Business plan competitions, hackathons and similar challenges are important indicators for startups. Why? Whether a business model is successful, becomes visible in the “proof of concept” when the first customers are acquired. Another essential factor is the fundamental acceptance of the own products from the customer’s perspective. What else is important? Last but not least, you need qualified feedback from competent managers, consultants, coaches and visionaries who have the experience and a clear external perspective to examine the concept and future planning.
That’s why we have registered for the “Gründerpreis Ingolstadt” in the 2019/2020 round of the competition and submitted our business plan with the corresponding business model canvas to the jury.
Of course, as a strategically operating company you have a visualized concept which is usually kept up to date 😉 You could submit it in this form…
Since the own business is quite dynamic especially in the start-up stage, a detailed revision of the documentation is necessary for such an event. This is associated with much work.
So also with us. Above all, the formulation of the product pitch was important to us, because a software product in B2B that needs to be described must address its target groups quickly with an “aha” effect.
We think that we have succeeded.The concept of the “digitalization kit” can also be easily understood by a “non-tekkie”. Therefore we have based our description on this idea.
The jury saw it similar. That’s why we were able to win the special award Digital Business Model at this year’s “Gründerpreis Ingolstadt”.
The selection of the prize is very favorable, because professional feedback, important strategic connections and many new network contacts are extremely valuable for us.
Summary: The competition was a success for us. For the work we invested in adapting our concept, we were able to receive a really high value. Hence our call to all founders and start-ups: Use the possibilities of such competitions. This can be a real booster for your business.