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Ten	
  Steps	
  to	
  Improve	
  Entrepreneurship	
  Education	
  
By	
  Bill	
  Aulet	
  (Managing	
  Director,	
  MIT	
  Entrepreneurship	
  Center	
  &	
  Senior	
  Lecturer,	
  MIT	
  Sloan	
  
School	
  of	
  Management)	
  &	
  Fiona	
  Murray	
  (Sarofin	
  Family	
  Career	
  Development	
  Professor,	
  MIT	
  
Sloan	
  School	
  of	
  Management	
  &	
  Associate	
  Director,	
  MIT	
  Entrepreneurship	
  Center)	
  
(Article/	
  Short	
  White	
  Paper)	
  
	
  
Entrepreneurs	
  and	
  educators	
  agree	
  on	
  two	
  fundamental	
  points.	
  	
  The	
  first	
  is	
  so	
  obvious	
  that	
  it	
  hardly	
  
bears	
  repeating	
  but	
  let’s	
  restate	
  it	
  anyway	
  –	
  entrepreneurship	
  is	
  very,	
  very	
  important.	
  	
  Entrepreneurs	
  
are	
  the	
  critical	
  driver	
  of	
  job	
  creation	
  and	
  economic	
  prosperity.	
  	
  The	
  second	
  is	
  equally	
  important	
  and	
  
often	
  left	
  unspoken	
  and	
  that	
  is	
  that	
  academic	
  institutions	
  can	
  and	
  should	
  play	
  a	
  more	
  central	
  role	
  in	
  
improving	
  the	
  quality	
  and	
  quantity	
  of	
  entrepreneurs.	
  While	
  many	
  conversations	
  we	
  have	
  on	
  this	
  topic	
  
start	
  by	
  someone	
  asking	
  whether	
  entrepreneurship	
  can	
  be	
  taught,	
  they	
  typically	
  end	
  with	
  an	
  
impassioned	
  discussion	
  on	
  how	
  to	
  improve	
  entrepreneurship	
  education	
  in	
  the	
  United	
  States	
  and	
  around	
  
the	
  world.	
  	
  Why	
  not	
  learn	
  lessons	
  from	
  successful	
  and	
  failed	
  entrepreneurs	
  and	
  the	
  many	
  
entrepreneurial	
  “experiments”	
  they	
  have	
  undertaken?	
  	
  To	
  ignore	
  this	
  wealth	
  of	
  knowledge	
  and	
  
expertise,	
  to	
  insist	
  that	
  entrepreneurship	
  is	
  an	
  art	
  learned	
  only	
  through	
  experience	
  is	
  to	
  ignore	
  the	
  
potential	
  to	
  develop	
  systematic	
  lessons,	
  to	
  ignore	
  the	
  power	
  of	
  analysis	
  and	
  to	
  fail	
  to	
  apply	
  to	
  tools	
  of	
  
social	
  science	
  to	
  a	
  critical	
  part	
  of	
  our	
  economy.	
  
We	
  at	
  MIT	
  are	
  engaged	
  in	
  this	
  process	
  of	
  systematizing	
  the	
  lessons	
  from	
  entrepreneurs	
  around	
  the	
  
world	
  especially	
  from	
  those	
  engaged	
  in	
  the	
  sorts	
  of	
  science	
  and	
  technology-­‐based	
  entrepreneurship	
  that	
  
can	
  lead	
  to	
  high	
  growth	
  and	
  job	
  creation	
  in	
  sectors	
  as	
  diverse	
  as	
  biotechnology	
  and	
  clean	
  energy.	
  
Recently,	
  we	
  were	
  asked	
  to	
  think	
  more	
  deeply	
  about	
  what	
  could	
  be	
  done	
  to	
  improve	
  Entrepreneurship	
  
Education	
  based	
  not	
  just	
  on	
  our	
  research	
  and	
  our	
  teaching	
  experience	
  at	
  MIT	
  but	
  from	
  what	
  we	
  
experienced	
  through	
  our	
  involvement	
  and	
  dialogue	
  with	
  dozens	
  of	
  other	
  institutions	
  providing	
  
education	
  experiences	
  for	
  students	
  with	
  entrepreneurial	
  aspirations	
  –	
  whether	
  they	
  hope	
  to	
  start	
  
companies	
  on	
  graduation,	
  later	
  in	
  their	
  careers	
  or	
  from	
  inside	
  large	
  corporations.	
  	
  	
  
A	
  group	
  of	
  us	
  at	
  MIT	
  deeply	
  associated	
  with	
  entrepreneurship	
  education,	
  after	
  considerable	
  discussion,	
  
have	
  drawn	
  on	
  lessons	
  we	
  have	
  learned	
  at	
  MIT	
  and	
  elsewhere	
  to	
  identify	
  a	
  list	
  of	
  ten	
  suggestions	
  for	
  
organizing	
  education	
  and	
  programs	
  in	
  this	
  area	
  at	
  university	
  campuses.	
  	
  While	
  at	
  first,	
  it	
  seems	
  simple,	
  
upon	
  further	
  reflection	
  the	
  list	
  of	
  ten	
  points	
  we	
  agreed	
  upon	
  was	
  anything	
  but;	
  it	
  is	
  a	
  mix	
  of	
  the	
  obvious	
  
and	
  (we	
  think)	
  the	
  not	
  so	
  obvious.	
  	
  We	
  believe	
  these	
  ten	
  steps,	
  many	
  of	
  them	
  requiring	
  educators	
  to	
  
look	
  well	
  beyond	
  the	
  walls	
  of	
  their	
  current	
  classroom,	
  have	
  the	
  potential	
  to	
  build	
  an	
  educational	
  
experience	
  that	
  produces	
  many	
  more	
  successful	
  high	
  impact	
  entrepreneurs.	
  	
  At	
  a	
  minimum,	
  by	
  laying	
  
out	
  our	
  approach	
  we	
  hope	
  to	
  engage	
  in	
  a	
  meaningful	
  dialogue	
  on	
  what	
  should	
  be	
  done	
  in	
  this	
  area	
  in	
  
order	
  to	
  meet	
  the	
  needs	
  of	
  our	
  increasingly	
  sophisticated	
  customers,	
  students	
  at	
  institutions	
  of	
  higher	
  
education,	
  and	
  to	
  meet	
  the	
  needs	
  of	
  our	
  economy	
  -­‐	
  job	
  creation	
  and	
  economic	
  prosperity.	
  	
  	
  
	
  
1. Make	
  the	
  Case	
  Why	
  Entrepreneurship	
  is	
  Important:	
  High	
  performance	
  organizations	
  aspire	
  to	
  
make	
  the	
  world	
  a	
  better	
  place	
  rather	
  than	
  simply	
  to	
  perform	
  a	
  task.	
  	
  Centers	
  of	
  
Entrepreneurship	
  Education	
  must	
  do	
  the	
  same.	
  	
  Entrepreneurship	
  is	
  not	
  just	
  another	
  course	
  in	
  
the	
  catalogue;	
  it	
  is	
  something	
  that	
  will	
  have	
  high	
  and	
  positive	
  impact	
  on	
  the	
  world	
  we	
  live	
  in.	
  	
  
Job	
  creation,	
  economic	
  prosperity	
  and	
  improvement	
  of	
  social	
  welfare	
  are	
  critical	
  goals	
  and	
  
entrepreneurship	
  is	
  a	
  catalyst	
  on	
  the	
  path	
  to	
  their	
  accomplishment.	
  	
  Educators	
  must	
  make	
  the	
  
case	
  for	
  the	
  importance	
  of	
  entrepreneurship	
  to	
  cities,	
  regions,	
  nations	
  and	
  continents.	
  	
  There	
  
are	
  plenty	
  of	
  reports	
  and	
  evidence	
  to	
  support	
  the	
  case	
  –	
  this	
  does	
  not	
  have	
  to	
  be	
  a	
  statement	
  of	
  
hope	
  it	
  can	
  be	
  a	
  statement	
  of	
  fact.	
  	
  The	
  Kauffman	
  Foundation	
  has	
  a	
  great	
  deal	
  of	
  data	
  to	
  support	
  
the	
  case.	
  	
  	
  Universities	
  around	
  the	
  nation	
  have	
  spun	
  out	
  companies	
  from	
  their	
  labs	
  and	
  created	
  
new	
  industries	
  and	
  new	
  jobs	
  –	
  Google,	
  Akami,	
  Biogen,	
  A123	
  to	
  name	
  a	
  few.	
  	
  At	
  MIT,	
  we	
  
conducted	
  our	
  own	
  study	
  released	
  authored	
  by	
  Professor	
  Edward	
  Roberts	
  and	
  PhD	
  Student	
  
Charles	
  Eesley,	
  which	
  showed	
  that	
  MIT	
  Alumni	
  are	
  entrepreneurs	
  –	
  they	
  create	
  200-­‐400	
  new	
  
companies	
  each	
  year.	
  	
  Just	
  to	
  put	
  this	
  into	
  perspective,	
  the	
  report	
  calculated	
  that	
  the	
  companies	
  
started	
  by	
  MIT	
  Alumni	
  who	
  are	
  still	
  alive	
  and	
  whose	
  the	
  companies	
  still	
  exist,	
  number	
  over	
  
twenty-­‐five	
  thousand	
  -­‐	
  their	
  combined	
  yearly	
  revenues	
  total	
  almost	
  US$2	
  trillion	
  which	
  if	
  it	
  were	
  
a	
  standalone	
  economy	
  would	
  put	
  it	
  just	
  behind	
  Brazil	
  and	
  neck	
  and	
  neck	
  with	
  Russia.	
  	
