The InNOLEvation® Challenge: A Business Model Competition focuses on identifying problems and potential solutions, building effective teams and precisely defining the assumptions of a new venture, testing those assumptions in the field, and then pivoting (changing) based on the lessons learned.
Students are rewarded for:
- solving real problems with their business ideas
- breaking down ideas into key business model assumptions
- getting outside the building and testing assumptions with customers
- applying customer development and lean startup practices to nail the pain and solution
- learning to pivot (change) until arrival at a customer-validated business model
- businesses with a social mission at their core will also receive consideration for the Jim Moran Innovation & Social Entrepreneurship prize
For more information, visit the InNOLEvation Challenge® Website here.