2014 COMPETITION BOOKLET

HARVARD UNIVERSITY STANFORD UNIVERSITY BRIGHAM YOUNG UNIVERSITY

FIRST AND LARGEST INTERNATIONAL BUSINESS MODEL COMPETITION
IBMC STATISTICS
2011-2014
2014 2013
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
2012 2011
Bangladesh,
Cambodia, Canada,
Chile, England, Laos,
Myanmar, Thailand,
USA, Vietnam USA ENGLAND, USA
Bangladesh,
Cambodia, Canada,
Chile, China, England,
Finland, France,
Indonesia, Japan,
Laos, Mexico,
Myanmar,
Switzerland, Tanzania,
Thailand, USA,
Vietnam.
Jef f Br own
Managi ng Di r ect or
j ef f . br own@byu. edu
801. 367. 3936
Ryan Davi s
2014 St udent Di r ect or
r yancrai gdavi s@gmai l . com
208. 406. 3068
Pavel Yur evi ch
2015 St udent Di r ect or
pavel . yur evi ch1@gmai l . com
801. 505. 0724
I F YOU HAVE ANY QUESTI ON REGARDI NG
THE COMPETI TI ON, PLEASE CONTACT ONE
OF THE FOLLOWI NG I BMC ADMI NI STRATORS.
2
FOUNDER S MESSAGE
Four year s ago we creat ed t he I nt er nat i onal Busi ness
Model Compet i t i on t o t each and reward st udent s about a
bet t er way t o be an ent repreneur. Dr awi ng on i deas f rom
Cust omer Devel opment , Lean St ar t up, Desi gn Thi nki ng,
and ot her par adi gms we emphasi zed t he cent r al i t y of
t est i ng your assumpt i ons wi t h cust omer s r at her t han sel l -
i ng hot ai r busi ness pl ans.
Today t he compet i t i on has at t r act ed over 2000 t eams f rom
over 200 uni ver si t i es around t he wor l d. We added nat i onal
compet i t i ons i n Canada, Fi nl and, Fr ance, Jamai ca,
Japan, and Mexi co. We al so had many new uni ver si t i es
j oi n t he compet i t i on, sendi ng t he best of t hei r best t o j oi n
us. These new f r i ends j oi n our exi st i ng f r i ends and par t -
ner s i n what has t r ul y become a gl obal revol ut i on.
We hope t o cont i nue t he t r ansf or mat i on of how we t each ent repreneur shi p. Last
year we t ook t he compet i t i on t o Har vard Busi ness School . Thi s year, we ret ur n
t o our home t ur f , Br i gham Young Uni ver si t y, addi ng more cont ent , speaker s,
and t r ai ni ng t o suppor t our goal of al l l ear ni ng t oget her how t o become great
ent repreneur s. Next year we hope t o hol d t he compet i t i on at St anf ord Uni ver si -
t y. Regardl ess of t he l ocat i on, we hope t hat we can al l wor k t oget her t o devel op
t hi s new sci ence of ent repreneur shi p and t oget her make t he wor l d a bet t er pl ace
t hrough val i dat ed i nnovat i on.
NATHAN FURR
Founder
I nt er nat i onal Busi ness Model Compet i t i on
CONTENTS COMPETI TI ON I NFO
COMPETI NG TEAMS
JUDGI NG
HI STORY
5
13
27
31
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON I 5
COMPETI TI ON I NFO
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON
SCHEDULE
MAPS
PRI ZES
6
SCHEDULE
THURSDAY, MAY 1, 2014
TANNER BUI LDI NG, BYU CAMPUS
11: 00- 12: 00PM
Tr anspor t at i on f rom Mar r i ot t Hot el t o Br i gham Young Uni ver si t y
A shut t l e ser vi ce wi l l t r anspor t t eams f rom t he Mar r i ot t Hot el t o Br i gham Young Uni ver si t y
campus, t he l ocat i on f or t he f i r st day.
12: 00- 12: 30PM
Regi st r at i on and Check-I n | 1
st
Fl oor At r i um
Teams wi l l recei ve a name badge, compet i t i on bookl et , and packet of per t i nent compet i t i on
i nf or mat i on.
12: 30- 1: 15PM
Net wor ki ng Lunch | Open At r i um Area
Teams wi l l have t he oppor t uni t y t o net wor k wi t h one anot her whi l e t hey enj oy a del i ci ous
l unch of l ocal f avor i t e f oods.
1: 15- 2: 00PM
Or i ent at i on & Past Wi nner Present at i on | Room 251
Teams wi l l be br i ef on t he present at i on f eedback sessi on and hear f rom a member of one of
l ast year s wi nni ng t eams who wi l l present about hi s exper i ence and share val uabl e i nsi ght s
about what t eams shoul d be f ocusi ng on.
5: 00- 6: 00PM
Break
2: 00- 5: 00PM
Present at i on Feedback Sessi ons | See Sheet i n Fol der
Teams wi l l be assi gned a room t o wor k on t hei r present at i ons. Dur i ng t he t hree hour bl ock,
t wo di ff erent ment or s wi l l vi si t each t eam t o provi de val uabl e f eedback on t he t eams pre-
sent at i on. I t i s our hope t hat t eams wi l l use t he t i me bet ween and af t er ment or s t o di gest
t he ment or s f eedback and i ncor por at e any appl i cabl e changes.
6: 00- 8: 00PM
Wel come Di nner | Room W408/ W410
Teams wi l l have t he oppor t uni t y t o net wor k, l i st en t o a speci al guest speaker, and be or i ent -
ed on t he next days act i vi t i es; i n par t i cul ar t he semi -f i nal round j udgi ng.
8: 00- 9: 00PM
Tr anspor t at i on f rom Br i gham Young Uni ver si t y t o Mar r i ot t Hot el
A shut t l e ser vi ce wi l l t r anspor t t eams f rom Br i gham Young Uni ver si t y campus back t o t he
Mar r i ot t Hot el .
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON I 7
SCHEDULE
FRI DAY, MAY 2, 2014
8: 00- 9: 00AM
Breakf ast ( on your own)
Teams wi l l eat breakf ast on t hei r own ( t he hot el off er s a f ree cont i nent al breakf ast ) whi l e t he
semi -f i nal round j udges recei ve or i ent at i on.
9: 00- 12: 00PM
Semi -Fi nal Round Judgi ng | Cascade Rooms ( 3
rd
Fl oor )
Teams wi l l be di vi ded i nt o 5 rooms ( 8 t eams per room) and wi l l present f or 10 mi nut es t o a
panel of j udges. Teams wi l l be abl e t o wat ch each ot her s present at i ons.
12: 00- 1: 30PM
Lunch ( on your own)
The Mar r i ot t Hot el i s l ocat ed i n t he hear t of downt own Provo wi t h a number of great rest au-
r ant s wi t hi n shor t wal ki ng di st ance.
1: 30- 5: 30PM
Fi el d Tr i p | Qual t r i cs & Ancest r y Off i ces, Provo, Ut ah
Teams wi l l vi si t a f ew compani es i n t he hear t of Si l i con Sl opes.
Speci al Speaker Sessi ons | Cascade Room E ( 3
rd
Fl oor )
Teams wi l l l ear n val uabl e l essons about ent repreneur shi p and l ean st ar t up pr i nci pl es f rom
t wo speci al guest speaker s.
6: 00- 8: 00PM
Semi -Fi nal Resul t s Di nner | Cascade Rooms A-D ( 3
rd
Fl oor )
Teams wi l l have t he oppor t uni t y t o net wor k, l i st en t o a speci al guest speaker, and f i nd out
whi ch t eams wi l l be movi ng on t o t he f i nal s.
