Start Ups
The Business Model Validation program is designed for pre-revenue (concept stage or prototype stage) ventures and ventures that may be producing revenue but have encountered challenges to their basic business model. The program focuses on the primary elements of that need to be present in order for a successful business to be possible:
What is the problem you are solving?
What is your solution and why is it compelling or unique?
What is the revenue model for your venture?
Who are your customers and how big is the market?
Without a deep and clear understanding of these basic elements, it's very difficult to realize success with your new technology venture. A resource with a good description of the underlying concepts of our Business Model Validation is in Steve Blank's book, "Four Steps to the Epiphany."
ITEN has established BMV teams consisting of 4 experienced mentors. Companies that apply are assigned to one of these teams. The company works as long as necessary with their assigned BMV team until the basic elements of the business model are determined to be sound.
Pre-revenue companies wishing to participate in ITEN's other advanced programs must complete the Business Model Validation program first.
To apply for the Business Model Validation program make sure your Company Profile is up to date, then click here.
