When developing a new business, it’s important to ensure that a viable Business model is developed and validated before full scale execution.
Centennial College’s Lean Canvas Training and Development is an experiential program for early stage enterprises facilitating hands-on development of validated business models and planning to build the business.
The program is modelled on Steve Blank’s Customer development process which has been adopted world over including Stanford, Berkley, NYU and several US government departments. The business model of any business can be represented by Business Model Canvas having nine elements. The program uses Business Model Canvas as a score card and involves searching, iterating, developing and validating these nine elements among others, using learning by doing process in the field aided by coaching and mentoring. The participants also work on market, competition and understand financials as they develop and validate value proposition for customer segments, revenue model, Channels, cost structure, partnerships and key metrics. The process is applicable to any business, regardless of sector.
Lean Canvas Training and Development program is part of Business Innovation and Growth Program at Centre of Entrepreneurship supported by National Research Council-Industrial Research Assistance Program (NRC-IRAP). Four early stage Founders in this program made lessons learned presentations and the iterations based on the customer development done by them as well as pitched their business on March 8.
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