2008 MIT Entrepreneurship Competition

The World’s Premiere Entrepreneurship Competition

Over $400,000 of cash prizes

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 One Competition – Three Contests

Elevator Pitch Executive Summary Business Plan

Contest (EPC) Contest (ESC) Contest (BPC)

EPC ESC BPC

(Sept 10th ) (Oct 13th) (Dec 13th) (Mar 6th) (May 14th)

8-10 Sponsor panel events (50-100 attendees)

2 Team Building Periods (20-75 attendees per event)

5 Gala Events (300+ attendees)

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#1. Elevator Pitch Contest (EPC)
• 2007 EPC
– Open to all of America
– Inaugural year: 176 Entries
– 12 Schools: MIT, Yale, Harvard, Boston U, Stanford, Colgate…
– 300+ attendees at Saturday Night Finale
• Focused on finding great ideas
• Goal: “To be the world’s largest Elevator Pitch Contest”
• 2008 EPC: Saturday, October 18th

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#2. Executive Summary Contest (ESC)

• Fall Warmup
• Over 100 entries
• October – December
• Focused on building Teams
• 8 Tracks
¾ Development, Mobile, Web2.0, Energy, Biotech, Aerospace,
Consumer Products, Other
• Eight $1,000 prizes

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 #3. Business Plan Contest (BPC)
Grand Prize Grand Prize Judging (3:00-6:00)
May 14th
Judging BPC Ceremony (7:00)
15 judges
Afternoon
Judging Panel Panel Panel Panel Panel Panel Panel May 8th
full b-plan
2 months
5 judges
per panel Each team:

7 1 VC mentor,
Aero Bio Consumer Mobile Web Develop Energy
categories 1 legal mentor,
5 teams 5 teams 5 teams 5 teams 5 teams 5 teams 5 teams
$1k expense
account

Evening
Ceremony Semi-finalist Announcement Ceremony (5 teams per track) March 6th
5 judges
per panel

Judging Afternoon
Panel Panel Panel Panel Panel Panel Panel
March 6th

Submit Aero Bio Product Mobile Web Develop Energy

Feb 28th
pitch deck entries entries entries entries entries entries entries

150-200 teams
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New Programs

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Tracks aligned with MIT Organizations

7 Tracks aligned with MIT Student Organizations

¾ Development – Legatum Center & Net Impact
¾ Mobile – M Forum
¾ Web 2.0 / IT – MediaTech & MIT Venture Club
¾ Energy – Energy Club & MITEF ICE
¾ Biotech – BioTech Club & Mass Space Grant Consortium
¾ Aerospace – Aerospace Club
¾ Products – Innovation Club
7 Category Prizes (Total Prizes $400k+)

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Year-Long Competition: Idea to Company

150+ 100+ 35 7 1
ideas executive BPC finalists Grand
summaries teams teams Prize

$100K $100K $100K

EPC ESC
Semi-finals Finals Winners
Oct 13th Dec 13th
March 6th May 8th May 14th

Idea Generation Team Forming Build Company

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 Sponsor-Mentor Program

Judging
teams Semi-Finalist
Finals
(150+) Team (35) 2 months (May 13th)

$1,000 Expense
Account
$2,500 in Legal
fees (5-8hours)
Marketing
1 sponsor legal 1 sponsor venture consulting
mentor mentor
e.g. Harry Hanson, e.g. Amir Nashat,
Partner Choate Polaris Ventures

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3 new websites

• www.mit100k.org (Main webpage)

• www.mit100k.org/epc (Elevator Pitch Contest)
• www.mit100k.org/esc (Executive Summary Contest)
• More effective leadership: 3 Lead Organizers

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 Remarkable track record of success

• $10B in aggregate market cap created $1,200

• $2.5B of exit value captured

– $147M per year average
– 550x ROI on historical MIT $100K budget
• 3 public offerings
• $600M of venture capital raised
• 125 venture equity placements
$517
• 2,500 new jobs created
$325

$234
$175

$95
$64
$40
Exit value of select MIT $100K competitors ($ Millions)
Source: MIT $100K Historical Analysis 11
Recent New Companies
• Stericoat – 2006 Winner
– Seed Round
– www.scoat.com
• Liquid Piston – 2004 Runner-up
– Seed Round
– www.liquidpiston.com
• Myomo – 2003 Runner-up
– Series A
– www.myomo.com
• Brontes – 2003 Runner-up
– Series A
– Sold for $95 million
– www.brontes3d.com

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Worldwide visibility
Press and media attention
• Frequent national and regional
media coverage
• Timed MIT-sponsored press
releases
• Periodic trade publication features
• Coverage in press announcements
by alumni companies

High webpage Google ranking

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Competition Alumni Companies

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Competition Support Organizations

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2008 Competition Sponsors

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