"Model Entrepreneur Competition (MEC) was launched ten years ago by Columbia Business School's Venture For All (VFA) in collaboration with IEG Global Association. MEC is the first entrepreneur competition that started at an Ivy League.

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MEC began in 2014, and we're celebrating its impressive 11th anniversary. From the start, MEC has aimed to inspire and empower young talents to present innovative ideas with real business potential. Through unwavering dedication, it has become a standout among global competitions.

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MEC winners have gained acceptance into prestigious institutions like Harvard, Stanford, Yale, UPenn, Johns Hopkins, Northwestern, Columbia, Cornell, University of Chicago, UC Berkeley, and others. This success showcases the caliber of talent nurtured by MEC, opening doors for aspiring entrepreneurs. As we commemorate this milestone, we are proud of MEC's impact on the next generation of visionary business leaders."

The Model Entrepreneur Road Map

Start with your Idea: It's crucial to clearly define the problem you're solving and the game-changing benefits it brings to your customers. What are the four questions every entrepreneur/innovator must ask to set the foundation for their venture?

Transform Your Idea into a Business Model: This is where your innovative idea takes shape and becomes a scalable business model. Discover the nine building blocks needed to frame your venture.

Understand your Customer: Do you have a 'target market'? Is it 'attractive'? It's not just vital, and it's the key to success to validate your assumptions by testing how well your product resonates with your target audience. This understanding will inform your decisions and prepare you for the market.

Market Attractiveness: Market research is not just a step. It's your guiding light in product development. It helps you assess market attractiveness, understand the competitive landscape, and find your place. This knowledge will give you confidence in your product and your market.

Designing your Product: Using "Design Thinking," which focuses on bias and behaviors and increasing customer value, to design a minimum viable product (MVP) quickly, test customer engagement, and gather valuable feedback.

Creating Your Brand Identity: How marketing, sales, distribution, and customer service integrate into your brand strategy. Utilizing the "tools" to develop the sales funnel and customer acquisition strategy.

Building Your Financial Pathway: How to build an integrated set of financials, which includes a balance sheet and income statement; understand the importance of cash flow and critical metrics and the funding challenges you may face.

Ready, Set, Launch: What legal considerations are necessary? The importance of team selection and partnerships; launch readiness and venture pitch.