USD's Invent-2-Innovate Business Competition Set for March 29

Invent-2-Innovate Business Competition Logo The Invent-2-Innovate Business Competition takes place March 29 at the Beacom School of Business.

VERMILLION, S.D. – The University of South Dakota is set to host the Invent-2-Innovate Business Competition (i2i) on March 29 at 1 p.m. at the Beacom School of Business located on USD’s campus in Vermillion. The competition is open to high school and college students and will award $7,000 in total prize money to the aspiring entrepreneurs.

The i2i competition started in 2015 and was modeled after the International Business Model Competition which leverages lean startup principles and focuses on the entrepreneurial process. The competition requires active validation of business model hypotheses rather than a static business plan, talking to customers outside the building rather than estimating a large but vague market through secondary data inside the building, finding out what customers want and building a little at a time rather than relying on the “build it and they will come” approach and “pivoting” or changing course rather than blindly attempting to follow an imperfect plan.

The i2i competition will reward student entrepreneurs for:

  1. Identifying and tracking key business model hypotheses
  2. Testing and validating those hypotheses with customers
  3. Pivoting and iterating their business model based on customer interactions and feedback

To enter the competition, students will need to register at www.usd.edu/i2i  and create a video submission no longer than 8 minutes in length or a detailed written document that explains their business idea, business model hypotheses and any action taken to validate them.

The deadline for submission is 11:59 p.m. CST on March 11, 2019. Finalists will be notified by March 15, 2019 whether they need to appear at the final round of the competition.

Find a complete breakdown of the rules as well as resources to help you prepare at www.usd.edu/i2i. Any additional inquiries can be made to innovation@usd.edu.

ABOUT THE BEACOM SCHOOL OF BUSINESS

USD's Beacom School of Business was established in 1927 and has been accredited by the Association to Advance Collegiate Schools of Business (AACSB) since 1949. The leading business school in the region, Beacom’s programs are consistently ranked among the top business schools in the nation by Princeton Review, U.S. News & World Report and others for its high-quality learning experience, student success, affordability, and high-caliber of faculty and students. Whether a student chooses face-to-face or online courses, Beacom’s programs emphasize real-world experience through professional organizations, quality internships and capstone projects.

ABOUT USD

Founded in 1862 and the first university in the Dakotas, the University of South Dakota is the only public liberal arts university in the state, with 202 undergraduate and 78 graduate programs in the College of Arts & Sciences, School of Education, School of Law, Sanford School of Medicine, School of Health Sciences, Beacom School of Business and College of Fine Arts. With an enrollment of nearly 10,000 students and more than 400 faculty, USD has a 16:1 student/faculty ratio, and it ranks among the best in academics and affordability. USD’s 18 athletic programs compete at the NCAA Division I level.

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