the mayfield fellows program - the university of new 1998 program renamed the mayfield fellows...
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The Mayfield Fellows ProgramAn Entrepreneurial Work-Study Program atStanford University’s School of Engineering
Revision Date: June 11, 2002
Created by Mike Rosenbluth (under supervision of Tom Byers)
http://mfp.stanford.edu
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Mayfield Fellows Program (MFP)
Overview
Process
Resources
Impact
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Educative experiences must lead from the classroom into thereal world. The role of the educator is to view teaching
and learning as a continuous process of reconstruction ofexperience.
-John Dewey, ~1930
Learning is a cycle that begins with experience, continueswith reflection, conceptualization or analysis and later
leads to action, which itself becomes a concrete experiencefor reflection.
-David Kolbe, ~1980
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Mission of MFP
To strengthen entrepreneurial leadershipskills in undergraduate engineering andscience students through experiential
learning
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Structure of the Program
l Nine-month work-study program
l Twelve engineering and science undergraduates per year(Mayfield Fellows)
l High-tech start-up internship with eight units ofcoursework and intensive mentoring
l Focused on developing entrepreneurial leadership andmanagement skills
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Sponsored by Stanford TechnologyVentures Program
TeachingCreate & deliver
curricula forengineeringeducation
ResearchSupport research on
technologyentrepreneurship
OutreachDisseminate resultsto accelerate similar
efforts worldwide
MFP’sFit
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MFP Inspiration
l Inspired by large cooperative education programs at other
engineering schools (i.e. Georgia Tech)
l MFP focuses on technology start-ups
l Also inspired by these programs at Stanford:
l Sophomore Seminars - very small courses with senior faculty
l Overseas Studies - small community enters into local culture
l PhD student/faculty relationship - one year of constant contact
to build relationships
l Athletic teams - students exposed to coaching and tutoring
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History1995 Engineering Dean Jim Gibbons and Professor Tom Byers
create a pilot program in entrepreneurship education
1996 Professors Tom Byers and Robert Sutton co-develop the technology ventures co-op in its inaugural year
1998 Program renamed the Mayfield Fellows Program to honorthe support of the Mayfield Fund
2000 Tina Seelig becomes co-director of MFP
2002 Stanford celebrates its 7th class of Mayfield Fellows
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Key Statsl 12 students per year
l 8 different majors (2002 Fellows): Biology, ChemE, CS,English, EE, ME, MS&E
l 30 mentors per yearl 6 local venture capitalistsl 12 executives at the summer start-upl 12 alumni of MFP
l 3 teaching team membersl 1 professorl 1 executive director of centerl 1 teaching assistantl 10 guests in class
l 3:1 “educator” to student ratio
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Mayfield Fellows Program
Overview
Process
Resources
Impact
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The ProcessWINTER
Select outstanding engineering seniorsand co-terms to be Mayfield Fellows
I. SPRING:Students learn structure
and methods of start-ups;
Students matched with paidassignments at high tech
start-up companies
II. SUMMER:Leverage the power of real-world, hands-on experience
III. AUTUMN:Students bring back
experiences and learnfrom them as a group
Each fellow has 3 mentors:1) VC2) Alumnus of MFP3) Entrepreneur @ summer
employer
3 Courses +Paid Summer
Internship
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Winter QuarterApplication Process
l Students submit an applicationl Purpose statement
l Two letters of recommendation
l Transcript
l Work experience and activities
l 24 students selected for interviewsl Interview with professor and a venture capitalist
l Interview with executive director and teaching assistant
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Spring QuarterTheory and Job Search
l 4 unit course - Management of Technology Venturesl Focused on functional management and leadership within high technology
start-ups
l Internship search processl Students search within database and use program connections
l Alumni mentor assignedl Assist in integrating new fellows into the program and in job search
l Venture capitalist mentor assignedl Two students per VC
l Opportunities such as shadowing exist
l Culture buildingl Outings, such as MFP bowling night
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Spring QuarterCourse Syllabus
http://www.stanford.edu/class/e140/e140a/calendar/
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Summer QuarterInternship
l 10 week internship in either technical or non-technical area
l Executive mentorshipl Students meet with a company executive weekly to discuss management
issues
l 1 unit course - journalingl Students respond weekly to journaling assignments
l Example: Explain the work space of your company and its ramificationson communication and culture
l Open housesl Each company hosts an open house for the fellows
l Opportunity to learn about management and leadership challenges in allcompanies
l Alumni retreatl Annual two-day event to reunite past students and discuss issues faced in
the workplace
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Summer QuarterJournal Example
Key Question: What are the advantages and disadvantages of the currentlayout, ambience, and design for your particular startup? What would youchange to improve work flow, communication, and interactions?