  
Entrepreneurship,	
  new	
  venture	
  creation	
  and	
  venture	
  growth	
  is	
  what	
  we	
  need	
  to	
  get	
  ensure	
  
future	
  prosperity.	
  	
  It	
  is	
  also	
  one	
  important	
  way	
  that	
  we	
  translate	
  the	
  valuable	
  research	
  we	
  do	
  
here	
  at	
  institutions	
  of	
  higher	
  learning	
  through	
  our	
  investments	
  in	
  science	
  and	
  engineering	
  to	
  the	
  
real	
  world.	
  	
  This	
  message	
  needs	
  to	
  be	
  clearly	
  communicated	
  to	
  all.	
  	
  ACTION:	
  	
  Educators	
  need	
  to	
  
gather	
  their	
  facts	
  and	
  make	
  the	
  	
  very	
  compelling	
  case	
  of	
  why	
  entrepreneurship	
  is	
  real,	
  real	
  
important.	
  	
  The	
  educator	
  must	
  then	
  work	
  to	
  educate	
  other	
  stakeholders	
  outside	
  the	
  classroom	
  
(i.e.,	
  proselytize)	
  to	
  achieve	
  the	
  steps	
  below.	
  
2. Tone	
  at	
  the	
  Top:	
  	
  For	
  any	
  organization	
  to	
  succeed	
  especially	
  when	
  it	
  seeks	
  to	
  change,	
  support	
  
from	
  the	
  top	
  of	
  the	
  organization	
  is	
  essential.	
  	
  It	
  is	
  no	
  different	
  at	
  institutions	
  of	
  higher	
  learning.	
  	
  
Probably	
  the	
  most	
  important	
  person	
  who	
  must	
  believe	
  in	
  the	
  compelling	
  case	
  you	
  develop	
  in	
  
Step	
  1	
  above,	
  is	
  the	
  President	
  of	
  your	
  college	
  or	
  university.	
  	
  Without	
  their	
  support	
  your	
  impact	
  
will	
  be	
  limited.	
  	
  Therefore	
  you	
  must	
  have	
  a	
  plan	
  to	
  win	
  their	
  support	
  and	
  gather	
  the	
  necessary	
  
resources	
  to	
  build	
  the	
  Entrepreneurial	
  Education	
  platform	
  you	
  need.	
  	
  The	
  university	
  president	
  
does	
  not	
  have	
  to	
  be	
  an	
  entrepreneur,	
  for	
  example,	
  MIT	
  President	
  Hockfield	
  is	
  not	
  an	
  
entrepreneur	
  but	
  she	
  understands	
  the	
  importance	
  of	
  entrepreneurship	
  as	
  an	
  element	
  of	
  the	
  
broader	
  educational	
  experience.	
  	
  The	
  leader	
  of	
  the	
  institution	
  does	
  not	
  have	
  to	
  be	
  actively	
  
involved	
  but	
  the	
  tone	
  setting	
  that	
  this	
  person	
  does	
  is	
  critical.	
  	
  University	
  leadership	
  may	
  be	
  
ambivalent	
  	
  and	
  this	
  can	
  be	
  crippling.	
  In	
  most	
  universities	
  (MIT	
  included)	
  some	
  faculty	
  are	
  
openly	
  hostile	
  to	
  entrepreneurship	
  regarding	
  it	
  as	
  a	
  corruption	
  of	
  the	
  pure	
  mission	
  of	
  their	
  
institution	
  of	
  higher	
  learning	
  –something	
  unteachable	
  or	
  a	
  set	
  of	
  stories	
  that	
  don’t	
  match	
  the	
  
rigorous	
  traditional	
  discipline-­‐based	
  courses.	
  	
  Resolution	
  of	
  this	
  issue,	
  building	
  an	
  evidence-­‐
based	
  case	
  for	
  the	
  role	
  of	
  entrepreneurship	
  in	
  the	
  economy	
  and	
  for	
  the	
  rigorous	
  lessons	
  we	
  
have	
  about	
  entrepreneurship	
  	
  is	
  key.	
  	
  This	
  is	
  an	
  activity	
  that	
  requires	
  faculty	
  and	
  practitioners	
  to	
  
work	
  together	
  and	
  can	
  be	
  a	
  complex	
  undertaking	
  but	
  no	
  bottom-­‐up	
  curriculum	
  effort	
  will	
  
overcome	
  indifference	
  at	
  the	
  top.	
  	
  ACTION:	
  	
  Educators	
  need	
  to	
  educate	
  the	
  leaders	
  of	
  their	
  
institution	
  about	
  the	
  benefits	
  of	
  entrepreneurial	
  education	
  based	
  on	
  real	
  evidence	
  and	
  jointly	
  
develop	
  a	
  plan	
  for	
  its	
  role	
  on	
  campus.	
  	
  Outside	
  resources	
  (e.g.,	
  alumni,	
  other	
  institutions,	
  
Kauffman	
  Foundations)	
  should	
  be	
  used	
  if	
  helpful	
  to	
  help	
  make	
  this	
  case.	
  	
  Real	
  and	
  visible	
  
support	
  (e.g.,	
  quote	
  for	
  brochures	
  &	
  website,	
  regular	
  briefings,	
  support	
  for	
  cross-­‐campus	
  
programs,	
  and	
  attendance	
  at	
  events/programs)	
  is	
  essential	
  for	
  meaningful	
  impact	
  to	
  be	
  
achieved.	
  
3. What	
  Type	
  of	
  Entrepreneurship?	
  	
  The	
  Need	
  to	
  Collaborate	
  and	
  Focus:	
  	
  Each	
  of	
  our	
  institutions	
  
has	
  finite	
  resources	
  and	
  like	
  any	
  entrepreneurial	
  enterprise,	
  we	
  have	
  to	
  be	
  very	
  intelligent	
  about	
  
how	
  we	
  deploy	
  them.	
  	
  Entrepreneurship,	
  while	
  very	
  alluring,	
  is	
  an	
  incredibly	
  broad	
  category	
  and	
  
has	
  many	
  different	
  areas	
  each	
  of	
  which	
  require	
  a	
  substantially	
  different	
  educational	
  focus.	
  	
  
While	
  it	
  is	
  important	
  to	
  experiment	
  with	
  your	
  offerings,	
  you	
  need	
  a	
  strategic	
  goal	
  for	
  your	
  
education.	
  	
  For	
  instance	
  at	
  MIT,	
  based	
  on	
  our	
  core	
  strengths,	
  we	
  have	
  chosen	
  to	
  focus	
  our	
  
efforts	
  and	
  resources	
  on	
  science	
  and	
  technology	
  enabled	
  innovation-­‐based	
  entrepreneurship.	
  	
  
While	
  we	
  do	
  not	
  do	
  this	
  to	
  the	
  complete	
  exclusion	
  of	
  brand-­‐centric,	
  family,	
  social,	
  franchise,	
  
retail,	
  corporate	
  or	
  many	
  other	
  types	
  of	
  entrepreneurship	
  like	
  any	
  business	
  we	
  need	
  to	
  focus	
  
and	
  concentrate	
  our	
  resources	
  if	
  we	
  want	
  to	
  produce	
  excellence.	
  	
  Yes	
  all	
  of	
  the	
  varieties	
  of	
  
entrepreneurship	
  should	
  be	
  valued	
  and	
  many	
  are	
  vital	
  drivers	
  of	
  job	
  creation,	
  economic	
  
prosperity	
  and	
  social	
  welfare.	
  	
  But	
  institutions	
  must	
  determine	
  the	
  best	
  fit	
  for	
  them	
  given	
  their	
  
students,	
  their	
  alumni,	
  the	
  region	
  and	
  its	
  economic	
  base	
  and	
  the	
  aspirations	
  of	
  institutions.	
  	
  	
  In	
  
this	
  model,	
  the	
  benefits	
  of	
  open	
  and	
  honest	
  dialogue	
  among	
  regional	
  players	
  to	
  collaboratively	
  
determine	
  each	
  institution’s	
  focus	
  within	
  the	
  broad	
  area	
  of	
  entrepreneurship	
  become	
  
abundantly	
  clear.	
  	
  ACTION:	
  	
  Set	
  up	
  regional	
  workgroups	
  of	
  entrepreneurial	
  educators	
  to	
  discuss	
  
collaboration	
  amongst	
  universities	
  what	
  each	
  institution’s	
  primary	
  area	
  of	
  expertise	
  to	
  avoid	
  
duplication.	
  	
  Institutions	
  could	
  then	
  concentrate	
  on	
  specific	
  areas	
  to	
  develop	
  deep	
  expertise	
  to	
  
benefit	
  their	
  students	
  and	
  the	
  region.	
  	
  	
  
4. Curriculum	
  Road	
  Map	
  Leading	
  to	
  Type	
  and	
  Industry	
  Specialization:	
  	
  Once	
  the	
  institution	
  has	
  
decided	
  on	
  the	
  focus	
  of	
  its	
  entrepreneurial	
  education,	
  it	
  must	
  determine	
  the	
  key	
  skills	
  and	
  
critical	
  industries	
  of	
  interest.	
  	
