FAQ

What is an executive summary?

An executive summary is a short document that highlights the key aspects of your business – the core product or service, the target market, competition, your customer acquisition strategy, financial projections, and your team.

How long is the executive summary?

You will have two pages.  More granular rules will be up by Nov 23rd that will specify margins, etc.

What are the key dates?

Please check the Upcoming Events tab for more information on the deadlines and finale information.

What is the prize structure?

Track winner – $2,000

Audience Choice – $,1000

Executive Summary Contest Grand Prize – $3,000

How do I write a good executive summary?

Check back in the ESC -> Resources section soon.  In the mean time, think about what questions an investor would have about your business before they would invest.  You should answer these – at least the most important ones – in your executive summary.  You can also check the EPC -> Resources section as a lot of the general advice is the same.

How do I form a team?

Come to the mixers!  Check the “Upcoming Events” tab for mixer dates, times and locations.  We will also have an idea board up and running by Nov 20th, check back soon.

Am I eligible to enter?

Check the ESC -> Rules page.  Full rules will be up by Nov 23rd

When can I enter?

Registration will open Nov 23rd

How do I enter?

1. Participants can enter the Contest from the web page http://www.mit100k.org/esc/register/. Paper entries will not be permitted for the MIT $100K Executive Summary Competition.

2. Contestants need to include the following information in the registration form:

a. Name and contact information of the principal contestant

b. Name and contact information of the other team members (up to 4)

c. School affiliation

d. Name of the idea

e. Public summary of the idea (350 characters or less). This summary will not be shown to the judges prior to the Contest and will not influence the results of the Contest.

f. Industry Track (see “What are the differences between the Tracks?” below)

3. Entries consist of a 2-page pdf file. Entries consisting of more than 2 pages or submitted in the wrong format will be disqualified. Free pdf converters are available online if necessary (example: www.dopdf.com or www.cutepdf.com)

4. Each entry will be printed in black and white, with default printer settings and margins (approximately one inch margin), for evaluation by the Judging Panels. The Judging Panels will not review any illegible or hardly legible entry.

How does the Finale Show work?

1. Track judges will select a winner for each track prior to the finale show.  The summaries of the track winners will be distributed to a panel of judges who will be present at the show.

2. The track winners for each track are announced and come on stage to receive their prize (Note: If at least one member from a winning team is not present at the finale show that team will be disqualified).  A representative for each team will then pitch a 60 second idea summary to the audience.

3. At the end of the show prizes will be announced for the following categories:

-Executive Summary Contest Grand Prize winner

-Audience Choice winner

What are the Competition Categories?

Prizes will be awarded for each of the six following industry tracks:

-Development

-Energy

-Life Sciences

-Mobile

-Products and Services

-Web/IT

A check payable to either the principal contestant or to a tax ID will be issued. The principal contestant must have a valid social security number or valid tax ID number for tax reporting purposes.

Prize money is awarded to the principal contestant as entered in the registration form, and regardless from any different agreement team members might have reached. The MIT $100K Organizing Committee urges teams to agree on the distribution of awards before the winners are announced.

What are the differences between the Tracks?

Life Sciences

Entries in the Life Sciences track may include, but are not limited to:

-Pharmaceutical technology

-Medical Devices

-Health care industry tools and services

Energy

Entries in the Energy track may include, but are not limited to:

-Efficiency

-Clean Tech

-New Materials

-Alternative power

-Energy storage

Development

Entries in the Development track may include, but are not limited to:

-Social entrepreneurship

-Non-profit

-Private growth strategy

-Nutrition

-Education

-Emerging markets opportunities

Mobile

Entries in the Mobile track may include, but are not limited to:

-Mobile devices

-Mobile applications/software

Products & Services

Entries in the Products and Services track may include, but are not limited to:

-B2C/B2B Products (hardware, software, consumer products, etc.)

-B2C/B2B Services

-Retail solutions

Web/IT

Entries in the Web/IT track may include, but are not limited to:

-Internet services, applications/software, and related technologies

-Telecom, networks, and infrastructure