MITCNC BOD Meeting, July 28th, 2009 MITCNC Summer Board Meeting July 28, 2009.

MITCNC BOD Meeting, July 28th, 2009

MITCNC Summer Board Meeting

July 28, 2009

2MITCNC BOD Meeting, July 28th, 2009

Agenda• Dinner 6:00 – 7:00 PM

• Club Operational Review 7:00 – 7:45 PM– President’s Report Nelson Lin

– Treasurer’s Report Mike Sarfatti

– IT Status Javed Samuel

• Breakout Sessions (concurrent) 7:45 – 8:30 PM– Evolving Alumni Demographics

– Sponsorship

– Club Operations in Challenging Economy

• Breakout Sessions (summary) 8:30 – 9:00 PM

• Board Business 9:00 – 9:15 PM– Approve minutes Elizabeth Reierstad

– Document Storage John Chisholm

– Nominating Committee Ron Koo

– Scholarship Contribution Bill Murray

• Closed Executive Session 9:15 – 9:30 PM


Highlights from the Last Six Months

• Addressed Cash Concerns

– Cash position exceeds forecast by $14k

– Reduced operating costs ~ $5k

• Predominantly from replacing printed Spring newsletter with electronic newsletter

• Postcard announcements of newsletter mailed to alumni inaccessible via email

– Event revenue exceeded forecast by ~ $9k

• Clean Tech and Angel Investment events particularly strong contributors

• Continued to build volunteer base

– Five new officers, including transplants from Boston and NY

– Additional volunteers

• Enhanced IT training materials nearly complete

– Core goal is to support volunteers to leverage system’s functionality

• Resurrected Programs

– Career Development

– Clean Tech

Note: FY2009: August 1 – July 31.

1H 2009


Event Highlights – Past Six Months

Date Event Attendees Thanks! to

July 18th Sloan Volunteer Day 15Eric Silverberg / Bob

Meese

June 20th Semiconductor / Clean Tech Mixer + Eleanor the MIT Solar Car

80 Alissa Fitzgerald

June 18th Happy Hour with Stanford and Princeton Alums

160 Elizabeth Lin

May 20th Tyler Jacks on Cancer Research / Inspirational Teacher Awards

80 Bill Reenstra

May 11th / June 8th

Starting a Career in Cleantech (Parts I and II)

100 / 85 Shuja Keen

April 23rd Solving the Puzzle of

Personalized Medicine30

Geetha Rao / Elizabeth Ng

1H 2009


New Additions to the Leadership Team – Past Six Months

• Rohit Gupta ’05 – VP Entrepreneurship

• Mike Bowles ’80 – VP Career Development

• Eileen Tanghal ’97 – Director Clean Tech Entrepreneurship

• Mindy Hsu G’06 – Partner Organization Liaison

• David Lackner G’99 – Emerging Technology Council Chair

1H 2009


Report Card: Two-Year Overview

External Goals Progress Against Goals

Maintain highly successful programs

– Revitalized programs: Sloan Club, Clean Tech, Career Development

– New programs: Angel Investing, Emerging Technology Council

– Some programs defunct: Nanotech Forum, Sacramento

Reach out to alumni in East Bay and beyond

– East Bay successful (thanks to Bill Reenstra)

– Room for improvement in SF (new venues for SF events may help)

– Leader needed in Sacramento

Continue selected community outreach

– Still more opportunities to work on

– Joel West recently brought on board to lead program

Internal Goals Progress Against Goals

Expand volunteer base

– Natural attrition of some leaders / volunteers offset by strong additions to leadership team

– As volunteer organization, the need to bring in new volunteers is on-going

Upgrade IT system– IT conversion complete, new system functions well, but

continued training and effort needed to maximize benefit

2007-09

ExcellentPoor


Maintaining successful programs

Club Year Statistics1:

• Approximately 100 events

• ~3,000 estimated total attendance

• Resurrected programs– Sloan Club of Northern California

– Career Development

– Clean Tech Entrepreneurship

• New Programs– Angel Investing

– Emerging Technology Council

2008-09

1. Club Year runs from Aug 1, 2008 through July 31, 2009

2. Some events can cross categories; e.g., some East Bay lectures cover Scientific Topics, and some Sloan events are social in nature; some events not on club calendar not included in total

Events by Type2 (N~100)

10%

10%

8%

41%

Entrepreneurship

23%

Social

East Bay

9%Sloan

Other

Science & Tech; Life Sciences


Striving for Geographic Diversity

• Almost half of events outside of the Silicon Valley

• Continuing push for expanded event coverage beyond Silicon Valley

2008-09

Events by Location (N~100)

