The Past, Present and Future Of: Entrepreneurship

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The Past, Present and Future of

ENTREPRENEURSHIP
EDUCATION
January 10, 2016
Bill Aulet
Managing Director,
Martin Trust Center
for MIT Entrepreneurship
2
Purpose of this Presentation
We are all entrepreneurship educators
The world needs us more than ever before
We can do better
How we can up our game

3
What Is Entrepreneurship?
Definition of Innovation
Innovation = Invention*Commercialization
5
What Is Entrepreneurship?
Innovation Entrepreneurship
* Technology * Business
essentials essentials
* Knowledge of * Venture
science & engineering
engineering * Knowledge to
* Skills to develop frame decisions
* Skills to build * 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?
7
Present
Being an entrepreneur
is the new “cool” thing.
As a result,
demand for
entrepreneurship
is blowing up!
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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
Storytelling
Supply of
quality
Time
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Importance of Spirit
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Successful Entrepreneurship
Spirit + Skills
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Successful Entrepreneurship
=
+
Spirit Skills
of a pirate of a Navy Seal
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Future
1. 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
Segmentation •Start with market segmentation to identify different types of students in classes today
Personas •Real representative examples (MIT)

•Significant shift in demand
Needs •Identify needs by persona

•Note common areas as well
Design •Modular for flexibility & customization, as well as rigor & quality
•What is our current set of offerings?
Delivery •Multiple mechanisms for delivery

•Giving options to customers (students)
Action •Research best practices

•Identify gaps and areas of weakness  Remediation plans developed & implemented
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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/ Ready-to-Go Entrepreneurship Corporate

Curious Amplifier Entrepreneur
Description Interested but has no Chomping at the bit & Interested in Wants to be an
driving idea or team; is in just wants help to get understanding enough to entrepreneur in a large
of Persona exploratory mode; starts going – has idea, tech successfully promote in organization
here but will migrate to &/or core of team their org (e.g., gov, corp,
another state or out of family business) but is not
entrepreneurship the entrepreneur
Needs at a Need info on career Wants specific skills and Interested in all steps in Wants depth in
choice, soft skills, lots of them, very some depth but even executing the process
High Level ideation, team building quickly; less on the more interested in so comfortable doing it
and then some first-hand upfront things strategy, policy and again but less tied to
experience to get a emphasized for the economic impact of the the idea or team; more
sense of the process “curious” persona; field. Will want to have interested in
wants the deep, the experience of being an organizational issues
immersive experience entrepreneur so can and environment
of being an empathize but more issues
entrepreneur on her interested in the process
idea/technology than the idea or team
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Needs Assessment: Business Essentials*
Core Entrepreneurship Specific Skills :
“Nucleation” “Product Definition” “Venture Development”
(Phase 1) (Phase 2) (Phase 3)
Career Key Founders’ Sector Deep Business Model

Defining & Refining HR
Ideation Decisions Dives & Pricing
Choice Product  Market
Fit Basics of Product Scaling - Leadership &
Finance Design Manufacturing Culture
Team
Building 1 Primary Market Product Scaling: Process Work-Life
Research Legal Development & Infrastructure Balance
Customer Product Corporate
Strategy Financing
Acquisition Management Entreprnrship
Building
Eship Systems
Essential Skills for Entrepreneurs (Semi-Customized):
Soft Dealing with

Sales Communications Negotiations
Skills Adversity
General Skills Valuable to Entrepreneurs:

Project Corporate
Management Strategy
* - An open framework built for constant refinement

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Curious Entrepreneur Specific Needs

Team
Strategy Financing
Building
Eship Systems
Soft Dealing with

Skills Adversity

Project Corporate
Management Strategy
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Ready to Go Entrepreneur

Team
Strategy Financing
Building
Eship Systems
Soft Dealing with

Skills Adversity

Project Corporate
Management Strategy
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Corporate Entrepreneur

Team
Strategy Financing
Building
Eship Systems
Soft Dealing with

Skills Adversity

Project Corporate
Management Strategy
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Entrepreneurship Amplifier

