MIT 100K Competition

I had the chance to attend the Semi-Final ceremony for the MIT 100K Business Plan Contest, which has outgrown its name and actually has prizes in the 100's of thousands across the various tracks.

This huge event in on of the large halls on the MIT campus featured a keynote speach from Johnathan Seelig the co-founder of Akamai and now managing director of Globespan. Interestingly he's also on the board of Zipcar, the founder Robin we met earlier in the week.

It was a great event from a number of perspectives. Firstly it was huge, with a good few hundred in attendance, showing the calibre of the competition and how popular the hard working volanteer students who run the event have made it.

Also Johnathan was a great speaker, and interestingly he re-presented his original pitch for Akamai from 10 years previous when he had entered the then 10K competition. Although a finalist, he didn't win the competition, and was the first to admit the flaws in his presenation. It was interesting to see how the business model has evolved, and how their original plans changed over time.

Unfortunately it will be a while until competitions such as Blueprint reach this size and stature, but at least they are heading in the right direction.