Join us at the DTech Lab (C110) to talk about what makes a great application, better understand the PETE Prize features and hear about what the grand prize winners are up to. This is a great opportunity for you to ask your questions!
Applications open on April 27 and are due on May 8 by 12:00 midnight. To access the application, simply click “Apply Now”. You will complete a series of descriptive and open ended questions, attach your resume and create a 1-minute video introducing your team and business concept. Once you begin completing the application, you have the ability to save your responses online for 15 days. Applications are submitted digitally, only.
The PETE Prize experience provides opportunities for students and alumni to build and extend their relationships with established venture capitalists, industry leaders and expert faculty through a series of workshops featuring business development knowledge in a collaborative setting.
Following the Spring 2026 application period, up to ten (10) teams are chosen to develop their business ideas while attending the workshop series and refining presentation decks. On November 4, 2026 the ten (10) teams present in the preliminary round, culminating in five teams chosen to compete for the grand prize. On November 18, the five (5) final teams compete in the grand prize award round and the winning team is announced at the PETE Prize Award Ceremony on December 3. The Innovation Incubator begins in February 2027 and runs for one year.
The PETE Prize is a part time commitment with mandatory workshop attendance and adherence to the timeline. Workshops are scheduled on Wednesdays during the Fall ‘26 semester, from 4:30pm-6:30pm at the DTech Lab (C110). The workshops are strategically planned as in-person learning experiences and are mandatory. It is important to note that if you are unable to attend the workshops, you are unable to participate in the PETE Prize competition and you should not apply. Attendance in total is a non-negotiable requirement. Workshops are not held during FIT holidays.
The evaluation criteria includes a combination of the applicant's personal qualities (passion, empathy, tenacity, enthusiasm), experience and vision (personal and professional), in combination with the effective articulation of a business concept and proposal. The proposal represents a for-profit business idea, distinctive in the demonstration of creativity, imaginative qualities and with the potential to achieve financial and operational success . The idea includes a focus on the creative industries, promoting FIT's core values of innovation, sustainability and diversity.