  This	
  will	
  guide	
  the	
  educators	
  in	
  developing	
  a	
  curriculum	
  that	
  be	
  
cumulative	
  –	
  lessons	
  from	
  course	
  building	
  on	
  one	
  another	
  to	
  provide	
  a	
  deep	
  and	
  enduring	
  
educational	
  experience.	
  	
  While	
  entrepreneurship	
  may	
  have	
  the	
  perception	
  of	
  being	
  similar	
  
across	
  many	
  fields	
  (and	
  there	
  are	
  common	
  truths	
  and	
  skills),	
  this	
  is	
  not	
  true	
  and	
  become	
  even	
  
less	
  so	
  as	
  time	
  progresses.	
  	
  At	
  the	
  base	
  of	
  the	
  curriculum	
  can	
  come	
  a	
  set	
  of	
  general	
  skills	
  
(specific	
  to	
  entrepreneurial	
  settings)	
  -­‐entrepreneurial	
  strategy,	
  entrepreneurial	
  product	
  
marketing,	
  sales	
  &	
  communications,	
  entrepreneurial	
  finance,	
  human	
  resources	
  for	
  small	
  early-­‐
stage	
  organizations	
  etc.).	
  But,	
  to	
  be	
  productive	
  in	
  the	
  real	
  world,	
  another	
  layer	
  of	
  specialization	
  
must	
  be	
  added.	
  	
  It	
  is	
  imperative	
  to	
  provide	
  expertise	
  relevant	
  to	
  your	
  type	
  of	
  entrepreneurship	
  
be	
  it	
  social,	
  family,	
  franchise,	
  technology,	
  B2B,	
  B2C,	
  corporate	
  or	
  other.	
  	
  These	
  have	
  different	
  
models	
  and	
  second	
  level	
  fundamentals.	
  	
  In	
  addition,	
  to	
  be	
  productive,	
  the	
  student	
  should	
  have	
  
industry	
  specific	
  expertise	
  to	
  be	
  successful	
  in	
  areas	
  like	
  software,	
  web,	
  biotech,	
  clean	
  energy,	
  
water,	
  retail	
  to	
  name	
  a	
  few.	
  	
  The	
  world	
  is	
  much	
  more	
  complex	
  and	
  building	
  entrepreneurs	
  –	
  
actually	
  teams	
  of	
  entrepreneurs	
  to	
  be	
  more	
  accurate	
  –	
  that	
  have	
  the	
  domain	
  expertise	
  in	
  their	
  
specific	
  type	
  of	
  entrepreneurship	
  and	
  their	
  target	
  industry	
  makes	
  them	
  much	
  more	
  effective.	
  	
  
Developing	
  a	
  multilevel	
  curriculum	
  that	
  starts	
  with	
  introductory	
  courses	
  but	
  allows	
  the	
  students	
  
to	
  advance	
  into	
  courses	
  that	
  offer	
  a	
  deeper	
  dive	
  into	
  specific	
  skills	
  and	
  industries	
  is	
  the	
  formula	
  
we	
  use	
  to	
  make	
  our	
  students	
  more	
  successful.	
  	
  ACTION:	
  	
  Educators	
  should	
  develop	
  a	
  multilevel	
  
curriculum	
  that	
  starts	
  with	
  introductory	
  courses	
  but	
  allows	
  the	
  students	
  to	
  advance	
  into	
  
courses	
  that	
  offer	
  a	
  deeper	
  dive	
  into	
  specific	
  skills	
  and	
  industries.	
  	
  This	
  is	
  a	
  formula	
  to	
  make	
  
our	
  students	
  more	
  successful.	
  
5. Combining	
  Academics	
  and	
  Practitioners	
  in	
  the	
  Class	
  Room:	
  	
  The	
  motto	
  of	
  MIT	
  “Mens	
  et	
  Manus”	
  
(literally	
  translated	
  meaning	
  mind	
  and	
  hand)	
  is	
  omnipresent	
  in	
  the	
  air	
  at	
  MITand	
  is	
  well	
  
summarized	
  by	
  the	
  iconic	
  image	
  of	
  the	
  philosopher	
  and	
  the	
  iron	
  worker	
  standing	
  side	
  by	
  side	
  in	
  
the	
  traditional	
  MIT	
  logo.	
  	
  	
  While	
  most	
  universities	
  building	
  entrepreneurial	
  education	
  cannot	
  call	
  
upon	
  such	
  a	
  convenient	
  local	
  motive	
  to	
  remind	
  them	
  of	
  the	
  power	
  of	
  combining	
  of	
  academic	
  
rigor	
  with	
  the	
  practical	
  application,	
  this	
  is	
  nonetheless	
  critically	
  important.	
  	
  While	
  MIT	
  has	
  
championed	
  the	
  use	
  of	
  practitioners	
  in	
  the	
  class	
  room	
  with	
  great	
  results,	
  it	
  is	
  imperative	
  to	
  
maintain	
  a	
  proper	
  balance.	
  	
  Academics	
  with	
  social	
  science	
  training	
  in	
  economics,	
  management	
  
and	
  sociology	
  who	
  focus	
  on	
  understanding	
  the	
  drivers	
  and	
  consequences	
  of	
  entrepreneurship	
  
are	
  critical	
  partners	
  in	
  entrepreneurial	
  education	
  and	
  are	
  in	
  short	
  supply.	
  	
  We	
  greatly	
  value	
  our	
  
excellent	
  practitioners	
  and	
  our	
  strong	
  academic	
  instructors.	
  	
  And,	
  when	
  given	
  equal	
  standing	
  in	
  
the	
  classroom	
  the	
  students	
  benefit	
  greatly	
  from	
  the	
  dual	
  perspectives.	
  Today,	
  we	
  have	
  plenty	
  of	
  
the	
  former	
  and	
  too	
  few	
  of	
  the	
  latter.	
  	
  We	
  have	
  a	
  hard	
  time	
  filling	
  spots	
  we	
  have	
  for	
  academic	
  
tenure	
  track	
  professors	
  of	
  entrepreneurship	
  while	
  maintaining	
  our	
  standards	
  of	
  excellence.	
  	
  To	
  
fill	
  this	
  void	
  with	
  practitioners	
  is	
  sub-­‐optimal.	
  	
  Data	
  is	
  not	
  the	
  plural	
  of	
  anecdotes	
  and	
  while	
  
students	
  do	
  like	
  to	
  hear	
  stories,	
  it	
  is	
  our	
  duty	
  to	
  ensure	
  that	
  what	
  the	
  foundations	
  of	
  
entrepreneurial	
  education	
  are	
  based	
  on	
  rigorous	
  research	
  not	
  simply	
  anecdotes	
  from	
  famous	
  
successful	
  alumni.	
  	
  There	
  are	
  numerous	
  examples	
  of	
  the	
  insights	
  from	
  serious	
  research	
  being	
  
brought	
  into	
  the	
  classroom.	
  	
  One	
  is	
  the	
  myth	
  of	
  the	
  singular	
  mercurial	
  entrepreneur	
  creating	
  
companies.	
  	
  Research	
  shows	
  that	
  this	
  is	
  not	
  the	
  case,	
  that	
  in	
  fact	
  the	
  larger	
  the	
  team	
  the	
  more	
  
likely	
  the	
  odds	
  of	
  success	
  in	
  an	
  innovation-­‐based	
  new	
  venture.	
  	
  The	
  factors	
  influencing	
  women	
  
to	
  enter	
  entrepreneurship	
  have	
  also	
  been	
  the	
  subject	
  of	
  serious	
  analysis	
  that	
  can	
  be	
  brought	
  to	
  
bear	
  in	
  the	
  classroom.	
  There	
  are	
  countless	
  more	
  examples	
  but	
  the	
  point	
  is	
  simple	
  –	
  we	
  need	
  
both	
  academics	
  who	
  do	
  rigorous	
  research	
  in	
  this	
  entrepreneurship	
  and	
  practitioners	
  who	
  start,	
  
build	
  and	
  fund	
  entrepreneurial	
  companies	
  to	
  create	
  the	
  successful	
  “mens	
  et	
  manus”	
  educational	
  
balance	
  we	
  have	
  achieved	
  here	
  at	
  MIT.	
  	
  Towards	
  this	
  end,	
  we	
  need	
  to	
  relook	
  at	
  how	
  we	
  are	
  
generating	
  a	
  pipeline	
  of	
  social	
  scientists	
  studying	
  entrepreneurship	
  and	
  integrate	
  them	
  into	
  the	
  
educational	
  process.	
  	
  ACTION:	
  	
  Educators	
  should	
  recognize	
  entrepreneurship	
  as	
  a	
  serious	
  field	
  
of	
  scholarship	
  and	
  ensure	
  that	
  research	
  is	
  integrated	
  into	
  the	
  curriculum.	
  	
  A	
  dual	
  teaching	
  
approach	
  to	
  course	
  development	
  and	
  teaching	
  that	
  combines	
  academics	
  and	
  practitioners	
  
should	
  be	
  attained	
  whenever	
  possible	
  and	
  always	
  sought	
  after.	
  	
