= Overview<br/> =
= Strategy #1: Encouraging Risk Taking =Yale has increased its investment in innovation, largely spurred by a grant from Joseph Tsai to create Tsai CITY, the on-campus center welcoming diverse students to pursue innovative ventures, projects, and initiatives. However, one of the main barriers to taking that first step to focused innovation is a perception of innovation as starting a company. Another hypothesis is that students' fear of failure poses another barrier to trialing innovation and creation. We aim to tackle these challenges through the following strategic priorities.
Yale students generally do not like taking risks. We need to find a way to encourage risk taking. The top 15% = Strategy #1: De-risking the pursuit of students from many schools, Yale included are swept away to work in New York and consulting and financial companies. These are the students who are most likely to succeed with their own business. These are the smartest people that you want to be working on the biggest problems in the world. Instead, rational thinking about stability innovation and security has prevented entrepreneurship from being a valid goal that they strive for.new ventures =
Yale students are passionate peoplegenerally do not like taking risks, and it is really easy so we need to excite someone about find a meaningful and valuable goal. Social entrepreneurship is thus an effective way to provide motivation because it takes a different set encourage risk-taking. The top 15% of metrics into account and encourages people to look at impact instead of stability as "success." Clubs such as engineers without borders take service trips and formally structure them. This allows students from many people schools, Yale included, are swept away to work together on a project in New York and consulting and succeed easily where a single person may have a hard timefinancial companies. Having a larger group usually makes activities less risky, so trying These are the students who are most likely to bring people together is an easy way to minimize risksucceed with their own businesses. Another way this can be done is by showing 100 These are the smartest people that if we assign their passion/idea you want to a slightly more general problem, we can easily link multiple people with be working on the biggest problems in the same interestworld. ThusInstead, 100 startups with 1 person each can easily become 10-20 groups of like-minded individuals all working towards the same end rational thinking about stability and security has prevented entrepreneurship from being a valid goalthat they strive for.
Finally, groups such as One opportunity for de-risking is providing course credit to students who pursue their own ideas. In the Yale Entrepreneurial Institute are making progress towards structuring the process School of innovation Management (SOM), for example, students can take Startup Founders Practicum to earn course credit for working on their own venture. There is also a class offered called "Making it." Additionally, Tsai CITY offers a semester-long accelerator in which teams receive both funding and providing mentorship at every stepguidance to build out their ventures. Having someone Innovation Advisors (IAs) who has have gone through the process guide you teams in the accelerator can make students feel safe when they're starting a new company .
= Strategy #2: Creating a Support Network Also at SOM, the Global Social Entrepreneurship (GSE) course allows students to partner with global non-profits and for Engineering Leaders =-profits to tackle real-world problems. These kinds of guided entrepenuership classes and clubs help to ease people into the idea of innovating. Successive failures can be demoralizing, especially for younger students, so these kinds of activities are especially useful for undergraduates, or anyone who might be exploring innovation and entrepreneurship for the first time.
Leaders often run into the same problems in vary different situations and environments. It would be = Strategy #2: Creating a powerful tool to have a group of students who regularly met to discuss these general leadership problems and how to fix them. This can be the form of something as simple as a weekly or bi-weekly brunch, or in something as formal as a leadership forum. Either way, having these leaders would be a valuable resource for the members of the group, and also for anyone who would like to join the group of leaders as a leader themselves. Seniors who know the ins and outs of the engineering department (where funding can be found, fastest ways to get approval, who to talk to for outside sponsorships etc.) need to pass this information along or else time is wasted re-learning something that has already be attempted and accomplished Support Network for several years. Incorporating alumni into the system would make it even more valuable because they have experience from outside Yale that they can bring to the table. Those Pursuing their Ideas =
= Strategy #3: Creating Entry Level Positions Leaders often run into the same problems in very different situations and environments. It would be a powerful tool to have a group of students who regularly meet to discuss these general leadership problems and how to fix them. This can be in the form of something as simple as a weekly or bi-weekly workshop (e.g., SOM's Startup Club's weekly workshop), or in something as formal as a leadership forum. Seniors students know the ins and outs of the school (e.g., where funding can be found, fastest ways to get approval, who to talk to for Entrepreneurship<br/> =outside sponsorships etc.) can pass this information along to avoid other students re-learning something that has already been attempted and discovered.
