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 Judging

How does judging work?

Choosing $1K Winners, $100K Semifinalists and $100K Finalists consists of three phases to each judging round.

1. Plans (or summaries) are broken into groups. Each group is read and rated by (typically) four judges individually, before the actual judging day.

2. On judging day, each group of four judges selects a subset of plans to advocate in the last phase.

3. All judges come together and select the winners or the plans that advance to the next stage in the Competition, as appropriate.

In choosing the $100K Winners, all judges read the business plans of all finalists, and then the finalist teams make 20-minute oral presentations of their plans, including demos if appropriate. The judges then have about 10 minutes of Q&A with each team. After all teams have presented, the judges select the runners-up and the winning teams.

Who are the judges?

The judges are a panel of professionals who dedicate many hours during the year to reading plans and providing feedback. They can be segmented into three general categories: venture capitalists and angel investors; successful entrepreneurs; and professional services providers working in the venture community. Most have strong ties to MIT, but this is not a requirement.

What do the judges look for in a plan?

The judges look at many different issues when evaluating executive summaries and business plans, including:

  • Is the business opportunity as presented both highly attractive and clearly realistic?
  • Is the business defensible from competitors?
  • What is the business model?
  • What comparisons are there to past success stories that indicate this venture will succeed?
  • What is the amount of up-front capital investment required?
  • Do the market and financial projections demonstrate that the team understands its business?
  • How long will it take from the current stage of development to bring this to market?
  • Can this venture achieve a leadership position in its market?
  • Has the team gone out to the market already to test its ideas?
  • Who will be the first customer(s)?
  • Is the team of sufficient breadth, balance and quality to make its ideas happen?
  • Will the ego of the founder(s) get in the way of success?
  • Is the team focused on its target market?
  • What is the expected time and amount of pay-off to investors?
  • Is the reader familiar with and interested in the given market space?
  • Is the plan clear and well-written?
  • Does the team have the necessary communications skills to present a compelling story?
  • What roles will the team members play in the venture?
  • Are the team members dedicated to the venture and their roles in the group?
  • Does the team have a clear plan for spending the investment money it receives?
  • Why is this business going to be around and a real world winner in 5 years?

    How do I become a Judge?

    If you want to become a judge, please send an e-mail to the judging team, expressing your interest.

    While the MIT $100K Entrepreneurship Competition is run by current MIT students, we rely on the help of people outside of the current MIT student population. Click here to review all of the involvement opportunities available at the $100K.

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