Carpe diem
Sloan students are seizing opportunities and running businesses while they
earn their degrees
The busy members of the classes of '00 and
'01 are the living embodiment of carpe diem. Take the recent "spring
break"--anything but a break for students who went on personal business trips or investigated
opportunities on Sloan-sponsored treks as far away as China and the Middle
East. Sleep and restful recreation are the last priority for a group
determined to make the most of their time and energies while at Sloan.
In addition to a heavy courseload and
extracurricular activities, today's "Sloanies" are creatively applying
their coursework to their own business applications-and vice versa-seizing
opportunities wherever they see them. Eager participants in Sloan's
thriving tradition of innovation, they effect change in the business world
at large and here at Sloan.
Startups: holes to fill
What sparks this spirit of innovation? According
to MIT Sloan Professor Eric Von Hippel, a 25-year veteran of the Sloan
faculty who teaches a course in innovative thinking, when innovators see a
hole in a familiar area, they apply experiences and skills, more than
creativity, to fill it. Today, a growing number of students see startups as
viable and lucratives way to fill such holes.
Some students, like David Altemir, SM '01, and Dan
Grotsky, LFM '00, have founded companies while at Sloan. Altemir's company,
AML Technologies, is developing an artificial intelligence system to help
engineers and manufacturers reduce product development costs and schedules.
Grotsky's Sophium uses media delivery technology to bring real-time viewing
data to advertisers and networks.
Others, like Jonathan Monsarrat, SM '00, founded
companies before coming to Sloan. Monsarrat's company, Turbine, has
produced an award-winning commercial version of a hobbyist game. "I took
the basic concept," he says, "added some neat ideas, and shook it up with
graphics and high production value." He handed the reins to a stand-in CEO
when he came to Sloan but stays involved. He hired classmate Martin Giese,
SM '00, as a consultant.
Giese also works on his own enterprise,
Solonventures, which he expects "to become the leading German incubator for
blue-chip opportunities in telecommunications and the Internet." He spent
spring break on a business trip to Germany, and reports, "After 10 weeks in
business, we have the core team of six people together and about 80 people
working for our first two investments."
Giese and Ken Wainer, SM '01, are just two of
several students focusing their initiatives abroad. Wainer and classmate
Baren Rose, SM '01, are building on the groundwork Wainer laid in Brazil
when he worked there as an investment banker before coming to Sloan. They
are developing a business-to-business Internet company with Plano
Editorial, Brazil's leading information technology trade press.
The business of classes
Students' involvement with outside business
ventures often blurs the line between the classroom and the real world.
They tap into their startup experiences in the classroom, and draw on
coursework-and each other-for their ventures. Monsarrat has based class
projects on his company and his industry, which has helped him write
Turbine's next business plan. During class discussions, he says, "I have a
real application in mind. And I can put the tools I'm learning to immediate
use."
Wainer agrees, but notes that coursework and
business demands sometimes conflict. "I feel like I'm serving two masters.
I have a responsibility to participate in class, but also a fiduciary
responsibility to shareholders in the business." He often finds himself
dashing off critical company emails in the moments just before class.
MIT Sloan community activists
Sometimes, a student's bright idea has nothing to
do with a business startup, but instead offers opportunities to the Sloan
community. One initiative gaining momentum is e-MIT, a student-run online
portal that brings together MIT entrepreneurs and the venture capital
community. Within a month of the pilot release, more than 700 users had
signed up and nearly 250 jobs were posted. States e-MIT copresident Josh
Miller, LFM '01, "Each e-organization at MIT focuses on a different aspect
of entrepreneurism. We're working to develop partnerships with these groups
and to congregate them."
Sloan2000 is a brand-new portal launched to
encourage professional networking among this year's graduates. Founder
Homayoun Hatami, SM '00, sees Sloan alumni networking as a
work-in-progress, and is grateful for a flexible administration that allows
him to make improvements. "Sloan is a lifetime investment," he explains.
"Its ongoing value is proportional to the time and effort we spend
networking."
Given the proportion of time spent on networking
and other activities, the value no doubt runs high among Sloan students.
Those mentioned here admitted to only six or seven hours of sleep a night,
their single concession to a lifestyle one might call driven.
"I have too much joie de vivre to waste a minute on
wasteful tasks like sleeping," jokes Monsarrat. He and his fellow MBAs are
too busy being innovators.