MIT is deploying a structured model to complement the bright ideas of their students with sound mentoring in the business field so that running a startup becomes as smooth as possible.I am sure this model can be emulated in many colleges to spawn new companies.

MIT is recognized worldwide as a leader in innovation and enterprise. The Institute counts many industrial leaders among its graduates, including Alfred P. Sloan, Arthur D. Little, Alfred du Pont, William R. Hewlett, Amar G. Bose and Robert M. Metcalfe. In recent decades MIT alumni and faculty have founded thousands of successful companies and created millions of jobs.

Today’s emerging MIT entrepreneurs, however, face an unusually fast-moving and competitive business environment. The speed of technological changes, accelerated product cycles, global competition and sophisticated financing strategies often demand resources and experience beyond the reach of the typical start-up. Through its unique mentoring process, VMS offers the help that’s needed to confront these complexities.

The MIT Venture Mentoring Service (VMS) is an organization formed to support entrepreneurial activity throughout the MIT community and, thereby, to further the educational mission of MIT. VMS believes that the active support of entrepreneurial activities contribute to the entrepreneurship education of the MIT community, strengthens MIT’s role as a world leader in innovation, and broadens MIT’s base of potential support.

History

The MIT Venture Mentoring Service (VMS) traces its beginnings to a meeting suggested by former MIT provost Robert Brown in 1997 between Alec Dingee, an MIT Sloan School of Management (52) alumnus, and MIT Professor David H. Staelin, at which they found they shared a common vision—to further MIT’s educational mission by providing entrepreneurs within the MIT community with mentoring, advice, and help in developing their enterprises. Each had deep MIT roots (Dave received his bachelor’s, master’s, and doctoral degrees from the Institute and has been on the faculty since 1965, while Alec has remained closely connected with MIT for several decades following graduation). Each also had extensive experience in starting companies and managing them to success – Dave at Environmental Research & Technology Inc., and PictureTel Corp., and Alec with the Institute for New Enterprise Development, Venture Founders Corp., Geodyne Corp., Massey Dickinson Inc., Nexabit Networks, and Kortec Inc.

From these backgrounds, their vision was developed—built around a shared belief that a fledgling business is far more likely to succeed when an idea, a good business plan, and an entrepreneur are matched with proven experience. With the blessing of the Provost’s Office, they set about developing a structure that could translate their vision into reality. The result is VMS, which was officially launched under the auspices of the MIT Office of the Provost in January 2000.

About

VMS supports innovation and entrepreneurial activity throughout the MIT community by matching prospective entrepreneurs with skilled volunteer mentors. We use a team mentoring approach with groups of 3 to 4 mentors sitting with a fledgling entrepreneur(s) in sessions that provide practical, day-to-day professional advice and coaching. VMS mentors are selected for their experience in areas relevant to the needs of new entrepreneurs and for their enthusiasm for the program.  Relationships between mentors and entrepreneurs are formed based on the needs of the entrepreneur and the interests of available mentors.

VMS assistance is given across a broad range of business activity, including product development, marketing, intellectual property law, finance, human resources, and founders issues. VMS services are offered without charge to MIT students, alumni, faculty and staff in the Boston area.

VMS complements and works cooperatively with the many MIT centers and programs promoting entrepreneurship and providing many resources to encourage formation of businesses and to move technological knowledge from the laboratory to the marketplace.

Key Members:

• Alec Dingee – Chairman & Co-Founder
  Alec Dingee brings extensive experience founding companies to VMS.  Previously, he was Chairman and founder of Kortec, Inc., a turn-key co-injection molding systems vendor. In addition, he was the founding CEO of the Institute for New Enterprise Development (founding startup businesses in depressed areas across the U.S.), of the Venture Founders Corporation (start-up venture capital funds), of Geodyne Corporation (oceanographic instuments), and of Massey Dickinson, Inc. (medical instruments). He was also the founding Treasurer and a Director of Nexabit Networks, a vendor of terabit switch routers that was sold to Lucent Technologies in 1999. Dingee is a graduate of MIT and a former instructor at the Sloan School of Management. He is a co-author of New Venture Creation: A Guide to Entrepreneurship (Irwin, 1985).

• David Staelin, PhD – Co-Founder
  David Staelin is a Professor of Electrical Engineering at MIT, where he joined the faculty in 1965. Dr. Staelin was Assistant Director of the MIT Lincoln Laboratory from 1990 to 2001 and a member of the President’s Information Technology Committee from 2001 to 2005. He co-founded PictureTel Corp. and was its Chairman from 1984-87. He was a Director of Environmental Research and Technology Corp. (1969-79) and of EMPower Corp. (1994-99). As a member of the MIT Commission on Industrial Productivity (1987-89), he contributed to Made in America: Regaining the Productive Edge. Dave received the S.B., S.M., and ScD. Degrees in Electrical Engineering from MIT. His teaching and research involve signal processing, estimation, and electromagnetics.

• Sherwin Greenblatt – Director
  From 2005 to 2007, Sherwin Greenblatt served as the executive vice president and treasurer of the Massachusetts Institute of Technology (MIT).  He retired from Bose Corporation in 2002, where he was the first employee of Dr. Amar Bose, his former professor at MIT. As a project engineer, he worked on the early development of Bose high fidelity loudspeakers and related electronic systems.  As the company grew, he held the positions of chief engineer, director of engineering, executive vice president and, for 15 years, president. He is a community and professional leader having been a member of the Board of Directors of the Federal Reserve Bank of Boston, served as Chair of the MetroWest Chamber of Commerce and as Chairman of the Board of Trustees at Framingham (Massachusetts) State College.  He currently is a member of the Board of Trustees of the Olin College of Engineering, the Graduate Advisory Board of Babson College and the Corporation of the Draper Laboratory.  Mr. Greenblatt holds S.B. and S.M degrees in Electrical Engineering from MIT.

• Roberta McCarthy – Operations Manager
  Roberta McCarthy joined the MIT VMS in 2001 with over 25 years of financial, administrative and management experience.  As Operations Manager she contributes to defining and executing VMS’s mission and strategic direction. She also provides the primary interface for the mentors, keeping them engaged in support of VMS and MIT.  Prior to joining VMS, Roberta was Business Manager/Controller of the Institute for New Enterprise Development (developing start-up businesses in depressed areas across the United States), and CFO of Venture Founders Corporation (start-up venture capital funds).

• Peter Miller – Co-Director
  Peter Miller is a mentor and as a Co-Director oversees VMS’s coordination with investment sources. Peter has more than thirty years’ experience in the entrepreneurial community, beginning by helping found a large local consulting and research firm (Abt Associates) while in the Masters’ program at MIT’s Sloan School of Management. Peter has worked with several successful software and Internet firms. He has quarterbacked business plan creation and successful fund-raising for six companies; and been board chairman of the International MIT Enterprise Forum. Mr. Miller’s current job is COO of Genomic Healthcare Strategies, a firm focused on strategy and IP in personalized medicine.

• Jerome Smith – Co-Director
• Jerome Smith is a mentor, and as a Co-Director manages the VMS Outreach Project which provides services to other academic centers and organizations interested in adopting the VMS model as part of their entrepreneurship efforts.  Jerome is a seasoned senior executive with over 37 years of leadership experience in the chemical, polymer, medical and imaging industries, and a proven track record as a turnaround specialist at the senior executive level.  He transformed four global DuPont businesses from loss or weak earnings positions to become strong, profitable and competitive units. He is recognized as a leader in major national and local non-profit organizations and has led strategic planning and development efforts for large and diverse groups. He holds a bachelor’s degree in mechanical engineering from the University of Texas and an MBA from the University of Delaware.

• Louis Goldish – Senior Venture Advisor
  Lou Goldish is primarily responsible for intake of new ventures at VMS. He was a founder and Managing Director of the consulting firm Data and Strategies Group and spent 35 years as a management consultant to corporations offering industrial, commercial, and technology based products and services. Prior to joining VMS he was Relationship Manager for a leading supplier of management software for very large databases and data-based enterprise systems. Goldish received a B.S. degree in Mechanical Engineering from Case Institute of Technology and M.S. degrees in both Mechanical Engineering and Management from MIT.

