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 2014-2015 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!
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
Breaking down their idea into the key business model hypotheses
Getting outside the building and testing their assumptions with customers
Applying Customer Development / Lean Startup principles to make sure they nail the solution
Learning to pivot (or change) until they have a customer-validated business model with radically improved chances of success.