8: 00- 11: 00PM
Fi nal i st Team Ment or i ng | Creek Rooms ( 3
rd
Fl oor )
Fi nal i st t eams wi l l be assi gned a room where t hey can make f i nal changes t o t hei r present at i on.
Ment or s wi l l be avai l abl e t o provi de val uabl e f eedback t o each t eam.
5: 30- 6: 00PM
Break
SATURDAY, MAY 3, 2014
9: 00- 10: 00AM
Breakf ast ( on your own)
Teams wi l l eat breakf ast on t hei r own ( t he hot el off er s a f ree cont i nent al breakf ast ) whi l e t he
f i nal round j udges recei ve or i ent at i on.
10: 00- 12: 00PM
Fi nal Event | Bal l room C ( 2
nd
Fl oor )
The t op f our t eams wi l l compet e f or t he $25, 000 f i r st pl ace cash pr i ze and t i t l e of Gl obal
Champi on.
12: 00- 2: 00PM
VI P Net wor ki ng Recept i on | Nor t h Pref unct i on Area ( 2
nd
f l oor )
Al l t eams, ment or s, j udges, school reps, sponsor s, and speci al guest s are i nvi t ed t o a
post -f i nal s net wor ki ng recept i on. Lunch wi l l be provi ded.
UTAH VALLEY CONVENTI ON CENTER
UTAH VALLEY CONVENTI ON CENTER
8
Brigham Young University
Tanner Building
Marriott Hotel
MAPS PROVO CI TY
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON I 9
MAPSTANNER BUI LDI NG
1
st
f l oor
2
nd
f l oor
3
rd
f l oor
4
t h
f l oor
10
MAPSUTAH VALLEY CONVENTI ON CENTER
1
st
Fl oor
2
nd
Fl oor
3
rd
Fl oor
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON I 11
PRI ZES
1ST PLACE
2ND PLACE
3RD PLACE
4TH PLACE
5TH - 8TH PLACE
9TH - 40TH PLACE
$25, 000
$10, 000
$7, 500
$5, 000
$2, 000
$1, 000
The I BMC Tr ophy
Cash Awar ds
The I BMC Champi ons
Do you have what i t t akes t o br i ng t he I nt er nat i onal
Busi ness Model Compet i t i on t rophy t o you school ?
The I BMC t rophy t r avel s each year t o t he school of
t he I BMC champi on. Cur rent l y t he t rophy resi des at
Br i gham Young Uni ver si t y si nce l ast year Owl et Baby
Moni t or s, a t eam f rom BYU, t ook f i r st pl ace i n t he
compet i t i on at Har vard. The 2014 compet i t i on i s a
new year and a new champi on wi l l be crowned. So
br i ng your best t o t hi s compet i t i on and you may br i ng
back more t han j ust pr i ze money.
Kur t Wor kman, Jordan Monroe,
Jacob Col bi n, Tanor Hodges, Zach
Bomst a, Adam Roger s
Ken Frei
Zachay Al l aun, Jorge Espi noza
2013
2012
2011
Owl et Baby
Moni t or s
XoomPar k
Gamegnat
Br i gham Young Uni ver si t y
Br i gham Young Uni ver si t y

Amer i can Uni ver si t y
12
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON I 13
Adept Advancement s
Br oad Anal yt i cs
CoPi l ot
easybi odat a
Gr ypshon
Hor secom
Ki band
Novo Saddl es Syst ems I nc.
Power Pi t ch
Ri ght Si de Heal t h
SpyneTech
Tympanogen
Vol l eyMet r i cs
Woozy
Aut oHome
Cat chbox
Dul ces Nueces
Geni us Secur i t y
Her boo Ent er pr i se
I nsi ght Engi ne
Kr i cket
OneWay
Pr ogenerat i on Ener gy
RunFor m
Swaddl e-Mi -Bi l i
Ver i t as Medi cal , LLC
Wheel -Go-Round
Bamboo Pl aques
Caydi an
E-Kai a
Gl obal Ser vi ce Par t ner shi ps
Hi ndsi ght Heal t h I nc.
I owa Adapt i ve Technol ogi es
Legal l yLi nk
Panacea
Quar t er wear
Spar kgi g
Tekni cal l y
VeXeRe. com
Whi t eLi ght Medi cal
COMPETI NG TEAMS
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON
14
COMPETI NG TEAMS
Adept Advancement s
Renssel aer Pol yt echni c I nst i t ut e
Mont er r ey I nst i t ut e of Technol ogy
Doshi sha Uni ver si t y
Aut oHome
Bamboo Pl aque
Have you ever l ost cel l -phone recept i on
i n a t unnel , subway, or el evat or ? That i s
because convent i onal wi rel ess t echni ques
do not pass t hrough met al wal l s eff ect i vel y.
We have devel oped a breakt hrough t ech-
nol ogy t hat wi l l convey vi t al i nf or mat i on wi rel essl y t hrough
t hi ck sol i d bar r i er s.
Aut oHome i s creat i ng an adapt er
f or l i ght bul bs and ot her el ect roni c
devi ces t hat communi cat es wi t h a
user s smar t phone and enabl es t hem t o moni t or and cont rol
t hese devi ces wi rel essl y.
Bamboo Pl aque i s an i nnovat i ve
bui l di ng mat er i al company off er i ng
envi ronment al l y-f r i endl y, bi odegr adabl e,
and heal t h consci ous bui l di ng mat er i al s t o reduce noi se
l evel s and cont r i but e t o qual i t y of l i f e.
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON I 15
Br i gham Young Uni ver si t y
Aal t o Uni ver si t y
St anf or d Uni ver si t y
Br oad Anal yt i cs
Cat chbox
Caydi an
Broad Anal yt i cs uses Wi Fi t echnol ogy t o do
i ndoor t r acki ng i n museums. The company
was creat ed t o address t he pai n of al l ocat i ng
mi l l i ons of dol l ar s f or oper at i ons and
exhi bi t creat i on based on hunches. Wi t h
a syst em i n pl ace, museum di rect or s and
boards wi l l no l onger need t o make deci si ons based on i n-
t ui t i on onl y, but on appl i cabl e dat a.
Cat chbox makes t he wor l ds f i r st t hrowabl e
mi crophone, maki ng audi ence i nt er act i on
easi er and more eff ect i ve. The sof t wi rel ess
mi crophone can be easi l y passed f rom
one audi ence member t o t he next , even i n
crowded conf erences. Thi s not onl y makes
aski ng quest i ons f ast er and easi er, but al so makes event s
f un. The cust omi zabl e out er cover al l ows cust omer s t o
promot e t hei r own br ands and sponsor s i n a uni que way.
The Caydi an Dream del i ver s t he
f i r st ever cure f or sl eep t er ror s.
Based on publ i cat i ons i n l eadi ng
j our nal s, i ncl udi ng t he Br i t i sh Med-
i cal Jour nal , i t uses bal l i st ocardi -
ogr aphy-based sl eep moni t or i ng and a propr i et ar y sl eep
modi f i cat i on syst em t o compl et el y el i mi nat e t he sl eep t er ror s.
