The International Business Model Competition is the first and largest competition of its kind in the world and represents a radical departure from the past and the crest of a new paradigm in entrepreneurship. The competition evangelizes lean startup principles and aims to educate and inspire smarter and more successful entrepreneurs.
he IBMC is not a business plan competition. Participants won’t be rewarded for doing lots of library re-search, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead, the competition requires a focus on actively identifying and validating crucial business model hypotheses rather than writing a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan.