BUSINESS MODEL CANVAS COMPETITION
HOW IT WORKS
The Spring Innovation Challenge is the Business Model Canvas (BMC) Competition. This university-wide event is designed to advance the most innovative entrepreneurial projects on campus. Based on the methodology of the Business Model Canvas, companies tell their story beginning from the idea stage and include any pivots along the way. It describes the rationale of how an organization creates, delivers and captures value. The Spring 2026 Business Model Canvas competition is scheduled for April 13-14, 2026 and will award up to $125,000 in seed funding.
This competition is open to faculty, staff, graduate students, undergraduate students and incubator startups. In addition, the alumni category of the competition will be open to UI Program or Academic Alumni.
KEY DATES
Application deadline: Friday, April 3
Undergraduate competition: Monday, April 13
University of Iowa Faculty, Staff, Graduate Student, or Research Park Startup competition: Tuesday, April 14
University of Iowa Program and Academic Alumni: Judged the week of April 20-24
Awards Reception: Wednesday, April 15
KEY DETAILS
Undergraduates
4-minute pitch with slides | 5 minutes of Q&A with judges
Grad/Faculty/Staff
5-minute pitch with slides | 10 minutes of Q&A with judges
BUSINESS MODEL CANVAS
The Business Model Canvas is a tool to help entrepreneurs walk through what it takes to start a business. This video walks you through that process to help you build a successful business.
GET A JUMPSTART
Get a jumpstart on the competition! Check out our Innovation Training page for videos and worksheets from experts with quick and easy tips to help you succeed in competitions and take your idea to the next level.
JUDGING CRITERIA
Developing your pitch...the following is criteria on which your pitch will be judged:
Identify Problem Did they identify the problem? Provide evidence it exists?
Identify Solution Did they identify the solution and the value it presents?
Feasibility How easily could idea be implemented? Do they understand the resources necessary?
Delivery/Engagement Are they passionate about the idea? Was the presentation engaging?
QUESTIONS?
Contact Patti Fields for any questions or additional coaching needs.
ELIGIBILITY INFORMATION
* Regarding student awards, international students are generally restricted due to international tax laws. Since they are not typically allowed to start a business, Iowa JPEC restricts seed funding awards for international students but may offer non-monetary recognition instead.
* We define "University of Iowa Program or Academic Alumni" as either having previously been enrolled as a student at the University of Iowa, or having participated in an Iowa JPEC outreach program. These outreach programs include Venture School alumni, Business Consulting clients, Small Business Development Center clients, Venture Mentoring Service alumni, and businesses who employed a student intern through our Iowa Innovation Associates program. University of Iowa Program or Academic Alumni will be eligible to participate in the second phase of the Challenge, the Business Model Competition, spring 2025
* Faculty, Staff, Graduate Students, and Incubator Startups: Winners from prior year Innovation Challenge are ineligible to apply for the same or similar project.
* Faculty, Staff, Graduate Students: Successful competition submissions are typically tied to UI research, technology, potential intellectual property, scalable or high-growth potential.
* Undergraduate Students: Winners of prior year Iowa Innovation Challenge are ineligible to apply for the same or similar project.