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Tulane Business Model Competition

This proposal outlines the Tulane Entrepreneurs Association’s decision to build upon the success of the Tulane Business Plan Competition by moving to a business model competition.  Nationally, leaders in entrepreneurship are beginning to recognize the faults in business plan competitions.  These competitions reward the ability to write a plan and navigate the legal and financial complexities of establishing a new business. While these skills are important, if the entrepreneur does not first develop a profitable business model, rewarding competitors on these skills alone neither creates successful new businesses nor leads to student learning in entrepreneurship. Business model competitions reward the entrepreneurial learning process by requiring competitors to identify assumptions about their business models, test those assumptions in the marketplace, and learn from the failures of those tests.  This process helps ensure that the resulting business model has a tested, proven market. The hands-on nature of business model competitions increases the likelihood of success among the competitors’ new ventures and creates more opportunities for students to engage in the entrepreneurial process. By switching to a business model competition, the Freeman School will continue to establish itself as a leader in entrepreneurship.

Dates

Event

Description

9/25/13 TEA Workshop Series: Introduction to Business Model, Ideation/Problem Discovery/Customer Research Seminar with a focus on identifying value propositions and developing cutting edge research methodologies.
10/23/13 TEA Workshop Series: Identifying Revenue Streams for New Ventures Seminar that focuses on identifying customer segments and building customer relationships and channels.
11/22-24/2013 Startup Weekend Weekend long meetup that pushes teams to develop or continue to build their business models. Cap to Global Entrepreneurship Week, meant to produce strong candidates for TBMC.
1/15/14 Deadline for applications Last day applications will be accepted.
1/31/14 Announce winners 8 semi-finalists announced.  All semi-finalists receive $1,000 in seed money to be used to develop their business.
2/13/13 TEA Workshop Series: Financial Modeling, Valuation, and Accounting for New Ventures Seminar intended to develop financial skills necessary for new businesses.
2/27/13 TEA Workshop Series: Market Research/Marketing for New Ventures Seminar that focuses on developing cutting edge market research and marketing techniques.
3/13/13 TEA Workshop Series: Pitch Workshop/Investor relations Seminar to teach teams how find and deal with investors. Teams will also be prepped on how to present at NOEW.
3/19/14 NOEW Eight Semi-finalists will present business models to a panel of judges and maintain a booth to answer questions. Three finalists will be selected and each finalist will receive $2,000 in seed money to further development of their business.
4/11/14 Final Competition Finalists will present business models to panel of judges.  Winner of the business model competition receives $25,000.  Runner up receives $10,000.
4/15/14 Submit winner to International Business Model Competition Winner is admitted to semi-final of the International Business Model Competition.