RBC EPIC Business Model Canvas Competition (BMCC)

By mmuise
Description:

The main goal of the RBC EPIC Business Model Canvas Competition (BMCC) is to educate entrepreneurs and provide them with tools to help launch more successful ventures. The BMCC invites student entrepreneurs to learn about business models, business model validation, and the business model canvas and then demonstrate their understanding through a video submission of their own entrepreneurial experiences that exhibit these concepts. Semi-finalists will then be chosen to participate in live presentations based on the content of their video submissions.


Comments on Funding:

Prizes are as follows:
- Grand Prize of $10,000 in cash;
- Second Prize of $2,5000 in cash;
- People’s Choice Award of $2,000 in-kind advertising;
- Financial Competency Award of $750 in cash.
Each semi-finalist team will receive a $300 gift card to a tech retailer to use as they wish.
Each semi-finalist team member will receive a $30 credit for meal delivery to fuel their day on November 4th.

Deadline: -
Eligibility:

Applicants must:

  • consist of no more than 5 post-secondary students enrolled at least part-time at an accredited institution of higher education in Canada during the competition year;
  • be for student-created and -managed ventures, including new ventures launched by licensing university technology. Non-students may be part of the venture but cannot participate in the competition (e.g., video submission, pitching, Q&A, etc.);
  • be students that are expected to:
    a) be the driving force behind the new venture;
    b) have played the primary role in developing the business model;
    c) have key management roles in the venture, and
    d) own significant equity in the venture (If the company has allocated equity, the participating team members must collectively own 20% or more of it.).
  • No more than $100,000 will be allowed from friends and family, debt (any source — convertible, venture, traditional), accelerators, grants, and equity investments (angel and venture capital). Annual recurring revenue must not exceed $100,000. Combined investments and revenue must not exceed $100,000.
  • Ventures cannot be a buyout, an expansion of an existing company, a real estate syndication, a tax shelter, a franchise, a licensing agreement for distribution in a different geographical area, or a spin-out from an existing corporation. Licensing technologies from universities or research labs is encouraged, assuming they have not been commercialized previously.
  • While a venture may compete only once in the RBC EPIC BMC, team members may participate multiple times.
Application Steps:

1. Applicants must fill out and submit the application form;

2. To complete the submission form, they have to:

a) create a video presentation of no more than 5 minutes describing the customer discovery and validation they have been through with their idea and business model. They may use PowerPoint, Keynote, Prezi or any other presentation software. The presentation needs to be narrated and saved as a video file;

b) upload their video to YouTube

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

The previous deadline was on October 16th, 2022. (The program is no longer found in their website).

About the author
mmuise