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MIT and EPFL Innovation eco-systems
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MIT and EPFL Innovation eco-systems

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Comparing MIT Innovation eco-system with EPFL, after attending Venture Mentoring Service Workshop organised by Jerome Smith, February 2009

Comparing MIT Innovation eco-system with EPFL, after attending Venture Mentoring Service Workshop organised by Jerome Smith, February 2009

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  • 1. Can US innovation processes be adapted in Europe ? 28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 1
  • 2. MIT Entrepreneurial Ecosystem 28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 2
  • 3. 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
  • 4. 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
  • 5. 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
  • 6. 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
  • 7. 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
  • 8. Exemple EPFL alumnis 28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 8
  • 9. 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
  • 10. 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
  • 11. Who are A3 alumni : role models Source : Herve Lebret, EPFL 28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 11
  • 12. 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
  • 13. 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
  • 14. Let’s team-up to win together 28.03.2009 Claude Florin (EL82) claude.florin@a3.epfl.ch 14 Photo credit: Th.Martinez, Alinghi

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