Per the Competition Submission Agreement (Section 3, pg. 2), participants must enter organized under a single legal entity (e.g., corporation, LLC, sole proprietorship, nonprofit, etc.).
If teams are considering collaborating with another organization due to existing partnerships and/or licensure of intellectual property, we recommend designating a single entity as the competition applicant and only including Team Members who are direct employees or contractors of that entity in the competition submission. The competition applicant may then involve other partners informally as part of the competition process. Investors, donors, suppliers, and third-party holders of any intellectual property licensed to the team for use in its submission are not eligible to be included as Team Members in a competition submission.
Please see associated FAQ answers regarding team ownership of intellectual property (above and below).