Do you have to be an MIT student to compete? What is the profile of the team to qualify?

No. At application / pre-application stage, if your team is incorporated as a legal entity, at least 50% of the equity has to be owned by students. If your team is not incorporated, at least 50% of the team members have to be students at ANY university or college all over the world. We reserve the right to clarify if we have a doubt about the involvement of students in the applicant team or company.

Who are considered students?

As of Dec 31, 2023, if you are enrolled as a part-time or full-time student (e.g, Master’s, Bachelor’s, PhD) in an educational institution, you will be considered a student. Students include post-docs.

Is the percentage of students represented in the team flexible? Can I have less than 50% of the team made up of non-students?

No, the percent should be at least 50%.

How many team members should I have?

There is no limit but you need to have at least 2 people. We recommend a size of 4-5, but it is up to your discretion.

Is it required for students to be part of the pitch?

Yes, since MIT CEP is a student startup pitch competition, only student members can present the business plan. But, all team members (student and non-student) are allowed to answer questions from the judging panels.

What if I only have an idea but nothing more? Can I still participate?

Yes you can! You will just have to ensure that you find at least 1 more person to be part of your team and fill up all components of the application, including the Executive Summary linked in the Google Form.

I don’t have a team but I am open to grouping with others. Can you find me a match?

Yes, we will set up a spreadsheet for you to find others who need a team during the application period. Please apply as a team after you have matched with another person.

The majority of my startup company’s shares are owned by a student founder, but more than 50% of our formal team members are non-students. Does my startup qualify for applying to MIT CEP?

Unfortunately, not. Your startup company has to meet BOTH criteria in terms of student involvement:

a) at least 50% of formal team members must be students

AND

b) the students must collectively control at least 50% of the team’s company equity and voting interests.

What financial instruments are considered “capital”?

Dilutive or debt funding is counted as “capital”. Funding from your college or university e.g., grants / government grants are NOT considered "capital". All other private capital e.g., bank loans, angel money, SAFE(Simple Agreement for Future Equity) are counted as “capital”. If you are unsure whether the financial instruments you have is considered "capital", please reach out to cepapp@mit.edu

Does the team have to incorporate a company?

The team does not have to be incorporated to participate, but if awarded a cash prize the team must be incorporated prior to receiving that prize.

How will non-US teams receive the cash prize?

The cash prize will be issued in USD. However, teams that choose to legally incorporate outside of the US may have their cash prize subjected to tax withholding.

Can any teams based outside the US, Europe, and Asia apply?

Yes, 2024 MIT CEP is a global prize. While our semi-finals will be held in London and Boston, we welcome individuals from any part of the world. Your team can have team members located in different countries.

Which location will my team be assigned if selected for the semi-finals?

If > 50% of your team is physically located in North America, Canada, Central / Latin America, you will compete in the US round in Boston. All other teams will compete in the Europe round in London.

How much travel and lodging cost can I claim for the semi-finals and finals?

CEP will consider helping to defray travel and lodging costs for semi- and finalists up to a nominal amount. This amount is to be disclosed closer to semi-finals and finals respectively.

Can teams who applied to previous MIT CEP reapply?

Yes, teams that did not make it to the final in the previous MIT CEP can reapply as long as the teams meet the 2024 MIT CEP criteria.

How are mentors assigned?

Mentors are assigned based on their interest in your team, their industry knowledge and availability. You will get a chance to also rank your preferred mentor and we will do our best to match!

What are the resources I am given as an applicant, and as a team?

As an applicant, you will be able to interact with past winners of CEPs in an Ask-me-anything Panel and have access to a crash course bootcamp video on pitching your idea. You will also be invited to our Industry Insights Panel in Feb 2024 where you get to network with our sponsors.

If you successfully proceed to the semi-finals and finals, you will be paired up with a diverse grouping of industry mentors and have access to closed door happy hours and a smaller and more intimate networking session with our sponsors and partners.