Climate & Energy Prize @ MIT DEADLINE January 30, 2022

January 27, 2022

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(Massachusetts Institute of Technology) Previously known as the Clean Energy Prize @ MIT competition, CEP is now the Climate & Energy Prize @ MIT competition to be inclusive of all climate related problems and to move the world closer to net zero carbon emissions.

We are the largest and longest-running competition for student-led climate startups in the world with over 550 applicants, over 200 mentored teams, and over $2.8M in awarded cash prizes. Teams compete for more than $100,000 in prize money and have access to mentoring and other resources. Over 220 Climate & Energy Prize @ MIT companies have successfully launched and raised $1.1+ billion in follow-on funding. Our 2020 finals featured the next generation of entrepreneurs who are commercializing breakthrough technologies to combat climate change.

The Climate and Energy Prize (https://cep.mit.edu/) is a startup competition organized by MIT students. Each year, teams of students from around the world compete for more than $100,000 in prize money.

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Please make sure your email address is correct, as it will be the primary means for the CEP administrators to communicate with your team.

You can find more information on the website about the application process (https://cep.mit.edu/apply) and eligibility (https://cep.mit.edu/eligibility). If you have questions, please first refer to the FAQs page (https://cep.mit.edu/faq). You can reach out to us at ceprize@mit.edu if you still have any further questions. READ MORE

TEAMS

1. A team must be comprised of at least two individuals.

2. At least 50% of formal team members identified in the competition submission documentation must be enrolled as half-time or full-time college or university students (Student Member).

3. Only student members can present the business plan, but all team members (student and non-student) are allowed to answer questions from the judging panels.

4. The Managing Directors, Judging Director, and Mentorship Director from the ClimateTech and Energy Prize at MIT (CEP@MIT) may not enter the competition. There are no restrictions for any other members of the CEP@MIT Leadership Team, as they will not have access to confidential information regarding the competition or be in a position to influence the judges or judging process.

COMPANY

1. Only new ventures are eligible to compete in the CEP@MIT. Projects within existing businesses are not eligible for entry.

2. Teams must be incorporated or otherwise organized as a legal business entity, either in the U.S. or abroad, to be eligible to receive awards from the CEP@MIT. All prize money (including travel reimbursement) can only be given to incorporated teams. Teams do not need to be incorporated to submit an application. Teams are advised that, in general, the earlier they incorporate or otherwise form their legal entities (e.g., LLCs, partnerships, 501(c)3), the greater the tax benefits. Winning teams may experience delays in receiving award payments if they are not incorporated at the time of award. Prize-winning teams organized as legal business entities outside of the US may be subject to fees when they receive their prizes.

3. In the case of a for-profit business, (a) for a corporation, Student Members must collectively control at least 50% of the team’s company equity and voting interests upon incorporation; and (b) for other forms of for-profit business entities (e.g., LLCs, partnerships), Student Members must collectively control at least 50% of the voting rights (e.g., to elect the board of directors or other governing body) of the team’s company upon formation of the business entity.

4. In the case of not-for-profit business entities (e.g., 501(c)3), Student Members must collectively control at least 50% of the voting rights to elect the board of directors or other governing body of the team’s business entity upon formation of that business entity.

5. All formal team members must demonstrate ownership by way of right to participate in the election of management in the legal business entity and an equity interest in the case of a for-profit business.

CATEGORY SELECTION

1. It is recognized that eligible entries may fall under more than one category. Teams may consult with the Director of Applicant Experience about their category choice before the entry deadline. A team may also mark multiple categories in their application, in which case the CEP@MIT Director of Applicant Experience will assign them to the single category they believe is most appropriate.

2. Teams may not submit the same entry to more than one category. However, teams may submit more than one unique entry in the same or different categories.

3. Identical entries may not compete in the CEP@MIT more than once. Previous entrants are eligible to re-enter the competition if the business plan has noticeably improved or changed. The CEP@MIT Leadership Team has sole discretion to determine whether a business plan is sufficiently improved or changed from a prior entry to be eligible for submission to the competition.

4. The CEP@MIT Leadership Team reserves the right to re-assign an entry to a different category.

FUNDING

1. Teams that have secured capital in excess of $100,000 prior to the entry deadline are not eligible to enter.

2. Teams that have secured capital less than or equal to $100,000 prior to the entry deadline must disclose the amounts and sources of capital on the application.

3. Teams that have generated revenue from sales or contracts prior to the entry deadline must disclose the amounts and sources of revenue on the application.

4. Teams that have received research or grant funding are eligible to compete, provided that the funding was explicitly awarded for research, technology, or product development activities.

JUDGING

1. Click here for the judging criteria against which the Judging Panel will assess all business plan submissions to the competition.

2. All prizes are awarded at the discretion of the Judging Panel and all judging decisions are final and not subject to appeal.

3. The CEP@MIT Managing Directors, after consultation with the Judging Panel, reserve the right not to award a prize should no worthy entries be available.

4. Should the Judging Panel identify a concern that, in its opinion, causes the entry to violate the CEP@MIT Rules and Conditions of Eligibility then it will advise the Managing Directors as such. The Managing Directors will make the final decision whether to disqualify the entry.

What does this include? anything and everything related to climatetech and energy!

Buildings & energy efficiency: Building materials, HVAC, building automation systems, demand response, smart meters, lighting, software, etc.
Carbon removal: Land use, reducing ocean acidity, afforestation, carbon capture with sequestration utilization & storage, regenerative agriculture, etc.
Circular economy: Waste reduction, waste-to-energy, bioplastics, recycling, etc.
Electric power: Long-duration energy storage, demand response, renewable generation, next-generation nuclear, DER integration, transmission & distribution infrastructure, etc.
Environmental stewardship: Ensuring that the transition to net-zero is equitable (climate justice, community resilience, adaptation & remediation, land protection, public policy, sustainability education, etc.)
Food & agricultural tech: Sustainable farming, reducing water use, biofuels, urban farming, land restoration, nutrient and pesticide management, etc.
Industrial decarbonization: Decarbonizing heavy industries like cement, iron, steel, ammonia, petrochemical refining, etc. through various solutions such as energy efficiency gains, switching to different fuels and feedstocks, CCS, electrification of heat, etc.
Mobility & transportation: Technologies that (i) promote electrification (EV charging, new EV models, battery improvements, Hydrogen fuel cells, etc.) and/or (ii) improve efficiency (ridesharing, autonomous vehicles, fleet management, enhancing public transit, high-speed rail, etc.) of passenger or freight transport.
Other: Any climatetech and/or energy verticals that are not covered in the above categories.