53%

14%

14%

East Bay / Sac

19% SF

North Bay

Silicon Valley


Thanks to our Sponsors

Sponsorship Sponsor Amount

Spotlight

Corporate SponsorsPalo Alto Investors $5,000

Seifel Consulting $5,000

Individual Sponsors

Kenneth Allen -- Townsend and Townsend and Crew

$1,000

Jeffrey Heller – Heller Manus $1,000

Charles Salter – Charles Salter Associates

$1,000

Anonymous MITCNC Member $1,000

VIP Reception Sponsor MIT Resource Development Office $3,000

Other

Tyler Jacks / Cancer

Research Event Sponsor

MIT Professional Education $500

Total Sponsorship $17,500

2008-09


The following in-kind sponsors help the club tremendously by hosting events and providing catering and logistic support:

WSGR

Cooley Godward Kronish

Google

Townsend and Townsend and Crew

In-kind Corporate Sponsors Continue to Support the Club

2008-09


Thanks to our Entire Officer Team!

* New to team in 2008-2009

2008-09

Leadership & Infrastructure

Immediate Past President – Ben Matteo

Executive Vice President – Catherine Calarco

Treasurer – Mike Sarfatti

Secretary – Elizabeth Reierstad

VP Communications – Monika Gorkani

VP Membership & Volunteer Int. – Andrey Titov*

Director Volunteer Integration – Alison Chaiken

Partnership Organization Liaison – Mindy Hsu*

Entrepreneurship Program

VP Entrepreneurship – Rohit Gupta*

Director Angel Investments – Shuja Keen

Director Boomertech – Mike Sarfatti

Director Convergence, Community and Commerce –

Vandana Upadhyay

Director Semiconductor – Alissa Fitzgerald

Director Clean Tech – Eileen Tanghal*

Director Venture Mentoring – Jennifer Wang

Science & Technology

Director Life Sciences Forum – Elizabeth Ng

Director Science Lecture Series – Charles Zhou

Emerging Technologies Council Chair – David Lackner*

Community Programs

VP East Bay Events – Bill Reenstra

VP Career Development – Mike Bowles*

VP Social Communities – Daphne Lin*

Director Sports & Recreation – John Keen

Director MIT10 – Elizabeth Lin

K-12 Educational Outreach – Joel West*

Spotlight Chair – Brad Schneider

Affiliate Organizations

Co-President Sloan Club – Eric Silverberg* and Bob Meese*

AMITA Liaison – Radha Nayak


Treasurer’s Report

Mike Sarfatti ‘76


Cash Reserves, up 10% yr/yr, ending $14k higher than forecasted in February 2009

• Main factors leading to higher than forecast year-end reserves are cost savings from electronic newsletter (~$5k) and increased event revenues in past six months

$87

$136

$93

$113

$87

$98

Feb ’09 Estimate

$82

$0

$40

$80

$120

$160

July 2006 Feb 2007 July 2007 Feb 2008 July 2008 Feb 2009 July 2009

Cash Balance

Scholarship $25k $50k $25k $25k - -

Kintera / IT - - - ~$10k ~$15k ~$3k

Major Uses of Cash

$96

$ T

ho

usa

nd

sFY 2008-09

10%


Financial SummaryFY 2007-08 FY 2008-091

Income

Events $52,418 $51,573

Sponsorship $ 15,800 $17,500

Membership Dues and Donations $29,126 $32,130

Bank Interest $ 2,008 $0

Total Income $99,352 $101,203

Expenses

Events $24,842 $43,202

Printing, Postage, Mailing2 $ 25,626 $8,714

Administrative $18,278 $19,246

Internet $ 11,063 $13,728

Processing / Banking Fees $1,721 $2,197

Total Expenses $81,530 $87,087

Scholarship Fund Contributions $25,000 $3,141

AMITA (estimated co-mingled funds) $5,489 $5,749

Net Increase in Cash Reserves ($7,178) $10,475

FY 2008-09

1. As of 1 July 2009. Final Fiscal Year totals may differ.2. 2007-08 had 3 newsletters and color brochure for membership recruitment; 2008-09 had 1 printed newsletter and traditional letter / card


