1. ENTREPRENEURSHIP
EDUCATION
1
January 10, 2016
Bill Aulet
Managing Director,
Martin Trust Center
for MIT Entrepreneurship
The Past, Present and Future of

2. Purpose of this Presentation
We are all entrepreneurship educators
The world needs us more than ever before
We can do better
How we can up our game
2

3. What Is Entrepreneurship?
3

4. Innovation = Invention*Commercialization
Definition of Innovation

5. 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
5

6. 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?
6

7. 7
Being an entrepreneur
is the new “cool” thing.
As a result,
demand for
entrepreneurship
is blowing up!
Present

8. 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)
8

9. Most Fundamental Questions
for Entrepreneurship Education
1. Why
2. Can
3. How
9

10. 10
Crisis in
entrepreneurial education
Demand
Supply of
quality
Time
Storytelling

11. Importance of Spirit
11

12. 12
Spirit + Skills
Successful Entrepreneurship

13. Successful Entrepreneurship
=
Spirit
of a pirate
Skills
of a Navy Seal
13
+

14. Future
1. 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
14

15. Process
•Start with market segmentation to identify different types of students in classes today
Segmentation
•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
15

16. 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
16

17. 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
17

18. Needs Assessment: Business Essentials* 18
Defining & Refining
Product  Market
Fit
Ideation
Team
Building 1
Career
Choice
Soft
Skills
Primary Market
Research
Key Founders’
Decisions
Sales
Basics of
Finance
Communications
Sector Deep
Dives
Customer
Acquisition
Strategy
Product
Design
Product
Development
Leadership &
Culture
Negotiations
Scaling -
Manufacturing
Work-Life
Balance
Financing
HR
Project
Management
Dealing with
Adversity
Core Entrepreneurship Specific Skills :
Corporate
Entreprnrship
Corporate
Strategy
“Nucleation”
(Phase 1)
“Product Definition”
(Phase 2)
“Venture Development”
(Phase 3)
Product
Management
Legal
Business Model
& Pricing
Scaling: Process
& Infrastructure
General Skills Valuable to Entrepreneurs:
Essential Skills for Entrepreneurs (Semi-Customized):
Building
Eship Systems
* - An open framework built for constant refinement

19. Curious Entrepreneur Specific Needs 19
Defining & Refining
Product  Market
Fit
Ideation
Team
Building 1
Career
Choice
Soft
Skills
Primary Market
Research
Key Founders’
Decisions
Sales
Basics of
Finance
Communications
Sector Deep
Dives
Customer
Acquisition
Strategy
Product
Design
Product
Development
Leadership &
Culture
Negotiations
Scaling -
Manufacturing
Work-Life
Balance
Financing
HR
Project
Management
Dealing with
Adversity
Core Entrepreneurship Specific Skills :
Corporate
Entreprnrship
Corporate
Strategy
“Nucleation”
(Phase 1)
“Product Definition”
(Phase 2)
“Venture Development”
(Phase 3)
Product
Management
Legal
Business Model
& Pricing
Scaling: Process
& Infrastructure
General Skills Valuable to Entrepreneurs:
Essential Skills for Entrepreneurs (Semi-Customized):
Building
Eship Systems

20. Ready to Go Entrepreneur 20
Defining & Refining
Product  Market
Fit
Ideation
Team
Building 1
Career
Choice
Soft
Skills
Primary Market
Research
Key Founders’
Decisions
Sales
Basics of
Finance
Communications
Sector Deep
Dives
Customer
Acquisition
Strategy
Product
Design
Product
Development
Leadership &
Culture
Negotiations
Scaling -
Manufacturing
Work-Life
Balance
Financing
HR
Project
Management
Dealing with
Adversity
Core Entrepreneurship Specific Skills :
Corporate
Entreprnrship
Corporate
Strategy
“Nucleation”
(Phase 1)
“Product Definition”
(Phase 2)
“Venture Development”
(Phase 3)
Product
Management
Legal
Business Model
& Pricing
Scaling: Process
& Infrastructure
General Skills Valuable to Entrepreneurs:
Essential Skills for Entrepreneurs (Semi-Customized):
Building
Eship Systems

21. Corporate Entrepreneur 21
Defining & Refining
Product  Market
Fit
Ideation
Team
Building 1
Career
Choice
Soft
Skills
Primary Market
Research
Key Founders’
Decisions
Sales
Basics of
Finance
Communications
Sector Deep
Dives
Customer
Acquisition
Strategy
Product
Design
Product
Development
Leadership &
Culture
Negotiations
Scaling -
Manufacturing
Work-Life
Balance
Financing
HR
Project
Management
Dealing with
Adversity
Core Entrepreneurship Specific Skills :
Corporate
Entreprnrship
Corporate
Strategy
“Nucleation”
(Phase 1)
“Product Definition”
(Phase 2)
“Venture Development”
(Phase 3)
Product
Management
Legal
Business Model
& Pricing
Scaling: Process
& Infrastructure
General Skills Valuable to Entrepreneurs:
Essential Skills for Entrepreneurs (Semi-Customized):
Building
Eship Systems

