One competition – three independent contests – from September through May. For 25 years, the MIT $100K Entrepreneurship Competition has been bringing together students and researchers from across MIT and Greater Boston to launch their talent, ideas, and technology into leading companies. The competition is run as a series of distinct, increasingly intensive contests: Pitch, Accelerate, and Launch.
Each contest focuses on developing specific founding skills, and for each semi-finalist contender the MIT $100K brings together a network of resources, including mentorship from venture capitalists, serial entrepreneurs, corporate executives, and attorneys; media exposure; prototyping funds; business plan feedback; and discounted services. Additionally, more than $300K in non-dilutive awards help these new ventures accelerate.
Accelerate is the second contest of the MIT $100K. The purpose is prototyping. Semi-finalists will have a small budget, access to industry experts, and a dedicated month to test the idea's manifestation into a product or service. They then present their prototypes behind closed doors. Ten outstanding finalists compete live for a $10K Grand Prize and a $3K Founder.org Audience Choice Award.
Launch is the final contest in the $100K cycle. Semi-finalists are expected to present not just prototypes but full business plans, and they receive funding and elite mentorship along the way. Finalists present onstage to a 1,200+ live audience from Cambridge, Boston, and beyond. Companies worth more than $16B in market capitalization have walked the stage before them. The Grand Prize? $100,000.
Applications will go live February 21st, and be due on March 10th by Midnight.
Interested in finding a team or co-founder? Attend our Launch Mixer February 23rd hosted by InTeahouse at 6pm in Central Square. Signup here to join the invite list.
Pitch is the first contest of the MIT $100K. Are you considering a business idea but haven't yet developed the details? Practice articulating a 90-second pitch in front of a panel of experienced judges, get feedback on your idea and presentation from both judges and mentors, and compete for both the $4K Grand Prize and the $2K Founder.org Audience Choice Award.