Can US innovation processes be
adapted in Europe ?
28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 1

MIT Entrepreneurial Ecosystem
28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 2

MIT Entrepreneurial impact
• 25,800 active companies founded by MIT alumni
• Employ about 3.3 million people
• Generate annual world sales of $2 trillion
• Equivalent of the 11th-largest economy in the world.
Source : Edward B. Roberts and Charles Eesley, MIT Sloan , February 2009
28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 3

MIT Venture Mentoring Service
Goals
• VMS is based on the belief that:
a venture is more likely to thrive when an
idea, a good business plan and an
entrepreneur are matched with proven skills
and experience.
• Highly qualified mentors find it compelling and
rewarding.
• Both mentors and entrepreneurs benefit.
• Mentoring works best when un-biased and no
strings attached.
Jerome Smith, Co-Director, vmsoutreach@mit.edu
28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 4

MIT Venture Mentoring Service
Expectations
• Entrepreneurs
• Mentors
– Serious about learning, making
– 1-2 days of mentoring each month
progress
(minimum)
– Prepared – do homework and
– Attend Monthly Review Meetings
submit agenda + materials
– Discretion and confidentiality
– Keep in regular communication –
– Adherence to guidelines
be responsive
– Role
– Give us the whole story
• Listen
– Don’t come to us purely for $$$ or
• Advise connections
• Suggest
• Anticipate
• Troubleshoot
• Supply Contacts
• Role Model
Jerome Smith, Co-Director, vmsoutreach@mit.edu
28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 5

MIT Venture Mentoring Service
Results
• 238 ventures of record
• 133 mentors of record
• 98 active ventures
• 107 mentors
• 50 launched/executing
• 56% with an MIT background
• 6 liquidity events
• Most with startup experience
• Various stages of funding -
• Broad range of:
over $520M raised
– backgrounds
• Every field imaginable
– motivations
– technical + industry
expertise
– business expertise
Jerome Smith, Co-Director, vmsoutreach@mit.edu
28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 6

MIT Venture Mentoring Service
Process
Team(s)
Member
Mentor
Orientation
Interview
Lead Mentor
Participate in Intake
Sign Up Mentoring Specialist
Sessions
Mentor
Specialist
Attend
Monthly
Review Special Office
Meetings Projects
28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 7

Exemple
EPFL alumnis
28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 8

European example : EPFL environment
250 Laboratories
Networking
>14’000 alumni in 110
Coaching
countries
• Sections : CH, F, USA, P,
Education
China…
>10’000 on campus
>25’000 with University
Events
•Alumni day (Mondial)
Incubator •Innovation days
90 150 on site
~60 alumni in synergy with other players
Alumni bring different skills and experiences
Source : PSE, A3
28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 9

A3 Angels and EPFL collaboration
A3 Angels members and EPFL
Source : Prof. Jean Micol, MoT
students support each other
28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 10

Who are A3 alumni : role models
Source : Herve Lebret, EPFL
28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 11

A3 Angels mentors : work with CTI coaches
> 40 CTI professional coaches
with entrepreneurial experience
Evaluation Arms length
Check Coaching
coaching
• Market • Business plan
• High-Tech?
CTI • Contracts
• Technology • B-Development
• Innovative?
• Funding
• Management • Training
• In right area?
Mentor
Support
Advise Advise
A3 • Business
• Idea • Seed funding
• Idea
• Network
• Business • Network
• Business
>24 mo.
3 weeks 4-6 weeks 6-18 months
A3 volunteer mentors with
professional experience
Source : CTI + A3
28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 12

Who are A3 Angels ?
Members A3 Senior Angel A3 Micro Angel
Profile < 20 Successful >30 members
entrepreneurs 40+ years old
Senior managers Active professionals>
active or retired
Mentoring > 20 CHF x 3 year
Contribution
Individual pooled seed
investments Reserve employees
> 50KCHF Active business
Sweat development network
Mentoring Sharing expertise
Motivation
Relationships Long-term money
Technologies Entrepreneurs interest
Interest in region Interest in technology
28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 13

Let’s team-up to win together
28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 14
Photo credit: Th.Martinez, Alinghi