Entrepreneurs Molded Through MIT Climate and Energy Ventures Program Launch Profitable Businesses
In 2014, a team of MIT students soaked up knowledge from course 15.366, bravely stepping up to the plate and devising a business plan to commercialize groundbreaking MIT research on using light to transfer information between chips, resulting in significant energy savings.
Having taken home both grand prizes at the MIT Clean Energy Prize following the class, this powerhouse team carried their success forward and founded Ayar Labs, a company valued at a whopping $370 million from major players including chip leaders AMD, Intel, and NVIDIA. Ayar Labs is just one of the many companies with roots in 15.366, a course that has seen over 150 businesses born since its establishment in 2007.
Co-taught by Senior Lecturer Tod Hynes and Professor Bill Aulet, 15.366 challenges student teams to bring a technology or idea to life, offering them a hands-on experience in launching a business. In a gritty effort to educate entrepreneurs for the climate and energy space, the semester-long project combines lectures, mentoring, talking to potential partners, investors, and plenty of pitch practice to ensure students learn from valuable feedback.
A catalyst for MIT spin-offs, as well as a key factor in the $1.9 trillion in annual revenues generated by MIT alumni-founded companies, 15.366 attracts a massive 150 applications each year for its 50 spots. The class connects students from diverse academic backgrounds, striving to enroll individuals with backgrounds in science, engineering, business, and policy, bringing a world of insights to the table.
Chris Johnson, a second-year graduate student in the Leaders for Global Operations (LGO) Program, joined the class in a bid to explore sustainability, energy, and startups. While the course primarily focuses on graduate students in their final year to ensure they can continue working on the venture post-class, its experiential learning approach serves students well, enhancing their careers.
Before diving in headfirst, students travel through a simulated startup journey, engaging in every step described in Aulet's book "Disciplined Entrepreneurship." With practical deadlines, group dynamics, and real-world feedback at the forefront, 15.366 teaches students the ropes like no other.
As students begin solving challenging problems, months of hard work culminate in a final presentation that simulates pitching the startup to investors or government officials. This semester's presentations took place at The Engine's headquarters, with an audience of professors, investors, and foundation members.
For Sofie Netteberg, a graduate student and fellow LGO program participant, the course tested her dedication, work ethic, and innovative spirit. With her team continuing to work on their electrolizer technology designed to produce green hydrogen more efficiently, they relish receiving real feedback from experienced professionals.
Tod Hynes, co-founder of the course, stresses that while pragmatism is crucial, this is also an opportunity for students to think outside the box and pursue ambitious projects with massive potential impact. He encourages his students to experiment, pushing the boundaries of what's possible during this unique time in their lives.
- The MIT students devised a business plan in course 15.366, aiming to commercialize MIT research on energy savings.
- In 2014, the team from 15.366 won both grand prizes at the MIT Clean Energy Prize.
- Ayar Labs, founded by the winning team, is valued at $370 million with backing from major tech companies.
- Since 2007, over 150 businesses have been born in 15.366, a course which focuses on technology and idea commercialization.
- Co-taught by Tod Hynes and Professor Bill Aulet, 15.366 challenges student teams to bring their ideas to life.
- The course combines lectures, mentoring, and pitch practice to educate entrepreneurs for the climate and energy space.
- MIT spin-offs and the $1.9 trillion in annual revenues from alumni-founded companies can be traced back to 15.366.
- The course attracts 150 applications each year for its 50 spots, enrolling students from diverse academic backgrounds.
- Chris Johnson, a second-year graduate student, joined the class to explore sustainability, energy, and startups.
- The course focuses on graduate students in their final year to ensure they can continue working on the venture post-class.
- Students simulate a startup journey, engaging in every step described in Aulet's book "Disciplined Entrepreneurship."
- With practical deadlines, group dynamics, and real-world feedback at the forefront, 15.366 teaches students like no other.
- Students present their solutions to challenging problems in a final presentation, often held at facilities like The Engine's headquarters.
- Sofie Netteberg, a graduate student, found the course testing her dedication, work ethic, and innovative spirit.
- Professor Hynes encourages students to think outside the box and pursue ambitious projects with massive potential impact.
- During the course, students gain hands-on experience in learning the ropes of entrepreneurship, technology, education, and self-development.
