Deadline approaching for 2015 Business Model Competition

College entrepreneurs have less than two weeks to enter the 15th annual Tulane Business Model Competition for a chance to win more than $25,000 in cash and prizes for promising startup ventures.

The contest, which is hosted by the A. B. Freeman School of Business and the Tulane Entrepreneurs Association, seeks early-stage ventures that demonstrate a market-tested ability to adapt to customers’ needs. It is open to any team led by at least two or more students enrolled in a college or university. To enter, teams must submit a company description and other details by 11:59 p.m., Jan. 30 at: http://tulane2015.istart.org/.

“The Tulane Business Model Competition is a way for Tulane University to recognize and foster high-potential ventures that have demonstrated the ability to test their assumptions in the field and then pivot based on that market feedback,” said Lina Alfieri Stern, director of operations with the Levy-Rosenblum Institute for Entrepreneurship.

Tulane will select six semi-finalists who will get to pitch, receive mentoring and network with a variety of “Lean Startup” experts on Monday, March 23, during New Orleans Entrepreneur Week. Lean Startup is a business development model created by entrepreneur and author Eric Ries. The three finalists selected by judges will then present their business models at Tulane University on Thursday, April 16.

Formerly known as the Tulane Business Plan Competition, the contest was reorganized last year to emphasize the importance of validating a business model through field research. The contest rewards ventures for breaking down their idea into a key business model hypotheses; testing their assumptions with customers; applying Customer Development / Lean Startup principles to make sure they nail the solution; and changing until they have a customer-validated business model.

For more information, visit LRI.Tulane.edu/competition.php.