• Roman Lubynsky – Senior Venture Advisor
  Roman Lubynsky is also actively involved in intake and as a staff mentor is available on call for “entrepreneur crises”. He has over 25 years of experience in startups and with growing technology companies. He joined Fasfax Corporation, a pioneer in retail IT systems, when it was a startup, and advanced to Executive Vice President, heading product development, marketing, sales and professional services. In recent years he has founded several new ventures, including a management consulting firm and an e-commerce company. He holds an M.S. in Management of Technology from MIT’s Sloan School of Management.

• Gabriella Horvath – Office Manager
  Gabriella Horvath serves as the primary interface with entrepreneurs. She manages the enrollment process, engages in general communication with mentees, and organizes special networking events and training workshops. She overseas the scheduling of mentor meetings at VMS and contributes to the smooth operation of the office.  Her background includes front-of-house administration for a live theater and founding an independent cinema in Washington. Gabriella received an M.S. in Arts Administration from Boston University: she has done research for the Independent Scholar program of Americans for the Arts, and lectures on the role of the arts in urban revitalization.

• Andrea Hart – Administrative Assistant
• Andrea Hart is responsible for scheduling and administrative support of the VMS office. She graduated from Stetson University in 2006 with a BA in Fine Art. She worked for several years at the Museum of Florida Art, beginning as an intern and ending as Programs Associate, creating and implementing children’s programs and fundraising events. Andrea made the transition to Boston in May 2008 to begin the Arts Administration Masters Program at Boston University.  She started with the MIT Venture Mentoring Service in October of 2008.

 In January 31st, 2007 the Tata Group pulled off one of the biggest acquisitions in Indian corporate history. The Corus Group, an Anglo-Dutch steel and aluminum conglomerate was taken over by the Tata Sons against an astounding £6.7 billion at the rate of 608 pence per share against a Brazilian steel company that had bid 603 pence.” Ratan Tata is regarded as the doyen of the new era of business enterprises in the Indian mainland. The 21st century has at last, it is said, a true patron by whom the Indians can dream of a world contest by virtue of intelligence, entrepreneurship and perseverance. Of the very little information about Ratan Tata in the public domain, it is well known that he had a troubled childhood. Ratan Tata was born into an old Parsi family of Bombay, the first child of Soonoo & Naval Hormusji Tata. His parents separated in the mid-1940s, when he was about seven and his younger brother Jimmy was five. His mother moved out and both Ratan and his brother were raised by their grandmother Lady Navajbai. During college, Ratan joined Alpha Sigma Phi Fraternity (One of the oldest social fraternity of the United Statesfounded at Yale in 1845 ).In 1962, after graduating from Cornell University with a degree in Architecture and Structural engineering, Ratan joined the family business. Ratan turned down a job offer from IBM, following the advice of J.R.D Tata, and entered the family business. He was sent to Jamshedpur to work at Tata Steel. In true Tata fashion, there he worked on the floor along with other blue-collar employees, shovelling limestone and handling the blast furnaces. In 1971, he was appointed director-in-charge of The National Radio & Electronics Company (NELCO), a company that was in dire financial difficulty, no one; perhaps his best wisher even thought of its success. But Ratan realizing the potential that Nelco provided with an innate prudence that hi-tech was the way to go in the future; he lost no time and convinced J.R.D. Tata for further investment. Though J.R.D. was reluctant initially but the successes of Nelco proved the credence and aplomb of Ratan. This mindset of adopting risks towards the escalation of business gained a new stronghold when in 1991 the legendary J.R.D. Tata was replaced by Ratan epitomizing not only the change of the old guard but also a definite alteration of the shibboleth self-content of the erstwhile generations. By the time JRD passed away in December 1993, it was clear that Ratan Tata’s vision for consolidating group companies under the Tata Sons banner had the patriarch’s stamp of approval. As India’s second round of economic liberalisation got underway, the Tatas’ holding company gradually increased its shareholding in group companies like Tisco (now Tata Steel), Telco (now Tata Motors), Tata Chemicals and Tata Tea. Under him Tata Consultancy Services went public and Tata Motors was listed in the New York Stock Exchange. In 1998, Tata Motors came up with Tata Indica, the first truly Indian car. The car was the brainchild of Ratan Tata.

