business-modelVenture Development Process

 

 

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Building a Business Model

The business model is the heart of the venture. Put simply, how will this business make money?

It takes time to build a complete business model. Care must be given to really understand the voice of the customer.

It takes even more time and resources to develop a defensible business plan. Generally, startups are in search of a business model that works (one that can sustain the company) and if the company survives and gains traction, a business plan will be necessary for attracting funding.  The NC State Office of Technology Commercialization and New Ventures (OTCNV) supports completing a business model canvas as a first step to determining the business model that will make sense for the company.

In addition, when a Startup Company in which an NC State employee holds an ownership interest makes a proposal to OTCNV requesting to option or license intellectual property, the Startup Company will be required to provide OTCNV with a business plan or business model canvas  that includes the following information:

During this phase the university innovator will:

Triangle Innovation and Entrepreneurial Ecosystem Resources

Additional Resources – Videos

I-CORPS Faculty Toolkit 

Additional Resources – Web Links

Additional Resources – Books

Venture Innovation Partner (VIP) Services

NC State startups have the ability to work with one or more of our Venture Innovation Partners (VIPs) that have expressed interest in working with our startup companies.

Market Assessment Business Model Venture Formation Technology Rights External Visibility Mentor Network Leadership Team Technology Development Business Development Facilities & Equipment Resources & Capital Disclosure