COMPETI NG TEAMS
BO
catch
16
COMPETI NG TEAMS
CoPi l ot
Dul ces Nueces
E- Kai a
We hel p st udi os and st ar t ups
pi l ot t hei r i deas/ scenes/ epi sodes
vi a web vi deo t o get f eedback and gai n cust omer s bef ore
t hey l aunch. We see CoPi l ot growi ng t hrough word-of -mout h
mar ket i ng campai gns wi t h key i nf l uencer s onl i ne t hat have
si gni f i cant share-of -voi ce i n t he cust omer segment s we are
t arget i ng, cust omer s i nvi t i ng f r i ends and connect i ons t o t he
pl atform, and co-content marketi ng efforts wi th our partners that
cat er t o t he same cust omer segment s.
Dul ces Nueces creat es a handmade,
gour met , 100% nat ur al pecan nut candy.
We use uni que, al l organi c packagi ng f or
al l of our candi es.
At E-Kai a, whi ch means Ear t h energy i n
Greek, we have creat ed a uni que bi ol ogi cal
ci rcui t t hat channel s energy f rom pl ant s
t o gener at e el ect r i ci t y. We are passi onat e
about devel opi ng cl ean and nat ur al t ech-
nol ogi es t hat sol ve real -wor l d probl ems.
Pont i f i cal Cat hol i c Uni ver si t y of Chi l e
Mont er r ey I nst i t ut e of Technol ogy
Br i gham Young Uni ver si t y
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON I 17
easybi odat a
Geni us Secur i t y
Gl obal Ser vi ce Par t ner shi ps
easybi odat a i s an onl i ne pl at f or m f or I ndi an
si ngl es around t he wor l d i n search of mar i t al
candi dat es. Our mi ssi on i s t o rei magi ne
t he ar r anged mar r i age process i n I ndi a by
evol vi ng t he spousal search process t o
gi ve more power of cont rol and choi ce t o
prospect i ve spouses whi l e respect i ng t he cul t ure and t r adi t i onal val ues by keepi ng
f ami l i es i nvol ved.
The Geni us Home Secur i t y syst em off er s
rent er s, homeowner s, and smal l busi ness
owner s an al l -i n-one secur i t y product ,
i ncl udi ng f eat ures such as mot i on det ect i on, camer as, and
si rens cont rol l ed by a smar t phone. User s can purchase one
or mul t i pl e cei l i ng-mount ed camer as t hat sync wi rel essl y
t o a base st at i on t hat rel ays i mages of i nt r uder s i nst ant l y
t o t he homeowner. Homeowner s t hen cont rol t he response,
el i mi nat i ng f al se al ar ms. Fur t her more, Geni us el i mi nat es t he
need f or t r adi t i onal secur i t y, because i t enabl es user s t o moni t or t hei r own home se-
cur i t y wi t hout cal l cent er s or cont r act s. I t bl ows away ot her non-cont r act ual secur i t y
syst ems by off er i ng di screet , wi rel ess camer as at hal f t he pr i ce of i t s compet i t or s.
I t s not j ust secur i t y. I t s Geni us.
Gl obal Ser vi ce Par t ner shi ps pro-
vi des oppor t uni t i es f or st udent s,
educat or s, f ami l i es, and prof es-
si onal s t o engage i n i nt er nat i onal
ser vi ce i n Bel i ze. The ser vi ce f ocuses on Engl i sh l anguage
devel opment proj ect s, par t ner i ng wi t h Bel i zean el ement ar y
school s and educat or s.
COMPETI NG TEAMS
Boi se St at e Uni ver si t y
Br i gham Young Uni ver si t y
Har var d Busi ness School
18
COMPETI NG TEAMS
Gr ypshon I ndust r i es
Her boo Ent er pr i se
Hi ndsi ght Heal t h I nc.
Gr ypshon I ndust r i es bel i eves i n maxi mi zi ng
t he eff i ci ency, product i vi t y and saf et y of
our member s i n t he mi l i t ar y. Two product s
f rom our l i ne of i nnovat i ve aerospace saf et y
equi pment , t he Gr ypshon mat and t he
Gr ypshon Fl exi bl e Tool Tr ay, are saf e, non-cor rosi ve, and
conveni ent sur f aces on whi ch mechani cs can st and or
pl ace t ool s. Thi s reduces t he i nci dence of f al l i ng f rom t he
j et dur i ng mai nt enance and provi des a saf eguard agai nst
anyt hi ng bei ng l ef t i nsi de t he j et .
Her boo Ent er pr i se i s a her bal cosmet i cs
company, t hat onl y uses pl ant s t o make
al l our cosmet i cs. We cur rent l y have a t wo-i n-one shampoo
and condi t i oner t hat hel ps t o prevent dandr uff made f rom
Jamai can sor rel . Our ai m i s t o make al l cosmet i cs Her bal .
At Hi ndsi ght Heal t h we are
sol vi ng t he pai n associ at -
ed wi t h medi cal appoi nt ment wai t t i mes usi ng an i nnovat i ve
real -t i me SMS appoi nt ment updat e ser vi ce. We i nf or m
pat i ent s on t he st at us of t hei r medi cal appoi nt ment s and
i ndi cat e whet her t hei r doct or i s r unni ng behi nd schedul e.
I f so, we provi de pat i ent s wi t h a revi sed appoi nt ment t i me
est i mat e. Hi ndsi ght Heal t h gi ves pat i ent s t he f reedom t o
more eff ect i vel y pl an t hei r t i me around a medi cal appoi nt -
ment . The sol ut i on provi ded by Hi ndsi ght Heal t h can be
ext ended t o ot her i ndust r i es such as dent i st r y, vet er i nar y
medi ci ne, physi ot her apy, and many more.
Uni ver si t y of Wi sconsi n- Mi l waukee
Nor t her n Car i bbean Uni ver si t y
Dal housi e Uni ver si t y
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON I 19
Hor secom
I nsi ght Engi ne
I owa Adapt i ve Technol ogi es
Hor secom, wi rel ess headphones f or hor ses
and r i der s. Hor secom i nvent ed a t echnol ogy
and an aut omat ed met hodol ogy t o i mprove
hor se wel l ness and r i der per f or mance. We
are worki ng wi t h f amous sci ent i st s and ri ders
t o val i dat e and devel op i t .
Mock Tr i al i s a compet i t i on
where st udent s ( Hi gh School
t hrough Law School ) pr act i ce l aw. Our appl i cat i on gi ves
st udent s a compet i t i ve advant age t hrough dat a dr i ven ana-
l yt i cs on t eam per f or mance as wel l as resources whi ch i m-
prove t hei r abi l i t y t o per f or m i n a cour t room. We wi l l grow
i n t he f ut ure by provi di ng t hi s cour t room per f or mance enhanci ng t echnol ogy t o pro-
f essi onal at t or neys.
I owa Adapt i ve provi des devi ces and
consul t i ng ser vi ces f or caregi ver s
t o enabl e di sabl ed pat i ent s t o cal l
and communi cat e t hei r needs. More
t han 25 year s of cl i ni cal research was ut i l i zed t o creat e t he
I owa Smar t Swi t ch, a devi ce t hat al l ows pat i ent s who are vo-
cal l y and physi cal l y i mpai red t o cal l a nur se and communi -
cat e vi a speech gener at or s and ot her i Pad apps. By enhanc-
i ng pat i ent -provi der communi cat i on, our sol ut i ons wi l l hel p
hospi t al s and nur si ng f aci l i t i es reduce t he r at e of adver se medi cal event s, i mprove
eval uat i on met r i cs such as posi t i ve medi cal out comes and pat i ent sat i sf act i on, and
more easi l y meet hospi t al accredi t at i on st andards.
