The MIT Arts Startup Incubator encourages the launch of arts-focused ventures at MIT. Teams are required to have at least one current MIT student member and have a business idea or plan with arts at its core.
Application deadline: Friday, November 1, 2024
Competition Rules
- To compete, your venture must have arts at its core: your idea either directly promotes the arts or features arts as an intrinsic part of the mission or business model.
- Teams must include at least one current MIT student that is able to attend the course and program elements in person, unless there are extenuating circumstances. Currently registered MIT students include all full-time undergraduates, graduate students, and postdoctoral candidates. Teams may include non-students; however, each team must be composed of at least 50% students from MIT or other schools.
- Each team may enter only one idea.
- Submissions must be the original work of the submitting team.
- The Review Committee reserves the right to disqualify any entry.
Judging Criteria
The MIT Arts Startup Incubator seeks ventures with a strong:
ARTS FOCUS
The arts are core to the team’s venture. The team has explained how their business idea and model fit into the arts continuum, fairly and sufficiently addressing the needs of artists, the producers, customers/users, and/or other stakeholders involved in a viable arts entrepreneurship initiative.
IMPACT
The arts-focused business offers an innovative approach to solving a real need related to the sustainability of the arts and/or a novel way to increase their cultural and societal impact. The ideal plan can be scaled, and once implemented, will have a substantial, sustainable, and measurable impact. Note that impact may not necessarily translate to profit; social enterprise and nonprofit models are also encouraged.
INNOVATION
The business is doing something new or different. It prioritizes unique solutions that capitalize on untapped market opportunities or offer to impact the industry in an unprecedented way.
BUSINESS MODEL
The pitch describes a clear strategy and milestones that the team will execute to create a financially sustainable venture. Note that some teams may have already tested their business model, while others are in the early stages of developing their plan; applicants of all stages are welcome to compete.
TEAM
The team is composed of individuals with the expertise, skills, and commitment necessary to execute their arts-focused business plan.
Frequently Asked Questions
1. What does it mean to have arts and design at the core of a business?
Your business must create, integrate, or promote the arts as its primary goal. Examples include: a new web platform that connects creatives, a game company that focuses on music, a software that makes it easier to edit video footage, or an e-commerce site that democratizes the art-buying experience. As long as the arts and/or design are critical to your business plan, you are eligible to compete. You can check out past recipients of the award here.
2. How do I apply?
Applications are accepted annually via online submission. Deadline and the access link will be posted here when available. 2024-2025 application is now live.
3. What is the review & selection process?
A panel of reviewers will evaluate the initial applications and contact competitive applicants to schedule an interview. Following the interviews, a group of semi-finalists will be selected to develop their ventures as a cohort. Semi-finalists will be asked to submit additional materials in the spring to move onto the final round. A panel of experts will review the semi-finalist applications and select finalist teams that will participate in the culminating live pitch event. Reviewers may include former and current MIT Visiting Artists, entrepreneurs in the creative industries, local artists, MIT alumni, and leaders in the arts at MIT.
In the initial round, the reviewers are looking for potential. Make sure to clearly define your vision and potential impact. In the final round, the judges are looking for more mature development of that potential in the business plans and prototypes, with a clear understanding of your roadmap to success.
4. What is new to the program this year compared to past years?
There will also be a one-day IAP intensive on January 30 to focus on key topics to start your business and get to know your cohort.
5. Who do I contact with questions about the $15K MIT Arts Startup Incubator?
For more information contact:
Philana Brown
Producer, Arts at MIT
philana@mit.edu
617.258.5627