This is the presentation given to new students to have them understand what the Martin Trust Center for MIT Entrepreneurship is and what makes it so awesome. Lots of info coupled with some humor. September 2014

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Bill Aulet
Managing Director
What is the Martin Trust Center for MIT Entrepreneurship?
… and why is it so awesome?

2. MIT is Known for Many Things
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3. 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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4. 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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5. Overview of MIT Internal Ecosystem5

6. 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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7. 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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8. Program Pillars
1.Educate
2.Nurture
3.Network
4.Celebrate
5.Research
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9. 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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10. 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

11. Academic Pyramid
GFSA*
GSD
Advanced Classes
New Enterprises; i-Teams
Intro to Technological Entrepreneurship;
Founders Journey
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12. 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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13. Validation
The MIT Entrepreneurship Ramp
Inspiration, Idea, Technology
Classroom
Extra-Curricular
Accelerator

14. 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 & Mrktngclasses
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

15. Nurture –Student Clubs

16. 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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17. 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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18. MTC4ME Team
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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 eshipto HS
Tim–Beaverpreneurin Residence
Full Time EIRs–Christina, Josh & Kyle as mentioned before

19. 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, …

20. 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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21. Celebrate: Specific Examples
•Stickers
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22. Celebrate: Specific Examples
•Stickers
•Physical space
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23. Celebrate: Specific Examples
•Stickers
•Physical space
•PR
•Awards
•Conferences, e.g., SXSW
•“I have found my people…”
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24. 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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25. Examples
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27. 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 LegatumCenter
•Lots more awesomeness …

28. So What Makes it So Awesome?
1.Full set of high quality offerings
2.People
3.Values/Culture
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29. 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.

30. Successful Entrepreneurship=
Spiritof a pirate
Skillsof a Navy Seal
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+

31. End
Questions?
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