  To	
  reduce	
  the	
  shortage	
  of	
  
good	
  academics	
  in	
  this	
  area,	
  developing	
  a	
  pipeline	
  of	
  entrepreneurship	
  research	
  and	
  people	
  
capable	
  of	
  doing	
  research	
  and	
  ultimately	
  teaching	
  should	
  also	
  be	
  a	
  priority	
  and	
  such	
  a	
  policy	
  
should	
  be	
  advocated	
  within	
  the	
  university	
  as	
  well	
  as	
  in	
  the	
  government.	
  
6. Cross	
  Campus	
  Collaboration	
  to	
  Produce	
  Hybrid	
  Vigor:	
  	
  Great	
  entrepreneurship	
  (at	
  least	
  
innovation-­‐based	
  entrepreneurship)	
  requires	
  new	
  thinking	
  and	
  this	
  arises	
  from	
  heterogeneous	
  
teams	
  working	
  in	
  complex	
  environments.	
  	
  Different	
  perspectives	
  on	
  a	
  problem	
  or	
  opportunity	
  
must	
  be	
  sought	
  and	
  incorporated.	
  	
  As	
  such	
  it	
  is	
  not	
  surprising	
  that	
  successful	
  entrepreneurial	
  
ventures	
  most	
  often	
  have	
  a	
  multidisciplinary	
  team	
  at	
  their	
  core.	
  	
  What	
  does	
  this	
  mean	
  for	
  
entrepreneurial	
  education?	
  At	
  MIT	
  our	
  success	
  comes	
  in	
  large	
  part	
  from	
  our	
  ability	
  to	
  create	
  
educational	
  experiences	
  for	
  teams	
  of	
  students	
  from	
  the	
  different	
  schools.	
  	
  This	
  is	
  especially	
  true	
  
across	
  the	
  schools	
  of	
  engineering,	
  science	
  and	
  management.	
  	
  By	
  bringing	
  together	
  the	
  
technologists	
  (a/k/a	
  “geeks”)	
  and	
  the	
  business	
  people	
  (a/k/a	
  “suits”)	
  in	
  a	
  setting	
  that	
  seeks	
  to	
  
build	
  	
  mutual	
  respect	
  and	
  mutual	
  understanding	
  	
  -­‐-­‐	
  a	
  sort	
  of	
  bilingualness	
  (or	
  at	
  least	
  pigeon)	
  –	
  
we	
  better	
  prepare	
  our	
  students	
  to	
  operate	
  effectively	
  in	
  entrepreneurial	
  teams.	
  	
  This	
  is	
  in	
  fact	
  is	
  
one	
  of	
  the	
  fundamental	
  roles	
  of	
  the	
  MIT	
  Entrepreneurship	
  Center	
  -­‐	
  	
  to	
  be	
  the	
  connective	
  tissue	
  
between	
  these	
  multiple	
  worlds.	
  	
  	
  Entrepreneurship	
  education	
  needs	
  to	
  be	
  seen	
  as	
  cross	
  
disciplinary	
  and	
  not	
  just	
  the	
  purview	
  of	
  a	
  single	
  school	
  –	
  otherwise	
  you	
  will	
  end	
  up	
  missing	
  the	
  
incredible	
  value	
  of	
  hybrid	
  vigor	
  which	
  historically	
  has	
  been	
  a	
  vital	
  source	
  of	
  new	
  DNA	
  resulting	
  in	
  
major	
  successes	
  in	
  this	
  field.	
  	
  ACTION:	
  	
  Courses	
  should	
  be	
  designed	
  and	
  marketed	
  to	
  draw	
  
students	
  from	
  many	
  different	
  backgrounds.	
  	
  At	
  least	
  some	
  of	
  the	
  courses	
  should	
  have	
  active	
  
projects	
  which	
  require	
  students	
  working	
  together.	
  	
  Entrepreneurship	
  Education	
  should	
  not	
  be	
  
seen	
  as	
  the	
  responsibility	
  of	
  one	
  school	
  for	
  one	
  school	
  but	
  rather	
  a	
  cross	
  campus	
  collaborative	
  
initiative.	
  
7. 	
  Build	
  an	
  Ecosystem	
  of	
  Experiences	
  to	
  Foster	
  and	
  Grow	
  Class	
  Room	
  Developed	
  Skills:	
  	
  A	
  class	
  
room	
  does	
  not	
  exist	
  in	
  a	
  vacuum	
  nor	
  does	
  a	
  university	
  exist	
  on	
  its	
  own.	
  	
  The	
  value	
  of	
  an	
  
ecosystem	
  is	
  a	
  vital	
  part	
  of	
  the	
  promoting	
  effective	
  entrepreneurial	
  education	
  as	
  demonstrated	
  
in	
  the	
  MIT	
  and	
  Kauffman	
  “Entrepreneurial	
  Impact:	
  The	
  Role	
  of	
  MIT”	
  Report.	
  	
  This	
  study	
  shows	
  
the	
  enormous	
  leverage	
  gained	
  when	
  education	
  in	
  the	
  class	
  room	
  is	
  put	
  to	
  use	
  immediately	
  and	
  
in	
  an	
  interactive	
  way	
  outside	
  the	
  class	
  room	
  directly	
  with	
  the	
  real	
  world.	
  	
  The	
  comprehensive	
  
assortment	
  of	
  student	
  clubs,	
  activities,	
  ,	
  conferences,	
  internships,	
  alumni	
  organizations	
  and	
  
action	
  learning	
  opportunities	
  both	
  make	
  the	
  class	
  room	
  learning	
  real	
  but	
  also	
  motivate	
  the	
  
student.	
  	
  This	
  has	
  led	
  to	
  our	
  strategy	
  simply	
  stated	
  as	
  “Educate-­‐Nurture-­‐Network-­‐Celebrate-­‐
Research”	
  -­‐	
  codified	
  after	
  we	
  realized	
  that	
  what	
  we	
  were	
  doing	
  was	
  much	
  more	
  than	
  educate.	
  	
  
The	
  education	
  really	
  comes	
  to	
  life	
  in	
  the	
  extracurricular	
  internships,	
  competitions,	
  conferences	
  
and	
  other	
  activities	
  which	
  create	
  the	
  vibrant	
  environment	
  for	
  experimenting	
  with	
  different	
  
elements	
  of	
  entrepreneurship	
  and	
  gaining	
  experience	
  applying	
  the	
  lessons	
  learned	
  in	
  the	
  class	
  
room.	
  While	
  some	
  of	
  these	
  elements	
  of	
  the	
  ecosystem	
  were	
  developed	
  by	
  faculty	
  many	
  are	
  
student	
  driven	
  or	
  have	
  been	
  spurred	
  by	
  ideas	
  and	
  engagement	
  from	
  alumni.	
  	
  ACTION:	
  	
  
Educators	
  should	
  design	
  and	
  help	
  develop	
  an	
  ecosystem	
  for	
  entrepreneurship	
  on	
  the	
  campus	
  
and	
  within	
  the	
  local	
  community.	
  	
  Investments	
  of	
  time	
  and	
  money	
  should	
  be	
  made	
  to	
  initially	
  
create	
  the	
  ecosystem	
  but	
  students	
  must	
  play	
  a	
  critical	
  part	
  in	
  its	
  evolution	
  and	
  ongoing	
  
sustainability.	
  	
  	
  
8. Include	
  an	
  Entrepreneurial	
  Sales	
  Course	
  in	
  the	
  Curriculum:	
  	
  While	
  not	
  wanting	
  to	
  micromanage	
  
your	
  curriculum,	
  we	
  believe	
  that	
  it	
  is	
  critical	
  to	
  teach	
  sales	
  as	
  part	
  of	
  an	
  Entrepreneurship	
  
Education	
  curriculum.	
  The	
  entire	
  purpose	
  of	
  a	
  business,	
  particularly	
  an	
  entrepreneurial	
  start-­‐up	
  
with	
  no	
  deep	
  pockets	
  and	
  patient	
  funding	
  source,	
  is	
  to	
  provide	
  value	
  for	
  a	
  group	
  of	
  customers	
  
and	
  get	
  paid	
  enough	
  such	
  that	
  the	
  new	
  venture	
  makes	
  money	
  and	
  does	
  so	
  in	
  a	
  sustainable	
  way.	
  	
  
We	
  do	
  not	
  spend	
  enough	
  time	
  in	
  Entrepreneurial	
  Education	
  teaching	
  our	
  students	
  how	
  to	
  
understand,	
  learn	
  from,	
  listen	
  to	
  and	
  talk	
  to	
  customers	
  and	
  ultimately	
  how	
  to	
  close	
  a	
  deal	
  with	
  
them	
  –	
  i.e.,	
  separate	
  them	
  from	
  some	
  money	
  –	
  when	
  it	
  comes	
  to	
  the	
  companies	
  with	
  novel	
  
products.	
  	
  This	
  is	
  one	
  of	
  the	
  most	
  fundamental	
  skills	
  of	
  an	
  entrepreneur	
  must	
  possess.	
  	
  Perhaps	
  
because	
  it	
  is	
  more	
  manus	
  than	
  mens,	
  it	
  has	
  traditionally	
  had	
  little	
  or	
  no	
  place	
  within	
  the	
  
university.	
  	