His aggressive approach towards business was best revealed when on January 31st, 2007 the Tata Group pulled off one of the biggest acquisitions in Indian corporate history. The Corus Group, an AngloDutch steel and aluminum conglomerate was taken over by the Tata Sons against an astounding £6.7 billion at the rate of 608 pence per share against a Brazilian steel company that had bid 603 pence. The merger created the sixth largest steel producing entity in the world and at once made Ratan Tata an immortal figure in the history of Indian corporate business culture. Another feather of success got attached with this man when he presented the latest Tata fourwheeler model Tata Elegante at Geneva on March 6, 2007. This model was appreciated by all the global dealers of four-wheelers. In the meeting he told the press about his Singursmall-car plant. According to him, manufacture is going to start there soon and the first small car costing around Rs 1 lakh is going to be launched by the middle of 2008. With the Tatas growing from Rs 13,000 crore group in 1993 to Rs 1.5 lakh crore following the acquisition of Corus, all eyes are now on the reclusive Ratan Tata. The US-educated bachelor lives alone with his two German Shepherds in an apartment in downtown Mumbai. He is known to slip into the front seat alongside his driver to and from work. He is the man who was instrumental in the setting up of the Tata Foundation, the progenitor of multitude of social causes that include the rural, universal health development, eradication of water scarcity and others. Known to guard his privacy jealously, Ratan Tata has been spotted at Parsi fire temples on festival days. He is known to be a supporter of the traditional Parsi way of life and is believed to have funded the religious education of community youngsters. However Tata’s publicists do not comment on this aspect of his life and the only bits of information trickle out from community members. He has a passion for homecooked food and is known to indulge deeply in art collection. Along the way, the trained pilot who still takes to the skies on his own aircraft has picked up a number of awards like the Padma Bhushan and Forbes Asia’s Businessman of the Year award. He serves in senior capacities in various organisations in India and he is a member of the Prime Minister’s Council on Trade and Industry. In March 2006 he was honoured by Cornell University as the 26th Robert S. Hatfield Fellow in Economic Education, considered the highest honor the university awards to distinguished individuals from the corporate sector. From being solely linked to the success of the Indian economy, the Tata Group under Ratan Tata is looking at other destinations. Even troubled destinations like Sudan and Iran are on Tata’s radar. Having taken birth in a family that has earned its fame in the history of indigenous entrepreneurship, whose ample evidences are scattered through the length and breadth of India he has done justice to his legacy, which has been proved eloquently in the later years. The Tata Titans 1. Jamsetji Tata: The founder of the Tata Group began with a textile mill in central India in the 1870s.His powerful vision inspired the steel and power industries in India.

2. Sir Dorab Tata: Through his endeavours in setting up Tata Steel and Tata Power, this elder son of Jamsetji Tata was instrumental in transforming his father’s grand vision into reality. 3. Sir Ratan Tata: A philanthropist all his life, he created a trust fund for “the advancement of learning and for the relief of human suffering and other works of public utility”. 4. JRD Tata: The late chairman of the Tata Group pioneered civil aviation on the subcontinent in 1932 by launching the airline now known as Air India. 5. Naval Tata: Naval Tata’s myriad contributions in the fields of business, sports administration and labour relations symbolised all that is best in the Tata spirit of giving back to society

Can you imagine a man with absolutely no money whatsoever going on to establish an empire worth over $525 million?

Well that is exactly what Mr. Raunaq Singh did. This is the true story of a man who came to India as a refugee after the Partition of India and started selling steel tubes, first on a bicycle and later from a small shop in Kolkata. Mr. Singh was an industrialist who took an early lead and built an empire from scratch.

That was a time when he could afford only a single paise a day for his meals, yet 40 years later he would go on to employ over 9,000 candidates directly and another 20,000 indirectly.

Mr. Raunaq Singh laid the foundation of his tyre manufacturing empire about 40 years ago and set the stage for India to become a major tyre producer. As a doyen of the business community in northern India as well as due to his expertise in the automotive sector, the Government decided to appoint him as the first chairman of Maruti Limited. He has also held senior positions in the Exim Bank, Export Credit Guarantee Corporation and the Indo-German Consultative Group.

