GEC 2016: Bill Aulet

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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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What Is Entrepreneurship?

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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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Importance of Spirit

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Spirit + Skills

Successful Entrepreneurship


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Successful Entrepreneurship =

Spiritof a pirate

Skillsof a Navy Seal

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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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General Road Map for Needs of Curious Entrep*


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General Road Map for Ready To Go Entrep*


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General Road Map for Entrepreneurship Amplifier*


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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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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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Student Personas

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Comprehensive Curriculum Tile Approach30



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How 24 Steps Was Put Together

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Action

• Entrepreneurship Educators Forum


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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

http://www.eef.io/


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Michal Gilon-Yanai


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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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http://www.disciplinedentrepreneurship.com/

http://www.detoolbox.com/


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Also Available in Spanish


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Free* Online Courses


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Other Relevant Material I


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Other Relevant Material II


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EndQuestions?

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Twitter: @billaulet


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Appendices

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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, …

http://web.mit.edu/site/aboutsite.html

http://web.mit.edu/site/aboutsite.html


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#GEC2016

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Small Business & Entrepreneurship

GEC 2016: Bill Aulet