I recently interviewed with an early stage start-up in Cambridge who described one of their core principles as experimentation via hypothesis testing. They were looking for an MBA who would take the same scientific approach they used with their product to develop a road-map for their business. This got me thinking about experimentation and the massive one we’re trying right now with the MIT $100K: the MIT $100K Twitch (or Twitter Pitch) Contest.
The Hypothesis: using prize money and almost frictionless entry criteria, the MIT $100K will reach current and future entrepreneurs from across the country. This will unite the nationwide entrepreneurial community and bring together individuals with similar interests.
The Experiment: With the Twitch Contest, nearly anyone can now participate in the MIT $100K without leaving their armchair. All they need to do is pitch their idea on Twitter (and a few other odds-and-ends) for a chance to win $500 and global recognition as the first ever winner of the MIT $100K Twitch Contest. The winner will be chosen by two criteria: (1) objective Twitch quality and (2) virality. Virality here is key – it will be judged by who retweets a Twitch and the number of followers that person has.
What will happen? We don’t know. What do we hope happens? We have at least one contestant from every state and we attract influential individuals from across the country to cast their vote for Twitches simply by retweeting them.
So if you’re reading this, you have no excuse – enter the contest. Once you’ve Twitched, wage war on the Twittersphere and get the most influential people you can find to retweet you. The Twitching begins on April 20th and will continue for 20 days in celebration of the 20th year of the MIT $100K. Follow the MIT $100K on Twitter and read the rules here.