Business Competitions

100K MIT Entrepreneurship Competition

Top Prize: Approx. $200,000 cash for an energy-related start-up
Host: Massachusetts Institute of Technology

This year, MIT's competition went from giving out two $30,000 prizes, to giving out six prizes ranging from $30,000 to more than $200,000. The new MIT Clean Energy Prize will give cash to a startup looking to enter the energy field. There will also be a prize from Legatum, a global investment firm, which in September pledged $50 million to create new start-up opportunities and an entrepreneurship center at the school. According to student organizer Jeff Sabados, the 17-year-old competition has helped 85 companies now worth more than $10.5 billion. The year-long competition includes smaller events such as an elevator-pitch contest and an executive summary competition which helps students further polish their business plans. At right, 2007 winners at the New York Stock Exchange.