Wednesday, September 16, 2009

New MIT Forum Concept Clinic: October 15

It is true what they say - better write again than never. It has been a while for me - busy summer, helping a few great start-ups, including my favorite
- the first place where traders of foreign currencies connect and collaborate based on their real trades. But it is that time again - I am organizing the next MIT Forum concept clinic on October 15.

Concept clinics focus on start-ups who have not yet been funded (can be angel funded but no institutional funding yet). Usually these are start-ups with a winning idea/ good potential, but not a fully baked their business plan and execution yet. The goal of the concept clinic is to help these entrepreneurs get feedback from a panel of qualified participants so they can finalize their business plan and shop it for funding.

One company presents for the night - 6:30 to 8:30. Based on the needs of the company, the Forum helps bring together 3-4 experts. We break the room into 3-4 groups - each expert is then in charge of moderating an interactive discussion with their group around a question that is critical to the entrepreneur's success. We work with the entrepreneurs to come up with the discussion questions so experts know in advance what subject area they are covering (usually within their area of expertise).

The benefit for the start-ups - they gain exposure for their idea not only among the attendees, but among the Forum members (the MIT Forum promotes these events via member emails, their web site, etc. - here's a link to the Forum's web site) and the broader start-up and investment community in Boston. They also get great, actionable feedback, which helps them to finalize their business plans for funding. There are no restrictions on industries/types of start-ups.

I got some great start-up suggestions already - stay tuned - I will be sharing those with you over the weekend - and will need your vote on which stat-up to choose. Feel free to check the other Forum events, including the next start-up clinic where two cool new start-ups will present their challenges.

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