This year the Burton D. Morgan Center for Entrepreneurship at Purdue University is organizing a Business Model Competition. The Burton D. Morgan Business Plan Competition has been a staple at Purdue University for 30 years, and is an opportunity to celebrate, recognize and nurture students who seek to bring their creative, innovative ideas to life.
The evolution of the business plan competition, which will now also focus on documenting and refining a new business model, is driven by the thought that new firms are fundamentally in the search (and discovery) mode, as opposed to planning. Therefore, the focus on initially defining a sustainable, profitable business model will help teams address a key element to contribute to future success of the business.
This year, there will be three tracks. Teams will participate in one of the three following groups/cohorts:
Open / Big Idea: Concepts that have a very large potential market (both monetarily & geographically)
Social innovation / non-profit: Ideas primarily focusing on addressing socioeconomic needs/challenges – may be within developing countries or underserved populations
Small business: Business that will target a smaller geographic region; have a slower, methodical growth rate and be an incremental innovation to existing practice
Participants should expect to build comradery with fellow teammates, develop professional skills, learn about key concepts important to creating new businesses (and products) and HAVE FUN!
Tentative Timeline (check with the Burton D. Morgan Center for final details)2017
Info session and Callout
Business Model Canvas, Market Analysis & Discovery Workshop
Entrepreneurial Finance Workshop
Communicating the Concept and Presentation Workshop
Preliminary Team Presentations & Finalist Selection
Competition Reception, Finalist Team Presentations and Awards