The Business Model Competition represents the first, international business model competition and is part of a ground breaking approach to entrepreneurship that focuses on the process of improving the inputs into entrepreneurship rather than the outputs. Specifically, rather than focusing on outputs like business plans or fundraising, this new approach focuses on the key tasks of testing unexamined assumptions in the field and developing validated business models which is usually manifest through a deep customer understanding and traction. The BMC is open to students nationwide and internationally.