  Today,	
  this	
  is	
  exacerbated	
  by	
  the	
  fact	
  that	
  many	
  of	
  the	
  companies	
  who	
  used	
  to	
  train	
  
young	
  people	
  in	
  this	
  skill	
  through	
  extensive	
  in-­‐house	
  programs	
  no	
  longer	
  do	
  so.	
  	
  Sales	
  education	
  
and	
  training	
  has	
  a	
  poor	
  perception	
  amongst	
  most	
  academics	
  and	
  it	
  is	
  believed	
  to	
  run	
  counter	
  to	
  
what	
  academic	
  institutions	
  what	
  to	
  be	
  associated	
  with.	
  	
  But	
  if	
  we	
  ignore	
  this	
  critical	
  skill,	
  we	
  are	
  
doing	
  our	
  students	
  a	
  significant	
  disservice	
  to	
  them	
  by	
  not	
  teaching	
  it.	
  	
  When	
  placed	
  in	
  the	
  
context	
  of	
  a	
  broad	
  and	
  well-­‐designed	
  curriculum,	
  a	
  sales	
  course	
  has	
  an	
  important	
  place	
  and	
  can	
  
enable	
  the	
  creation	
  of	
  truly	
  comprehensive	
  entrepreneurship	
  education.	
  ACTION:	
  	
  Teach	
  
entrepreneurial	
  sales	
  at	
  university	
  level	
  immediately.	
  	
  Money	
  should	
  be	
  spent	
  to	
  develop	
  a	
  
curriculum	
  at	
  a	
  national	
  level	
  and	
  then	
  made	
  available	
  to	
  colleges	
  and	
  universities.	
  
9. Spirit	
  is	
  as	
  Important	
  as	
  Skills:	
  	
  While	
  we	
  strive	
  to	
  provide	
  skills	
  training	
  in	
  the	
  class	
  room	
  that	
  
will	
  fully	
  prepare	
  our	
  students	
  to	
  be	
  successful	
  entrepreneurs	
  when	
  the	
  time	
  is	
  right	
  in	
  their	
  
careers,	
  we	
  know	
  that	
  undertaking	
  the	
  challenge	
  of	
  an	
  entrepreneurship-­‐oriented	
  career	
  is	
  a	
  
mindset	
  as	
  well.	
  	
  Since	
  they	
  must	
  do	
  what	
  others	
  have	
  not	
  done	
  before,	
  we	
  must	
  get	
  them	
  
comfortable	
  with	
  experimentation	
  which	
  involves	
  failure	
  and	
  most	
  importantly,	
  learning	
  from	
  
failure.	
  	
  We	
  must	
  set	
  a	
  tone	
  that	
  is	
  accepting	
  of	
  failure	
  as	
  an	
  integral	
  part	
  of	
  the	
  learning	
  
process.	
  	
  As	
  mentioned	
  above	
  in	
  #7	
  (“Context”),	
  we	
  actively	
  design	
  an	
  ecosystem	
  that	
  provides	
  
opportunities	
  for	
  experimentation	
  in	
  the	
  safety	
  of	
  the	
  educational	
  institution	
  with	
  competitions,	
  
“laboratories”	
  and	
  simulations.	
  	
  Our	
  range	
  of	
  “Action-­‐learning’	
  entrepreneurial	
  experiences	
  
include	
  working	
  on	
  projects	
  to	
  assess	
  the	
  commercial	
  potential	
  of	
  real	
  ideas	
  developed	
  by	
  
leading	
  science	
  and	
  engineering	
  faculty,	
  to	
  working	
  on	
  pressing	
  problems	
  of	
  local	
  entrepreneurs	
  
as	
  part	
  of	
  an	
  “E(ntrepreneurship)	
  Laboratory”.	
  	
  People	
  who	
  take	
  risks	
  and	
  learn	
  in	
  these	
  settings	
  
and	
  in	
  the	
  student	
  run	
  competitions	
  and	
  clubs	
  in	
  an	
  intelligent	
  manner	
  are	
  celebrated	
  with	
  
awards,	
  special	
  assignments,	
  public	
  relations	
  articles	
  and	
  exposure	
  through	
  the	
  institutions	
  
digital	
  communications	
  platforms	
  (i.e.,	
  web	
  site	
  and	
  other	
  social	
  media)	
  in	
  recognition	
  of	
  their	
  
efforts,	
  milestones	
  and,	
  maybe	
  even,	
  success.	
  	
  We	
  look	
  to	
  make	
  our	
  entrepreneurs	
  feel	
  like	
  rock	
  
stars	
  and	
  encourage	
  entrepreneurial	
  behavior	
  –	
  and	
  part	
  of	
  our	
  larger	
  dynamic	
  and	
  growing	
  
community.	
  	
  ACTION:	
  	
  Institutions	
  should	
  allocate	
  money	
  and	
  resources	
  to	
  have	
  an	
  active	
  
program	
  to	
  celebrate	
  its	
  students	
  who	
  effectively	
  apply	
  the	
  lessons	
  learned	
  in	
  the	
  class	
  room	
  
whether	
  they	
  succeed	
  or	
  not.	
  	
  Encourage	
  educators	
  to	
  include	
  entrepreneurs	
  who	
  have	
  
“failed”	
  once	
  but	
  succeeded	
  later	
  to	
  be	
  included	
  in	
  the	
  course	
  and	
  have	
  them	
  talk	
  frankly	
  
about	
  the	
  role	
  of	
  failure	
  and	
  the	
  joys	
  of	
  success.	
  
10. Bias	
  to	
  Action	
  and	
  Practicing	
  What	
  We	
  Preach	
  -­‐	
  Experimentation:	
  	
  Studies	
  have	
  shown	
  that	
  
successful	
  innovators	
  and	
  entrepreneurs	
  have	
  a	
  bias	
  to	
  action	
  and	
  are	
  quick	
  to	
  experiment	
  as	
  
the	
  most	
  effective	
  form	
  of	
  learning.	
  	
  It	
  is	
  clear	
  that	
  over	
  analysis	
  stifles	
  entrepreneurship	
  and	
  
instead	
  organizations	
  would	
  be	
  better	
  off	
  trying	
  small	
  experiments	
  with	
  limited	
  exposure	
  rather	
  
than	
  attempting	
  to	
  determine	
  the	
  perfect	
  outcome	
  before	
  they	
  act.	
  	
  	
  So	
  why	
  don’t	
  we	
  apply	
  this	
  
to	
  ourselves	
  in	
  Entrepreneurship	
  Education?	
  	
  Eleanor	
  Roosevelt	
  once	
  said,	
  “Do	
  one	
  thing	
  every	
  
day	
  that	
  scares	
  you.”	
  	
  With	
  that	
  in	
  mind,	
  each	
  semester	
  we	
  try	
  an	
  educational	
  experiment,	
  
modeling	
  the	
  behavior	
  we	
  want	
  to	
  see	
  in	
  our	
  students.	
  	
  We	
  experiment	
  with	
  the	
  market	
  (which	
  
students),	
  the	
  technology	
  (the	
  content)	
  and	
  the	
  business	
  model	
  (modes	
  of	
  delivery).	
  	
  This	
  allows	
  
us	
  to	
  learn	
  but	
  it	
  can	
  only	
  be	
  a	
  successful	
  way	
  of	
  learning	
  if	
  we	
  can	
  be	
  as	
  rigorous	
  in	
  stopping	
  as	
  
we	
  are	
  in	
  starting.	
  	
  These	
  experiments,	
  like	
  the	
  one	
  we	
  launched	
  to	
  explore	
  opportunities	
  in	
  
natural	
  gas,	
  can	
  be	
  as	
  challenging	
  as	
  they	
  are	
  exciting	
  but	
  if	
  we	
  until	
  we	
  have	
  all	
  the	
  data	
  about	
  
student	
  interest	
  and	
  intellectual	
  content	
  the	
  window	
  of	
  opportunity	
  would	
  have	
  closed.	
  	
  Some	
  
of	
  these	
  experiments	
  built	
  on	
  a	
  foundation	
  of	
  a	
  rigorous	
  and	
  well	
  designed	
  curriculum	
  and	
  
course	
  roadmap	
  keep	
  us	
  on	
  our	
  toes,	
  make	
  our	
  work	
  exciting	
  and	
  show	
  that	
  we	
  are	
  willing	
  to	
  
walk	
  the	
  talk	
  when	
  it	
  comes	
  to	
  experimentation.	
  	
  ACTION:	
  	
  Institutions	
  of	
  higher	
  education	
  set	
  
a	
  goal	
  to	
  have	
  one	
  course	
  each	
  year	
  to	
  experiment	
  with	
  a	
  new	
  emerging	
  area	
  or	
  skill	
  –	
  
understanding	
  that	
  it	
  will	
  be	
  unlike	
  the	
  other	
  more	
  well	
  defined	
  classes.	
  	
  	
  
	
  
Whether	
  you	
  agree	
  or	
  disagree	
  with	
  our	
  perspective,	
  we	
  have	
  succeeded	
  if	
  we	
  have	
  convinced	
  you	
  that	
  
entrepreneurship	
  education	
  is	
  a	
  meaningful	
  activity	
  and	
  not	
  an	
  oxymoron.	
  	