COMPETI NG TEAMS
ESSEC Busi ness School
Uni ver si t y of Cal i f or ni a- Sant a Bar bar a
Uni ver si t y of I owa
20
COMPETI NG TEAMS
Ki band
Kr i cket
Legal l yLi nk
Ki band i s a chi l d saf et y wr i st band t hat con-
nect s t o a parent s smar t phone, and when
t he chi l d i s t oo f ar away t he wr i st band and
t he phone al er t . Ut i l i zi ng Bl uet oot h 4. 0 ( BLE) t echnol ogy
Ki band t r ansf or ms a smar t phone i nt o a mobi l e geo-f ence
t hat can be t oggl ed f or di ff erent si t uat i ons such as a mal l or
amusement par k, at cl ose proxi mi t y, or a pl ayground, where
great er f reedom f or t he chi l d t o expl ore can be aff orded. I t
i s an i nt ui t i ve and ki d-f r i endl y way t o keep chi l dren saf e and
parent s wor r y f ree.
Kr i cket i s an anonymous way t o t ext your
nei ghbor pl ease qui et down. By i mpl e-
ment i ng t hi s ser vi ce i n a ci t y or t own, t he
burden on t he pol i ce f or noi se compl ai nt s
wi l l be reduced. Our ser vi ce al l ows nei gh-
bor s t o cont act each ot her di rect l y whi l e st i l l keepi ng some
l evel of pr i vacy. I n t he f ut ure, Kr i cket wi l l be a st apl e of
col l ege campuses and apar t ment compl exes. Thi s wi l l hel p
bui l d a user base f or our company, and wi l l ul t i mat el y l ead i nt o Rat e and Rent .
We are Legal l yLi nk, an onl i ne
document prepar at i on ser vi ce
geared t o sol vi ng t he pai n of Y-Gener at i on ent repreneur s. I t
i s obvi ous t o see t he t rend of t he ent repreneur i al spi r i t i n
peopl e ages 18-34. The new cool , hi p t hi ng t o do i s not be
a DJ, or a chi l d act or anymore, but r at her t o st ar t your own
busi ness and be your own boss. Legal Zoom i s t he monopol y
i n t he mar ket ; t hey compl et el y i gnore t he not i on t hat 29%
( and growi ng) of t hi s 26 bi l l i on dol l ar i ndust r y i s made up of
i ndi vi dual s bet ween t he ages of 18-34. Bei ng more cost
compet i t i ve and resourcef ul t han Legal Zoom, al ong wi t h
off er i ng a pl at f or m where member s can i nt er act wi t h each ot her and wi t h at t or neys
wi l l al l ow us t o capt ure t hi s hi p demogr aphi c and scal e ver y qui ckl y.
Br i gham Young Uni ver si t y
Qui nni pi ac Uni ver si t y
Uni ver si t y of Cent r al Fl or i da
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON I 21
Novo Saddl es Syst ems
OneWay
Panacea
We are Novo Saddl es Syst ems
I nc. We manuf act ure personal i zed
bi ke seat s t hat f i t t he uni que shape of ever y r i der i n order t o
opt i mi ze eff i ci ency.
OneWay i s creat i ng a mobi l e app t hat
hel ps user s know whi ch par t s of a gi ven
ci t y are saf e. OneWay wi l l gi ve peopl e
peace of mi nd whi l e t hey expl ore t he area around t hem.
Panacea i s a mobi l e app bui l t around SMS
t echnol ogy t o f i ght t he US$130 mi l l i on
count er f ei t medi ci ne i ndust r y i n Bangl a-
desh. Usi ng our ser vi ce you can t el l i f t he
dr ugs you buy are real or not . We pr i nt
r andom uni que codes on ever y medi ci ne
pack of our par t ner phar maceut i cal s. Cust omer s can t hen
send us a request t o ver i f y t he code wr i t t en on t he pack t o
det er mi ne i t s aut hent i ci t y.
COMPETI NG TEAMS
Uni ver si t y of Wi ndsor
Mont er r ey I nst i t ut e of Technol ogy
Uni ver si t y of Dhaka
22
COMPETI NG TEAMS
Power Pi t ch
Pr ogener at i on Ener gy
Quar t er wear
Power Pi t ch del i ver s super i or,
cost -eff ect i ve onl i ne communi cat i on t r ai ni ng t ool s t o l arge
organi zat i ons, ut i l i zi ng an engagi ng 3D pl at f or m. Power Pi t ch
enabl es organi zat i ons t o i ncrease t he eff ect i veness of com-
muni cat i on t r ai ni ng progr ams t hrough an engagi ng onl i ne
pl at f or m t hat cont i nuousl y rei nf orces l ear ned ski l l s. The
Power Pi t ch si mul at or moni t or s t he user s voi ce, speech,
body l anguage, and eye cont act , whi l e del i ver i ng real -t i me
f eedback based on research-backed best pr act i ces. User-gener at ed dat a al l ows
organi zat i ons t o measure i ndi vi dual progress and ski l l ret ent i on.
Progener at i on Energys t wo
pronged approach hel ps cust om-
er s i n t wo ways. Fi r st , by reduci ng a cust omer s cur rent en-
ergy needs, l ower i ng t hei r ut i l i t y expenses. Thi s may i ncl ude
si mpl e changes i n l i ght i ng, or more i nt ensi ve st r uct ur al
changes t o t he bui l di ng. Second, we are cer t i f i ed t o desi gn
and i nst al l sol ar syst ems whi ch gener at e addi t i onal revenue
f or t hose cl i ent s. Progener at i on Energy i s t he onl y company
i n t he Texas, ERCOT regi on t hat hol ds engi neer i ng, procure-
ment and const r uct i on ( EPC) ser vi ces speci f i c t o commerci al energy consul t i ng i n-
house.
We are an onl i ne-ret ai l er of
l i mi t ed-edi t i on t -shi r t s t hat r ai se awareness, suppor t and
capi t al f or t he wor l ds great est causes and t hose who ad-
dress t hem. We par t ner and bui l d 52 char i t y t -shi r t cam-
pai gns per year ( 1 per week) . For ever y t ee sol d we donat e
25% of t he purchase t o t hat weeks char i t y. Quar t er wear
was f ounded on t he pr i nci pl e t hat i ndi vi dual s, char i t i es and
non-prof i t s sol vi ng t he wor l ds most f undament al and di ff i -
cul t probl ems shoul d be gi ven more t han chapt er s i n f ut ure
hi st or y books; t hey shoul d be rewarded and suppor t ed t o-
day. We bel i eve t hat some probl ems, some causes, are j ust
t oo bi g t o be t ackl ed al one. We wor k al ongsi de t he wor l ds probl em-sol ver s t o f i nd
sol ut i ons t o soci et ys most probl emat i c i ssues.
Cent r al Fl or i da
Duke Uni ver si t y
Uni ver si t y of Ar i zona
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON I 23
Ri ght Si de Heal t h
RunFor m
Spar kgi g
We make a product cal l ed St eps,
cl i ent management sof t ware f or
heal t h and wel l ness coaches. I t
hel ps t hei r cl i ent s get bet t er resul t s,
hel ps coaches r un t hei r busi ness
more easi l y and eff ect i vel y, and provi des us wi t h usef ul dat a
about what i s and i snt eff ect i ve i n get t i ng cl i ent s t o change
t hei r habi t s. I n t he f ut ure, we want t o be t he wor l ds go-t o
resource f or i mprovi ng heal t h t hrough behavi or change.
RunFor m i s t he mobi l e r unni ng
coach. Our ul t r a t hi n i nsol e sends
real -t i me r unni ng dat a t o your smar t phone, and our mobi l e
app gi ves audi bl e coachi ng t i ps as you r un t o hel p you i m-
prove your f or m and change t he way you r un.
