This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
1. Begin a productive, and hopefully stimulating, dialogue about high tech start-ups and MIT’s commitment to technology innovation and entrepreneurship.
2. Set the stage for possible additional valuable meetings.
3. Provide an opportunity for tough questions and serious, MIT-style networking.
1. Believe that Startup Ventures can Succeed: Parent(s) who are entrepreneurs Early contact with successful entrepreneurs Exposure to success stories and case studies.
2. Gain practical, real world experience before, during and after university studies.
3. Be willing to be Unusual/Unconventional.
4. Agree to Embrace Risk, and possibly failure.
5. Want to leave a large Company.
6. Live in a society that sees the above as normal, not a strange exception.
7. Entrepreneurs ask themselves: “What do we want to do?”• We want to make a world class product whatever it is. • We want to have fun doing it. • We want to get involved in a business area or business segment
Mission Statement of the MIT Entrepreneurship Center:
To train and develop leaders who will make high tech ventures successful
“I want you to be the premier global center for entrepreneurship, and to be recognized as such.”
“We must not only be the best. We must also serve as a model for others and ensure that, together, we all make a significant global impact in this vital field.”
Teamwork creates value and success: Lone wolves build perpetually small companies.
Appreciation and mutual respect for different types of people guarantees better company performance: Excellent sales people are essential (not lower life
forms).
Customers need to feel they have a relationship before they will buy from you.
(especially valuable for engineers, scientists, and business people)
15.391 Raising Early Stage Capital:Shari Loessberg (6 units)
15.392 Business Plans that Raise Money:Russ Olive (6 units)
15.393 Technology and Entrepreneurial Strategy: Fiona Murray (9 units)
15.396 Technology Sales and Sales Management: Howard Anderson, Tim Kraskey, Ken Morse (6 units)
15.399 Entrepreneurship Lab: Barbara Bund, Ken Morse, John Preston (12 units)
15.835 Entrepreneurial MarketingJin Gyo Kim (9 units)
15.968 Building a Biomedical BusinessFiona Murray (9 units)
15.836 ProSeminar in New Product and Venture DevelopmentDrazen Prelec (9 units)
$50K AutumnNovember$1K Entries due
IAP (January)15.963 Technology and Competitive StrategyJoseph Jacobson, Fiona Murray(Continues through Spring)
15.974 Preliminary Venture Analysis and PersonalEntrepreneurial Career StrategyRuss Olive (3 units)
15.975 Nuts and Bolts of Business PlansJoe Hadzima (3 units)
15.976 Starting and Buildinga Successful High Tech VentureBill Aulet, Mike Grandinetti (3 units)
Marketing: An Introduction forEngineering EntrepreneursBarbara Bund (not for credit)Special Course introduces MIT engineers to marketing strategies and customer needs
Entrepreneurship Development Program (EDP)An intense one-week executive education course for entrepreneurs from around the world.
MIT graduate students in Science, Engineering, and Management work about one day each week with high tech start-up companies to:
“Solve a Problem that is Keeping the CEO Awake at Night”
Tremendous Interest 1995-1996: 8 students and 4 host companies 1996-1997: 43 students and 53 host companies 1997-1998: 138 students and 152 host companies 1998-1999: 170 students and 170 host companies 1999-2000: 200 students and 180 host companies 2000-2001: 120 students and 34 host companies
High Company and Student Satisfaction Company Evaluation: “Working with the E-lab team was one of the best managerial
decisions we made…. We are on the verge of raising $10.0 million, and we could not have accomplished this so quickly or efficiently without their help.”
Student Evaluation: “We put into practice all we learned at MIT Sloan and profoundly changed the direction and future of a local company. I’m proud of that, and proud that Sloan provided the opportunity for me to do this.”
Global E-Lab Course began in Fall 2000, with 38 students and 14 host companies located in Argentina, Brazil, Mexico, Norway, France, Turkey, Hong Kong, and Japan
E-Lab Course #15.399Barbara Bund, Ken Morse & John Preston, Senior Lecturers
The MIT EDPMIT Entrepreneurship Development Program
27 - 31 January 2003
Participants learn from: “Live case studies” of successful MIT entrepreneurs; Our faculty and the MIT entrepreneurial spirit; and Route 128 venture capitalists, lawyers, and institutional
investors.
In 1999, 25 participants came from Taiwan, Ireland, Cambridge (UK), Germany, Thailand, France, & US.
In 2000, 65+ persons came from 10+ countries. In 2001, 95+ persons came from 16+ countries In 2002, 70 persons from 13 countries
A one-week program tailored to the needs of future entrepreneurs, university entrepreneurship faculty and staff, and economic development professionals
Student Organizations: MIT$50KTomorrow’s Leading Firms
In its thirteen-year history, the MIT $50K has created: 59 firms and over 1800 jobs $275 Million in Venture Capital invested Aggregate market capitalization has ranged from $5.5 – $40 Billion
Teambuilding + Mentors + Education + Networking + Capital
Entrants include MIT graduate and undergraduate students as well as faculty.
Students from every MIT School and 27 Departments participate (Teams including Sloan students are consistently the strongest entries….)
Over 200 participants came from throughout the MIT entrepreneurship community, including:
Keynote Speakers: Robert Metcalfe, Venture Partner, Polaris Ventures Mr. Richard Testa, Co-Founder and Chairman, Testa, Hurwitz
& Thibeault Thomas J. Colatosti, President and CEO, Viisage
MIT Students and Entrepreneurs-to-Be Boston-Area University Students 59 Venture Capitalists MIT Alumni and Successful Entrepreneurs Entrepreneurial Professional Services Organizations
Alex Laats, PH ‘88, working at the MIT Technology Licensing Office meets two MIT undergraduates, Pehr Anderson, ‘98 EE, and Chris Gadda, ‘98 EE, at a MIT $50K seminar on intellectual property.
July 1996: They found NBX Corp as PowerVoice. MIT invests in the company, and brings along Morgenthaler
Ventures. (David Morgenthaler, ME ‘40) March 1999: 3Com acquires NBX for $90 million. Bob Metcalfe, ‘68 EE/’69 MG, founded 3Com with a group
of fellow MIT alumni. (After many years as a pundit at International Data Group, founded by Patrick McGovern, Jr. ’59, Bob is now a Partner at Polaris Ventures.)