The MIT $100K Entrepreneurship Competition encourages MIT students and researchers to act on their talent, ideas, and energy to produce tomorrow's leading firms. Established in 1990 as the MIT $10K, the competition has facilitated the birth of over 85 companies with aggregate exit values of $2.5 billion captured and a market cap of over $10 billion. These companies have generated over 2,500 jobs and received $600 million dollars in venture capital funding.
The MIT Entrepreneurship Competition provides valuable resources in the following areas:
- Networks of world-class entrepreneurs, investors, and potential partners
- Mentoring by successful and seasoned professionals
- Education in specific business planning skills as well as general entrepreneurial insight
- Feedback on their business model from world-class entrepreneurs, investors, and professional service providers
- Teambuilding opportunities to create a winning team of founders
- Access to members of the private equity community
- Broad media exposure
Students from all five schools at MIT (Sloan, Engineering, Science, Humanities, and Architecture) at the undergraduate and graduate levels have entered and been successful in the competition. Multi-disciplinary teams that combine members from technical disciplines with members from the Sloan School have proven the most successful competitors.
The $100K has its roots in the MIT Entrepreneurs Club and the Sloan New Ventures Association, which teamed up to create a competition that would take advantage of the winning combination of engineers and business students. MIT’s $100K competition is the nation’s premier business-plan competition teaching students how to turn their ideas into companies.