MIT ENTREPRENEURSHI

P CENTER

Elliot Cohen

Agenda

Intros

Background

The Nudist on the Late Shift

“Every generation that came before us had to make a choice in life between pursuing a steady career and pursuing wild adventures

By injecting mind-boggling amounts of risk into the once stodgy domain of gray-suited business, young people no longer have to choose.

It’s a two-for-one deal: the career path has become an adventure into the unknown.

In six months you might get a job, be laid off, start a company, sell it, become a consultant, and then, who knows?”

Startup Stages

Stage 1Inspiration /Idea/Tech

Stage 2Validation

Stage 3Develop Business Plan

Stage 4Build Product

Stage 5Scale, Scale, Scale

Raising Money

We connect buyers with manufacturers.

Paul (Buyer) Julie (Manufacturer)

Find Products.

Showcas

e Products.

Validate the idea

Building a prototype

Speed Bumps

The Team…

Why the heck did I stick around?

“Its nice to have an end to journey toward, but it’s the journey that matters in the end”

- Ursula K. Le Guin

Dig in: GSD

Pivoting

Regrets?

What next?

Questions

MIT Team Quality:What makes them stand out compared to

others?What selection process is there (if any)?

To succeed you have to have a technical background – thus writing code should be part of the curriculum

What are the key factors for a successful incubator?