22. Entrepreneurship Amplifier 22
Defining & Refining
Product  Market
Fit
Ideation
Team
Building 1
Career
Choice
Soft
Skills
Primary Market
Research
Key Founders’
Decisions
Sales
Basics of
Finance
Communications
Sector Deep
Dives
Customer
Acquisition
Strategy
Product
Design
Product
Development
Leadership &
Culture
Negotiations
Scaling -
Manufacturing
Work-Life
Balance
Financing
HR
Project
Management
Dealing with
Adversity
Core Entrepreneurship Specific Skills :
Corporate
Entreprnrship
Corporate
Strategy
“Nucleation”
(Phase 1)
“Product Definition”
(Phase 2)
“Venture Development”
(Phase 3)
Product
Management
Legal
Business Model
& Pricing
Scaling: Process
& Infrastructure
General Skills Valuable to Entrepreneurs:
Essential Skills for Entrepreneurs (Semi-Customized):
Building
Eship Systems

23. 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)

24. Offerings Mapping to Needs 24
Defining & Refining
Product  Market
Fit
Ideation
Team
Building 1
Career
Choice
Soft
Skills
Primary Market
Research
Key Founders’
Decisions
Sales
Basics of
Finance
Communications
Sector Deep
Dives
Customer
Acquisition
Strategy
Product
Design
Product
Development
Leadership &
Culture
Negotiations
Scaling -
Manufacturing
Work-Life
Balance
Financing
HR
Project
Management
Dealing with
Adversity
Core Entrepreneurship Specific Skills :
Corporate
Entreprnrship
Corporate
Strategy
“Nucleation”
(Phase 1)
“Product Definition”
(Phase 2)
“Venture Development”
(Phase 3)
Product
Management
Legal
Business Model
& Pricing
Scaling: Process
& Infrastructure
General Skills Valuable to Entrepreneurs:
Essential Skills for Entrepreneurs (Semi-Customized):
Building
Eship Systems
Ideation
Classes:
• 6.933: Founders’ Journey (1 class)
• 15.390: New Enterprises (2 classes)
• Also included in 2.75: Medical Device
Design, 3.042: Materials Project Lab,
2.009: Prod Engineering Process,
ESD.051J: Eng Innovation & Design
• IAP class: “Figuring Out the Next Big
Thing” IAP.123
edX:
• Watch this space …
Extra-Curricular & Clubs:
• Sloan Design Club
• Hackathons (e.g MIT Hacking Medicine)
• $100K Brainstorming sessions
SnackPacs
• t=0 Brainstorming Sessions
• Lecture series (at least every 2 months)
Online/Library:
• Videos (IDEO, Improv, plus others)
• Tina Seelig online class
• Add books
Professional Advisor Network Contacts
• Main contact: Sam Breen
• Specialist: Elaine Chen*
• Gordon Contact: Blade Kotelly
• VMS Contact: Roman Lubensky

25. Most Fundamental Questions
for Entrepreneurship Education
1. Why
2. Can
3. How
25

26. 26

27. How
How should entrepreneurship be taught?
1. Open (common language & best tools)
2. Systems Approach (integrated & prescriptive)
3. Rigorous but Practical (mens et manus)
27

28. Student Personas
“Ready to Go”
Chris had his business idea
even before the school year
began and the drive to start
his business ASAP. Chris is
already meeting other
students so he can find his co-
founder, securing mentors,
and building his network. He is
taking the course for some
guidance, but he would have
started his business even
without the class.
28

29. Comprehensive Curriculum Tile Approach 29
Defining & Refining
Product  Market
Fit
Ideation
Team
Building 1
Career
Choice
Soft
Skills
Primary Market
Research
Key Founders’
Decisions
Sales
Basics of
Finance
Communications
Sector Deep
Dives
Customer
Acquisition
Strategy
Product
Design
Product
Development
Leadership &
Culture
Negotiations
Scaling -
Manufacturing
Work-Life
Balance
Financing
HR
Project
Management
Dealing with
Adversity
Core Entrepreneurship Specific Skills :
Corporate
Entreprnrship
Corporate
Strategy
“Nucleation”
(Phase 1)
“Product Definition”
(Phase 2)
“Venture Development”
(Phase 3)
Product
Management
Legal
Business Model
& Pricing
Scaling: Process
& Infrastructure
General Skills Valuable to Entrepreneurs:
Essential Skills for Entrepreneurs (Semi-Customized):
Building
Eship Systems
* - An open framework built for constant refinement

30. How 24 Steps Was Put Together 30

31. 31

32. 32

33. 33

34. 34

35. 35

36. 36

37. 37

38. Action
• Entrepreneurship Educators Forum

39. 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

40. 40
Michal Gilon-Yanai

41. Future
1. 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
41

42. What Differentiates Us?
We help create entrepreneurs not companies.
42

43. 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
43

44. Follow Up
• Workshop today from 3:15 to 4:45 pm in Grand
Ballroom
• www.EEF.io
• aulet@mit.edu
44

45. More info
The book
www.disciplinedentrepreneurship.com
Progress Dashboard
www.detoolbox.com
45

46. 46
Free* Online Courses

47. Other Relevant Material I

48. Other Relevant Material II

50. End
Questions?
50

51. Appendices
51

52. Story of Reo, Rita, Natalie, Chuan & Gavin
Start IAP
Jan 2015
15.390
Feb – May 2015
GFSA
June – Aug 2015
BCG
Hacking Arts
PowderWave
GSD
Sept – Jan 2015
IDEOSumo Logic
TA
6.933

53. 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!
53

54. 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, …