William Maisel

What is the MIT $100K?

A entrepreneurial competition held in Cambridge, Massachusetts

Prospective contestants will go through a series of phases with an opportunity to impress investors, beginning with just a 60 second pitch

There are 3 distinct contests, Pitch, Accelerate, and Launch

Pitch

Pitch is about developing and delivering your business idea to impress investors?

Think you can deliver it in 60 seconds?

Practice your 60-second pitch in front of a qualified panel of judges and get immediate feedback on your idea and presentation.

Accelerate

Turn your idea into reality

Teams will work on creating a demo of their idea over December and January, and the best demos will present at the ACCELERATE Finale Show to a crowd of hundreds

The MIT $100K provides various resources and mentoring to help teams build their demos.

LaunchLaunch is where it all comes together in preparation for funding and business creation

All entries into the Business Plan Contest will be eligible for more than $350,000 in cash and prizes to put toward their new venture

In addition, semi-finalist teams receive formal mentoring, and an expense account to refine your idea, and prepare to pitch to a group of judges in a simulated funding meeting

Of course, the winner of the competition gets a check for $100,000

Reward Breakdown

Pitch: $5,000 to the top pitch, $2,000 for 2nd and 3rd, and $1,000 for the Audience Choice Award

Accelerate: $10,000 for the Daniel M. Lewin Accelerate prize winner and $2,000 for the Audience Choice Award

Launch: $100,000 for the contest winner, $15,000 for the runners-up

For more information, check them out on the web and Twitter at: www.mit100k.org and @mit100k