MIT Sloan Startup/Entrepreneur Spotlight

Many think of the Massachusetts Institute of Technology (MIT) as just an engineering school and site to the most famous math problem in film history, but the prestigious university is also home to great business programs at the Sloan School of Management. Through school’s MBA programs—the full-time, Executive MBA and 12-month Sloan Fellows Program—students have an opportunity to earn a stellar, rare education that is key to a successful business career. Given the acclaimed faculty, staff and lengthy history of breakout corporate empires, MBA grads have a chance to earn a spot among the most celebrated MIT Sloan startup companies.

According to the business school, a 2015 study illustrates the economic impact of the MIT’s alumni entrepreneurs, whose companies have created millions of jobs and generate annual revenues of nearly $2 trillion.

How Does MIT Sloan Help Establish Startups Through The MBA Program?

The school grew out of a single course, “Engineering Administration,” which was established by MIT’s Department of Economics and Statistics in 1914. Master’s programs in management started in 1925 and became a separate department in 1930.

The school was renamed in 1962 in honor of Alfred P. Sloan, the Chairman of General Motors, who donated $5 million to MIT to establish a school of industrial management in 1950. As we mentioned earlier, the school offers full-time and executive MBA programs, including the global Sloan Fellows program.

Sloan’s full-time MBA students must complete five core courses:

• Economic Analysis for Business Decisions
• Data, Models and Decisions
• Communication for Leaders
• Organizational Processes
• Financial Accounting

Students are then given the option of pursuing one of three MBA Tracks:

• Enterprise Management
• Finance
• Entrepreneurship & Innovation

We’ll focus on the Entrepreneurship & Innovation Track (E&I). Specialized coursework in this track zeroes in on startup business concepts and launching emerging technology companies. E&I introduces students to the unique entrepreneurial ecosystem at MIT and a number of team-based projects linked to real-world companies helps this track balance theoretical and practitioner education. Students in this track will earn a certificate in Entrepreneurship & Innovation in addition to the MBA degree.

What Are Some Additional Resources Available to Budding Entrepreneurs?

MIT Sloan is the home of the Martin Trust Center for MIT Entrepreneurship, which provides the expertise, support and connections MIT students need to become effective entrepreneurs. The Martin center serves all MIT students, no matter their school or major.

The Martin Trust Center provides support in a number of ways, including:

• Providing high-quality education, advising, and practical experiences.
• Working closely with other MIT departments, labs, centers and groups to connect students with the best entrepreneurship programming across the institute.
• Organizing new programs and activities.

Some of the Trust Center’s most noteworthy initiatives include:

• Sector Practice Leaders: Student leaders for five different industries are selected through a competitive process to develop plans and implement comprehensive, integrated and cutting-edge programs such as advanced classes, active student clubs, annual conferences, business plan contests, hackathons, regular social events, guest speakers and more.
• t=0: A week of celebration for MIT Innovation and Entrepreneurship taking place in September of 2016.
• MIT Fuse: A three-week intensive program open to any MIT student interested in immersing themselves in the startup experience. It runs during the Independent Activities Period in January. Students and teams will be working full-time on a startup venture in our co-working space at the Martin Trust Center and will learn key concepts, get one-on-one coaching and have access to unlimited coffee and ramen noodles.
• MIT delta v: MIT’s student venture accelerator, which provides a capstone educational opportunity for MIT student entrepreneurs that prepares them to hit escape velocity and launch into the real world.

Are There Any Students Organizations Geared Toward Entrepreneurship?

As is true with any business school, student involvement and organization in the form of clubs form a key component the MIT Sloan entrepreneurial ecosystem. Students from all Sloan business programs are able to participate in clubs like the MIT Sloan Entrepreneurship and Innovation Club and the Venture Capital Private Equity Club.

According to the organization, the MIT Sloan Entrepreneurship and Innovation Club fosters the spirit of entrepreneurship across the community and offers an intimate support system for entrepreneurs at Sloan. The club runs the following programs:

• IAP Disciplined Entrepreneurship Program
• Startup Treks to innovation hubs across the United States
• Marketing and Communications
• Speakers and Workshops
• Pitchathons and Hackathons
• Startup Recruiting

Meanwhile, the Venture Capital Private Equity Club’s mission is to provide members with opportunities to learn about the venture capital and private equity industries. Through various social and networking opportunities, members develop relationships with leading professional investors and business executives, as well as members of the MIT community who share similar interests.

Venture Capital Private Equity Club Programs include:

• MIT Venture Capital Conference
• Speaker Series
• Training Courses
• Networking Events
• Treks
• Case Competitions
• Recruiting
• Collaboration with Startups

This is just the tip of the iceberg with Sloan’s entrepreneurial resources. You can learn more about the MIT Sloan Entrepreneurial Ecosystem and its offerings here.

regions: Boston

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