VERMILLION, S.D. – The University of South Dakota Beacom School of Business will continue to host the 2020 Invent-2-Innovate Business Model Competition (i2i) in a virtual format. The competition is open to high school and college students and will award $7,000 in total prize money to aspiring entrepreneurs. The deadline to enter the competition has been extended to Friday, March 27, 2020.
The i2i competition started in 2015 to drive entrepreneurship among students throughout the region. The competition is modeled after the International Business Model Competition which leverages lean startup principles and focuses on the entrepreneurial process.
The i2i competition will reward student entrepreneurs for:
- Identifying and tracking key business model hypotheses
- Testing and validating those hypotheses with customers
- Pivoting and iterating their business model based on customer interactions and feedback
To enter the competition, students will need to register by March 27, 2020 at www.usd.edu/i2i and submit a detailed written document or video that explains their business idea, business model hypotheses and any action taken to validate them.
Finalists will be notified by Friday, April 3 if they have been selected for the final round of the competition and will be given instructions for how to complete their pitch in the new virtual format of the competition. In lieu of an in-person event, final video pitch presentations will be due on Friday, April 17. Submissions will be judged and winning teams will be announced by Friday, April 24.
“We are disappointed that we can’t continue with an in-person event this year, but with everyone’s health and safety in mind, we are happy that we can continue to host the i2i competition in a virtual format,” said Venky Venkatachalam, Ph.D., dean of the Beacom School of Business. “This event is a great opportunity to connect students with entrepreneurial leaders in our region and we still intend to allow that mentoring opportunity to happen.”