Membership Update

Andrey Titov ‘07

Manjari C. Bhatia ‘98


Membership increased 14%, matching growth in our alumni database

2003-04 2004-05 2005-06 2006-07 2007-08 2008-09

Registration 1,056 966 898 942 917 1,047

% Y/Y growth -8.5% -7.0% 4.9% -2.7% 14.2%

% Penetration 12.1% 10.8% 9.7% 10.0% 9.6% 9.6%

Area Alums 8,724 8,963 9,236 9,375 9,575 10,911

% Y/Y growth 2.7% 3.0% 1.5% 2.1% 13.9%

1,056966

898 942 917

1,047

0

200

400

600

800

1,000

1,200 MITCNC Membership Registration


Paid Membership increased 23%, with gains in all categories1

1. Potential contributing factors to increase: Spotlight, Kintera (bundled event and membership registration), and economic environment driving alumni to network

2. Free Memberships include Recent Grads (Class of ’06, ’07, ‘08); Cardinal & Gray Members; and current students.

636

497

604

108

80

100

70

57

76

128

283

267

0

200

400

600

800

1,000

2006-07 2007-08 2008-09

942 Total917 Total

1,047 Total

Free Members2

Patron

Sustaining

Regular


On-line registration continues to grow in popularity

On-line memberships are immediately processed (benefit to member); mail-in registration requires manual processing and can take months for database to update

Percent of Membership Registrations Conducted On-line

24%

19%

32%

42%

54%

64%

0%

10%

20%

30%

40%

50%

60%

70%

2003-04 2004-05 2005-06 2006-07 2007-08 2008-09


New IT System and Website

Javed Samuel ’04


New website – by the numbers

• ~50 MITCNC events created and managed by Kintera

• ~170 membership registrations

• ~$16,000 from event registration fees

• ~11,500 hits to the home page per month

• ~3,000 hits to calendar page per month



Benefits of new Kintera system

• Decentralized administrative tasks, eliminating bottleneck for posting events to website (see next slide)

• Better Event Management and Reporting tools

– Easier to performs tasks such as refunds

– Discount Codes for affiliate groups

– Reports segmented by registration type

• Bundled membership and event registration

• Enhanced website functionality

– Upcoming Events

– News feed from MIT



Kintera decentralizes website administration


Admin

Event Org

Event Org

Event Org

Event Org

Event Org

Event Org

Event Org

Event Org

Home page / Calendar

Calendar

Event Org

Event Org

Event Org

Event Org

Event Org

Event Org

Event Org

Event Org

Admin

Home page

Original Website

Kintera Website


Kintera – outstanding items and future plans

• Improved Instructions for Officers and Volunteers.

• Further Synchronization with MITAA

• Membership drive

• Migration of email lists currently on Topica


24MITCNC BOD Meeting, July 28th, 2009MITCNC BOD Meeting, July 16th, 2008

www.mitcnc.org/mitangels

Shuja Keen ’99

VP Angel Investment


MIT Angels Overview

• Facilitate introduction of MIT-affiliated entrepreneurs and investors

• Engage the start-up community with committment to invest time and money into cutting-edge, early-stage businesses

• Invite MIT Angels with broad experience and interest in technology, semiconductor, energy, general management, entrepreneurship, finance, consulting and law

• Quarterly meeting - Invite 3 startups per meeting that can benefit from advice or investment (preference for companies started by MIT alum entrepreneurs)

• Deal Selection Team evaluates more than 50 business plans to select the 3 presenting companies


Significant interest in MIT Angels

• Co-hosted events– June 13, 2009: Cleantech Pitch Lunch at Computer History Museum

• Co-hosted with Organization of Pakistani Entrepreneurs (OPEN)

• 30 applications – invited 8 companies to present. 50 investors attended.

• Sponsorship / Media Partner– June 26, 2009: Financing the Cleantech Vision

• Hosted by Reuters & Ventures Capital Journal

• 60% discount for MIT Alums

– June 3-5, 2009: 20th Annual Venture Capital Investing Conference

• Hosted by IBF & National Venture Capital Association

• 55% discount for MIT Alums

– Monthly: Keiretsu Forum events


MIT Angels – Next Steps

• Expand the team

• Secure a regular meeting place– Member meetings for MIT Angels / investors

– Pitch meetings

• Strengthen relationships with other Angel Groups– Band of Angels

– The Angels’ Forum

– Sandhill Angels

– Harvard Angels

• Create ties with Industry Associations– National Venture Capital Association etc


Specific Roles within the MIT Angels Team

• Member Outreach Committee

– Reach out to potential Angels – MIT entrepreneurs, investors, and other professionals

• Deal Sourcing Committee – leverage synergies across MITCNC– MIT Venture Mentoring Service

– Interest groups (cleantech, semi-conductor, technology, bio-tech, etc)

