MIT Venture Mentoring Service Venture Information Form
If you do not have a name, please insert TBD.
|Sandbox Innovation Fund|
|IDEAS Global Challenge|
List primary contact first:
(Please list the best email address for us to reach you. It does not need to be your MIT email address.)
Please check one:
To help us best serve you, please answer a few questions about your venture. Don’t worry about developing your responses formally like you would in a business plan. No deep details or financials are needed – just tell us what you think and envision at this point. Use everyday language as if you were explaining these things to your friends or family.
1. What do you do?
Please provide a succinct 1-sentence description of what you do:
Example: Something like “we create and sell game software for consumers". “We are the X for Y” can work very well here – example: YouTube’s concept statement was “Flickr for video”.
2. What is the problem?
In a few sentences, please describe what problem you are solving:
Example: The amount of junk mail in everyone's email inbox is growing despite attempts to fight it. You can't be sure who sent you the mail. In addition to wasting time and being annoying, this poses threats to security, spreads viruses and clogs up networks.
3. Who has it?
In one or two sentences, describe who has this problem:
Example: This is costly for everyone in the chain: end users, IT departments and ISPs.
4. How will you solve the problem?
- In a few sentences and in completely NON-TECHNICAL terms, please describe how you expect to solve it:
Example: We have software that guarantees that the sender is who they claim. This can be implemented at ISPs and enterprises, allowing the entire chain to validate every email's origin and discard invalid messages before they travel further.
5. How will you make money?
In a few sentences, describe who will use it, who will pay you and how you envision selling to them. Again, you do not need to provide in-depth financial details.
Example: We will sell our software and services directly to the ISPs, web mail providers like Google and Microsoft, and F1000 companies through direct sales. We will provide a free add-on for email clients like Outlook so end users can easily adopt it.
6. What is the secret sauce?
In a few sentences, describe what is special about your solution and product:
Example: Breakthrough identification algorithm that can be inserted into the backbone system at a switch level. Based on cutting-edge research developed under government grants by the founders as MIT researchers.
7. Is there IP?
In a few sentences describe the IP status. Also if you are a student, is this venture idea based on your research at MIT? If yes, has it been disclosed to the MIT Technology Licensing Office?
Example: Have exclusive license to the MIT patents for the underlying technologies as well as further company-owned IP.
8. What is your current status? It’s just fine to be very early in the process, even at the idea stage. Please check one:
|Ready to launch|
9. What type(s) of VMS help do you think your startup needs? (please check all that apply)
|Commercial potential of technology|
|Early Team formation|
|Occasional Informal feedback|
Additional Comments: If there is anything else we should know about your venture, please let us know here.