  We	
  will	
  have	
  succeeded	
  if	
  
you	
  think	
  a	
  little	
  more	
  carefully	
  about	
  how	
  to	
  improve	
  entrepreneurship	
  education.	
  	
  And	
  we	
  will	
  have	
  
succeeded	
  if	
  you	
  are	
  inspired	
  to	
  join	
  this	
  conversation	
  with	
  us.	
  	
  Any	
  improvement	
  in	
  this	
  area	
  will	
  have	
  
enormous	
  positive	
  impact	
  going	
  forward	
  and	
  while	
  we	
  might	
  debate	
  the	
  details	
  of	
  the	
  ten	
  points	
  above,	
  
we	
  can	
  all	
  agree	
  that	
  the	
  imperative	
  to	
  improve	
  education	
  in	
  this	
  area	
  is	
  as	
  essential	
  as	
  it	
  is	
  
entrepreneurial.	
  	
  	
  
	
  
	
  
	
  
	
  

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Article on 10 steps to improve entrepreneurship education

  • 1. Ten  Steps  to  Improve  Entrepreneurship  Education   By  Bill  Aulet  (Managing  Director,  MIT  Entrepreneurship  Center  &  Senior  Lecturer,  MIT  Sloan   School  of  Management)  &  Fiona  Murray  (Sarofin  Family  Career  Development  Professor,  MIT   Sloan  School  of  Management  &  Associate  Director,  MIT  Entrepreneurship  Center)   (Article/  Short  White  Paper)     Entrepreneurs  and  educators  agree  on  two  fundamental  points.    The  first  is  so  obvious  that  it  hardly   bears  repeating  but  let’s  restate  it  anyway  –  entrepreneurship  is  very,  very  important.    Entrepreneurs   are  the  critical  driver  of  job  creation  and  economic  prosperity.    The  second  is  equally  important  and   often  left  unspoken  and  that  is  that  academic  institutions  can  and  should  play  a  more  central  role  in   improving  the  quality  and  quantity  of  entrepreneurs.  While  many  conversations  we  have  on  this  topic   start  by  someone  asking  whether  entrepreneurship  can  be  taught,  they  typically  end  with  an   impassioned  discussion  on  how  to  improve  entrepreneurship  education  in  the  United  States  and  around   the  world.    Why  not  learn  lessons  from  successful  and  failed  entrepreneurs  and  the  many   entrepreneurial  “experiments”  they  have  undertaken?    To  ignore  this  wealth  of  knowledge  and   expertise,  to  insist  that  entrepreneurship  is  an  art  learned  only  through  experience  is  to  ignore  the   potential  to  develop  systematic  lessons,  to  ignore  the  power  of  analysis  and  to  fail  to  apply  to  tools  of   social  science  to  a  critical  part  of  our  economy.   We  at  MIT  are  engaged  in  this  process  of  systematizing  the  lessons  from  entrepreneurs  around  the   world  especially  from  those  engaged  in  the  sorts  of  science  and  technology-­‐based  entrepreneurship  that   can  lead  to  high  growth  and  job  creation  in  sectors  as  diverse  as  biotechnology  and  clean  energy.   Recently,  we  were  asked  to  think  more  deeply  about  what  could  be  done  to  improve  Entrepreneurship   Education  based  not  just  on  our  research  and  our  teaching  experience  at  MIT  but  from  what  we   experienced  through  our  involvement  and  dialogue  with  dozens  of  other  institutions  providing   education  experiences  for  students  with  entrepreneurial  aspirations  –  whether  they  hope  to  start   companies  on  graduation,  later  in  their  careers  or  from  inside  large  corporations.       A  group  of  us  at  MIT  deeply  associated  with  entrepreneurship  education,  after  considerable  discussion,   have  drawn  on  lessons  we  have  learned  at  MIT  and  elsewhere  to  identify  a  list  of  ten  suggestions  for   organizing  education  and  programs  in  this  area  at  university  campuses.    While  at  first,  it  seems  simple,   upon  further  reflection  the  list  of  ten  points  we  agreed  upon  was  anything  but;  it  is  a  mix  of  the  obvious   and  (we  think)  the  not  so  obvious.    We  believe  these  ten  steps,  many  of  them  requiring  educators  to   look  well  beyond  the  walls  of  their  current  classroom,  have  the  potential  to  build  an  educational   experience  that  produces  many  more  successful  high  impact  entrepreneurs.    At  a  minimum,  by  laying   out  our  approach  we  hope  to  engage  in  a  meaningful  dialogue  on  what  should  be  done  in  this  area  in   order  to  meet  the  needs  of  our  increasingly  sophisticated  customers,  students  at  institutions  of  higher   education,  and  to  meet  the  needs  of  our  economy  -­‐  job  creation  and  economic  prosperity.        
  • 2. 1. Make  the  Case  Why  Entrepreneurship  is  Important:  High  performance  organizations  aspire  to   make  the  world  a  better  place  rather  than  simply  to  perform  a  task.    Centers  of   Entrepreneurship  Education  must  do  the  same.    Entrepreneurship  is  not  just  another  course  in   the  catalogue;  it  is  something  that  will  have  high  and  positive  impact  on  the  world  we  live  in.     Job  creation,  economic  prosperity  and  improvement  of  social  welfare  are  critical  goals  and   entrepreneurship  is  a  catalyst  on  the  path  to  their  accomplishment.    Educators  must  make  the   case  for  the  importance  of  entrepreneurship  to  cities,  regions,  nations  and  continents.    There   are  plenty  of  reports  and  evidence  to  support  the  case  –  this  does  not  have  to  be  a  statement  of   hope  it  can  be  a  statement  of  fact.    The  Kauffman  Foundation  has  a  great  deal  of  data  to  support   the  case.      Universities  around  the  nation  have  spun  out  companies  from  their  labs  and  created   new  industries  and  new  jobs  –  Google,  Akami,  Biogen,  A123  to  name  a  few.    At  MIT,  we   conducted  our  own  study  released  authored  by  Professor  Edward  Roberts  and  PhD  Student   Charles  Eesley,  which  showed  that  MIT  Alumni  are  entrepreneurs  –  they  create  200-­‐400  new   companies  each  year.    Just  to  put  this  into  perspective,  the  report  calculated  that  the  companies   started  by  MIT  Alumni  who  are  still  alive  and  whose  the  companies  still  exist,  number  over   twenty-­‐five  thousand  -­‐  their  combined  yearly  revenues  total  almost  US$2  trillion  which  if  it  were   a  standalone  economy  would  put  it  just  behind  Brazil  and  neck  and  neck  with  Russia.     Entrepreneurship,  new  venture  creation  and  venture  growth  is  what  we  need  to  get  ensure   future  prosperity.    It  is  also  one  important  way  that  we  translate  the  valuable  research  we  do   here  at  institutions  of  higher  learning  through  our  investments  in  science  and  engineering  to  the   real  world.    This  message  needs  to  be  clearly  communicated  to  all.    ACTION:    Educators  need  to   gather  their  facts  and  make  the    very  compelling  case  of  why  entrepreneurship  is  real,  real   important.    The  educator  must  then  work  to  educate  other  stakeholders  outside  the  classroom   (i.e.,  proselytize)  to  achieve  the  steps  below.   2. Tone  at  the  Top:    For  any  organization  to  succeed  especially  when  it  seeks  to  change,  support   from  the  top  of  the  organization  is  essential.    It  is  no  different  at  institutions  of  higher  learning.     Probably  the  most  important  person  who  must  believe  in  the  compelling  case  you  develop  in   Step  1  above,  is  the  President  of  your  college  or  university.    Without  their  support  your  impact   will  be  limited.    Therefore  you  must  have  a  plan  to  win  their  support  and  gather  the  necessary   resources  to  build  the  Entrepreneurial  Education  platform  you  need.    The  university  president   does  not  have  to  be  an  entrepreneur,  for  example,  MIT  President  Hockfield  is  not  an   entrepreneur  but  she  understands  the  importance  of  entrepreneurship  as  an  element  of  the   broader  educational  experience.    The  leader  of  the  institution  does  not  have  to  be  actively   involved  but  the  tone  setting  that  this  person  does  is  critical.    University  leadership  may  be   ambivalent    and  this  can  be  crippling.  In  most  universities  (MIT  included)  some  faculty  are   openly  hostile  to  entrepreneurship  regarding  it  as  a  corruption  of  the  pure  mission  of  their   institution  of  higher  learning  –something  unteachable  or  a  set  of  stories  that  don’t  match  the   rigorous  traditional  discipline-­‐based  courses.    Resolution  of  this  issue,  building  an  evidence-­‐ based  case  for  the  role  of  entrepreneurship  in  the  economy  and  for  the  rigorous  lessons  we   have  about  entrepreneurship    is  key.    This  is  an  activity  that  requires  faculty  and  practitioners  to   work  together  and  can  be  a  complex  undertaking  but  no  bottom-­‐up  curriculum  effort  will  
