NEW ZEALAND: BUSINESS MODEL VALIDATION LAB

What:  This New Zealand Business Model Validation Lab is a 5-day hyper-accelerator for early-stage ventures that are tackling social and environmental problems. It is designed to help these entrepreneurs rapidly identify and validate the foundational assumptions of their business.  The lab is welcome to anyone in the South Pacific and will take place in Christchurch, New Zealand.

Where’s All the Info:  Hopefully this page covers it all. If there’s something we’re missing, please shoot us an email at info@ministryofawesome.com

Why New Zealand: Post-Earthquake Christchurch, New Zealand is a hot-bed for innovation and entrepreneurship. By harnessing this landscape and the wide community of creative thinkers and problem solvers we have a strong foundation to create enterprises that will make make a national and global impact.

Get Involved:  Apply to be an entrepreneur, become a mentor, be a sponsor, or help our Lab team find entrepreneurs. Read on to get involved!

The Problem

The early stages of a startup are marked with questions. Who is my customer? What problems do they have? Do I have a solution to their problems? What are they willing to pay? Will I be able to break even? An entrepreneur’s ability to quickly convert these questions into answers is one of the few characteristics that separates successful startups from failed ones. The problem is that few entrepreneurs know the rapid and systematic approach required to answer these questions. They go too slow, they focus on the wrong things in the wrong order, and they move forward without truly validating a business model.

THE LAB

The Business Model Validation Lab is designed to do one thing: provide entrepreneurs with a step-by-step methodology to rapidly and systematically validate their venture’s business model. The Lab will help entrepreneurs to:

The curriculum of the Lab oscillates between in-classroom workshop time and in-market customer interaction time. By the time the Lab is complete, entrepreneurs will have:

  • Completed a venture map identifying the foundational assumptions of the business
  • Learned a repeatable methodology for how to do customer discovery
  • Built 2-3 prototypes of a key element of their venture
  • Tested prototypes with real customers
  • Learned how to build and maintain mentor relationships
  • Met and received feedback from 10-12 world-class mentors
  • Conducted a break-even analysis of their business and identified the key cost and financial assumptions of their business
  • Built out a basic budget and financial model
  • Created a 6-month operating plan