MIT $100K Organizers Announce Mobile Prize
On Monday the organizers of MIT’s famous $100K business plan competition unveiled the M Prize, a new award specifically for teams submitting plans in the area of content or services for mobile devices. The amount of the prize hasn’t been announced, but teams (which must include at least one MIT student) can get a head start in the competition by submitting a summary of their business plans to the Executive Summary Competition by November 29; the best summary for a mobile startup will receive $1,000 at a December awards ceremony, according to Ajay Kulkarni, an MBA student at MIT’s Sloan School of Management and organizer of the M Prize. “The idea of the prize is to make Boston the number-one city in the country for mobile entrepreneurship,” Kulkarni says. “The competition is not just about evaluating ideas, but about giving teams access to the capital and the people and experience they need” to build a successful business.