The
MIT $1K Business Idea Competition is a
business plan competition held by the
MIT Entrepreneurship Center at the
MIT Sloan School of Management. It is a "warm-up" competition held prior to submissions for the larger
MIT $100K Entrepreneurship Competition, one of the world's most famous business plan competitions.
The MIT 1K Business Idea Competition focuses on the quality and potential of the submitted business ideas as opposed to judging developed entrepreneurial ventures such as those entered into the $100K.
Winners of the $1K frequently go on to build teams to enter the 50K competition.
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