How to incubate innovation – Christian Catalini

MIT Sloan Professor Christian Catalini

MIT Sloan Professor Christian Catalini

From Business Value Exchange

The first thing an organization can do to nurture innovation is to tap into its own human capital. At a high level, all organizations care about ideas, and more often than not, in corporate settings, people already have ideas. Staff have expertise, know the customers, and throughout the organization they can interface with interesting sources of data and information.  It’s just that their day-to-day requirements do not allow them to execute. Slack time can be an important lever for incubating creativity and a meaningful way for executing ideas employees have had in mind for some time.

But if you ask employees to be entrepreneurial, it’s not same – they may end up directing their own unit, but not building and scaling a multi-billion dollar start-up. It’s hard when you have the safety and surroundings of a large organization to act like entrepreneurs who have to attract capital from outside. The challenge is once you identify talent and the ideas inside to incentivize to execute an experiment as though it were a start-up. Perhaps the biggest organizational change is to think like a small start-up.

From an organizational perspective, firms can learn a great deal from university accelerators. At MIT, we have Global Founders’ Skill Accelerator, where we get students with good ideas to scale businesses. The interesting thing is that students who have no experience of entrepreneurship get feedback and advice from a set of seasoned entrepreneurs. Similarly, an enterprise may have skills and expertise on the tech side, but no track record of taking an idea and scaling it to a multi-billion project. The challenge is how to recruit entrepreneurs to train employees with the good ideas to take them to the next level. Read More »

Female Entrepreneurs: Gaining Ground – Trish Cotter

MIT Sloan’s Trish Cotter

Women now make up nearly 40 percent of new entrepreneurs in the United States — the highest percentage since 1996, according to the 2017 Kauffman Index of Startup Activity. And research reported in HBR.com shows that The Gender Gap in Startup Success Disappears When Women Fund Women; encouraging news indeed.

With MIT’s delta v student venture accelerator, the Martin Trust Center MIT Entrepreneurship  welcomes a new group of students each summer and puts them through “entrepreneurial boot camp.” I want to give you a glimpse at some of the inspiring female entrepreneurs I’ve worked with, and how they are succeeding at what they do, shattering glass ceilings at every level:

 

• Take Natalya Brinker, CEO of Accion Systems, an MIT PhD graduate and a member of the 2014 accelerator cohort. Accion is developing revolutionary propulsion for satellites that will make space more accessible and affordable across industries. The company itself is seeing quite a bit of propulsion receiving funding from the Department of Defense and a Series A round and winning numerous awards.

• Or Katie Taylor, the CEO and co-founder of Khethworks, who earned her Master’s degree from MIT’s Department of Mechanical Engineering in 2015 and was part of the accelerator program that summer. Khethworks is a company that supports farmers in eastern India, where more than 30 million farmers tend to an acre or less of land. The company has developed a solar-powered irrigation system that lets these farmers affordably cultivate year-round.

• And Steph Speirs, a member of the 2016 delta v group who is co-founder and CEO of The Solstice Initiative, a nonprofit with a goal of providing solar power to underserved Americans by partnering with communities to share solar power. Speirs graduated from MIT with an MBA this June, and was honored as an Echoing Green Fellow and Soros Fellow during her time here as a student.

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Our two “E’s” at MIT Sloan: Education and Entrepreneur — Miro Kazakoff

Miro Kazakoff, MBA 2011  Image credit: Upstart Business Journal

MIT Sloan Lecturer Miro Kazakoff, MBA ’11
Image credit: Upstart Business Journal

Though my memory might fail me, the first person I remember meeting at the MIT Sloan School of Management was fellow first-year MBA student Tom Rose. Though we’re both the kind of students that enjoy classroom learning, it was the exciting and creative environment outside of class that really motivated us to try to build something from scratch. That’s why we launched “The MBA Show,” a weekly live web show about MBA news.  We never asked permission, the two of us just started shooting it every week in front of a red curtain taped onto the cafeteria wall. At Sloan, you were able to just kind of do those things without asking permission. You had the space and the freedom to be able to develop ideas and operate like that without having to ask anyone first..

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