MIT Executive Summary Competition

Last night, I stopped by MIT to see who was participating in the school's executive summary competition (ESC). The ESC runs in line with the notable 100k business plan competition. The event was a mixer for all those applying for the development track. It involved both people with ideas and people without. I fell into the group without and had a few interesting conversations with some of the individuals with ideas, which included a plan to set up a recycling for construction material in developing countries, a bicycle that doubled as a sheller for corn and a device which converted plant vegetation into charcoal. It was interesting to the see the process. I talked with one of the coordinators of the event who told me that 5 out of 6 winners of the business plan competition, had also participated in the executive summary competition. However, the business plan competition doesn't require you to do the ESC. As I work to develop my own idea, it is helpful to understand the whole process and it is good know that the competition is a possibility for me in the future.