ADVISORY/MIT $50K Sees Dot.com Entries Decline -- Other Entry Categories Still Strong; MIT Entrepreneurship Competition to Announce Semi-Finalists.Business/Technology Editors ADVISORY...for Wednesday (March 14) --(BUSINESS WIRE)
What: MIT $50K Entrepreneurship Competition Semi-Finals
When: Wednesday, March 14, 2001, 7:00 pm
Where: MIT Sloan School of Management's Wong Auditorium
70 Memorial Drive, Cambridge
Building E51, enter at corner of Amherst and
Wadsworth
Speakers: Ian Eslick, founder of Silicon Spice, 1995 MIT $50K
alumnus and Alex d'Arbeloff, chairman of MIT
Corporation
As Massachusetts Institute of Technology's student organizers prepare to hold the semifinals for the MIT MIT - Massachusetts Institute of Technology $50K Entrepreneurship Competition's 12th year, they have noted a big shift away from dot.com type entries. "We've seen two major changes," said Elad Gil, MIT '01 and lead organizer of the 2001 competition, "There are fewer business ideas that fit into the dot.com definition and almost no teams are using `.com' in their company name. But looking at the whole picture, the students' submissions look even stronger than the last few years." As each semifinalist sem·i·fi·nal n. 1. A match, competition, or examination that precedes the final one. 2. One of the two competitions of the next to the last round in an elimination tournament. team is announced, they will be given 45 seconds to present to an audience including judges, venture capitalists Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. , and entrepreneurs. After their presentations, the teams will develop and submit detailed business plans for the final round of judging. Winners will be announced at the finals on May 16.. The MIT $50K Entrepreneurship Competition is the world leader among university-based business plan competitions, described by the Inc. Magazine as the business plan competition that is "more equal than all the others." Its mission is to produce tomorrow's leading firms. It its eleven year history, it has facilitated birth of over 75 companies with over $10 billion in aggregate market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. and created over 1000 jobs. Alumni companies include Akamai Technologies Akamai Technologies, Inc. (NASDAQ: AKAM) is a company that provides a distributed computing platform for global Internet content and application delivery, headquartered in Cambridge, Massachusetts. , Direct Hit Technologies (acquired by Ask Jeeves Noun 1. Ask Jeeves - a widely used search engine accepting plain English questions or phrases or terms trademark - a formally registered symbol identifying the manufacturer or distributor of a product ), Lexicus (acquired by Motorola), Sensable Technologies, net.Genesis, and Silicon Spice. The keynote keynote /key·note/ (ke´not) in homeopathy, the characteristic property of a drug that indicates its use in treating a similar symptom of disease. speaker for the event is Ian Eslick, founder of Silicon Spice. Silicon Spice is an MIT $50K alumnus ALUMNUS, civil law. A child which one has nursed; a foster child. Dig. 40, 2, 14. company acquired in October, 2000 by Broadcom, for $1.2 billion. They are a developer of semiconductors that enable the high-speed transmission of voice, data, and video content to and throughout the home and within corporations. |
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