  • 3. overcome  indifference  at  the  top.    ACTION:    Educators  need  to  educate  the  leaders  of  their   institution  about  the  benefits  of  entrepreneurial  education  based  on  real  evidence  and  jointly   develop  a  plan  for  its  role  on  campus.    Outside  resources  (e.g.,  alumni,  other  institutions,   Kauffman  Foundations)  should  be  used  if  helpful  to  help  make  this  case.    Real  and  visible   support  (e.g.,  quote  for  brochures  &  website,  regular  briefings,  support  for  cross-­‐campus   programs,  and  attendance  at  events/programs)  is  essential  for  meaningful  impact  to  be   achieved.   3. What  Type  of  Entrepreneurship?    The  Need  to  Collaborate  and  Focus:    Each  of  our  institutions   has  finite  resources  and  like  any  entrepreneurial  enterprise,  we  have  to  be  very  intelligent  about   how  we  deploy  them.    Entrepreneurship,  while  very  alluring,  is  an  incredibly  broad  category  and   has  many  different  areas  each  of  which  require  a  substantially  different  educational  focus.     While  it  is  important  to  experiment  with  your  offerings,  you  need  a  strategic  goal  for  your   education.    For  instance  at  MIT,  based  on  our  core  strengths,  we  have  chosen  to  focus  our   efforts  and  resources  on  science  and  technology  enabled  innovation-­‐based  entrepreneurship.     While  we  do  not  do  this  to  the  complete  exclusion  of  brand-­‐centric,  family,  social,  franchise,   retail,  corporate  or  many  other  types  of  entrepreneurship  like  any  business  we  need  to  focus   and  concentrate  our  resources  if  we  want  to  produce  excellence.    Yes  all  of  the  varieties  of   entrepreneurship  should  be  valued  and  many  are  vital  drivers  of  job  creation,  economic   prosperity  and  social  welfare.    But  institutions  must  determine  the  best  fit  for  them  given  their   students,  their  alumni,  the  region  and  its  economic  base  and  the  aspirations  of  institutions.      In   this  model,  the  benefits  of  open  and  honest  dialogue  among  regional  players  to  collaboratively   determine  each  institution’s  focus  within  the  broad  area  of  entrepreneurship  become   abundantly  clear.    ACTION:    Set  up  regional  workgroups  of  entrepreneurial  educators  to  discuss   collaboration  amongst  universities  what  each  institution’s  primary  area  of  expertise  to  avoid   duplication.    Institutions  could  then  concentrate  on  specific  areas  to  develop  deep  expertise  to   benefit  their  students  and  the  region.       4. Curriculum  Road  Map  Leading  to  Type  and  Industry  Specialization:    Once  the  institution  has   decided  on  the  focus  of  its  entrepreneurial  education,  it  must  determine  the  key  skills  and   critical  industries  of  interest.    This  will  guide  the  educators  in  developing  a  curriculum  that  be   cumulative  –  lessons  from  course  building  on  one  another  to  provide  a  deep  and  enduring   educational  experience.    While  entrepreneurship  may  have  the  perception  of  being  similar   across  many  fields  (and  there  are  common  truths  and  skills),  this  is  not  true  and  become  even   less  so  as  time  progresses.    At  the  base  of  the  curriculum  can  come  a  set  of  general  skills   (specific  to  entrepreneurial  settings)  -­‐entrepreneurial  strategy,  entrepreneurial  product   marketing,  sales  &  communications,  entrepreneurial  finance,  human  resources  for  small  early-­‐ stage  organizations  etc.).  But,  to  be  productive  in  the  real  world,  another  layer  of  specialization   must  be  added.    It  is  imperative  to  provide  expertise  relevant  to  your  type  of  entrepreneurship   be  it  social,  family,  franchise,  technology,  B2B,  B2C,  corporate  or  other.    These  have  different   models  and  second  level  fundamentals.    In  addition,  to  be  productive,  the  student  should  have   industry  specific  expertise  to  be  successful  in  areas  like  software,  web,  biotech,  clean  energy,  
  • 4. water,  retail  to  name  a  few.    The  world  is  much  more  complex  and  building  entrepreneurs  –   actually  teams  of  entrepreneurs  to  be  more  accurate  –  that  have  the  domain  expertise  in  their   specific  type  of  entrepreneurship  and  their  target  industry  makes  them  much  more  effective.     Developing  a  multilevel  curriculum  that  starts  with  introductory  courses  but  allows  the  students   to  advance  into  courses  that  offer  a  deeper  dive  into  specific  skills  and  industries  is  the  formula   we  use  to  make  our  students  more  successful.    ACTION:    Educators  should  develop  a  multilevel   curriculum  that  starts  with  introductory  courses  but  allows  the  students  to  advance  into   courses  that  offer  a  deeper  dive  into  specific  skills  and  industries.    This  is  a  formula  to  make   our  students  more  successful.   5. Combining  Academics  and  Practitioners  in  the  Class  Room:    The  motto  of  MIT  “Mens  et  Manus”   (literally  translated  meaning  mind  and  hand)  is  omnipresent  in  the  air  at  MITand  is  well   summarized  by  the  iconic  image  of  the  philosopher  and  the  iron  worker  standing  side  by  side  in   the  traditional  MIT  logo.      While  most  universities  building  entrepreneurial  education  cannot  call   upon  such  a  convenient  local  motive  to  remind  them  of  the  power  of  combining  of  academic   rigor  with  the  practical  application,  this  is  nonetheless  critically  important.    While  MIT  has   championed  the  use  of  practitioners  in  the  class  room  with  great  results,  it  is  imperative  to   maintain  a  proper  balance.    Academics  with  social  science  training  in  economics,  management   and  sociology  who  focus  on  understanding  the  drivers  and  consequences  of  entrepreneurship   are  critical  partners  in  entrepreneurial  education  and  are  in  short  supply.    We  greatly  value  our   excellent  practitioners  and  our  strong  academic  instructors.    And,  when  given  equal  standing  in   the  classroom  the  students  benefit  greatly  from  the  dual  perspectives.  Today,  we  have  plenty  of   the  former  and  too  few  of  the  latter.    We  have  a  hard  time  filling  spots  we  have  for  academic   tenure  track  professors  of  entrepreneurship  while  maintaining  our  standards  of  excellence.    To   fill  this  void  with  practitioners  is  sub-­‐optimal.    Data  is  not  the  plural  of  anecdotes  and  while   students  do  like  to  hear  stories,  it  is  our  duty  to  ensure  that  what  the  foundations  of   entrepreneurial  education  are  based  on  rigorous  research  not  simply  anecdotes  from  famous   successful  alumni.    There  are  numerous  examples  of  the  insights  from  serious  research  being   brought  into  the  classroom.    One  is  the  myth  of  the  singular  mercurial  entrepreneur  creating   companies.    Research  shows  that  this  is  not  the  case,  that  in  fact  the  larger  the  team  the  more   likely  the  odds  of  success  in  an  innovation-­‐based  new  venture.    The  factors  influencing  women   to  enter  entrepreneurship  have  also  been  the  subject  of  serious  analysis  that  can  be  brought  to   bear  in  the  classroom.  There  are  countless  more  examples  but  the  point  is  simple  –  we  need   both  academics  who  do  rigorous  research  in  this  entrepreneurship  and  practitioners  who  start,   build  and  fund  entrepreneurial  companies  to  create  the  successful  “mens  et  manus”  educational   balance  we  have  achieved  here  at  MIT.    Towards  this  end,  we  need  to  relook  at  how  we  are   generating  a  pipeline  of  social  scientists  studying  entrepreneurship  and  integrate  them  into  the   educational  process.    ACTION:    Educators  should  recognize  entrepreneurship  as  a  serious  field   of  scholarship  and  ensure  that  research  is  integrated  into  the  curriculum.    A  dual  teaching   approach  to  course  development  and  teaching  that  combines  academics  and  practitioners   should  be  attained  whenever  possible  and  always  sought  after.    To  reduce  the  shortage  of   good  academics  in  this  area,  developing  a  pipeline  of  entrepreneurship  research  and  people  
  • 5. capable  of  doing  research  and  ultimately  teaching  should  also  be  a  priority  and  such  a  policy   should  be  advocated  within  the  university  as  well  as  in  the  government.   6. Cross  Campus  Collaboration  to  Produce  Hybrid  Vigor:    Great  entrepreneurship  (at  least   innovation-­‐based  entrepreneurship)  requires  new  thinking  and  this  arises  from  heterogeneous   teams  working  in  complex  environments.    Different  perspectives  on  a  problem  or  opportunity   must  be  sought  and  incorporated.    As  such  it  is  not  surprising  that  successful  entrepreneurial   ventures  most  often  have  a  multidisciplinary  team  at  their  core.    What  does  this  mean  for   entrepreneurial  education?  At  MIT  our  success  comes  in  large  part  from  our  ability  to  create   educational  experiences  for  teams  of  students  from  the  different  schools.    This  is  especially  true   across  the  schools  of  engineering,  science  and  management.    By  bringing  together  the   technologists  (a/k/a  “geeks”)  and  the  business  people  (a/k/a  “suits”)  in  a  setting  that  seeks  to   build    mutual  respect  and  mutual  understanding    -­‐-­‐  a  sort  of  bilingualness  (or  at  least  pigeon)  –   we  better  prepare  our  students  to  operate  effectively  in  entrepreneurial  teams.    This  is  in  fact  is   one  of  the  fundamental  roles  of  the  MIT  Entrepreneurship  Center  -­‐    to  be  the  connective  tissue   between  these  multiple  worlds.      