MIT $100K Entrepreneurship Competition: Difference between revisions
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The Business Venture Competition is the traditional business plan competiiton associated with the MIT $100K. In the spring, semi-finalists are selected from all business plan submissions. Semi-finalists submit more detailed business plans and 5-6 finalists are then chosen. At the awards ceremony, the top team within the business venture competition is awarded the Robert P. Goldberg Grand Prize as the winner of the business venture component of the $100K competition. |
The Business Venture Competition is the traditional business plan competiiton associated with the MIT $100K. In the spring, semi-finalists are selected from all business plan submissions. Semi-finalists submit more detailed business plans and 5-6 finalists are then chosen. At the awards ceremony, the top team within the business venture competition is awarded the Robert P. Goldberg Grand Prize as the winner of the business venture component of the $100K competition. |
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==Social Impact |
==Social Impact Competion== |
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The Social Impact Competition is a business plan competition judged on the positive social impact of the submitted plan. The competition was added in 2006 as a complement to the Business Venture Competition due to increasing demand and interest in socially conscious ideas. In the spring, semi-finalists are selected from all business plan submissions. Semi-finalists submit more detailed business plans and 5-6 finalists are then chosen. At the awards ceremony, the top team within the social impact competition is awarded as the winner of the social impact prize within the $100K competition. |
The Social Impact Competition is a business plan competition judged on the positive social impact of the submitted plan. The competition was added in 2006 as a complement to the Business Venture Competition due to increasing demand and interest in socially conscious ideas. In the spring, semi-finalists are selected from all business plan submissions. Semi-finalists submit more detailed business plans and 5-6 finalists are then chosen. At the awards ceremony, the top team within the social impact competition is awarded as the winner of the social impact prize within the $100K competition. |
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Revision as of 08:33, 23 June 2006
The MIT $100K Entrepreneurship Competition is one of the largest and most famous student business plan competitions in the world. It is sponsored by the MIT Entrepreneurship Center at the MIT Sloan School of Management.
It was started in 1990 as the $10K competition, and continued to grow throughout the 1990's. In 1996 the $10K evolved into the $50K with $30K going to the winner and $10K each of two runners up. In 2006, the $50K added an additional competition focused on socially conscious business plans to complement the traditional business venture competiion. Subsequentially, the competiion has rebranded as the MIT $100K.
Since its founding, the $100K Competition has resulted in the creation of over 60 companies with an aggregate value of over $10.5 billion dollars. These companies have generated over 1800 jobs and received $175 million dollars in Venture Capital funding. Prominent $100K alumni companies include Akamai, net.Genesis, and C-Bridge.
MIT $1K Business Idea Competition
The MIT $1K Business Idea Competition is a "warm-up event" held prior to the submission of $100K entries, and focuses on identifying the top business ideas submitted in the fall semester, each of which win $1000. 1K winners usually continue to grow their idea, team and business plan in preparation for the $100K competition in the spring.
Business Venture Competiion
The Business Venture Competition is the traditional business plan competiiton associated with the MIT $100K. In the spring, semi-finalists are selected from all business plan submissions. Semi-finalists submit more detailed business plans and 5-6 finalists are then chosen. At the awards ceremony, the top team within the business venture competition is awarded the Robert P. Goldberg Grand Prize as the winner of the business venture component of the $100K competition.
Social Impact Competion
The Social Impact Competition is a business plan competition judged on the positive social impact of the submitted plan. The competition was added in 2006 as a complement to the Business Venture Competition due to increasing demand and interest in socially conscious ideas. In the spring, semi-finalists are selected from all business plan submissions. Semi-finalists submit more detailed business plans and 5-6 finalists are then chosen. At the awards ceremony, the top team within the social impact competition is awarded as the winner of the social impact prize within the $100K competition.
Previous Winners
| Year | Winner | Description | Team Members |
| 2006 | SteriCoat | Coating on Medical Devices | Chris Loose, David Lucchino, Joel Moxley and Vipin Gupta |
| 2006 | CentroMigrante | Sustainable Housing for Migrant Communities | Illac Diaz, Neil Ruiz, Tina Laforteza, Artessa Salvidar-Sali, Bianca Locsin, Chester Yu |
| 2005 | Balico | Medical Devices | Baruch Schori, Harry Lee, Kathleen Sienko, Jimmy Robertsson |
| 2004 | Active Joint Brace Now:Myomo Inc. |
Medical Devices | Mira Sahney, Kailas Narendran, John McBean, Joe Jackson, Hocking Chen, Raja Surapanani, |
| 2003 | SmartCells | Medical Devices | Todd C. Zion, Robert Bruch, Martin Curiel, John Hebert, Tsafrir Vanounou |