WBIT is an entrepreneurship competition open to undergraduate and graduate students attending any two- or four-year University of Wisconsin school across the state (except UW-Madison). It teaches cutting-edge Lean Startup business development tools, provides business mentorship, and allows participants to compete at a state level for a chance to win seed funding for their idea as well as a chance to compete internationally at the 2018 International Business Model Competition (IBMC).
Over 85 percent of new businesses fail within a few years, often because they try to plan their way to success. It’s time to change.
WBIT represents a new paradigm in entrepreneurship. WBIT is not a business plan competition but rather a business idea competition based on a new way of thinking about the entrepreneurial process and business concept development. Instead of preparing a detailed business plan, student teams will identify and test their business assumptions EARLY in order to quickly identify customers and market potential and present the findings of their work in a brief 10 minute presentation to judges.