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# G E C 2 0 1 6 | @ G E C G L O B A L | G E C .
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Bill AuletManaging Director, Martin Trust Center for MIT Entrepreneurship & Author of “Disciplined Entrepreneurship”
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Purpose of this Presentation
• We are all interested in entrepreneurship
• The world needs entrepreneurs more than ever before
• To have more entrepreneurs, we need to educate/train more
and higher quality
• We can do better
• How we can improve entrepreneurship education
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Innovation = Invention*Commercialization
Definition of Innovation
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What Is Entrepreneurship?
Innovation
* Technology essentials
* Knowledge of science & engineering
* Skills to develop
* Skills to build
Entrepreneurship
* Business essentials
* Venture engineering
* Knowledge to frame decisions
* Skills to start
* Skills to grow
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Past
1. Practitioner or Academic
2. Little differentiation between types of entrepreneurship
3. Demand was relatively small & field was seen as a niche
(orphan?)
4. Not perceived as a worthy academic pursuit
5. Can it be taught? Should it be taught?
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• Being an entrepreneuris the new “cool” thing.
As a result,
demand for
entrepreneurship
is blowing up!
Present
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Present
1. Demand sky rockets
2. Overflows from academic institutions
3. Gap filled predominantly with practitioners
4. Shortage of academics
5. Coming crisis in entrepreneurship education (Sept 2013)
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Most Fundamental Questions for Entrepreneurship Education
1. Why
2. Can
3. How
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Crisis in Entrepreneurial Education
Demand
Supply of
quality
Time
Storytelling
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Successful Entrepreneurship =
Spiritof a pirate
Skillsof a Navy Seal
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+
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Future1. Serious academic and professional field
2. Rigorous but practical
3. New type of product
a) Segmentation of market
b) Dynamic system to adjust
c) Value-based as opposed to Credential-centric
d) JIT delivery model
4. Need to differentiate from private models
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Process•Start with market segmentation to identify different types of students in classes todaySegmentation
•Real representative examples (MIT)
•Significant shift in demandPersonas
•Identify needs by persona
•Note common areas as wellNeeds
•Modular for flexibility & customization, as well as rigor & quality
•What is our current set of offerings?Design
•Multiple mechanisms for delivery
•Giving options to customers (students)Delivery
•Research best practices
•Identify gaps and areas of weakness Remediation plans developed & implementedAction
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Example: Target Customer Definition & Segmentation for MIT
• MIT students• Undergraduate (UG)
• Graduate Student – MBAs (MBA)
• Graduate Student – other Masters or PhD (Grad)
• Post Doctoral Student* (PostDoc)
• Any of the five schools at MIT
• We will further distinguish between all of these categories of students by their interests using the persona methodology
• Again, we focus on IDE not SME entrepreneurship
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Market Segmentation: Personas
Exploratory/Curious
Ready-to-Go Entrepreneurship Amplifier
Corporate Entrepreneur
Description of Persona
Interested but has no driving idea or team; is in exploratory mode; starts here but will migrate to another state or out of entrepreneurship
Chomping at the bit & just wants help to get going – has idea, tech &/or core of team
Interested in understanding enough to successfully promote in their org (e.g., gov, corp, family business) but is not the entrepreneur
Wants to be an entrepreneur in a large organization
Needs at a High Level
Need info on career choice, soft skills, ideation, team building and then some first-hand experience to get a sense of the process
Wants specific skills and lots of them, very quickly; less on the upfront things emphasized for the “curious” persona; wants the deep, immersive experience of being an entrepreneur on her idea/technology
Interested in all steps in some depth but even more interested in strategy, policy and economic impact of the field. Will want to have the experience of being an entrepreneur so can empathize but more interested in the process than the idea or team
Wants depth in executing the process so comfortable doing it again but less tied to the idea or team; more interested in organizational issues and environment issues
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* - An open framework built for constant refinement
Aggregate Needs Assessment: Business Essentials*
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* - An open framework built for constant refinement
General Road Map for Needs of Curious Entrep*
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* - An open framework built for constant refinement
General Road Map for Ready To Go Entrep*
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* - An open framework built for constant refinement
General Road Map for Entrepreneurship Amplifier*
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* - An open framework built for constant refinement
General Road Map for Corporate Entrep*
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Fulfillment Mechanisms
1. Residential Classes (Full Semester, Half Semester, Short
Classes)
2. Online Classes (e.g., edX/MITx/OpenCourseWare)
3. Lecture Series and/or Workshops (“SnackPacks”)
4. Extra or Co-Curricular Clubs/Activities (e.g.,
Competitions, Hackathons)
5. Resources Page (Supplementary materials, e.g., blog posts,
podcasts, video or other materials)
6. Advisory Network (Specialists, Coaches, Mentors)
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* - An open framework built for constant refinement
Full Suite of Offerings Within Each Tile
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Most Fundamental Questions for Entrepreneurship Education
1. Why
2. Can
3. How
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How
• How should entrepreneurship be taught?
1. Open (common language & best tools)
2. Systems Approach (integrated & prescriptive)
3. Rigorous but Practical (mens et manus)
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Comprehensive Curriculum Tile Approach30
* - An open framework built for constant refinement
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The mission: Improve entrepreneurship education,
and make it more rigorous and professional
• How?– An open-source, collaborative platform for curated high quality
entrepreneurship teaching materials
– A community to discuss challenges, share best practices and drive innovation in entrepreneurship education
– Guidance and support from an advisory council – leaders of entrepreneurship education in top institutions
• What? – An online platform (MVP launched @ www.eef.io)
– The MIT entrepreneurship programming roadmap as a base to get going
– A series of webinars focusing on the “tiles” in the framework, recorded and available on the website – often including syllabi and other teaching materials
– All free and open to all
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Future1. Serious academic and professional field
2. Rigorous but practical
3. New type of product
a) Segmentation of market
b) Dynamic system to adjust
c) Value-based as opposed to Credential-centric
d) JIT delivery model
4. Need to differentiate from private models
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What Differentiates Us?
• We help create entrepreneurs not
companies.
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What We Are Not …o Economic development organizations
o It is a by product but not the focus
o This makes us unique in an entrepreneurial ecosystem and we should
be proud and steadfast in our commitment to our mission and role
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More Info
The Bookwww.disciplinedentrepreneurship.com
Progress Dashboard
www.detoolbox.com
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Story of Reo, Rita, Natalie, Chuan & Gavin
Start IAPJan 2015
15.390Feb – May 2015
GFSAJune – Aug
2015
BCG
Hacking Arts
PowderWave
GSDSept – Jan
2015
IDEOSumo Logic
TA
6.93
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Key Take Aways• Entrepreneurship can be taught and it is effectively with a good
process
• The students appreciate there is value in a rigorous/disciplined
process for entrepreneurship – it is not just magic and mentorship
• Entrepreneurs and companies evolve over time in a Darwinian
manner – fluid teams are essential to optimize the learning process
(as well as success)
• By the way, note the diversity in the teams!
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Validation
Designing Team Building Check Points on the Entrepreneurship Education Ramp
Inspiration, Idea,
Technology
Classroom Extra-Curricular
Accelerator
Key Points to Form/Reform Team:V1, V2, V3, V4, …