Raunaq Singh’s corporate journey from Lahore to New Delhi, first as a steel tube merchant, then as a steel tubes manufacturer and finally as the founder of Apollo Tyres, has been the stuff of corporate folklore.

He started his corporate journey without a pedigree, higher education or money, essential ingredients for success in corporate India, making it possible for ordinary folks to dream big. He was among the first post-partition breed of businessmen who came to India after the creation of Pakistan with nothing to fall on.

Born on August 16,1922, at Daska in Pakistan, Raunaq Singh learnt the elementary lessons of business skills while being employed as a salesman of a steel pipes merchant in Lahore earning Rs 8 a month — a princely amount in those times. The seeds of entrepreneurship were planted when Raunaq Singh cashed in on an opportunity thrown up by the dearth of waterpipes in the areas around Lahore. The profits he, thus , earned were ploughed back in the form of setting up his own business in steel pipes.

ACHIEVEMENTS:

• He was president of the Federation of Indian Chambers of Commerce and Industry (FICCI), Associated Chambers of Commerce and Industry of India (Assocham), Punjab and Haryana Chamber, Automotive Tyre Manufacturers Association and the Federation of Indian Export Organisations (FIEO).
• He was chairman of the Indo-American Chamber of Commerce, Engineering Export Promotion Council and various joint business councils.
• He was also a member of the executive board of the Paris-based International Chamber of Commerce for three years.
• The Apollo group of companies includes Bharat Gears, Raunaq International, Raunaq Automotive Components and Menarini Raunaq Pharma and has over 9,000 employees.

His son Kanwar Onkar Singh took over as the chairman of the Apollo Tyres when Mr. Raunaq Singh became chairman emeritus of the group.

Raunaq Singh died on September 30, 2002.

On that day, India lost a charismatic first generation entrepreneur.

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Not even the wildest guess can tell you about the one common thing in these Brands. These Brand logos are all designed by the RAY+KESHAVAN, India’s top-notch Brand Identity and Design consultancy. A few more popular clients are Proctar&Gamble,HUL,Haywards,ITC,Reliance,etc..,They do everything that is concerned with Branding–establish a Brand,Make-over of an existing one,design a new look and strategy that would help the the brand permeate in to the targetted people. After getting the current image of their new client they then put up their creative thoughts that would establish a Strong Brand. Himalaya and MTR are among those Brands that went through remarkable profits after a make over from RAY+KESHAVAN Its not an overstatement to say that you will find atleast one Logo or Brand that is designed by RAY+KESHAVAN for every 100 m in any metro.

SUJATHA KESHAVAN & HOW IT ALL STARTED When SUJATHA KESHAVAN joined in NID National Institute of Design, Ahmedabad, in the 1970s, it was quite an audacious step. No one belived ‘Designing’ could be a profession as such at that time. She travelled from Banglore to Ahmedabad at the age of 16 changing three trains only to pursue her studies. After that she did her post graduation from Yale University School of Art. After working for a couple of years in US she returned to India but was job less. At that time there was no firm to hire designers. So she had to become an Entrepreneur and co-founded RAY+KESHAVAN in 1989 in Delhi with his boss RAY.Ray retired after a few years to come and R+K was shifted to Banglore in 1995.Now MEETA MALHOTRA is the Director and the other owner of R+K. With the increase in the awareness about Brand design and consultancy R+K has emerged as leading consultancy in that field. Now its become a part of THE BRAND UNION ,which is a wing of WPP Group Plc, the world’s second largest marketing communications groupand is soaring new heights.

The R+K Mantra: LIVE the Brand is their Mantra where LIVE is Learn-Introspect-Visualise and Execute. This is the principle that helps in conceiving the present image and delivering the right one.— Well let me finish this article with the acheivements of Ms.SUJATHA KESHAVAN.

1. She won Eastern Press award and the Schikle Collingwood prize for her creative Design work.

2. She has been The Graphic Designer of the Year twice, in 1992 and 1994. 3. First Indian woman to receive PG degree in Graphic design.

4. She is also the first woman to bring Apple Macintosh in India.