Posts Tagged ‘MIT Community’

MIT’s Venture Mentoring Service: A Flexible Offering for the Entire MIT Community

July 5, 2011 Comments off

A former CEO of a company that owned two ESPN affiliate radio stations, Jessamy Tang has served as a mentor with the MIT Venture Mentoring Service (VMS) since 2007. VMS takes advantage of MIT’s substantial network of alumni and faculty who have achieved entrepreneurial success. In particular, it seeks to educate and assist early-stage technological innovators. Now in its tenth year, the Venture Mentoring Service advances entrepreneurial activity by helping ventures address new global challenges, understand complex financing opportunities, deal with changing technologies, and more.

The Venture Mentoring Service offers mentoring to the entire MIT community, including staff, faculty, students, and alumni who are in the Greater Boston area and are active in the venture. Anyone who has an idea that he or she would like to transition into a business can benefit from the service. Rather than selecting ventures based on the likelihood of success, the VMS program encourages entrepreneurship and has had over 1,400 entrepreneurs and 850 ventures enrolled with VMS. VMS’ hands on mentoring has proven to be effective with over $710 million collectively raised in financing and about 130 ventures becoming operating businesses. While mentors often have invaluable insights to provide, VMS stresses that its service is educational only, with business decisions remaining under the full control of the entrepreneur. As an MIT alumni and VMS mentor, Jessamy Tang gives back to the innovation-driven community that inspired her to pursue a successful ventures in media.