"Your customers are the judge, jury, and executioner of your value proposition. They will be merciless if you don’t find fit!"
Alex Osterwalder

STEP 1: BUSINESS CANVAS

An important place to start any new venture is defining and understanding your business model; even asking the fundamental question, “Do I have a business?”.

These tools focus on the primary elements 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?
  • Have you spoken directly with prospective customers and other stakeholders to validate their interest?

Without a deep and clear understanding of these basic elements, it’s very difficult to realize success with your new technology venture. Below are resources on both the Business Model Canvas and Lean Canvas. Your canvas will be your initial tool to guide your work with ITEN mentors and help identify strengths and weaknesses in your business model and how other SCP modules should be prioritized.

Strategyzer by Alex Osterwalder business model canvas
Canvanizer both bmc and lean canvas
Lean Canvas creator Ash Maurya explains the difference

Connecting with mentors at this initial stage is important to get feedback on your canvas. We also strongly encourage getting assistance from mentors on how to prioritize the Validation Modules.

Mentors can be identified through our Mentor Match database.

To access Mentor Match & Validation Modules, you must log in as a Startup.

Haven’t joined ITEN yet? Click the button below to start the process. Once you’re application has been approved and you attend an Intake Session,  you will find the modules under the “My Options” menu.

Business Model Validation

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?
Have you spoken directly with prospective customers and other stakeholders to validate their interest?

Without a deep and clear understanding of these basic elements, it’s very difficult to realize success with your new technology venture. A good description of the underlying concepts of our Business Model Validation program can be found in Alex Osterwalder’s Business Model Canvas. The BMV program makes extensive use of the Business Model Canvas.

To access the application, you must log in as a Startup. Haven’t registered? Fill out our Startup Application and we we’ll get in touch with you! Once you’re approved as a Startup, you can fill out the Business Model Validation Application.