Business Plan Competition
A Business Plan competition for early stage startup companies from all over the world. Eight semi-finalists have been chosen from a pool of over 120 applications to be considered for this competition. The final round will take place on Day 3 (March 26th) of the MIT GSW, where an invited panel of judges will decide on the final winners.
Prizes
Global prize: The winner of the 2014 MIT GSW Business Plan Competition Global prize will receive a $10,000 cash prize as seed money and would be guaranteed a slot in the second round of MassChallenge, a prestigious Boston based high impact startup accelerator.
Africa Prize: The winner of the 2014 MIT GSW Business Plan Competition Africa prize will receive a spot in the MIT Global Founders’ Skills Accelerator program, an international entrepreneurship program that provides student entrepreneurs with the skills and resources needed to launch successful startups.
Note that the same team cannot win both prizes.
Competition Rules
- Each team will have a total of 8 minutes which includes a 5 minute pitch + 3 minutes of Q&A from judges on the day of the competition.
- Decisions of the judges and the MIT GSW team are final and may not be appealed.
- Contestants are expected to behave respectfully to all other contestants, sponsors, judges, volunteers, and audience members. Any behavior that is found to violate MIT GSW’s ethical and behavioral standards will result in automatic disqualification.
- The teams will be judged according to the criteria below, which will be weighted equally:
1. Market
- Is there a large, attractive market opportunity?
- What are the pain points and are they clearly identified?
- Who is your target market?
2. Product/Technology
- Is there a clear overview of product/service being offered?
- Is the solution offered compelling?
- Is there a strong value proposition for the end-user/consumer?
3. Business Strategy
- What is the quality of the business plan and strategy?
- Does the company have a defensible strategy against potential competitors?
- Have the key risks/mitigations been well-identified?
4. Competition
- Is there a solid competitive analysis?
- Does the company have a strong advantage over its competition?
5. Team
- Is there a well-rounded team that has the right skillset to be successful in this business?
- What are the qualifications and strengths of the team?
Contact
Feel free to email gswbpc@mit.edu if you have any questions
Applications Now Closed
The deadline for submission has passed. Thank you all for your applications. We will get in touch with you if you made it to the next round.
