MIT Sloan Blog

Nothing ventured, nothing gained

A little venturing can go a long way. Just ask all those 30-somethings who emerged from the dot-com era with a king’s ransom. Those heady days are gone, of course, but entrepreneurship is still going strong. Especially at MIT, where innovation and cross-disciplinary collaboration make quite suitable bedfellows.

There’s a reason the annual MIT Venture Capital Conference attracts some 400 venture professionals, entrepreneurs, and innovators. Now in its 10th year, the conference is both a showcase for entrepreneurial thought-leadership and a stimulus for entrepreneurial connections.

This year’s conference, Nov. 30, includes presentations from Diane Greene, co-founder and CEO of VMware; Frank Moss, director of the MIT Media Lab; and Christopher Sacca, head of special initiatives at Google. Plus, an Entrepreneur Showcase (Nov. 29, open to the public) will exhibit the business vision and technological prowess of 30 early stage businesses.

Come on, you can venture a little. Check it out >>

- Posted by Scott Rolph

Perfect pitch?

So, you've hooked up with some genius across campus and together you've developed a jaw-dropping product and innovative business model that will save humanity and make you zillions in the process. All you need is venture capital. Well, it goes that a friend of a friend gets you invited to a party for this illustrious vc — big-time investor, hailed the most powerful woman in the city a few years back, rich beyond belief but a sucker for a business plan that marries social good and profitability.

So, you put on your Sunday best and plant yourself amid the gaggle of other would-be entrepreneurs around the bejeweled vc at this lavish affair. Suddenly, the vc spills her drink. The others rush off for paper towels and to refill her drink. They'll be back in 60 seconds. So, you speak. Intelligently? Persuasively?

It's a shame the success of a brilliant business idea could hinge on a 60-second pitch, but there's a reason entrepreneurial gurus like MIT Sloan's Ken Morse stress the importance of the so-called elevator pitch. Your opening could arise in any place, at any moment. You have to capitalize.

Morse has taught students the art of the elevator pitch for years, and refining one's pitch has always been part of the events leading up to the MIT $100K Entrepreneurship Competition, which is in its 18th year and has facilitated the birth of over 85 companies. This year, the elevator pitch emerges from the, um, elevator, with its own competition as part of the Entrepreneurship Competition.

MIT's first-ever Elevator Pitch Contest will take place Oct. 13 at the MIT Stata Center. A panel of venture capitalists, angel investors, and entrepreneurs will judge the contest. There is no fee to participate or attend, and the competition is open to both students and the public. More than $10,000 in prize money will be awarded.

“The Elevator Pitch Contest is a brand new addition to the $100K Entrepreneurship Competition series that allows up-and-coming entrepreneurs to test their ideas with passion,” according to Jeff Sabados, lead organizer of the $100K. “Conceivably, a participant could win $2,500 in 60 seconds, which isn't bad for an afternoon.”

• More on the Elevator Pitch Contest >>

• Contest organizer Gaëtan Bonhomme delivers his pitch (MP3) >>

- Posted by Scott Rolph

Jolly good Fellows

The new MIT Sloan Fellows class joins heady ranks. Carly Fiorina of HP fame, Kofi Annan of, you know, the United Nations, and Keiji Tachikawa, former president of NTT DoCoMo and now head of the Japan Aerospace Exploration Agency (JAXA). It’s possible none of the new Fellows will lead Japan into the final frontier or mediate between Mideast adversaries or be bold enough to tinker with storied HP. But the program’s track record suggests many of them will move on to big-time roles in major corporations, governments, and international bodies. Check out the new crop of Fellows >> (Flash required)

Student stories

Storied careers lie ahead of MIT Sloan students. But the stories leading up to their arrival in Cambridge serve as great prologues. Interesting folks, one and all. In new episodes of the MIT Sloan Podcast, we highlight the stories of three MBA students: Kristen Oldenburger ('08), Susan Rogol ('08), and Oliseyi Boroffice ('07). I don't want to spoil the podcast episodes, but consider these varied backgrounds: One is an airline analyst who traverses ice rinks with the precision of a jet pilot, one a chef and former Martha Stewart colleague, and one a soft-spoken Nigerian intent on alleviating poverty in his native country. Listen to their stories:

• Kristen Oldenburger ('08)
• Susan Rogol('08)
• Oliseyi Boroffice ('07, dual degree with Harvard's Kennedy School)

Oh, and please ignore my bumbling as an interviewer.

- Posted by Scott Rolph

Playing by numbers

Suspect record-breakers. Gambling referees. Interstate dog fighting rings. Lately the sports pages are more concerned with scandal and sensationalism than box scores. While it certainly provides talk radio with endless hours of dialogue, it’s not very good for the games.

As professional sports wades through the legal and public relations consequences of recent events, it’s hard to remember that there is still so much more to sports than a few bad apples — and there’s more afoot than misbehavior. In addition to the athletes giving their all for true love of their game, there are people working hard behind the scenes to put together the best teams possible in the hopes of giving their fans what they most want to talk about: wins.

During the spring semester, the first-ever MIT Sloan Sports Management Conference provided a glimpse into the work of these unsung team players and how they’re changing the face of sports. Featuring leading executives from the major U.S. professional sports leagues, the conference explored the increasing role of analytics in sports. Sponsored by the MIT Sloan Entertainment, Media, & Sports Club, the conference featured alums Daryl Morrey, MBA ’00, general manager of the Houston Rockets, and Jamie McCourt, SF ’94, vice chairman and president of the Los Angeles Dodgers. 

Analytics may not make the headlines, but more and more teams and leagues are finding that it’s making good sense.

Listen to the podcast episode >> (MP3)

- Posted by Michelle Choate

Smart, selfless, and quite a singer

Elaine Chow was not your typical b-school student. She came to MIT Sloan with the express purpose of bringing her newfound business savvy back to the non-profit realm from which she emerged. But altruism was not the only mark of distinction for the recent graduate of the MBA Program. The Oklahoma City native has pipes like you wouldn't believe. Before coming to MIT Sloan, she spent time pursuing a career as a professional opera singer. In the end, her passion for managing non-profits propelled her from the operatic stage to the b-school stage. Before she graduated in June she was kind enough to pass along some recordings. Here goes:

• Elaine Chow — Sample 1

• Elaine Chow — Sample 2

In the next few months, look for our podcast interview with Elaine. We discuss non-profits, opera, and her MIT Sloan experience.

- Posted by Scott Rolph