Spar kgi g i s a communi t y mar ket pl ace t hat
seaml essl y connect s event organi zer s
wi t h t al ent ed l i ve per f or mer s. For up and
comi ng per f or mer s, Spar kgi g i s a t ool t o
connect di rect l y wi t h l ocal event oppor t u-
ni t i es. For event organi zer s, Spar kgi g i s a
way t o easi l y connect wi t h rel i abl e l i ve ent er t ai ner s i n t he
r i ght area, of t he r i ght ki nd and at t he r i ght pr i ce. Spar kgi g
wi l l become t he gl obal go t o dest i nat i on f or anyone seeki ng
l i ve ent er t ai nment f or a weddi ng, pr i vat e par t y or cor por at e event .
COMPETI NG TEAMS
Health is a verb
runform
Har var d Busi ness School
Br i gham Young Uni ver si t y
Uni ver si t y of Wat er l oo
24
COMPETI NG TEAMS
SpyneTech
Swaddl e- mi - Bi l i
Tekni cal l y
SpyneTech i s a company f ounded
by engi neer s around t he i dea of an act i ve back br ace. They
are devel opi ng a uni que back br ace t hat provi des smar t
suppor t t o cust omer s i n need. Thei r goal i s t o reduce back
pai n and back i nj ur i es by desi gni ng a br ace t hat t hi nks f or
t he user i n order t o el i mi nat e t he chance of i nj ur y and pro-
t ect t he spi ne.
Swaddl e-mi -Bi l i i s a wear abl e,
por t abl e, l ow-cost t reat ment f or neonat al j aundi ce. Jaundi ce
i s a di sease t hat aff ect s 60% of newbor ns t hat can cause
ment al ret ardat i on or even deat h i f not t reat ed i mmedi at el y
af t er bi r t h. Cur rent t reat ment s are cumber some and requi re
t he baby t o be away f rom i t s mot her, causi ng a st ressf ul
exper i ence. Swaddl e-mi -Bi l i pai r s cur rent phot ot her apy
t echnol ogy wi t h a wear abl e swaddl e so t hat t he baby can
be hel d and breast f ed dur i ng t reat ment whi l e promot i ng mot her-i nf ant bondi ng.
Tekni cal l ys f l agshi p product
Webpl i o t r ansl at es compl ex
web anal yt i cs i nt o easy t o under st and i nf or mat i on. Sheet s
of dat a become gorgeous gr aphs. Easy t o under st and
recommendat i ons repl ace hour s of daunt i ng anal ysi s. Wi t h
Webpl i o, i nf or med deci si ons can be made on how t o
i mprove a websi t es eff ect i veness. Webpl i o l aunches i n
cl osed Bet a i n May 2014 and wi l l l aunch t o smal l busi ness
owner s ever ywhere l at er t hi s summer.
San Di ego St at e Uni ver si t y
Mi chi gan St at e Uni ver si t y
Wi l f r i d Laur i er Uni ver si t y
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON I 25
Tympanogen
Ver i t as Medi cal LLC
VeXeRe. com
There are over 700, 000 cases of per f or at ed eardr ums i n
t he US al one, many due t o compl i cat i ons f rom chroni c ear
i nf ect i ons. Cur rent t her api es requi re i nvasi ve surger i es
wi t h success r at es as l ow as 35%. Our dynami c and energet i c
t eam of engi neer s and physi ci ans i s commerci al i zi ng
a gel pat ch we devel oped at Tul ane Uni ver si t y cal l ed Per f -
Fi x, f or non-surgi cal repai r of t hese eardr um per f or at i ons.
A prot ot ype we devel oped was t est ed i n an ani mal model .
Thi s gel pat ch more t han doubl ed t he cl osure r at e of t hese
per f or at i ons whi l e act i vel y f i ght i ng i nf ect i on.
Ver i t as Medi cal LLC i s a st ar t -up company
f ocused i n t he cat het er medi cal devi ce
mar ket . Cat het er s are speci al i zed pl ast i c
t ubi ng used by physi ci ans t o gai n access
t o i nt er nal areas of a pat i ent s body. Whi l e
t hese cat het er s are ver y i mpor t ant t o medi ci ne, unf or t unat el y
t hey have a hi gh i nci dence f or i nf ect i on. We are devel opi ng
a met hod t o st op t hi s by usi ng a hi gh i nt ensi t y l aser whi ch
ki l l s bact er i a resi di ng on t he cat het er. Our product l i ne i s a cat het er i nser t i on and
st er i l i zat i on ki t t hat wi l l be sol d di rect l y t o hospi t al s or as a prescr i pt i on f or at home
use by pat i ent s wi t h l ong t er m i n-pl ace cat het er s.
Buses are an i mpor t ant means of
t r anspor t i n Sout heast Asi a, par t i cul ar l y i n Vi et nam, where
24 mi l l i on vi si t or s t r avel by bus annual l y. However, t here
i s no comprehensi ve syst em t hat i nt egr at es mul t i pl e bus
agenci es, suppor t s searchi ng and booki ng bus t i cket s
across Sout heast Asi a, or provi des accur at e and updat ed
i nf or mat i on on bus t r avel l i ng. To deal wi t h t hese i ssues,
VeXeRe. com seek t o provi de a comprehensi ve onl i ne bus booki ng pl at f or m across
mul t i pl e bus oper at or s i n Sout heast Asi a and a mul t i -l i ngual app where passenger s
can easi l y search and book t i cket s.
COMPETI NG TEAMS
Tul ane Uni ver si t y
Uni ver si t y of Ut ah
Thunder bi r d School of Gl obal Management
26
COMPETI NG TEAMS
Vol l eyMet r i cs
Wheel - Go- Round
Whi t eLi ght Medi cal
Woozy
Anyone who has pl ayed compet i t i ve
spor t s knows how i mpor t ant st at s, anal ysi s, and post -game f i l m
are; t hey are an excel l ent way t o i mprove per f or mance on bot h
per sonal and t eam l evel s, yet a dedi cat ed st aff spends 20-30 hour s a
week on t hi s t ask t o push out r i ch, t horough anal ysi s. Vol l eyMet r i cs
want s t o hel p sol ve t hat probl em t hrough a SAaaS ( Spor t s Anal yt i cs
as a Ser vi ce) model . We are busi ness i nt el l i gence f or spor t s
off er i ng yout h, amat eur, hi gh school , col l ege, and prof essi onal spor t s
t eams f ul l y i ndexed game f oot age wi t hi n 6-36 hour s of upl oadi ng.
Approxi mat el y 1 mi l l i on wheel chai r user s i n
Thai l and and 88 mi l l i on around t he wor l d
have di ff i cul t y i n f i ndi ng usef ul i nf or mat i on
needed f or t r avel l i ng. Many choose t o avoi d
get t i ng out of t he house because of t he
obst acl es t hey have t o f ace when goi ng t o pl aces t hey do
not know and t he wor r y t o be a burden f or t hei r compan-
i ons whi l e t r avel l i ng. Wheel -go-round i s creat ed t o col l ect
and share up-t o-dat e i nf or mat i on of pl aces t hat have necessar y accessi bl e f aci l i t i es
such as r amps, t oi l et , and reser ved par ki ng f or wheel chai r user s.
