Let’s start with the million-dollar question: What is entrepreneurship?
Most of what you see on TV is built on the myths of entrepreneurship: freedom, wealth, power, etc.. Entrepreneurship is not quite so glamorous as it may appear. As Shark Lori Grenier says, “Entrepreneurs are willing to work 80 hours per week to avoid working 40 hours a week.” Successful entrepreneurs share this definition of entrepreneurship: the relentless pursuit of opportunities beyond resources controlled.
MIT Launch is a transformative summer experience that enables students to begin their entrepreneurial journey and acquire a better understanding of the method for starting a successful venture. From move-in day to final pitches, we focus on providing Launchies with the mindset and skills to go from high school students to entrepreneurs who have started real companies.
The program guides students through the disciplined entrepreneurship framework. While the summer curriculum covers a variety of business topics including pricing, revenue models, strategy, etc., the core focus is on the entrepreneurial topics of primary market research and building a minimum viable product. At Launch, we have adopted the lean start-up methodology. We encourage companies to go from idea to testing as quickly as possible through first market research then testing a MVP. To evaluate and benchmark company progress, teams have three Mock Board of Directors meetings with experienced entrepreneurs and experts in their respective fields.