The MIT $100K Entrepreneurship Competition
The MIT $100K Entrepreneurship Competition is a yearlong educational experience that encourages MIT students to act on their talent, ideas, and energy to produce tomorrow’s leading firms. Beyond the $100K, the Elevator Pitch and Executive Summary contests each award prizes near $20,000 — the Business Plan contest awards prizes of more than $300,000.
As the world leader among student-run university entrepreneurship competitions, the MIT $100K Entrepreneurship Competition has facilitated the birth of more than 130 companies with aggregate exit values of $2.5 billion captured and a market cap of over $15 billion. These companies have generated more than 2,500 jobs and have received $770 million in venture capital funding.
Success stories from the $100K contest include:
C-Bridge Internet Solutions
“At MIT Sloan you have a lot of opportunities to explore entrepreneurship. Especially in a place like Kampala where you have a lot of development, entrepreneurship can be very exciting.”
“We’re very interdisciplinary. Among the faculty in the group are an economist, a political scientist, a sociologist, and an industrial relations specialist. We’ve always made a big effort to be open to a variety of perspectives, but also to go beyond being open to them, to want to bring them in, because it makes for a richer environment.”
“One of the reasons I came to Sloan was because I wanted to be at a top MBA institution worldwide. But I also wanted access to working with the latest innovations and the highest technology that was coming out of the MIT labs.”
“I can honestly say that when I was planning on coming to business school I never thought that witnessing the birth of a child would be included in the education. It was definitely an experience.”
“I love being in a place that is such a nexus of people and ideas — people coming to learn something new and to define themselves. Being a part of that process is a real honor and a real gift.”
“Because of the diversity of our backgrounds, when we hit the ground in Tanzania it almost was a natural play where different people assume different roles.”
"After we gave our recommendations, the great part was that the very next day the CEO was in the boardroom implementing them with his top vice presidents."
“These companies are really excited to work with MIT students.They reach out to the community to set up these projects and are great to work with. They give us access to all their resources and are very open to us.”
“We are very much an action-learning environment. The way to learn leadership is not only through reading cases, not only through learning theory — in fact we don’t want people to regurgitate the theory. We want people to take theory and to live it, use it.”
“It was really rewarding that they wanted to know what we thought. We left there being fairly certain that they will do some of the things that we suggested.”
“The conditions in the neighborhoods we were visiting were different than what we realized before getting there. Beyond that, what was surprising was that there weren’t surprises!”
“For 35 years, we’ve been studying how companies get value from information. … We try to help organizations take a more holistic view of what they are trying to do.”
“I knew about American business, but not enough about what’s really become a global economy. … You can read about it all you want, but there’s no substitute for being there and seeing the context and seeing how completely different these [other countries] are.”
“I came to Sloan because of its high rankings within the sustainability community, specifically the professors. The S-Lab class itself is part of what drew me to Sloan. And the reason I came to business school was to learn the business speak that really is what connects with people."
“One of my favorite things about teaching at MIT Sloan is the diversity and high quality of students. They are eager to learn new things, they think independently and they're willing to tackle difficult issues.”