– Reach out to MIT Entrepreneurs / professionals

• Deal Screening Committee

– Meet quarterly to select presenting committees at the quarterly Pitch meeting

• Entrepreneur Advocate Committee

• Sponsorship Team


MIT Angels – Upcoming Events

Upcoming Events

Aug 26th Deal Screening Meeting – Only Deal Committee to review proposals

Sep 23rd Quarterly Pitch Meeting

Nov 11th Deal Screening Meeting – Only Deal Committee to review proposals

Dec 9th Quarterly Pitch Meeting

• Investor-Only Events

– Targeting potential Angels – focus on investor educations and sharing of best practices

• Quarterly Pitch Events

– Deal Screening Meetings

– Pitch Meetings


Emerging Technologies Council

Knowing is not enough; we must apply.- Leonardo da Vinci

David Lackner G‘99


Overview: What is ETC?

• Like-minded group of R&D professionals drawn from multiple disciplines who are searching for, creating, developing, and harnessing next-generation technologies

• Common bonds

– At the cutting edge of technology in their field

– Innovative development & commercialization paths required

• Focus on hardware and “engineered” technology

• ETC is NOT about incremental technologies nor those that are close to commercialization


Purpose: What are ETC’s goals?

• To create a physical and virtual space for R&D professionals to exchange ideas about emerging technologies

• Reinvigorate the world of engineered things

• Introduce and explore new theory and practices in interdisciplinary design and product development

• Explore new tools that allow “responsive creativity” like rapid prototyping

• Expand on the renaissance of makers and open source developers


Inaugural Event

• Purpose: “pre-EmTech” for those who are attending the MIT EmTech Conference

• Invited speaker:Bill Reinert, National Manager, Advanced Technology Group, Toyota Motor Sales USA

• Where: TBD

• When: Week of Sept 14th, 2009; Prior to MIT EmTech 09 (Sept 22nd – 24th)

34MITCNC BOD Meeting, July 28th, 2009MITCNC BOD Meeting, Feb 17th, 2009

Career Development

Mike Bowles ScD ‘80

35MITCNC BOD Meeting, July 28th, 2009MITCNC BOD Meeting, Feb 17th, 2009

Career Development Activities

• Scheduling 1st Three Outside Speakers

– Career coaching

– Using social networking as career development tool

– Considering consulting?

• Developing Career Development Team Infrastructure

– Bring Web Page up to Date

– Established Wiki for Team Use and Institutional Memory

– Setup Team Communication and Scheduling Processes


Sloan Club

Eric Silverberg, Bob Meese, Ajit Dansingani, Abhinav Khushraj MIT Sloan ‘08


Recent Events

• April 9th happy hour with Kellogg

– After-work event at Orson in SF

– Organized by Bob Meese and Kellogg

– Gathered about 20 Kellogg alums, 20-25 Sloan Alums

• May 20th happy hour for new admits

– After-work event at Bacar in SF

– Organized by Eric Silverberg & Bob Meese

– Gathered 10-15 new admits/guests, 15-20 alums

• June 18th cocktail hour with Stanford & Princeton

– After-work event at Melt in Palo Alto

– Organized by Elizabeth Yin

– Gathered >100 total participants, >20 MIT/MIT Sloan alums


Recent Event: MIT Sloan Volunteers in the Marin Headlands

July 18th, 2009

Planting flowers for the Golden Gate Conservatory


Upcoming Events

• MIT Sloan Summer Gathering, August 12th – Featuring Professor Richard Locke

– Hosted annually by Richard & Susan Owen

– Organized by MIT Alumni Association

– The largest Sloan gathering of the year!

• North Bay Gathering– Organized by Herb Meyers, Albert Richards

– Venue, date still be decided

– Alumni association has offered to let us use their mailing list for a date/venue survey


Clean Tech Entrepreneurship

Eileen Tanghal ‘97


Cleantech Entrepreneurship

• Established in 2009 in partnership with Semiconductor Entrepreneurship program

– Leverage Semiconductor infrastructure and volunteers

– Topics at the intersection of business and technology

– http://www.mitcnc.org/Clean_Technology_Series.htmm

• Steering Committee

– Director: Eileen M. Tanghal ’97

– 3-5 dedicated volunteers, looking to expand

– Advisory board of distinguished colleagues

• 2009-2010 Sponsors

– Cooley Godward Kronish (in-kind: venue and catering)

– Applied Ventures (in-kind: venue and catering for one event)


