- The entry must involve a technology, product, service, or process aimed at solving a problem related to the world’s water challenges.
- A team must be comprised of at least one student who is fully enrolled at any college or university, and it must be a student who presents the pitch.
- At least one presenter from the team must be available to attend the final pitch showcase on MIT campus in Cambridge, MA on April 4, 2018 (and some travel support will be available for finalists).
- Teams are not eligible to participate in the Spring 2018 MIT Water Innovation Prize if they have secured combined funding, grants, prize money, or revenue greater than $100,000 (exclusive of funding explicitly awarded for research, technology, or product development).
- Entering teams must be prepared to provide documentation to validate any claims that are made concerning the intellectual property underlying their business plans, including any claims concerning the licensing of Third-Party IP. Entries should be made with the full understanding of MIT’s regulations on Intellectual Property Rights.
Regarding the prize money, please note that prize payments are treated as income by MIT and the IRS, regardless of whether the payment is made to an individual or a company. Non-U.S. citizens are taxed on their prize money up front at a rate of 30%, which is withheld from their prize checks.
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