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eBay Startup Cup by Kari Nelson, Impact Investing Intern, University of Virginia

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Starting a new company is inherently risky, but recently a new methodology called the “lean start-up” has been gaining traction and may help mitigate the risks associated with start-ups. This methodology emphasizes quick business development and testing ideas and products with real customers as soon as possible to get important feedback. The Harvard Business Review has written about these sorts of techniques as the new big thing business schools are beginning to teach and notes that they believe this methodology will help increase growth in the number of start-ups (https://hbr.org/2013/05/why-the-lean-start-up-changes-everything).

One approach to the lean start-up is called the Business Model Scorecard (BMSC) (pictured above), and it’s designed to help entrepreneurs build a viable business model and get products to market to start generating revenue much quicker than more traditional approaches. Last weekend (June 3-4), 111 start-ups got together at in3, a community space and incubat…