ABOUT

The Business Model

From a lean start-up method perspective, a business model is a transitional framework that aims to identify a customer problem and a repeatable and scalable business solution to that problem. This model focusses on early-stage adaptability (also known as “pivots”) based on direct customer and potential partner feedback in response to the details in the model itself, including basic product prototypes. This hypothesis-driven adaptive structure eliminates unnecessary time and money spent on the development of long-term business plans that are based primarily on secondary research and early-stage large-scale product development. To this end, it is expected that the use of business model ideology by entrepreneurs will reduce their initial investment and optimize their practices, ultimately leading to increased success for start-ups and established companies alike.

More information on the lean start-up method and business models can be found in the Resources section.

The Competition

The main goal of the RBC-EPIC Business Model Canvas Competition (BMCC) is to educate entrepreneurs and provide them with tools to help launch more successful ventures.

The BMCC invites student entrepreneurs to learn about business models, business model validation, and the business model canvas and then demonstrate their understanding through a video submission of their own entrepreneurial experiences that exhibit these concepts. Semi-finalists will then be chosen to participate in live presentations based on the content of their video submissions.

PRIZES

 1st Prize

 

2nd Prize

  • $2,500 cash
  • 6 months of dedicated desk space at EPICentre
  • Consulting Services from KPMG

Postmedia Logo

People’s Choice Award

  • $2,000 in kind of Postmedia advertising
  • The winner of this award will be based on their presentation skills and overall effort, drive and tenacity with their venture startup and use of the business model canvas. All live presentations will be considered for this award.

*All teams travelling from a significant distance outside the Windsor-Essex area will be reimbursed for travel expenses, up to a maximum of $1000 (receipts will be required).

EVENT SCHEDULE

(Tentative)

Friday, November 17th
  • 2:00 - 3:00 PM

    Registration (EPICentre)

  • 3:00 - 4:00 PM

    Welcome and Orientation (EPICentre)

  • 4:00 - 4:45 PM

    Icebreaker Event (EPICentre)

  • 5:00 - 6:30 PM

    Dinner with Key Note Speaker (CAW Student Centre)

  • 7:00 - 9:00 PM

    Mentorship & Presentation Prep (Odette School of Business)

Saturday, November 18th
  • 8:30 - 10:00 AM

    Breakfast and Registration (Odette School of Business)

  • 10:00 AM - 12:00 PM

    Semi-Final Competition (Odette School of Business)

  • 12:00 - 1:00 PM

    Lunch (Odette School of Business)

  • 12:45 PM

    Finalists Announced

  • 1:00 - 2:00 PM

    Finalists Preparation (Odette School of Business)

  • 1:00 - 2:00 PM

    Non-Finalist Event (Odette School of Business)

  • 2:30 PM

    Final Competition (Centre for Engineering Innovation)

  • 4:00 - 6:00 PM

    Cocktail Reception and Awards (EPICentre)