Entrepreneurship Lab

The benefits of becoming a host startup

E-Lab host startups have a unique opportunity to work with management, science, and engineering students to address crucial challenges, such as:

• Choosing initial markets
• Approaching initial customers
• Communicating product value

What makes a good E-Lab project

We suggest that in identifying potential E-Lab projects, companies start with the following criteria:

1. The topic must be extremely important to the CEO. In particular, it must be important enough that the CEO and top managers will be happy to provide substantial time and access to the E-Lab students who are working on the project. Students need substantial contact with senior managers of the companies, and will work remotely with them throughout the semester. 
2. The project should have an appropriate time frame – short enough to meet the importance/access criterion above, but long enough that it makes sense to wait for the students results at the end of the semester. (The students will keep you informed of their progress during the term, but you will receive the main results in a presentation at the end of the semester.)
3. The topic should be one on which the students can make a substantial contribution. In almost all cases, good topics involve bringing your product to market rather than dealing with primarily technical problems. Examples: We have a great technology. We want the E-Lab team to identify and evaluate possible initial markets in which our technology can provide value to customers and to quantify the value proposition. We have a great technology and an initial target market. We want the E-Lab team to develop a go-to-market strategy for our product in that market and to quantify the value proposition. 
4. The project must involve research and direct contact with customers and prospects. E-Lab has a very strong customer orientation. We believe that a foundation of customer understanding is required to choose markets, make specific decisions (such as pricing or sales approaches), and evaluate competitors. If for some reason you do not want students to have access to your customers/prospects at this time, we suggest that you wait for a future semester to participate in E-Lab.
5. In particular, the project should involve an explicit, quantified statement of the value you will provide to your customers. In some cases, the team does the initial development of a value proposition. In other cases, they use and build on a value proposition that the host company developed previously.

Startups: How to apply

Please reach out to Kit Hickey (khickey@mit.edu) to receive a link to the application. 

We appreciate your interest in offering a project opportunity for a small team of our savvy students. We would be delighted to have you participate in the MIT Entrepreneurship Lab (E-Lab) as a host company and we promise our best efforts to make it a highly rewarding experience for your firm.

Host Timeline

1. Before the start of the semester, startups apply on our website. This course is offered in both spring and fall semesters.
2. Once faculty choose E-Lab projects, they are pitched to students on the first day of class.
3. In the first week of class, students will submit their top preferences, and faculty will match teams with hosts.
4. The student team and the host startup CEO will agree on and sign a project plan. Students will work on executing this plan for the rest of the semester, frequently and regularly communicating with senior management.
5. Teams present findings to the senior management of the host company.