Applications open for MIT Climate & Energy Prize

Deadline: 7 December 2023

The MIT Climate & Energy Prize competition seeks to move the world closer to net zero carbon emissions by empowering ambitious entrepreneurs to solve the world’s most difficult climate-related challenges.

The MIT Climate & Energy Prize (MIT CEP) is the longest running and largest climatetech & energy startup competition for university students all over the world.

The Climate and Energy Prize is a startup competition organized by MIT students.

Tracks

This year’s MIT Climate and Energy Prize (MIT CEP) features nine tracks for prospective teams. The purpose of these tracks is to encourage a diversity of clean energy technologies and solutions, as well as to pair teams with appropriate industry mentors to maximize their chances of success.

Energy
- New generation technologies (e.g., nuclear, solar, geothermal), energy storage, hydrogen and other low-carbon fuels, enabling renewables software, marketplace, and grid management platforms, DER and demand response tools, utility transmission and distribution services.
Food and Land Use
- Alternative proteins, regenerative farming, vertical farming, sustainable fertilizer and animal feed, biodiversity conservation, nature preservation/restoration and ecosystem services, remote sensing for crop yield optimization, autonomous farming equipment, and food waste reduction.
Built Environment
- Sustainable building materials, low-carbon heating and cooling, prefab construction, energy efficiency, building electrification and energy optimization.
Transportation
- Battery technologies, EV autos, EV charging and fleet management, electric micromobility and ridesharing, zero-emission planes, boats, and trains, urban public transport.
GHG Capture & Removal
- Carbon offset marketplace and procurement platforms, carbon utilization, carbon removal and storage technologies, methane mitigation, point-source CCS, verifiers and ratings enablers.
Water Resources
- Access to clean drinking water, water tech, ocean conservation, ocean pollution removal, ocean upwelling/fertilization, wastewater reuse and treatment, harvesting rainwater/groundwater, aquaculture sustainability.
Industrial Decarbonization
- Low-carbon cement, chemical and plastics, steel, manufacturing, metals and mining, circular economy commerce, sustainable textiles and packaging, waste and recycling.
Climate Services & Software
- Emissions and sustainability reporting including Measurement, Reporting and Verification (MRV), ESG investing and fintech, earth observation through remote sensing, climate risk and intelligence platforms.
Climate Adaptation
- Solutions that protect communities and businesses against the consequences of climate change. Resilient infrastructure, wildfire management, climate refugees, resilient crops, insurance solutions, water purification and recycling, heat adaptation, solar radiation modification.

Funding Information

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

Rules & Eligibility

Teams
- A team must be comprised of at least two individuals.
- 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) from all over the world.
- 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.
- The Managing Directors, Judging Director, and Mentorship Director from the MIT Climate and Energy Prize (MIT CEP) may not enter the competition. There are no restrictions for any other members of the MIT CEP 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
- Only new ventures are eligible to compete in the MIT CEP. Projects within existing businesses are not eligible for entry.
- 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 MIT CEP. 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.
- 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.
- 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.
- 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.