...this has created a dichotic culture. While thesecond floor is fairly bustling and loud, the firstfloor is pretty quiet. The reason for this, Ibelieve, is that the new employees are separatedfrom the company culture that thrives on the secondfloor. New employees are unsure what is acceptablebehavior and will naturally be more reserved unlessthey see others behaving differently. The only timeI see my group in remotely the same place is at ourweekly meetings.
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Autumn QuarterReflection and Growth
l 3 unit course - Management of Technology Venturesl Students, faculty, employers, and venture capitalists share recent co-op
experiences
l Students develop “living” case studies and integrative project reports
l Student-initiating learningl Fellows choose what they want to learn and share with others
l A time for reflectionl Time serves as a chance to step back and interpret with others the
experiences had over the summer
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Autumn QuarterCase Study Website Example
...Over the course of the summer, the engineering and marketing groupseach evolved their own ideas about necessary product features. When theproduct development cycle came into full swing, the company found itselfstruggling to come to an agreement on these features. Opinions throughoutthe company were divided over the issue of simplicity vs. capability. A highlytechnical solution would enable the user to access and quantify an answer toany question they could possibly dream; a less technical solution would bemore user-friendly but might sacrifice some of the capability.
Which was more important? Small rifts crept into collaborative teams.Conflict moved from constructive towards destructive as deadlines quicklyapproached. Meetings continued, but at a less productive pace. With timepressures looming and company morale down, the executive team had tomake some decisions. What approach was best to take and how could theteam motivate everyone to take this approach? How could they best manageconflict and press forward in rapid execution?...
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Mayfield Fellows Program
Overview
Process
Resources
Impact
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Peoplel Teaching
l Full time courses in spring and fall
l Administrationl Application process
l Job recruitment
l Event planning
l Mentoringl Venture capitalists
l Alumni
l Executives
l Split between professor, executive director, alumni, andothers
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Marketing
Program has retained high prestige through:
l Selectivityl Only 12 students admitted per year
l Alumnil High caliber encourages top quality students to apply
l Delivers results on reputationl MFP graduates use skills in the workplace and life
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Costs
l Companies pay:l $9000 to student
l $5000 to STVP
l $1000 from Kauffman Foundation to use as student salary
l Funding for professor from university
l Funding for annual alumni retreat from sponsor (e.g.Mayfield Fund)
l Teaching assistant and other administration costs fundedfrom STVP
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Mayfield Fellows Program
Overview
Process
Resources
Impact
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Change in students
l Developed knowledge of leadership and mechanics ofmanaging young ventures
l Socially more confident and aware from interactions withcompany executives, venture capitalists, professors, andalumni
l Improved oral and written communication
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Alumni Network
l Program goes beyond the nine-month experience
l 70 alumni* have formed a tight-knit communityl MFP women’s group meets quarterly
l Students continue to share work experiences and seek advicefrom others
l Community serves as a job resource
l Assist in mentoring current students
l Develop agenda for annual retreat
*As of 2002
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Alumni FeedbackI couldn’t have asked for a better culmination to my Stanford
undergraduate experience-Ben Mossawir
I found it very valuable to be exposed to the business world in a structuredenvironment that most engineers seldom glimpse.
-Katherine Kuchenbecker
I am still learning from my fellow MFP students, even after leavingschool.
-Ben Olding
The MFP experience is without question the best academic experience Ihad at Stanford.
-Kit Rogers
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Assessing success of MFP
l Surveys from students, companies
l Look at where students are 5 - 10 years out from program
l Return to society - If 5% or even 1% of students dosomething incredibly special for world and can point toskills learned in MFP in progress, then it is all worth it
l Potential for huge bang for buck is huge for Stanford,higher education, world
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Contacts
http://stvp.stanford.edu/teach/mayfield.html
Prof. Tom ByersAcademic Director
Tina SeeligExecutive Director
Tell me and I forget. Teach me and I remember. Involve me and I learn.
-Benjamin Franklin