The 2021 MIT Water Innovation Prize is now open to nominations from student-led entrepreneurial teams to apply for the prize. This is a multi-stage business plan competition where student-led teams compete for $35,000 in prize money.
Do you have interest in this program? Apply now.
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About 2021 MIT Water Innovation Prize
The 2021 MIT Water Innovation Prize is a startup competition focused on water innovation that awards innovation grants annually to student-led teams from across the country and internationally. The Prize started in 2015 and has since then awarded $100K to 12 winning teams.
As the main innovation-focused event of MIT Water Club, MIT helps emerging entrepreneurs translate research & ideas into businesses, access mentors & resources, and build networks in the water industry. Hence, all approaches to water innovation are welcome, from engineering and product design to policy and data analytics.
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Prize
The winners of the MIT Water Innovation Prize will receive an innovation grants of up to $35,000 in prize money
General Criteria
Please take note of this requirement before applying;
- The entry must involve a technology, product, service, or process aimed at solving a problem related to the world’s water challenges. The water space has numerous opportunities and challenges to solve relating to policy, technology, data sensing, analytics, implementation, financing, end-to-end solutions, etc. MIT encourages diverse and creative submissions.
- Your team must comprise of at least one student who is fully studying in any college or university, and it must be the student who presents the pitch.
- At least one student presenter from the team must be available to attend the final pitch event in April 2021
- As a team, you are not eligible to participate in the Spring 2021 MIT Water Innovation Prize; if you have secured combined funding, grants, prize money, or revenue greater than $100K (exclusive of funding explicitly awarded for research, technology, or product development).
- Your team must be prepared to provide documentation to validate any claims that are made concerning the intellectual property underlying the business plans, including any claims concerning the licensing of Third-Party IP. Your team should enter with a full understanding of MIT’s regulations on Intellectual Property Rights.
- Innovations at all stages are welcome to apply. However, past winners of the prize have been able to demonstrate the potential to take their innovation to market within a reasonable time horizon (for 5yrs).
Please Note; Prize payments are treated as income by MIT and the IRS, regardless of whether the payment is made to an individual or a company. Non-U.S. citizens are taxed on their prize money upfront at a rate of 30%, which is withheld from their prize checks.
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2021 MIT Water Innovation Prize Timeline
- Application Opens – Nov. 2020
- Application Close and participants Selection – January 2021
- Ongoing Mentorship – Feb-Mar 2021
- Final Pitch Event– Business Plan & Pitch for $30K+ – April 2021
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The deadline for the 2021 MIT Water Innovation Prize is January 8, 2021, 11:59 pm ET. Do you have an interest? Follow this link to apply; http://www.mitwaterinnovation.org/apply
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