Whi t e Li ght Medi cal i s a st ar t up med-
i cal devi ce f i r m t hat i s devel opi ng a
l ow-cost , smar t er pedi cl e probe, Ac-
cuSpi neTM, f or t he accur at e pl acement
of pedi cl e screws i n spi nal f usi on sur-
ger i es. Our t eam ai ms t o reduce screw breach r at es, oper-
at i ng room t i me and r adi at i on exposure, t heref ore l i mi t i ng
t he cost of t he procedure whi l e enhanci ng saf et y f or bot h
pat i ent s and doct or s.
Woozy i s sol vi ng pai ns peopl e
exper i ence whi l e t r avel i ng. We provi de a
rent abl e per sonal space t hat i ncl udes a
recl i ni ng chai r, a movabl e t abl e, Wi -Fi , and an out l et . Thus, we wi l l
be abl e t o make t r avel i ng over l ong di st ances a more enj oyabl e and
comf or t abl e exper i ence.
Br i gham Young Uni ver si t y
Thammasat Uni ver si t y
Johns Hopki ns Uni ver si t y
Mont er r ey I nst i t ut e of Technol ogy
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON I 27
JUDGI NG
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON
JUDGI NG CRI TERI A
FI NAL JUDGES
SEMI -FI NAL JUDGES
28
JUDGI NG CRI TERI 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 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.
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON I 29
STEVEN BLANK
Af t er 21 year s i n 8 hi gh t echnol ogy compani es, St even Bl ank ret i red i n 1999. Hi s
l ast company, E. pi phany, was co-f ounded i n hi s l i vi ng room i n 1996. Bl ank al so
f ounded t wo semi conduct or compani es ( Zi l og and MI PS Comput er s) , a wor kst at i on
company ( Convergent Technol ogi es) , a consul t i ng st i nt f or a gr aphi cs hardware/
sof t ware spi nout ( Pi xar ) , a supercomput er f i r m ( Ardent ) , a comput er per i pher al sup-
pl i er ( Super Mac) , a mi l i t ar y i nt el l i gence syst ems suppl i er ( ESL) , and a vi deo game
company ( Rocket Sci ence Games) .
I n ret i rement , Bl ank wrot e Four St eps t o t he Epi phany, a book about bui l di ng ear l y
st age compani es. Hi s l at est book, The St ar t up Owner s Manual i nt egr at es 10 year s of
new knowl edge. Bl ank now t eaches ent repreneur shi p t o bot h undergr aduat e and gr aduat e st udent s at
U. C. Ber kel ey, St anf ord Uni ver si t y and t he Col umbi a Uni ver si t y/ Ber kel ey Joi nt Execut i ve MBA progr am.
FI NAL JUDGES
ALEX OSTERWALDER
NATHAN FURR
Dr. Al exander Ost er wal der wor ks as an i ndependent aut hor, speaker and advi sor
wi t h a par t i cul ar f ocus on busi ness model i nnovat i on, st r at egi c management and
management i nnovat i on.
Besi des hi s i ndependent act i vi t i es he i s par t ner at Ar vet i ca, a consul t i ng bout i que
f ocusi ng on t he pr i vat e banki ng and weal t h management i ndust r y. Hi s rol e i ncl udes
busi ness devel opment and t he management of a peer knowl edge exchange pl at f or m
f or seni or execut i ves i n pr i vat e banki ng ( www. pr i vat ebanki ngi nnovat i on. com) .
Previ ousl y Dr. Ost er wal der f ounded and r an Busi nessModel Desi gn. com, a consul t i ng bout i que act i ve
i n st r at egy consul t i ng wi t h a f ocus on busi ness model i nnovat i on. Dr. Ost er wal der has a Ph. D. i n Man-
agement I nf or mat i on Syst ems ( MI S) f rom t he Uni ver si t y of Lausanne, Swi t zer l and, where he wor ked as
a t eachi ng and research assi st ant and publ i shed ext ensi vel y. He al so devel oped and t aught a semi nar
on I nf or mat i on and Communi cat i on Technol ogi es f or Devel opment ( I CT4D) .
Nat han Fur r ear ned hi s Ph. D. at St anf ord Uni ver si t y i n t he St anf ord Technol ogy
Vent ures Progr am and i s cur rent l y an assi st ant prof essor of ent repreneur shi p at
Br i gham Young Uni ver si t y. Nat hans research f ocuses on mar ket devel opment and
ear l y st age ent repreneur i al processes. I n par t i cul ar, Nat han has been wor ki ng on
i deas around Cust omer Devel opment , Lean St ar t up, and t he Nai l I t t hen Scal e I t
met hodol ogi es whi ch propose processes t hat ent repreneur s can use t o dr amat i cal l y
t r ansf or m t hei r busi ness model s. I n addi t i on, Nat hans ot her research exami nes
i ssues of change, i nnovat i on, cogni t i on and st r at egy i n ent repreneur i al and dynami c
envi ronment s.
Prof essi onal l y, Nat han has act ed as t he f ounder or advi sor t o st ar t ups i n web 2. 0, cl ean t echnol ogy,
ret ai l , prof essi onal ser vi ce, and f i nanci al ser vi ces i ndust r i es. I n addi t i on, Nat han i s cur rent l y on t he
i nvest ment board of t he Ki ckst ar t Seed Fund, an i nnovat i ve ear l y-st age f und. Nat han was al so a con-
sul t ant at Moni t or Group, an i nt er nat i onal st r at egy consul t i ng f i r m, wor ki ng wi t h seni or execut i ves on
a r ange of st r at egi c and mar ket di scover y i ni t i at i ves i ncl udi ng st r at egy devel opment , organi zat i on-
al change, t echnol ogy commerci al i zat i on, communi cat i on processes, st r at egi c pl anni ng, compet i t i ve
anal ysi s, and mar ket i ng. I n addi t i on t o hi s doct or al st udi es, Nat han has a BA, MA, and an MBA.
30
FI NAL JUDGES
JOHN RI CHARDS
John Ri chards i s an ent repreneur, vent ure i nvest or, execut i ve manager, and educat or.
Hi s act i vi t i es have i ncl uded f oundi ng, r unni ng, sel l i ng, and i nvest i ng i n sever al
ent er pr i ses. He ment or s ent repreneur s f requent l y. He i s head of oper at i ons f or Googl e
Fi ber - Provo, Ut ah, wor ki ng on one of t he wor l ds great i nt r apreneur i al vent ures.
Previ ousl y, he has spent over a decade t eachi ng ent repreneur shi p at Br i gham Young
Uni ver si t y i n Provo, Ut ah where he al so hel ped br i ng t he Rol l i ns Cent er f or Ent repre-
neur shi p & Technol ogy t o gl obal promi nence. He was managi ng par t ner of Ut ahAngel s,
a vent ure i nvest i ng group. He co-f ounded BoomSt ar t up, a t ech accel er at or i n Ut ah,
and al so f ounded t he Ut ah St udent 25. Previ ousl y, he was presi dent of a publ i shi ng company i n
Seat t l e, Washi ngt on and l at er st ar t ed a company t hat l ed t o an i ni t i al publ i c off er i ng and a mul t i -bi l l i on-
dol l ar val uat i on ( I nf oSpace) . John i s a f requent speaker at conf erences and ot her event s. He and hi s
f ami l y resi de i n Provo, Ut ah.
