2019 Business Plan Contest
The MIT-CHIEF Business Plan Contest, held annually since 2011, is dedicated to contributing to a global entrepreneurial ecosystem based in the Greater Boston area. MIT-CHIEF Business Plan Contest(BPC) 2019 is open to all entrepreneurs and startups whose business models and technologies are potentially applicable to the U.S. or China.
Nurture and activate entrepreneurs, through inspiring their spirit of innovation, training their comprehensive skills and expanding their social network.
Equip entrepreneurs with resources, including mentors, funding, industry expertise, legal service and and know-how of marketing and business models, from both the U.S. and China.
Provide entrepreneurs in the U.S. with valuable connections in China and help on immersing their startups into the Chinese market.
Offer direct cash awards that help startups accelerate on their way to success. Plus chances to get term sheets.
2019 BPC Features
$20K+ Cash Award.
Direct Interaction with investors and entrepreneurs.
Learn more about how to transform an idea into a concrete business.
Join entrepreneurship panels and seminars.
MIT-CHIEF alumni network and co-founder meetups.
Timeline & Location
Elevator Pitch Deadline
2019 October 11th 11:59 PM EST
Application Deadline
2019 October 19th 11:59 PM EST
Business Plan Contest
2019 November 16th 4 PM - 6 PM EST
Location
Ray and Maria Stata Center, 32 Vassar St, Cambridge, MA 02139
How to Apply
The application is online based. It requires every application to answer a questionnaire and submit an initial business plan. The mass-election of elevator pitch closes at 11:59 PM EST on October 11th, 2019. The mass-election of the Business Plan Contest 2019 closes at 11:59 PM EST on October 19th, 2019.
Tracks
Bio medical and Healthcare
Startups established on technologies and services for diagnosis, treatment, and prevention of diseases; unique services for healthcare delivery and new technologies for data analytics in the healthcare mark
AI and Big Data
Startups basing their products or services mainly on AI technologies like machine learning and deep learning.
Advanced Manufacturing, Advanced Material and Energy
Chemical, mechanical, optical, acoustical or any type of advanced material solution providing startups; any business focused on renewable energy, energy efficiency or development of products/services that reduce the carbon footprint.
Smart Hardware/Robotics/IoT
Startups focused on Internet of Things, wearable devices, smart home appliances, or any kinds of smart hardware; unmanned vehicles and robotics.
Social Impact
Startups creating sustainable social values, solving social issues such as education, traffic, and social networks, by providing innovative, highly effective and scalable business models and solutions.
FinTech
Startups that using disruptive technologies or business models that improve asset management, lending, payments, and other core areas of the financial services.
Judging Criteria
Each round of judging is based on materials submitted in that round. These materials will be reviewed by a panel of judges who mainly cover the track of your startup. Each round may have a different set of judges but the same judging criteria will be applied for both rounds.
Judges will evaluate materials upon following criteria:
Innovative nature and the feasibility of the idea.
Potential market opportunity and competitive advantage of the product or service.
Long term profitability of for-profit businesses: we want to see a plan that generates revenues and management plan of financial resources. Startups that demonstrates recurring and increasing revenues will get high scores.
Sustainability of the financial plan for non-profit businesses: we want to see non-profitable businesses that balances their revenues and ambitions. Demonstrating a clear exit strategy for venture capitalists are essential.
Team members have the skills or related experience.
Every team is encouraged to provide a plan as concrete as possible. Information such as proven technology, recruited partners, or attracted “beta” customers will be likely to raise your chances to enter next round.