Team
Strategy Financing
Building
Eship Systems
Soft Dealing with

Skills Adversity

Project Corporate
Management Strategy
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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Offerings Mapping to Needs
Ideation
Classes:
• 6.933: Founders’ Journey (1 class)
“Nucleation” •
“Product15.390:
Definition”
New Enterprises (2 classes) “Venture Development”
(Phase 1) • (Phase
Also 2)
included in 2.75: Medical Device (Phase 3)
Design, 3.042: Materials Project Lab,
Career
2.009: Prod EngineeringKey Founders’
Process, Sector Deep Business Model
Defining & Refining
ESD.051J: Eng Innovation & Design HR
Choice •
Product IAP class: “Figuring Out the Next Big
 Market
Thing” IAP.123
edX: Fit Basics of Product Scaling - Leadership &
• Watch this space … Finance Design Manufacturing Culture
Team Extra-Curricular & Clubs:
Building 1 •
Primary Market
Sloan Design Club Product Scaling: Process Work-Life
• Hackathons (e.g MIT HackingLegal
Medicine)
•
Research
$100K Brainstorming sessions Development & Infrastructure Balance
SnackPacs
• t=0 Brainstorming Sessions Customer Product Corporate
•
Strategy Financing
Acquisition
Lecture series (at least every 2 months) Management Entreprnrship
Online/Library:
• Videos (IDEO, Improv, plus others) Building
• Tina Seelig online class
• Eship Systems
Add books
Professional Advisor Network Contacts
• Main contact: Sam Breen
Soft • Specialist: Elaine Chen* Dealing with
• Gordon Contact: Blade Kotelly Sales Communications Negotiations
Skills • VMS Contact: Roman Lubensky
Adversity

Project Corporate
Management Strategy
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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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Student Personas
“Ready to Go”
Chris had his business idea
even before the school year
began and the drive to start
his business ASAP. Chris is
already meeting other
students so he can find his co-
founder, securing mentors,
and building his network. He is
taking the course for some
guidance, but he would have
started his business even
without the class.
29
Comprehensive Curriculum Tile Approach

Team
Strategy Financing
Building
Eship Systems
Soft Dealing with

Skills Adversity

Project Corporate
Management Strategy
* - An open framework built for constant refinement

How 24 Steps Was Put Together 30
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Action
• Entrepreneurship Educators Forum

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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Michal Gilon-Yanai
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Future
1. 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
42
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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Follow Up
• Workshop today from 3:15 to 4:45 pm in Grand

Ballroom
• www.EEF.io
• aulet@mit.edu
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More info
The book Progress Dashboard

www.disciplinedentrepreneurship.com www.detoolbox.com
Free* Online Courses 46
Other Relevant Material I
Other Relevant Material II
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End
Questions?
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Appendices
Story of Reo, Rita, Natalie, Chuan & Gavin
Start IAP
Jan 2015
15.390
Feb – May 2015
GFSA
June – Aug 2015
Sumo Logic IDEO BCG
GSD
Sept – Jan 2015
TA PowderWave
6.933
Hacking Arts
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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!
Designing Team Building Check Points
on the Entrepreneurship Education Ramp
Key Points to Form/Reform Team:
V1, V2, V3, V4, …
Inspiration, Validation
Idea, Classroom Extra-Curricular Accelerator
Technology

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1

The Past, Present and Future of

Purpose of this Presentation

We are all entrepreneurship educators

The world needs us more than ever before

How we can up our game

1. Demand sky rockets

Most Fundamental Questions

Personas •Real representative examples (MIT)

Needs •Identify needs by persona

Delivery •Multiple mechanisms for delivery

Action •Research best practices

Example: Target Customer

Market Segmentation: Personas

Exploratory/ Ready-to-Go Entrepreneurship Corporate

Career Key Founders’ Sector Deep Business Model

Soft Dealing with

General Skills Valuable to Entrepreneurs:

* - An open framework built for constant refinement

Career Key Founders’ Sector Deep Business Model

Soft Dealing with

General Skills Valuable to Entrepreneurs:

Career Key Founders’ Sector Deep Business Model

Soft Dealing with

General Skills Valuable to Entrepreneurs:

Career Key Founders’ Sector Deep Business Model

Soft Dealing with

General Skills Valuable to Entrepreneurs:

Career Key Founders’ Sector Deep Business Model

Soft Dealing with

General Skills Valuable to Entrepreneurs:

General Skills Valuable to Entrepreneurs:

Most Fundamental Questions

1. Open (common language & best tools)

2. Systems Approach (integrated & prescriptive)

3. Rigorous but Practical (mens et manus)

Career Key Founders’ Sector Deep Business Model

Soft Dealing with

General Skills Valuable to Entrepreneurs:

* - An open framework built for constant refinement

• Entrepreneurship Educators Forum

What Differentiates Us?

We help create entrepreneurs not companies.

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

• Workshop today from 3:15 to 4:45 pm in Grand

The book Progress Dashboard

Sumo Logic IDEO BCG

Key Take Aways

• Entrepreneurship can be taught and it is effectively

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