JAMES CLARKE
GAVI N CHRI STENSEN
James Cl ar ke i s t he Managi ng Par t ner of Cl ar ke Capi t al Par t ner s, a Growt h
Equi t y and Al t er nat i ves Fund. Wi t hi n t he Cl ar ke Al t er nat i ves por t f ol i o, t he t eam has
acqui red si gni f i cant owner shi p of Cont our HD where he ser ves as Chai r man of t he
Board. Pr i or t o CCP, he di rect ed Yel l owst one Par t ner s Pr i vat e Equi t y & Al t er nat i ve
Asset s and remai ns an aff i l i at e. I n 2001, James f ounded CLEARLI NK, based i n Sal t
Lake Ci t y, Ut ah, wor ki ng as CEO, t hen Chai r man. Af t er near l y 10 year s i n onl i ne
ret ai l , Jamess st ake of CLEARLI NK was acqui red i n ear l y 2011 by Paml i co Capi t al
( f or mer l y Wachovi a) . CLEARLI NK was honored i n 2008 as Ut ahs 4t h f ast est growi ng
company and i s a mul t i -year I NC. 500 reci pi ent . James has been recogni zed as a vSpr i ng 100 Ent re-
preneur, an MWCN Ut ah 100 Honoree on mul t i pl e occasi ons, and as a Ut ah Busi ness Magazi ne 40
Under 40 busi ness l eader.
Si nce f oundi ng Ki ckst ar t Seed Fund i n 2008, Gavi n has been responsi bl e f or al l
aspect s of managi ng t he f i r m i n addi t i on t o l eadi ng due di l i gence and i nvest ment
deci si ons i n conj unct i on wi t h Ki ckst ar t s I nvest ment Commi t t ee. Pr i or t o Ki ckst ar t ,
Gavi n was an anal yst , associ at e and pr i nci pal at vSpr i ng ( now Si gnal Peak) . Bef ore
vSpr i ng Capi t al , Gavi n al so wor ked as a Ver t i cal St r at egy Associ at e f or Googl e and
as a consul t ant i n Moni t or Groups Cambr i dge off i ce where he advi sed cl i ent s on a
r ange of st r at egi c, oper at i onal , and organi zat i onal i mprovement s. Gavi n began hi s
career at Fi del i t y I nvest ment s as an i nvest ment s represent at i ve.
SEMI - FI NAL JUDGES
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON
Tracy Li vi ngst on Gr eg Pet er son
Amy Ander son
Brad Hagen
Dani el Appel
Tom Kar r en
Cor bi n Chur ch
Si d Kr ommenhoek
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON I 31
HI STORY
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON
I BMC FOUNDI NG & SPONSORS
DURANT SCHOOL OF ENTREPRENEURSHI P
WHAT I S THE I BMC
WHAT WI NNI NG TEAMS DO
SUCCESS STORI ES
32
DURANT SCHOOL OF ENTREPRENEURSHI P
The I nt er nat i onal Busi ness Model Compet i t i on represent s t he f i r st compet i t i on of i t s ki nd i n
t he wor l d and i s par t of a ground breaki ng approach t o ent repreneur shi p t hat f ocuses on t he
process of i mprovi ng t he i nput s i nt o ent repreneur shi p r at her t han t he out put s. Speci f i cal l y,
r at her t han f ocusi ng on out put s l i ke busi ness pl ans or f undr ai si ng, t hi s new approach f ocus-
es on t he key t asks of t est i ng assumpt i ons i n t he f i el d and devel opi ng val i dat ed busi ness
model s whi ch i s mani f est t hrough deep cust omer i nt er act i on and t r act i on.

I BMC SPONSOR
The I BMC i s sponsored by t he Kevi n and Debr a Rol l i ns Cent er
f or Ent repreneur shi p & Technol ogy i n t he Mar r i ot t School of
Management at Br i gham Young Uni ver si t y. The Mar r i ot t School
of Management s ent repreneur shi p progr am i s consi st ent l y
r anked as one of t he t op progr ams i n t he count r y each year.

I BMC FOUNDERS
Nat han Fur r ( Ph. D. , St anf ord; Ent repreneur shi p Prof essor, BYU)
St even Bl ank ( Ent repreneur shi p Prof essor, UC Ber kl ey; Lect urer, St anf ord)
John Ri chards ( Ent repreneur shi p Prof essor, BYU)
Scot t Pet er sen ( Di rect or, Cent er f or Ent repreneur shi p & Technol ogy, BYU)
The Busi ness Model Compet i t i on i s i nspi red by t he st or i es of Al f red Sl oan and Bi l l y Dur ant .
Al t hough many peopl e know Al f red Sl oan as t he CEO of Gener al Mot or s and t he f at her of t he
moder n cor por at i on, f ew peopl e know of Bi l l y Dur ant , t he creat i ve ent repreneur t hat f ounded
Gener al Mot or s, who grew revenues i nt o t he hundreds of mi l l i ons bef ore bei ng oust ed by t he
board f or bei ng t oo maver i ck.
The Dur ant vs Sl oan st or y i s i coni c because i t mi r ror s t he devel opment of gl obal economi es and
busi ness school s af t er t he i ndust r i al revol ut i on, when l arge f i r ms di spl aced ent repreneur i al
f i r ms and educat i on became f ocused on t heor y and pr act i ce f or managi ng l arge f i r ms.
However, t he t act i cs f or managi ng l arge f i r ms of t en f ocus on known probl ems and sol ut i ons
whereas new vent ures ( whet her i n st ar t ups or exi st i ng f i r ms) f ace a di ff erent chal l enge: un-
known probl ems and unknown sol ut i ons. Thi s means t hat t he t echni ques t o t r ai n Sl oan
manager s may not wor k wel l t o t r ai n Dur ant ent repreneur s. Despi t e t he val ue t hat Sl oan
manager s add t o soci et y, t he wor l d needs t he br ash i nnovat i veness of Dur ant ent repreneur s
t ocreat e t he next wave of i nnovat i on. Recent research has begun t o i nvest i gat e t hi s new
approach t o ent repreneur shi p educat i on, t he vi r t ual concept known as t he Dur ant School of
Ent repreneur shi p.
The I BMC i s cur rent l y co-host ed by Br i gham Young Uni ver si t y, Har vard Uni ver si t y, and
St anf ord Uni ver si t y.
I BMC FOUNDI NG & SPONSORS
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON I 33
Over 85 percent of new busi nesses f ai l wi t hi n a f ew year s, of t en because t hey t r y t o pl an
t hei r way t o success. I t s t i me t o change.
The I nt er nat i onal Busi ness Model Compet i t i on represent s a r adi cal depar t ure f rom t he past
and t he crest of a new par adi gm i n ent repreneur shi p. The I BMC i s not a busi ness pl an
compet i t i on. Rat her t han f ocusi ng on devel opi ng a robust busi ness pl an, compl et e wi t h
f i nanci al s and sl i ck present at i ons, t he busi ness model compet i t i on f ocuses on i dent i f yi ng
and preci sel y def i ni ng t he assumpt i ons of t he new vent ure, t est i ng t hose assumpt i ons i n
t he f i el d, and t hen pi vot i ng ( changi ng) based on t he l essons l ear ned. The I BMC rewards
st udent s f or :
1. Breaki ng down i deas i nt o key busi ness model assumpt i ons
2. Get t i ng out si de t he bui l di ng and t est i ng assumpt i ons wi t h cust omer s
3. Appl yi ng cust omer devel opment and l ean st ar t up pr act i ces t o nai l t he pai n and sol ut i on
4. Lear ni ng t o pi vot ( change) unt i l ar r i val at a cust omer-val i dat ed busi ness model
Ul t i mat el y we bel i eve t hi s wi l l dr amat i cal l y i mprove t he success r at e of new vent ures. The
I BMC i s t he f i r st i nt er nat i onal compet i t i on of i t s ki nd and i s open t o al l st udent s enrol l ed at
an accredi t ed i nst i t ut i on of hi gher educat i on anywhere i n t he wor l d. Each year t housands of
st udent t eams f rom hundreds of school s al l over t he wor l d par t i ci pat e.