Making sure Incorporating alumni into the system would make it even more valuable because they have experience from outside Yale that they bring to provide the table. Several of the students who we spoke with mentioned they chose thier current careers based on alumni or faculty mentors who had done similar careers. = Strategy #3: Creating Entry Level Opportunities for Entrepreneurship<br/> = Providing a way for anyoneall, even someone with no experience , to get involved in innovation is important for getting gaining new students involved, and retaining them throughout their time at Yale. We need to find a way to encourage roles stimulate opportunities for freshmen and sophomores in Yale College, or first years in the graduate programs, that will work with their limited engineering skillset and enable them to create without knowing advanced physics or 3D modeling. Perhaps working with freshmen This could come in the form of participating in day-long design and sophomores as leaders while juniors and seniors help lead but innovation sprints. It could also do the heavy lifting on the engineering front. This encourages big ideas look like instigating small internships for younger students and gives older either at Yale or in early-stage startups such that students can have the opportunity to take a deep dive without sacrificing the longevity of a project or club'taste' entrepreneurship and innovation.<div></div> = Strategy #4: Give Students More Time Opportunities to Create Innovate = If Yale can somehow make students less busy with coursework, they can encourage students to spend that free time innovating. Almost everyone I talked to said they would innovate and think big if they had time to do so. <br/><br/>Google values this kind of "free time" very highly. Every employee is given 20% time, a time where they can work on thier own ideas that may or may not directly relate to their work. If we consider a student's full schedule, 20% would be a significant number of hours. 20% is approximately one class per semester here at Yale, and we think that there should be required entrepenuership, innovation, or independent work class. This is a new kind of thinking that should not be left out of a liberal arts education simply because it is new. <div></div>
Certain classes currently exist that are heavily lab based and involve students playing with arduinos, sensors, and other basic electro-mechanical elements to create projects. At the end of the semester, the class of predominantly freshmen were able to complete and present engineered solutions to a plethora of problems. Working in small 3 people groups, they developed a range of products and projects, simply because they were given the time to do so. If Yale can somehow make students less busy with coursework, they can encourage students to spend that free time innovating. Almost everyone I talked to said they would innovate and think big if they had time to do so.
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= Strategy #5: Teach Students the Basics of Entrepreneurship<br/> =
Into MicroIntro micro-economics is the bread and butter of a Yale Education. The class is always taught, and is the fundamental class many Yale students take at some point during their time here. It is a basic overview of rational thinking, and is a fundamental course in an undergraduate's Yale Education. An equivalent style class for innovation would be an amazing move a strong step towards completely changing the way our campus looks at engineering and innovation. At a school as traditional as YaleIn SOM, for example, it is important that we students are required to take time to explore the wild possibilities, and many people get locked into a conservative viewpoint early in their time here"Innovator. There should be a contrast to intro economics" However, the this class that all Yalies want does not occur until Spring semester 2, meaning students are left without any concrete training related to take, innovation and that will ideally be taught by an engineerentrepreneurship for the frst 6 months of their limited 2-year education. <div>= Strategy #6: Increase the Reach of Engineering and Advertise Better<br/div> =
Many students on campus will never see = Strategy #6: Increase the amazing creations that are made in the labs on science hill. the portion Reach of campus is separated from the housing buildings, off to the side by less than 2 blocks, but ends up being a space were not many non science majors venture. Why is it the case that engineers do not present their senior projects to a broader audience than just the engineering students and faculty. Yale has programs such as the Mellon Forum, a student presentation series where people can show their senior research and studies to their peers. This is underutilized by engineers; once the word gets out about projects happening, people will come and want to help. Student Sharing<br/> =
There is opportunity to create more cross-school content and programming that allows students to share their work as well as learn from the work of their peers. In SOM, this occurs in a fragmented way. It might occur during a lunch session in the Social Impact Club. Or it might happen in a classroom. In the college, there are events like 2019's "Chun Challenge for Change," a pitch night in which the Dean of Students judges students' ideas related to solving the most proessing challenges impacting students.
One opportunity could be creating a podcast on which we host a weekly Q&A/background with a student founder. This enhanced reach could help demystify the belief that there is a high barrier to becoming a "founder" or launching a "venture."
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= Related Links =
[[Chinmay Jaju]]
[http://universityinnovation.org/wiki/Sarah_Graf Sarah Graf] (2019)
[http://universityinnovation.org/wiki/Nitya_Kanuri Nitya Kanuri] (2019)
[http://universityinnovation.org/wiki/Ayushi_Shrivastava Ayushi Shrivastava] (2019)
[http://universityinnovation.org/wiki/Kira_sze Kira Sze] (2019)
[[Category:Student Priorities|Student_Priorities]]
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[[Category:Yale_University]]
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