn from everyone. Walden explains that no matter who you are ta lk ing to, everyone you meet becomes free information that shapes your success. Bosse Tools current ly

manufactures ergonomic spade, snow, and f lat head shovels. But Bosse is not just a shovel company. They have plans to create everything from special ized construct ion tools to gardening equipment al l benef i t t ing from our ergonomic designs. Al l of these tools wi l l eventual ly be avai lable with both rotat ional and stat ionary handles.

SUCCESS STORIES

owletcare.com

bossetoo ls .com

BABY MONITORS


F iberF ix f iber f i x .comFiberFix is the worlds strongest repair wrap. Based on the orthopedic cast ing tape that doctors use to f ix broken bones, FiberFix has a unique resin and f iber structure that hardens l ike steel and makes i t 100x stronger than duct tape. Fiber-Fix can be used for a l l types of household repairs f rom broken shovel handles to leaky pipes. Dont replace i t ; f ix i t for good with FiberFix.

Before competing in the 2013 IBMC, FiberFix was in about 100 stores. Now FiberFix can be found in over 10,000 stores across the US and internat ional ly and is cont inuing to grow on average of about 100 stores per week. FiberFix can now be found in 34 di fferent countr ies, including Norway, Austral ia, South Afr ica and Azerbai jan.

Spencer Quinn, CMO and Co-Founder at FiberFix, says that, the business model approach is our business. Weve already decided to rol l out new products based off of the cont inual feedback we get f rom customers. Our abi l i ty to rapidly pivot in the development of new products has given our smal l company a competi t ive advantage over players that have been in the industry for years.

FiberFix is rol l ing out new products to support the FiberFix brand including the Fi-berFix Patch, FiberFix Heat Wrap and FiberFix Screen Mend and a secret product which wi l l be revealed in ear ly 2015.

SUCCESS STORIES

A SPECIAL THANKS TO OUR SPONSORS

ALTA VENTURES

KICKSTART SEED FUND

SPACE MONKEY

FINLANDCANADA JAPANJAMAICA

2014 QUALIFIER COMPETITIONS

businessmodelcompetition@gmail.comwww.businessmodelcompetition.com

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