WHAT I S THE I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON?
WHAT WI NNI NG TEAMS DO
FI ND A PROBLEM
Fi nd a bi g cust omer probl em wor t h sol vi ng and wr i t e down al l your key hypot heses about
t he busi ness model t o sol ve t hi s probl em. We recommend t hat you use Al ex Ost er wal der s
Busi ness Model Canvas as a scorecard t o t r ack your assumpt i ons and t he changes t hat you
make.

NAI L THE PAI N
Get out si de t he bui l di ng and i nt er vi ew cust omer s f ace-t o-f ace t o under st and t he j ob cus-
t omer s are t r yi ng t o do, t hei r cur rent pai n, and how t hey sol ve t hat pai n. Pi vot when you
di scover you are wrong.

NAI L THE SOLUTI ON
Devel op a mi ni mum vi abl e product prot ot ype and get out si de t he bui l di ng f ace-t o-f ace wi t h
cust omer s t o t est your vi si on of t he sol ut i on. Pi vot when you di scover you are wrong. Re-
peat t hese t est s unt i l you nai l t he sol ut i on.

NAI L THE GO- TO- MARKET STRATEGY
Get out si de t he bui l di ng t o under st and t he end-t o-end cust omer buyi ng process, and t he
mar ket communi cat i on and di st r i but i on i nf r ast r uct ure. I dent i f y t he l ever age poi nt s. Pi vot .

NAI L THE BUSI NESS MODEL
Use t he f act s di scovered t o val i dat e t he revenue model f or t he busi ness.

PI VOT
Throughout t he process l ear n t o change cour se whenever you di scover you are wrong.
Remember, t he goal i s val i dat ed l ear ni ng about t he busi ness model assumpt i ons and f ai l i ng
ear l y i s a success compared t o f ai l i ng l at e.
34
Owl et Baby Car e
Bosse Tool s
The Owl et Smar t Sock i s a devi ce t hat f i t s on a babys ankl e and moni t or s i t s
vi t al si gns. Conveni ent l y del i vered t o a smar t phone, parent s have access t o t hei r
chi l ds hear t r at e, ski n t emper at ure, oxygen l evel s, and sl eepi ng posi t i on. Thi s
devi ce gi ves parent s a pi ece of mi nd and conf i dence t hat t hei r baby i s doi ng wel l .
Af t er wi nni ng l ast year s I BMC, Owl et Baby Care has
gai ned si gni f i cant t r act i on. The company has successf ul l y
r un a crowdf undi ng campai gn and pre-sol d $300, 000
wor t h of devi ces. Just recent l y Owl et r ai sed $1. 85 mi l -
l i on f rom mul t i pl e f i r ms i ncl udi ng ff Vent ure Capi t al and
Eni ac Vent ures. The company al so compl et ed t he RGA
Connect ed Devi ces Accel er at or t hrough Tech St ar s.
Companys VP of Sal es, Jordan Monroe, at t r i but es t hei r val i dat i on-dr i ven
approach t o product devel opment t o t he I BMC. He says, The I BMC t aught us how
cr uci al i t i s t o st i ck cl ose t o t he cust omer and t o make product deci si ons based
on t hei r vi ews. I f t he cust omer i s not i nvol ved, t he product r uns a r i sk of bei ng
unwant ed. The next f ew mont hs wi l l be ver y busy f or Owl et Baby Care as t hey
prepare t o shi p t he f i r st r un of t hei r product t o cust omer s.
Bosse Tool s i s a st ar t up company t hat i s changi ng hardware t ool s t hrough er-
gonomi cs. They are t r ansf or mi ng const r uct i on, agr i cul t ure, l andscapi ng, and
home-gardeni ng. Thei r or i gi nal product i nnovat i on was an ergonomi cal l y desi gned
shovel wi t h a rot at i onal handl e, rei nf orced shaf t , and cust om cent ered f oot st ep.
Af t er compet i ng i n t he I BMC, Bosse Tool s l aunched a successf ul crowdf undi ng
campai gn on Ki ckst ar t er and r ai sed over $64, 000. The company has al so been
f eat ured i n dozens of nat i onal news medi a out l et s.
Company f ounder, St ephen Wal den, says t hat t he
bi ggest t hi ng hes l ear ned so f ar wi t h ent repreneur-
shi p and i nnovat i on i s t o l ear n f rom ever yone.
Wal den expl ai ns t hat no mat t er who you are t al ki ng
t o, ever yone you meet becomes f ree i nf or mat i on
t hat shapes your success. Bosse Tool s cur rent l y
manuf act ures ergonomi c spade, snow, and f l at head shovel s. But Bosse i s not
j ust a shovel company. They have pl ans t o creat e ever yt hi ng f rom speci al i zed
const r uct i on t ool s t o gardeni ng equi pment al l benef i t t i ng f rom our ergonomi c
desi gns. Al l of t hese t ool s wi l l event ual l y be avai l abl e wi t h bot h rot at i onal and
st at i onar y handl es.
SUCCESS STORI ES
owl et car e. com
bosset ool s. com
BABY MONITORS
2014 I NTERNATI ONAL BUSI NESS MODEL COMPETI TI ON I 35
Fi ber Fi x
f i ber f i x. com
Fi ber Fi x i s t he wor l ds st rongest repai r wr ap. Based on t he or t hopedi c cast i ng
t ape t hat doct or s use t o f i x broken bones, Fi ber Fi x has a uni que resi n and f i ber
st r uct ure t hat hardens l i ke st eel and makes i t 100x st ronger t han duct t ape. Fi ber-
Fi x can be used f or al l t ypes of househol d repai r s f rom broken shovel handl es t o
l eaky pi pes. Dont repl ace i t ; f i x i t f or good wi t h Fi ber Fi x.
Bef ore compet i ng i n t he 2013 I BMC,
Fi ber Fi x was i n about 100 st ores. Now
Fi ber Fi x can be f ound i n over 10, 000 st ores
across t he US and i nt er nat i onal l y and i s
cont i nui ng t o grow on aver age of about 100
st ores per week. Fi ber Fi x can now be f ound i n 34 di ff erent count r i es, i ncl udi ng
Nor way, Aust r al i a, Sout h Af r i ca and Azer bai j an.
Spencer Qui nn, CMO and Co-Founder at Fi ber Fi x, says t hat , t he busi ness model
approach i s our busi ness. We ve al ready deci ded t o rol l out new product s based
off of t he cont i nual f eedback we get f rom cust omer s. Our abi l i t y t o r api dl y pi vot
i n t he devel opment of new product s has gi ven our smal l company a compet i t i ve
advant age over pl ayer s t hat have been i n t he i ndust r y f or year s.
Fi ber Fi x i s rol l i ng out new product s t o suppor t t he Fi ber Fi x br and i ncl udi ng t he Fi -
ber Fi x Pat ch, Fi ber Fi x Heat Wr ap and Fi ber Fi x Screen Mend and a secret product
whi ch wi l l be reveal ed i n ear l y 2015.
SUCCESS STORI ES
A SPECI AL THANKS TO OUR SPONSORS
ALTA VENTURES
KI CKSTART SEED FUND
SPACE MONKEY
FI NLAND CANADA JAPAN JAMAI CA
2014 QUALIFIER COMPETITIONS
businessmodelcompetition@gmail.com www.businessmodelcompetition.com