Monday, October 17, is the deadline to apply for the first-ever RBC EPIC Business Model Canvas Competition, to be held at the University of Windsor on November 25 and 26.

The competition invites student entrepreneurs to learn about business models and demonstrate their understanding through a video submission of their own experiences that exhibit these concepts.

Judging is based on these criteria:

• Is the customer problem a ‘significant’ problem and was ‘significant’ defined?
• Did the team identify which initial hypotheses are most crucial for their business success and should be tested first?
• Did the team create fast, low cost, and effective methods for testing their hypotheses?
• Did the team use the testing methods they developed in a reliable and effective manner? 
• Did the team develop conclusions from the results of their testing and did they clearly state whether their hypotheses were validated or invalidated?
• Did the team pivot based on supporting evidence from their testing?
• Did the team develop a minimum viable product, as opposed to immediately creating a full product, which addressed their hypotheses for further testing?
• Did the team use a business model canvas to record their progress?
• Did the team provide evidence that their business model/solution to a customer problem was validated?

It aims to educate entrepreneurs and provide them with the tools to launch more successful ventures. One winner will receive a $10,000 cash prize, consulting services and office space to grow their business.

More information, including eligibility criteria and an online application form, are available at https://www.epicbmc.ca/.