Empresario represents a radical departure from the past and the crest of a new paradigm in entrepreneurship. Empresario is not a business plan competition. Rather than focusing on developing a robust business plan, complete with financials and slick presentations, business model competition focuses on identifying and precisely defining the assumptions of the new venture, testing those assumptions in the field, and then pivoting (changing) based on the lessons learned. It rewards entrepreneurs for
The International Business Model Competition is about recognizing that any new venture is just a guess at a problem / solution and the only valid way to test whether those guesses are right is to “get outside the building” and start working with customers. So what exactly is the difference between a business model and a business plan?
Based on, Steve Blank’s Customer Development process, Alexander Osterwalder’s Business Model Generation book, and Nathan Furr’s Nail It then Scale It process.
All the teams who qualifies the first round, need to submit a documentation which must adhere to the following submission requirements:
Although there is not one format for successful submissions, we suggest that it should contain the following components:
When inventors come up with a new device, the first thing they want to do is patent it. Patents are enforceable rights in a particular jurisdiction given to an inventor to exclude others from using, making or selling their invention. For a certain period of time, patent-holders are allowed to control how their inventions are used, allowing them to reap the financial rewards of their work. Patents are a palpable, legally-binding manifestation of a person's genius and innovation; they allow a person to actually own an INVENTION.
One can obtain a patent by filing a patent application in a prescribed format in any one of the four patent offices in India. Patent application will result in defining your rights over the invention and how broadly you have protected your invention. Even simple words in patent application can change your right over the scope of invention drastically. Patent attorneys or patent agents are the best people to write and draft your application. Filing an invention in India will give you a right only in India as patent right is jurisdictional in nature. One has to file patent applications in other countries wherever he/she feels the invention needs to be protected.