What is the WV Innovation and Business Model Competition?
The West Virginia Innovation and Business Model Competition (WVIBMC), now in its second year, is open to all West Virginia college/university students. All students who enter WVIBMC will attend and compete at Innovation Weekend on Marshall University’s Campus on March 6-7. The top 5 teams will advance to the Statewide Finals on Thursday, April 2 in Charleston, WV.
WVIBMC focuses on helping college students in West Virginia find a wicked problem that they can apply their skills and strengths to solve. Using Design for Delight (D4D), Intuit’s approach to design thinking, students will create game-changing solutions and develop business models by testing their assumptions on real customers. They’ll take what they learn and either validate key assumptions or pivot and change course.
The WVIBMC is passionate about giving students the mindset and tools they need to innovate high-impact businesses that will change their lives and the lives of those in the state and beyond. The WVIBMC fosters the development of real, innovative, and sustainable business models. The WVIBMC is made possible due to the generosity of the Robert E. Yancey, Sr. Entrepreneurship Endowment and Intuit.
Statewide Finals Prizes
- First Place – $5,000, Trip to Silicon Valley, Advance to the Business Model Competition Global Final
- Second Place – $3,000, Trip to Silicon Valley
- Third Place – $1,000
- Remaining Teams – $500
New for 2020! This year, students will qualify for the Statewide Finals in a new and exciting way! All students who enter the WVIBMC must attend Innovation Weekend, which will take place from Friday, March 6 to Saturday, March 7 on Marshall University’s campus in Huntington, WV. Food will be provided to all participants and lodging will be provided for students who live more than an hour away from Huntington. Please see our FAQ page for more details.
At Innovation Weekend, students will form teams within their universities (up to 5 students per team) based on their personal strengths, skills, and passions. Students will learn and apply Design for Delight (D4D), Intuit’s approach to design thinking, to a problem chosen by their team. Teams will practice customer driven innovation using real customers in downtown Huntington to develop a solution to their problem. Competitors will then turn their solution into a business using the business model canvas and refine their business model in the remaining time through prototyping and testing.
Innovation Weekend will culminate on Saturday with each team presenting their business model to a panel of judges. The top 5 teams will advance to the Statewide Finals on April 2, 2020 in Charleston, WV, for a chance to win up to $5,000 and a trip to Silicon Valley. The top team will advance to the Business Model Competition Global Final at Brigham Young University in Provo, UT.