ESPRIEX

ESPRIEX (Entrepreneurial Spirit Exchange) is Business Model and Lean Camvas Competition held by Faculty of Administrative Science Universitas Brawijaya, is an anual event which established since 2013. ESPRIEX is held by collaborating with international competition organizer of International Business Model Competition (IBMC) such as Brigham Young University and Harvard University. The competition requires active identification and validation of crucial business model hypotheses rather than the writing of a static business plan, talking to customers outside the building rather than gathering secondary data inside the building, applying customer development rather than relying on product development, and “pivoting” or changing course rather than executing on the plan. Specifically, the EBMC rewards student entrepreneurs for: 1. Identifying and tracking key business model hypotheses (use a canvas) 2. Testing and validating those hypotheses with customers (get outside the building) 3. Pivoting and iterating their business model based on customer interactions and feedback The goal is validated learning about the key business model hypotheses and failing early is a success compared to failing late. Ultimately, we believe this new approach will improve the success rate of new ventures, allowing entrepreneurs to save both time and money in the process. The EBMC is open to all students enrolled at an accredited institution of higher education anywhere in the world. The winner of this competition will represent ASEAN in the International Business Model Competition (IBMC) in USA.