Entrepreneurship  education  needs  to  be  seen  as  cross   disciplinary  and  not  just  the  purview  of  a  single  school  –  otherwise  you  will  end  up  missing  the   incredible  value  of  hybrid  vigor  which  historically  has  been  a  vital  source  of  new  DNA  resulting  in   major  successes  in  this  field.    ACTION:    Courses  should  be  designed  and  marketed  to  draw   students  from  many  different  backgrounds.    At  least  some  of  the  courses  should  have  active   projects  which  require  students  working  together.    Entrepreneurship  Education  should  not  be   seen  as  the  responsibility  of  one  school  for  one  school  but  rather  a  cross  campus  collaborative   initiative.   7.  Build  an  Ecosystem  of  Experiences  to  Foster  and  Grow  Class  Room  Developed  Skills:    A  class   room  does  not  exist  in  a  vacuum  nor  does  a  university  exist  on  its  own.    The  value  of  an   ecosystem  is  a  vital  part  of  the  promoting  effective  entrepreneurial  education  as  demonstrated   in  the  MIT  and  Kauffman  “Entrepreneurial  Impact:  The  Role  of  MIT”  Report.    This  study  shows   the  enormous  leverage  gained  when  education  in  the  class  room  is  put  to  use  immediately  and   in  an  interactive  way  outside  the  class  room  directly  with  the  real  world.    The  comprehensive   assortment  of  student  clubs,  activities,  ,  conferences,  internships,  alumni  organizations  and   action  learning  opportunities  both  make  the  class  room  learning  real  but  also  motivate  the   student.    This  has  led  to  our  strategy  simply  stated  as  “Educate-­‐Nurture-­‐Network-­‐Celebrate-­‐ Research”  -­‐  codified  after  we  realized  that  what  we  were  doing  was  much  more  than  educate.     The  education  really  comes  to  life  in  the  extracurricular  internships,  competitions,  conferences   and  other  activities  which  create  the  vibrant  environment  for  experimenting  with  different   elements  of  entrepreneurship  and  gaining  experience  applying  the  lessons  learned  in  the  class   room.  While  some  of  these  elements  of  the  ecosystem  were  developed  by  faculty  many  are   student  driven  or  have  been  spurred  by  ideas  and  engagement  from  alumni.    ACTION:     Educators  should  design  and  help  develop  an  ecosystem  for  entrepreneurship  on  the  campus   and  within  the  local  community.    Investments  of  time  and  money  should  be  made  to  initially  
  • 6. create  the  ecosystem  but  students  must  play  a  critical  part  in  its  evolution  and  ongoing   sustainability.       8. Include  an  Entrepreneurial  Sales  Course  in  the  Curriculum:    While  not  wanting  to  micromanage   your  curriculum,  we  believe  that  it  is  critical  to  teach  sales  as  part  of  an  Entrepreneurship   Education  curriculum.  The  entire  purpose  of  a  business,  particularly  an  entrepreneurial  start-­‐up   with  no  deep  pockets  and  patient  funding  source,  is  to  provide  value  for  a  group  of  customers   and  get  paid  enough  such  that  the  new  venture  makes  money  and  does  so  in  a  sustainable  way.     We  do  not  spend  enough  time  in  Entrepreneurial  Education  teaching  our  students  how  to   understand,  learn  from,  listen  to  and  talk  to  customers  and  ultimately  how  to  close  a  deal  with   them  –  i.e.,  separate  them  from  some  money  –  when  it  comes  to  the  companies  with  novel   products.    This  is  one  of  the  most  fundamental  skills  of  an  entrepreneur  must  possess.    Perhaps   because  it  is  more  manus  than  mens,  it  has  traditionally  had  little  or  no  place  within  the   university.    Today,  this  is  exacerbated  by  the  fact  that  many  of  the  companies  who  used  to  train   young  people  in  this  skill  through  extensive  in-­‐house  programs  no  longer  do  so.    Sales  education   and  training  has  a  poor  perception  amongst  most  academics  and  it  is  believed  to  run  counter  to   what  academic  institutions  what  to  be  associated  with.    But  if  we  ignore  this  critical  skill,  we  are   doing  our  students  a  significant  disservice  to  them  by  not  teaching  it.    When  placed  in  the   context  of  a  broad  and  well-­‐designed  curriculum,  a  sales  course  has  an  important  place  and  can   enable  the  creation  of  truly  comprehensive  entrepreneurship  education.  ACTION:    Teach   entrepreneurial  sales  at  university  level  immediately.    Money  should  be  spent  to  develop  a   curriculum  at  a  national  level  and  then  made  available  to  colleges  and  universities.   9. Spirit  is  as  Important  as  Skills:    While  we  strive  to  provide  skills  training  in  the  class  room  that   will  fully  prepare  our  students  to  be  successful  entrepreneurs  when  the  time  is  right  in  their   careers,  we  know  that  undertaking  the  challenge  of  an  entrepreneurship-­‐oriented  career  is  a   mindset  as  well.    Since  they  must  do  what  others  have  not  done  before,  we  must  get  them   comfortable  with  experimentation  which  involves  failure  and  most  importantly,  learning  from   failure.    We  must  set  a  tone  that  is  accepting  of  failure  as  an  integral  part  of  the  learning   process.    As  mentioned  above  in  #7  (“Context”),  we  actively  design  an  ecosystem  that  provides   opportunities  for  experimentation  in  the  safety  of  the  educational  institution  with  competitions,   “laboratories”  and  simulations.    Our  range  of  “Action-­‐learning’  entrepreneurial  experiences   include  working  on  projects  to  assess  the  commercial  potential  of  real  ideas  developed  by   leading  science  and  engineering  faculty,  to  working  on  pressing  problems  of  local  entrepreneurs   as  part  of  an  “E(ntrepreneurship)  Laboratory”.    People  who  take  risks  and  learn  in  these  settings   and  in  the  student  run  competitions  and  clubs  in  an  intelligent  manner  are  celebrated  with   awards,  special  assignments,  public  relations  articles  and  exposure  through  the  institutions   digital  communications  platforms  (i.e.,  web  site  and  other  social  media)  in  recognition  of  their   efforts,  milestones  and,  maybe  even,  success.    We  look  to  make  our  entrepreneurs  feel  like  rock   stars  and  encourage  entrepreneurial  behavior  –  and  part  of  our  larger  dynamic  and  growing   community.    ACTION:    Institutions  should  allocate  money  and  resources  to  have  an  active   program  to  celebrate  its  students  who  effectively  apply  the  lessons  learned  in  the  class  room  
  • 7. whether  they  succeed  or  not.    Encourage  educators  to  include  entrepreneurs  who  have   “failed”  once  but  succeeded  later  to  be  included  in  the  course  and  have  them  talk  frankly   about  the  role  of  failure  and  the  joys  of  success.   10. Bias  to  Action  and  Practicing  What  We  Preach  -­‐  Experimentation:    Studies  have  shown  that   successful  innovators  and  entrepreneurs  have  a  bias  to  action  and  are  quick  to  experiment  as   the  most  effective  form  of  learning.    It  is  clear  that  over  analysis  stifles  entrepreneurship  and   instead  organizations  would  be  better  off  trying  small  experiments  with  limited  exposure  rather   than  attempting  to  determine  the  perfect  outcome  before  they  act.      So  why  don’t  we  apply  this   to  ourselves  in  Entrepreneurship  Education?    Eleanor  Roosevelt  once  said,  “Do  one  thing  every   day  that  scares  you.”    With  that  in  mind,  each  semester  we  try  an  educational  experiment,   modeling  the  behavior  we  want  to  see  in  our  students.    We  experiment  with  the  market  (which   students),  the  technology  (the  content)  and  the  business  model  (modes  of  delivery).    This  allows   us  to  learn  but  it  can  only  be  a  successful  way  of  learning  if  we  can  be  as  rigorous  in  stopping  as   we  are  in  starting.    These  experiments,  like  the  one  we  launched  to  explore  opportunities  in   natural  gas,  can  be  as  challenging  as  they  are  exciting  but  if  we  until  we  have  all  the  data  about   student  interest  and  intellectual  content  the  window  of  opportunity  would  have  closed.    Some   of  these  experiments  built  on  a  foundation  of  a  rigorous  and  well  designed  curriculum  and   course  roadmap  keep  us  on  our  toes,  make  our  work  exciting  and  show  that  we  are  willing  to   walk  the  talk  when  it  comes  to  experimentation.    ACTION:    Institutions  of  higher  education  set   a  goal  to  have  one  course  each  year  to  experiment  with  a  new  emerging  area  or  skill  –   understanding  that  it  will  be  unlike  the  other  more  well  defined  classes.         Whether  you  agree  or  disagree  with  our  perspective,  we  have  succeeded  if  we  have  convinced  you  that   entrepreneurship  education  is  a  meaningful  activity  and  not  an  oxymoron.    We  will  have  succeeded  if   you  think  a  little  more  carefully  about  how  to  improve  entrepreneurship  education.    And  we  will  have   succeeded  if  you  are  inspired  to  join  this  conversation  with  us.    Any  improvement  in  this  area  will  have   enormous  positive  impact  going  forward  and  while  we  might  debate  the  details  of  the  ten  points  above,   we  can  all  agree  that  the  imperative  to  improve  education  in  this  area  is  as  essential  as  it  is   entrepreneurial.