IDEAS Grant Funds
As part of your Final Proposal submission, you’ll prepare a budget that outlines your anticipated expenses for the project. Although grant amounts are determined by merit rather than need, your proposed budget will lay the groundwork for your discussion with IDEAS staff about how you can use funds.
Implementation grants are awarded for $15,000, $10,000, and $7,500, and the funds are disbursed directly to the full-time MIT student leader(s) in two payments. We cannot distribute funds directly to students’ businesses or organizations.
Funds must be used explicitly for the project outlined in the team’s proposal – funds cannot be used for general business expenses, such as legal and patent fees, staff salaries, participating in or traveling to other competitions, and similar expenses. However, implementation grants can be used more flexibly for important services, such as rapid prototyping, design, manufacturing, website services, etc. that are essential for moving your project forward.
All unused funds revert to the PKG Center. Grants come with specific requirements for tracking expenses and reporting to the PKG Center. Should you receive a grant, you will be required to sign off on an Agreement that outlines these requirements.
Keep in mind:
- If you are working on research with human subject, you should review MIT’s COUHES (Committee on the Use of Humans as Experimental Subjects) process and check if your project will need their approval.
- If you are working on building / making / testing things, you may need to communicate with EHS on a Safety Plan and finding appropriate space where you can work on your project.
Other Funding Opportunities
We recognize that many teams require resources in addition to what we can provide. We’re happy to try to connect you with additional opportunities. Read more about other funding and support opportunities here.