what is the martin trust center for mit entrepreneurship & why is it so awesome?

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Bill AuletManaging Director

What is the Martin Trust Center for

MIT Entrepreneurship?

… and why is it so awesome?

MIT is Known for Many Things2

Entrepreneurship Legacy

• Fairchild Semiconductors

• Intel

• Hewlett-Packard

• 3Com

• IDG

• Bose

• Qualcomm

• E*Trade

• TSMC (Taiwan Semi)

• iRobot

• Harmonix

• Khan Academy

• Alexa

• Dropbox

• Kiva Systems

• Buzzfeed

• Hubspot

• Okta

• Locu

• … Total: Over 26K, 3M jobs,

$2T/yr

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Center to Support Entrepreneurship @ MIT

• 1990

• Professor Ed Roberts

• For all 5 schools of MIT plus Whitaker College

• 2011 – Supercharged with Gift from Martin Trust (SM

’58)

• Timing could not have been any better

• Coordination and integration of the decentralized

innovation and entrepreneurial ecosystem of MIT

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Overview of MIT Internal Ecosystem5

Mission

The Martin Trust Center for MIT

Entrepreneurship provides the expertise, support,

and connections MIT students need to become

effective entrepreneurs. We serve all MIT

students, across all schools, across all disciplines.

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Goal of Entrepreneurship Education

• Teach how to fish NOT to catch a fish

• Studies show that students most likely start a company years after graduation

• Develop entrepreneurial mindset and skill set

• Applicable in many different settings

• Success if student tries and decides “not for me”

My goal is that while you are at MIT, we will provide you more than you can get anywhere else to build your

capability to be a successful innovation-driven entrepreneur

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Program Pillars

1. Educate

2. Nurture

3. Network

4. Celebrate

5. Research

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Educate

• Well over 50 courses for credit

• Leading academics in field (Prof. Fiona Murray and

Prof. Ed Roberts are Faculty Director and Chair)

• Working collaboratively with practitioners in

classroom

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Overall Academic Framework

New Enterprises; i-Teams

* Mixed faculty & students

* Focused on “Do” not “About”

* Project-based business planning

Skills

* Multiple courses: product, sales, marketing, legal, ops, etc.

Industry

* Multiple courses: Software, healthcare, energy, biotech,

developing world, etc.

In Company

* Multiple courses: E-lab, G-lab, S-lab, D-lab, internships, independent studies, etc.

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Entrepreneurial Strategy

* Led by academic & primarily MBAs

* Strategy applied to startups

* Frameworks plus case studies

Intro to Tech Eship; Founders Journey

* Easy entry point for anyone

* Focused on “About” not “Do”

* Sequenced speaker series

Academic Pyramid

GFSA*

GSD

Advanced Classes

New Enterprises; i-Teams

Intro to Technological Entrepreneurship;

Founders Journey

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Nurture

• Take knowledge and skills developed in classroom

and then translate this into capabilities in the real

world

• An iterative process

• Integration of curricular, co-curricular and extra-

curricular

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Validation

The MIT Entrepreneurship Ramp

Inspiration, Idea,

Technology

Classroom Extra-Curricular Accelerator

Your Primary Care Physicians (Full Time EIRs)

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Christina Chase – Entrepreneur since high school, been through process multiple times; also worked at HP; loves to build stuff; primary contact to School of Engineering; runs t=0; co-teaches Founder’s Journey, GSD & Ent Prod Dev & Mrktng classes

Josh Forman– Product guy with deep technical chops; founded Inkling, grew business and raised over $50M from top investors; was also involved in another successful startup; primary contact to Sloan & will oversee external EIR network

Kyle Judah – Co-founder of 2 startups; raised over $10M & led both to acquisition; leader of the highly successful MIT Global Founders’ Skills Accelerator (GFSA) & Goss Fellows for top student startups across campus

Nurture – Student Clubs

Network

Entrepreneurs also need resources and connections to achieve their goals

Examples:

- Other parts of MIT network

- Peer Advisory Network

- Professional Advisory Network

- Prep and exposure to service providers

- Prep and exposure to specific advisors

- Prep and exposure to funding

- Trips, treks, conferences, hackathons, speaker series, etc.

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MTC4ME Honest Broker Policy

No one in the center will ever take a part of your company,

invest in your company or look for a place on your board. We

will not steer you to one service provider, investor or advisor

but rather provide you with options. The ultimate decision is

strictly yours and that is part of the educational process.

Our only goal is educate you in an unbiased manner for your

long-term success.

We are 100% educators in our service to you.

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MTC4ME Team18

Sam Breen – Resources Gateway,

worked at startup, law school grad, interned at MA Supreme Court

Ana Cuellar – Chief of Staff,

Brown University grad, Gates Millennium Scholar

Eliza Deland– Education

Coordinator, worked in academia, point person for E&I

Chris Snyder – VP of Operations,

Editor in Chief, summa cum laude grad from Tufts

Pat Fuligni – MIT Systems

Interface, @ MIT for 20+ years & knows how to do things right

Georgina Campbell – Executive

Director of REAP, Oxford & MIT grad, SunCatalytix, WorldBank

Steve Haraguchi – Innovation

Initiative Interface, Columbia &

Sloan grad, taught eship to HS

Tim– Beaverpreneur in Residence

Full Time EIRs– Christina, Josh &

Kyle as mentioned before

Validation

Team Building Check Points on the MIT Entrepreneurship Ramp

Inspiration, Idea,

Technology

Classroom Extra-Curricular Accelerator

Key Points to Form/Reform Team:V1, V2, V3, V4, …

Celebrate

• Arghhh ….

• Spirit and confidence to start the journey and then to be successful

• “Nerf gun” test

• Can’t take yourself too seriously or you will be a fragile system

• What we are looking to do is build “anti-fragile” systems/people

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Celebrate: Specific Examples

• Stickers

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Celebrate: Specific Examples

• Stickers

• Physical space

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Celebrate: Specific Examples

• Stickers

• Physical space

• PR

• Awards

• Conferences, e.g., SXSW

• “I have found my people…”

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Research

• Value #1: Rigor and excellence of MIT

• Continue to push envelope – make this more of a profession with a legitimate body of knowledge and not driven by story telling & fads

• Translational research focus … and make it available to the world

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Examples25

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What’s New This Year?

• MIT Innovation Initiative

• Student Practice Leaders (Energy, Healthcare, Finance, Creative Arts)

• Expansion of capabilities (e.g., people, maker spaces)

• New linkages to the Legatum Center

• Lots more awesomeness …

So What Makes it So Awesome?

1. Full set of high quality offerings

2. People

3. Values/Culture

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So What Makes it So Epically Awesome??

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Come by and experience it,

go online to entrepreneurship.mit.edu,

or download our mobile app.

Successful Entrepreneurship=

Spiritof a pirate

Skillsof a Navy Seal

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End

Questions?

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