IVenture: A Process-Driven Tool for Business Model Creation and Presentation

Abstract

Despite a rise in interest in software start-ups, most entrepreneurs struggle to find their footing and eventually fail. Novice entrepreneurs could benefit from a tailored process-driven experience for business model (BM) development, which would take the end user from conception to realisation. This research uncovers if a process-based experience could help entrepreneurs develop BMs and aid in documenting and presenting the outcome. This work discusses the efficacy of the Blitz Canvas model for BM generation using an application called iVenture, which is designed as a digital realisation of the said model. The model is shown to students at a university who have expressed interest in building their own start-ups. Qualitative data was collected in the form of feedback around their BM development experience, when using iVenture. Analysis of data showed potential for process-based models in BM development and a future for BM dashboards as online tools for planning and presentation.