Tools

Business Model Canvas 101 - A guide with a Deep Tech example

By
Innokite Marketing Team

How to use the Business Model Canvas

The Business Model Canvas (BMC) is a powerful tool that helps entrepreneurs and businesses map out their business models in a structured way. It consists of nine building blocks that provide a clear framework for how a business creates, delivers, and retains value. This tool is invaluable for visualizing your objectives and the steps needed to achieve them.

Benefits of using the Business Model Canvas

  • Provides a clear overview of all essential aspects of a business model, ensuring focus on key priorities.
  • Encourages strategic thinking by forcing teams to avoid unnecessary details and concentrate on critical factors.
  • Enhances collaboration as the visual nature of the BMC makes it accessible and understandable for all stakeholders.
  • Allows flexibility and can be easily adjusted as the business evolves.
Business Model Canvas template

The 9 building blocks of the Business Model Canvas

  1. Key Partnerships – Who are your key allies?
  2. Key Activities – What are the main actions the company takes?
  3. Key Resources – What assets are needed to operate?
  4. Value Proposition – What problem are you solving?
  5. Customer Relationships – How do you interact with customers?
  6. Channels – How do you reach your customers?
  7. Customer Segments – Who are your customers?
  8. Cost Structure – What are the main costs?
  9. Revenue Streams – How does the company make money?

Now, let's explore this framework with an example: an AI software startup that provides advanced data analytics for the healthcare industry.

Practical example: an AI software startup

Imagine as an example an AI startup who provides help and organization services for hospitals and other health care facilities. Their business model canvas could look like this:

Business model canvas - AI startup example

Innokite Weekend - Practice by doing

At Innokite, we aim to support entrepreneurs in taking their ideas from concept to reality. The Business Model Canvas is a great starting point, but success comes from turning ideas into action. If you want to apply these skills in a hands-on way, join us at our upcoming Innokite Weekend and get the opportunity to enhance your entrepreneurial abilities, network with innovators, and compete for up to €500 in prizes!

🚀 Sign up here!