MIT is known for its excellence in computer engineering. It also has an outstanding, but lesser-known, music and arts program. On Veterans Day weekend, computer engineering and music will connect on the MIT campus, and the result could be important innovations in the way music is produced and enjoyed. Read More »
Some people think that the first step of innovation is asking for $10 million. We have grown accustomed to the idea that landing that kind of money from a granting agency or a venture fund is a prerequisite to execute on an idea for a new technology or market —or for that matter, even come up with a good idea in the first place.
In the last few months, the Occupy Wall Street movement has brought a lot of attention to the finance industry. However, MIT’s Sloan School of Management has been focused on this area for over 40 years. Our finance faculty have been conducting cutting-edge research, and rigorously teaching our students, ensuring that our finance students are prepared—both in theory and practice—to take on the types of leadership roles required in this area, particularly in light of the recent economic crisis.
For businesses that use them, non-compete agreements, which typically bar their employees from joining rival companies for one to two years, offer a clear benefit: They prevent employees from going to a rival with the knowledge and skills they have acquired on the job. But these agreements also carry a high cost for the employees, many of whom did not realize they would be bound by them until after they accepted the job offer. According to my new study of more than 1,000 engineers, about one-third of workers who have signed non-compete agreements end up leaving their chosen industry altogether when they change jobs, often at significant financial cost.
The government should be smart and strategic about the type of spending it will do, says David Schmittlein, MIT Sloan School of Management dean, who says if the government spends on innovative enterprise in America, it can put those dollars to better use.