FAQ

What does a good pitch look like?

See the winners of last years EPC at http://www.mit100k.org/the-100k-competition/contests/

See accumulated pitch wisdom at http://www.mit100k.org/elevator-pitch-contest/50-days-of-elevator-pitch-wisdom/

I am not an MIT Student…can I still pitch and win?

Of course.  Check out the rules page for answers to other related questions (http://www.mit100k.org/elevator-pitch-contest/elevator-pitch-contest-rules/).

What is the MIT $100K?  Is the EPC a real MIT $100K event?

We’ve gotten this one a few times.  The MIT $100K is 1 Competition and 3 Contests.  Each contest is independent.  What this means is that you don’t have to enter or win one to enter the others (see below for details).  The first is the Elevator Pitch Contest (EPC), followed by the Executive Summary Contest (ESC) and culminating in the Business Plan Contest (BPC).

So yes, this is a very official MIT $100K event and the first and important step to $100K greatness.

If I don’t win the Elevator Pitch Contest can I still enter the Executive Summary and Business Plan Contests?

Of course – this is a zero risk trial.  The three contests  are independent.  That said, if you enter the Elevator Pitch Contest, you get valuable feedback that you can roll into your Executive Summary.  And if you enter the Executive Summary, you get valuable feedback that you can roll into your Business Plan.  And chances are, the more you’ve refined your idea the better it will be and the better your chances to win the big check.  So register now!  http://www.mit100k.org/elevator-pitch-contest/register/

What do I need to submit?  Do I have to have a business plan?

All you need to do is register, show up, and give a 60 second pitch outlining your business idea.  This is a great opportunity to practice pitching, get feedback on the idea and how you can improve it.  No business plan, slide decks, or prototypes are required (or allowed, see next question).

Can I bring in the device/prototype/slides/my dog/my roommate to help demonstrate?

No.  No props or any other visual aids allowed.  Just you and the mic.  http://www.mit100k.org/elevator-pitch-contest/elevator-pitch-contest-rules/

What am I being judged on?

Check out the Rules Page (http://www.mit100k.org/elevator-pitch-contest/elevator-pitch-contest-rules/) for a high level overview of what the judges are looking for.  When you are planning and rehearsing your pitch, imagine that you are pitching to an investor.  What would you need to tell them and how would you need to say it in order to convince them to give you their cash?  Answer that and you’ll win $5K on October 29th.

To get some ideas, watch the winners of last year’s EPC at http://www.mit100k.org/the-100k-competition/contests/

What am I waiting for?

We’re not sure either.  Go and register!  http://www.mit100k.org/elevator-pitch-contest/register/