Seyed Masoud Hosseini · Overview · Study log · Weekly summaries · Ideas · Search · Transcript · RSS feed

New Enterprises · Lecture 8 of 12 · 1:48

Lecture 8: Our Passion for Entrepreneurship at MIT

Study guide

What this lecture covers

In this short, reflective talk, Aulet steps back from the course mechanics to explain the motivation behind MIT's focus on entrepreneurship education. He connects it to MIT's mission of applying science and technology to the world's greatest challenges, and argues that entrepreneurship gives young people a path to create their own jobs when governments and large companies will not.

Watching this gives context for why the course exists and what Aulet believes entrepreneurship can offer beyond building companies.

Key ideas

MIT's mission: to advance science and technology in service of the world's greatest challenges.
Hope: entrepreneurship lets young people believe they can create their own jobs rather than wait for one.
Pride: building something of your own, even something small, creates a sense of ownership and pride.
Rigor: running a startup demands self-discipline, since nothing happens unless the founder makes it happen.
Jobs of the future: Aulet argues future jobs will increasingly have to be created by individuals, not governments or large companies.

Before you watch

No specific prior lecture is required; this talk works as a standalone statement of purpose for the course.

Check your understanding

What three qualities does Aulet say entrepreneurship brings to young people?
How does Aulet connect entrepreneurship to MIT's broader institutional mission?
Why does Aulet believe individuals, rather than governments or big companies, will need to create future jobs?

Vocabulary

mission (noun): The core purpose or goal that guides an organization's actions.
MIT's mission is to apply science and technology to major world challenges.
hope (noun): A feeling of expectation and belief that something good can happen.
Entrepreneurship gives young people hope that they can create their own future.
pride (noun): A feeling of satisfaction from your own achievements.
Building something of your own creates a real sense of pride.
rigor (noun): Strict care, thoroughness, and discipline in doing something.
Running a startup demands real rigor from its founder.
self-discipline (noun): The ability to control your own actions and stay focused without outside pressure.
A founder needs self-discipline because nothing happens unless they make it happen.
institution (noun): An established organization, especially one with a long history and clear purpose.
MIT is an institution built around scientific progress.
reflective (adjective): Thoughtful, taking time to consider ideas deeply.
The lecture takes a reflective look at why entrepreneurship matters.
standalone (adjective): Able to be understood on its own, without needing other material first.
This talk works as a standalone statement of purpose.
step back (phrasal verb): To pause and consider something from a broader perspective.
Aulet steps back from the course mechanics to explain his motivation.
purpose (noun): The reason something exists or is done.
The talk explains the deeper purpose behind the course.
challenge (noun): A difficult problem that requires effort to solve.
MIT applies science to the world's greatest challenges.
ownership (noun): The feeling or fact of having created or being responsible for something.
Building your own company creates a real sense of ownership.
motivation (noun): The reason or drive behind a person's actions.
Hope and pride can be powerful motivations for young entrepreneurs.
connect (verb): To link two ideas or things together meaningfully.
Aulet connects entrepreneurship to MIT's broader mission.
advance (verb): To move forward or make progress in something.
MIT aims to advance science and technology.
believe (verb): To accept something as true or possible.
Aulet believes entrepreneurship can offer more than just profit.
opportunity (noun): A chance to do something good or beneficial.
Entrepreneurship gives young people a genuine opportunity to build their future.
context (noun): The background information that helps explain something.
This talk gives context for why the course exists.
path (noun): A way of proceeding toward a goal.
Entrepreneurship offers a path to creating your own job.
statement of purpose (phrase): A clear explanation of the reason and goals behind an effort.
The talk serves as a statement of purpose for the whole course.

From the YouTube description

MIT 15.390 New Enterprises, Fall 2013
View the complete course: http://ocw.mit.edu/15-390F13
Instructor: Bill Aulet

Bill Aulet discusses of why he and others at MIT are so passionate about entrepreneurship, and why entrepreneurship is an important tool for solving some of society's key problems from energy to healthcare to education.

License: Creative Commons BY-NC-SA
More information at http://ocw.mit.edu/terms
More courses at http://ocw.mit.edu

← Lecture 7: What is a Beachhead Market · Lecture 9: Market Segmentation with SensAble Technologies, Part I →