Climate & Energy Prize @ MIT
Objective
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. We are the largest and longest-running competition for student-led climate startups in the world. Since its founding in 2007, the MIT Climate & Energy Prize has received more than 750 applications, offered world-class mentoring to over 260 teams, and granted more than $3.3M in non-dilutive cash prizes. Teams compete for $100,000+ in prize money and have access to mentoring and other resources. Over 220 MIT Climate & Energy Prize companies have successfully launched and raised $1.7+ billion in follow-on funding.
Description
This year’s MIT Climate and Energy Prize (MIT CEP) features eight 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. Some of the tracks qualify for additional prize money, courtesy of our sponsors.
BUILT ENVIRONMENT: Sustainable building materials, low-carbon heating and cooling, prefab construction, energy efficiency, building electrification and energy optimization.
CARBON REMOVAL: Carbon offset marketplace and procurement platforms, carbon utilization, carbon removal and storage technologies, point-source CCS, verifiers and ratings enablers.
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, nature restoration and ecosystem services, remote sensing for crop yield optimization, autonomous farming equipment, water tech, and food waste reduction.
TRANSPORTATION: Battery technologies, EV autos, EV charging and fleet management, electric micromobility and ridesharing, zero-emission planes, boats, and trains, urban public transport.
OCEAN CONSERVATION: Ocean conservation, ocean pollution removal, biomass sinking, ocean alkalinity enhancement, direct ocean capture, ocean upwelling/fertilization, coral reef reparation.
INDUSTRIAL DECARBONIZATION: Low-carbon cement, chemical and plastics, steel, manufacturing, metals and mining, circular economy commerce, sustainable textiles and packaging, waste and recycling.
CLIMATE MANAGEMENT: Emissions and sustainability reporting, ESG investing and fintech, earth observation through remote sensing, climate risk and intelligence platforms.
The Structure of the Prize
The ClimateTech & Energy Prize at MIT (CEP@MIT) is the longest running and largest climatetech startup competition for university students. Over the past 12 years, 100+ CEP alumni have successfully launched companies and collectively raised over $1.1 billion in follow-on funding. CEP@MIT teams compete for a $100,000 Grand Prize* and other monetary prizes.
The CEP@MIT is structured to identify promising companies and mentor student entrepreneurs. University teams from across the world enter their business ideas and compete in 3 rounds. After initial applications, CEP@MIT judges select the most promising business plans to advance as Semi-Finalists. They then receive mentoring and access to other resources through CEP@MIT sponsors and partners. During this time, the selected teams develop and refine their business plans before presenting them to a panel of expert judges at the CEP@MIT Semi-Finals and Finals.
2024 COMPETITION TIMELINE
Nov 4th, 2024 – Applications open
Dec 2nd, 2024 – Applications early bird deadline
Jan 10th, 2025 – Applications final deadline
Feb 10th-14th, 2025 – First round (virtual)
Mid-February – Mentorship matching
Mar 7th, 2025 Semi-final #1 (TBA)
Mar 14th, 2025 Semi-final #2 (TBA)
Apr 18th, 2025 Grand Final in Cambridge, MA
April 18, 2025
January 10, 2025
Public
Consulting
Entrepreneurship
Finance
innovation
MIT Sloan School Of Management
Teams compete for more than $100,000* in prize money and access to mentoring and other resources