Cleantech Entrepreneurship2009 Events

• May 2009: Accelerating Energy Management Rollout panel Panelists included

– Matthew Denesuk, Partner, Venture Capital Group, IBM

– Matt Smith, VP Marketing, Greenbox Technologies

– Peter Sharer, CEO, Agilewaves

– Linda Hanson, Echelon, VP Corporate Marketing

– Sumeet Jain, Senior Partner, CMEA Capital

– Bill Shetti, Managing Director Storm Ventures and Board Member Demi Energy

• July 2009: Summer Mixer featuring Eleanor, the MIT Solar Electric Vehicle

• September 2009: Light it UP (next generation lighting technology)


Summer Mixer…featuring Eleanor the MIT Solar Car

June 16th at Cooley Godward Kronish in Palo Alto

Roughly 80 alumni and friends attended, with Eleanor proving a big hit


• Strong Beginning

– A good re-start of the series

– Have managed to recruit some top speakers

– Good attendance by MIT alumni

• Challenges Ahead

– Director bandwidth

– Consistent participation by volunteers

– Sponsorships: reduction in available sponsorship money due to economic downturn

Cleantech Entrepreneurship

45

Evolving Alumni Base Demographics


10,679

1,879

774

0

2,000

4,000

6,000

8,000

10,000

12,000

1980 1985 1990 1995 2000 2005 2010

3,764

Our Alumni Base has grown significantly over the past ten years


1% 2%

14%

19%

30%

37%

21%

27%

38%

14%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2009

20%

1984

4%9%

3%8%

22%

1999

10%

5%

26%

28%

1989

14%

4%

15%

29% 1950’s

1980’s

1990’s

1970’s

2000’s

1930’s

1960’s

1940’s

40 40 45 48 Average age36 36 4442 Median age

1989:

32% had graduated at last two decades earlier

2009:

52% graduated at last two decades

ago

Young Alums constitute a smaller portion of our base than they did 20 years ago


7782

8592

2318

158

0

20

40

60

80

100

1980 1985 1990 1995 2000 2005 2010

Female

Male

The percentage of women have increased


626468

383632

0

20

40

60

80

100

1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010

Grad

Undergrad

Graduate alums represent a gradually increasing proportion of our base


EE still department with greatest representation

Alumni Base by Major

0%

5%

10%

15%

20%

25%

30%

1984 1989 1999 2009

Sloan MBA Physics Life Sciences Math EE Mech Eng Chem E

Per

cen

t o

f A

lum

s


Life Sciences has shown greatest relative increase over last two decades

60% 80% 100% 120% 140% 160% 180%

Chemistry

Aero Astro

Chem E

Physics

Math

Material Science

Mech Eng

EE

Sloan MBA

Architecture

Life Sciences

Change in Proportion of Alumni, 2009 relative to 1989

100% = no change from ’89 to ‘09


Where are our alums?


Thank you Directors, Officers and Volunteers for making MITCNC a great club and resource

for our alums

It has been a rewarding two years serving as Club President!

Thank You!

54

MITCNC Scholarship ProgramFor 2009-10

Wm. Murray ’67

Program Manager

Board Business


• John Bardeen ‘12

Hometown: Napa, CA

• Xiao Chen ‘12 (Robert Swanson ‘69 Memorial Scholarship)

Hometown: Oakland, CA

• Dhruv Garg ‘12 (Gaynor Langsdorf ’32G Memorial Scholarship)

Hometown: Cupertino, CA

• Susana Hak ‘12 (MITCNC Alumna Scholar)

Hometown: San Leandro, CA

• James Silva ‘12 (Janet Grosser ’53 Memorial Scholarship)

Hometown: San Jose, CA

• Andrew Sutherland ‘12 (Judy and Phil Friend ‘58 Memorial Scholarship)

Hometown: Albany, CA

2008-09 MITCNC Scholars


Daniel Hastings (Dean for Undergraduate Education) Wrote the MITCNC (7/13/09) asking:

“The combination of constrained finances… demand that ……we use our scholarship resources as efficiently as possible. It is vital that we exhaust income from endowed scholarships before tapping into general Institute funds. With this in mind, I am asking the Club to allow MIT to award the full amount of endowment income for the MITCNC Scholarship, rather than returning a portion to principal.”

Scholarship Funding for 2009-10


• $48,090 Available at MIT for Scholarships

• Motion: allow MIT to award six MITCNC scholarships at $8,000 each

Endowment Income from 2008-09


• To Keep the MITCNC Endowment at MIT growing

• Motion: Transfer $10,000 from MITCNC to the MITCNC Endowment at MIT

Proposed Addition to MITCNC Endowment

MITCNC BOD Meeting, July 28th, 2009 MITCNC Summer Board Meeting July 28, 2009.

Documents

Transcript of MITCNC BOD Meeting, July 28th, 2009 MITCNC Summer Board Meeting July 28, 2009.