What is 15K?
Entrepreneurship competition modeled on MIT’s 100K competition. MIT’s 100K competition started 25 years ago as the 10K. Then became 50K in 1996. And now, 100K. Today, the 100K is a huge annual event at MIT, with the Launch finals watched by thousands, and sponsored by a host of top class companies and foundations
More than 60 companies worth more than $10 billion have been launched, including Akamai, net.genesis and C-bridge.
The MIT $100KOne competition – three independent contests – from September through May. For 25 years, the MIT
$100K Entrepreneurship Competition has been bringing together students and researchers from across MIT and Greater Boston to launch their talent, ideas, and technology into leading companies. The competition is run as a series of distinct, increasingly intensive contests: Pitch, Accelerate, and Launch. Each contest focuses on developing specific founding skills, and for each semi-finalist contender the MIT
$100K brings together a network of resources, including mentorship from venture capitalists, serial entrepreneurs, corporate executives, and attorneys; media exposure; prototyping funds; business plan feedback; and discounted services. Additionally, more than $300K in non-dilutive awards help these new ventures accelerate.
15K in SingaporeIn Singapore, the MIT Club of Singapore collaborated with SUTD and started a SUTD 10K in 2016. The MIT Club of Singapore supported and funded the first 4 editions of the competition (2016, 2017, 2018 and 2019). It is a student business innovation competition where student teams, selected by the strength of their ideas, are matched with experienced mentors for one month to develop original and compelling business models. The team with the most compelling final pitch is given $10,000 to move their idea forward.
With the success of the 10K competition, MIT Club has decided to expand the event to NTU, NUS and SMU for an inter-school competition - renaming it the 15K Competition. The expansion is made to motivate more students and researchers to not only develop innovative technologies and processes, but to think about how to bring their ideas to market (must consider the business side).