MIT Climate and Energy Prize
The MIT Climate & Energy Prize (MIT CEP) is the longest running and largest climatetech & energy startup competition for university students all over the world. MIT CEP teams compete for more than $100,000 in Grand Prize* and other monetary prizes.
Over the past 16 years, 100+ CEP alumni have successfully launched companies and collectively raised over $1.7 billion in follow-on funding. Since its founding in 2007, the MIT Climate & Energy Prize has received more than 850 applications, offered world-class mentoring to over 280 teams, and granted more than $3.5M in non-dilutive cash prizes.
*Annual prize amounts will be determined at the discretion of the CEP Managing Directors and will be subject to the year's fundraising efforts.
From Clean Energy Prize to MIT Climate & Energy Prize
In 2020, we rebranded our prize competition from the Clean Energy Prize competition to Climate & Energy Prize competition to be more inclusive to all climatetech related startups tackling the net zero challenge. What does this include? Anything and everything related to climatetech and energy!
The Structure of the Prize
Starting in 2022-2023, we expanded the scope to include European universities and created the first MIT CEP European chapter in Paris. For the 2023-2024 prize, we will further expand our prize to welcome applicant teams from all over the world. Our goal is that in a few years, we increase our presence in APAC, Middle East, Latin America, and Africa.
The MIT CEP is structured to identify promising companies and mentor student entrepreneurs. University teams from across the world enter their business ideas and compete in 3 rounds.
After initial applications, at the Virtual Rounds, MIT CEP judges select the most promising business plans to advance to the regional Semi-Finals in Boston / Europe.
They then receive mentoring and access to other resources through MIT CEP sponsors and partners. During this time, the selected teams develop and refine their business plans before presenting them to a panel of expert judges at the MIT CEP Semi-Finals.
The best teams move on to the Grand Finals and receive additional mentoring to advance their ideas. Finalists travel to Boston in Mid April to compete in person for the Grand Prize.
The 2024 timeline
Nov 6th, 2023 – Applications open
Dec 7th, 2023 – Applications early bird deadline
Jan 14th, 2024 – Applications final extended deadline
Feb 5th - 6th, 2024 – First round (virtual)
Early Feb 2024 – Mentorship matching
Mar 8th, 2024 – US Semi-finals in Cambridge, MA
Mar 15th, 2024 – London Semi-finals
Apr 19th, 2024 – Finals held in Cambridge, MA