The MIT $100K Entrepreneurship Competition is a year-long educational experience designed to encourage students and researchers in the MIT community to act on their talent, ideas, and energy to produce tomorrow’s leading firms. Founded in the 1989-1990 academic year, the Competition is entirely student-run and has awarded hundreds of thousands of dollars in cash and business startup services to outstanding teams of student entrepreneurs who submitted business plans for new ventures showing significant business potential. The refinement process of the Competition, its network of mentors, investors and potential partners, and the cash prizes awarded have helped many of these teams to act on their dreams and build their own companies and fortunes.