What is the PETE Prize?

The PETE Prize for Entrepreneurs is an FIT DTech Lab, jury-selected merit award competition. The award recognizes excellence in the development of fresh, insightful and creative concepts. We celebrate ideas that can be successfully translated into execution focused plans and those which leverage innovative, design-oriented thinking.

PETE exemplifies the core characteristics (passion, empathy, tenacity, enthusiasm) that can revolutionize business by challenging norms and putting forth brave new ideas. If you believe you have the vision to make the world a better place by being an innovative leader, the PETE Prize is for you.

Why should I apply?

The PETE Prize is more than just another award. Selected applicants participate in several months of clinics, workshops, and knowledge sharing by established venture capitalists, industry leaders and mentors - an excellent learning experience for FIT students resulting in financing for a new business idea as well as office space to establish the base of operations and plan their enterprise launch.

What do I win?

The PETE Prize Grand Prize winner will receive:

• $30K seed funding
• 1-year of office space (Brooklyn Navy Yard)
• Business development advisory
• Innovation Incubator for one year
• Press opportunities

Who is eligible?

• Students must be enrolled at FIT as a full time or part time student in an undergraduate (Associates/Bachelor's) or graduate program, and be scheduled to graduate in Spring '24. Recent alumni, who graduated in Fall '22, Spring '23 or Fall '23 are eligible to apply.
• Spring '24 AAS graduates scheduled to begin a bachelors program in Fall '24 are ineligible to apply this year.  Spring '23 AAS graduates who are currently working towards receiving their bachelors degree in Spring '25, are also ineligible to apply to the PETE Prize at this time.
• At the time of application, students and alumni must be legal permanent residents or U.S. citizens. Applicants who are actively in the process of receiving work authorization, not including OPT, may be eligible to apply. For consideration, contact dtech_lab@fitnyc.edu.
• For-profit business concept proposals which have a focus on art, business, design, mass communication and technology connected to the fashion industry and which promote FIT's core values of innovation, sustainability and diversity.
• Start-up businesses are eligible for inclusion in applications as for-profit ventures if the company has historically earned less than $10,000 in funding.