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About Empresario

Empresario is the annual business model competition organized by Entrepreneurship Cell, IIT Kharagpur in association with International Business Model Competition (IBMC).
Entrepreneurship Cell is searching for innovative and enterprising ideas through Empresario. Empresario 2017-2018 provides a platform for students to get excellent professional mentorship from our experienced, varied and distinguished mentor pool, and to showcase their ideas in front of Venture Capitalists, Angel Investors and Industry Leaders. If you want to turn your idea into an entrepreneurial venture, then this is the perfect stage for you!

Why Business Model?

Over 85 percent of new businesses fail within the first few years.This Competition represents a radical departure from the past and the crest of a new paradigm in entrepreneurship.Unlike a business plan competition, participants won’t be rewarded for doing lots of library research, drawing fancy graphs, or crafting the perfect sales pitch to venture capitalists. Instead Empresario rewards entrepreneurs for:

Key Business Model Hypotheses

Breaking down their idea into the key business model hypotheses.

Testing Products

Getting outside the building and testing their assumptions with customers

Customer Development

Applying Customer Development / Lean Startup principles to make sure they nail the solution

Customer-Validated Business Model

Learning to pivot (or change) until they have a Customer-Validated Business Model with radically improved chances of success.