2009-2010 mit $100k entrepreneurship competition
DESCRIPTION
Overview of the MIT $100K Entrepreneurship Competition for the academic year 2009-2010TRANSCRIPT
2009-2010
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20 Years of $100K
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20 Years of $100K Impact
• 120+ companies
• $700 Million in VC funding
• $12.5 Billion in market value
• 2,500+ jobsFigures extrapolated from 2006 data in: Entrepreneurial Impact: The Role of MIT by Prof. Edward Roberts, February 2009
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1 Competition – 3 Contests
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1 Competition – 3 Contests
Elevator Pitch Contest (EPC)
•SEPT - OCT•Develop IDEAS
Executive Summary Contest (ESC)
•NOV - DEC•Form TEAMS
Business Plan Contest (BPC)
•DEC – MAY•Build BUSINESSES
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1 Competition – 3 Contests
• Elevator Pitch Contest (Fall)– 352 entrants – Biggest $100K contest ever!– 500+ attendees at Finale in Stata Center– 12 Schools: MIT, Yale, Harvard, Boston
University, Stanford, Colgate…
• Executive Summary Contest (Winter)– Last year: 120 entries among six tracks– $15K in prizes, expert feedback provided
• Business Plan Contest (Spring)– Last year: 260 teams, 1000+ participants– Each team: 1 VC Mentor, 1 Legal Mentor, $1K expense account
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How the $100K works
• 100% student-run– Team of 50+ organizers from MIT and other
Boston-area schools– Leadership cycle runs during calendar year
to ensure knowledge transfer during Spring• 100% sponsor-funded
– Single and multi-contest packages– General and Track sponsorship
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How the $100K works – Sponsors
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“Recession Proof” in 2009
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A Record Year for the MIT $100K
260 submissions!• Development• Life Sciences• Mobile• Products & Services• Web/IT• Clean Energy Prize
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Winners in the News - Ksplice
Ksplice
• 2008 Executive Summary Contest Web/IT Track Winner & Audience Choice Winner
• 2009 Business Plan Contest $100K Grand Prize Winner
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Winners in the News - FastCAP
FastCAP Systems
• 2008 Elevator Pitch Contest Grand Prize & Audience Choice Winner
• 2008 Executive Summary Contest Energy Track Winner
• 2009 Clean Energy Prize Semifinalist
FastCAP Systems wins ARPA-E Grant Award for Transformational Energy Storage Technology Research
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Remarkable track record of success
Series1
$40 $64$95
$175
$234
$325
$517
$1,200• $10B in aggregate market cap created• $2.5B of exit value captured• 3 public offerings• $700M of venture capital raised • 125 venture equity placements• 2,500 new jobs created
Source: MIT $100K Historical Analysis
Exit value of select MIT $100K competitors ($ Millions)
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Connect with us
www.mit100k.org
Twitter: @mit100k
facebook.com/mit100k