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 Contest (EPC) Executive Summary Contest (ESC) Business Plan Contest (BPC)

EPC
(Sept 10th ) (Oct 13th)

ESC
(Dec 13th) (Mar 6th)

BPC
(May 14th)

8-10 Sponsor panel events 2 Team Building Periods 5 Gala Events
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(50-100 attendees) (20-75 attendees per event) (300+ attendees)

#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
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 Judging 15 judges Judging full b-plan 5 judges per panel 7 categories Aero 5 teams Bio 5 teams Consumer 5 teams Mobile 5 teams Web 5 teams Develop 5 teams Energy 5 teams Panel Panel Panel Panel Panel Panel Panel Afternoon May 8th 2 months Each team: 1 VC mentor, 1 legal mentor, $1k expense account Evening March 6th Grand Prize Judging (3:00-6:00) BPC Ceremony (7:00) May 14th

Ceremony 5 judges per panel Judging

Semi-finalist Announcement Ceremony (5 teams per track)

Panel

Panel

Panel

Panel

Panel

Panel

Panel

Afternoon March 6th

Submit pitch deck

Aero entries

Bio entries

Product entries

Mobile entries

Web entries

Develop entries

Energy entries

Feb 28th

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
Development – Legatum Center & Net Impact Mobile – M Forum Web 2.0 / IT – MediaTech & MIT Venture Club Energy – Energy Club & MITEF ICE Biotech – BioTech Club & Mass Space Grant Consortium Aerospace – Aerospace Club Products – Innovation Club

7 Category Prizes (Total Prizes $400k+)

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Year-Long Competition: Idea to Company

150+
ideas

100+
executive summaries

35
BPC teams

7
finalists teams

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Grand Prize

EPC Oct 13th

ESC Dec 13th

$100K Semi-finals March 6th

$100K Finals May 8th

$100K Winners May 14th

Idea Generation

Team Forming
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Build Company

Sponsor-Mentor Program
teams (150+) Semi-Finalist Team (35) Judging Finals (May 13th)

2 months

$1,000 Expense Account $2,500 in Legal fees (5-8hours)

1 sponsor legal mentor e.g. Harry Hanson, Partner Choate

1 sponsor venture mentor e.g. Amir Nashat, Polaris Ventures
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Marketing consulting

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 • $2.5B of exit value captured
– $147M per year average – 550x ROI on historical MIT $100K budget
$1,200

• • • •

3 public offerings $600M of venture capital raised 125 venture equity placements 2,500 new jobs created
$325 $234 $175 $64 $95

$517

$40

Exit value of select MIT $100K competitors ($ Millions)
Source: MIT $100K Historical Analysis

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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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