The AdVENTURE Business Model Competition is an exciting trinational partnership between the University of Maryland, Peking University and the Technion. Students from the United States, China and Israel meet virtually in a structured online platform, develop and validate business models in crossnational teams, and compete in an inperson competition in Beijing.
Learning Objectives
As a result of taking this course, students should be better able to:
1. Use business model canvas to identify and develop a business idea.
2. Understand Chinese culture, norms and business practices.
3. Prepare written and oral presentations and work as a team member.
4. Improve your pitching & presentation skills
5. Understand the Lean Startup Framework
Competition Timeline
● March 26: NovoEd Platform Opens
● April 4: Students upload 60 second pitch to NovoEd.
● April 7: Students vote for best ideas & provide feedback to ideas. Top ideas advance. Mentors may also provide feedback and interact at this time.
● April 8-April 11: Best idea winners find and recruit team members.
● April 11 11:59PM EST. Team’s finalized. Complete Team Entry Exercise on NovoEd.
● April 11-April 25: Students engage in customer discovery and business model validation.
● April 25 (10:00EST11:30EST): Business Model Canvas Presentations
● April 26-May 8: Students engage in customer discovery and business model validation in preparation for third class.
● May 9 (10:00EST11:30EST): Fourth Class: Business Model Canvas Presentations
● May 10-May 29: Students engage in customer discovery and business model validation in preparation for competition.
● May 24-June 1: US and Israeli China travel dates (Hong Kong May 25-28/Beijing, May28-31).
● May 30: Competition Day at Peking University
Judging Criteria (6 awards):
1. Most disruptive or innovative idea / Highest profit potential (First Place, Second Place, Third Place)
The winner of the competition will present an idea that, in the view of the judges, will have the potential to radically change industries in a positive way for consumers and users and/or has the highest potential profit potential. Ideas that combine both these elements successfully will likely appeal to the broadest group of judges. Radical, disruptive ideas must have a plausible expectation of success. For example, while a teleportation machine would radically change the transportation industry, it is not a serious idea due to the current state of technology. Successful ideas will have a high level of product/market fit.
2. Best leveraging of resources in more than one of the following countries the United States, China, and Israel (1 winner)
Ideas that leverage resources of both the United States and China will be given higher weight. To do this successfully, crosscultural teams will be advantageous.
3. Best use of the Lean Startup Methodology (1 winner).
Teams that best used the business model canvas to facilitate their customer and business model discovery will be given higher weight in the judging.
Competition presentations:
Recommended presentation structure of the 4 minute pitch:
1. A 2 ½ minute narrative describing the team pivots (i.,e., how you got where you are now see (http://www.slideshare.net/sblank/projecttealfinal2013stanforde245video).
2. A 90 second business pitch
3. The first round will have 2 minutes of Q&A per team. The final round will have 4 minutes Q&A per team.
Registration:
If you are interested in the competition, please submit your information (Name, Student ID, Email, Phone) ASAP to Professor GAO，Yan (Email:yangao@gsm.pku.edu.cn) by April 4th. Feel free to contact us for further questions by 62747049 (CIE office).
