Category Archives: School News

Harvard Celebrates New Venture Competition’s 20th Anniversary

In April, Harvard Business School students and alumni will compete for $300,000 in cash prizes to fund their startup dreams in the 20th Anniversary New Venture Competition. Past competition winners and participants will also return …

In April, Harvard Business School students and alumni will compete for $300,000 in cash prizes to fund their startup dreams in the 20th Anniversary New Venture Competition. Past competition winners and participants will also return to campus for programs and a celebratory 20th Anniversary New Venture Competition Finale on Tuesday, April 25, 2017.

The school is offering its biggest prizes to date, with a $75,000 Grand Prize for top winners in the Student Business, Student Social Enterprise, and Alumni competitions. Additional prizes are a $25,000 Runner-Up Prize, $5,000 Audience Award, and in-kind services. Previously the Grand Prize was $50,000 in each category.

More than 200 judges will vigorously review the new ventures in several rounds of judging. Past winners include Rent the Runway, Birchbox, and GrabTaxi.

“The New Venture Competition is critical to entrepreneurship at Harvard Business School,” says Jodi Gernon, Director of the Rock Center for Entrepreneurship, which oversees the student and alumni business tracks of the competition. “Competition winners say it was the launching point of their businesses, helped them to attract funding, and gave them the confidence, exposure, and skills to found companies.”

Matt Segneri, Director of the HBS Social Enterprise Initiative, which manages the social enterprise track, says, “The winning teams developed innovative approaches—using for-profit, nonprofit and hybrid models—to tackle society’s toughest challenges, including HIV prevention and K-12 education reform.”

171 alumni teams applied in January and are being judged in 15 regions. Four alumni teams will make it to the semifinals to present and be judged at the April Finale at HBS. More than 70 student teams on the business track and 48 social entrepreneurs have already applied in advance of the March 8 deadline.

HBS also offers workshops and other support for students. You can learn more about the New Venture Competition at hbs.edu/nvc and track Harvard Business School’s 20th Anniversary New Venture Competition on Twitter at #HBSNVC.

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NYU Stern Launches Digital Business Certificate

Digital technology is redefining business models and transforming industries from finance to fashion at an unprecedented pace. In response, NYU Stern School of Business is introducing a new Advanced Professional Certificate (APC) in Digital Business. …

Digital Business certificate

Digital technology is redefining business models and transforming industries from finance to fashion at an unprecedented pace. In response, NYU Stern School of Business is introducing a new Advanced Professional Certificate (APC) in Digital Business.

At companies leading this transformation, technical professionals find they need to understand the business implications of technology as they progress to product planning and managerial roles, and non-technical professionals need to understand the fundamentals of digital technology to advance within their organizations. Stern’s new certificate will address these unmet needs.

Working professionals with or without an MBA may apply to the APC program to take five courses alongside Stern MBA students in the School’s Langone Part-time MBA program. APC students can earn their certificate in digital business in as few as two semesters and will have up to two years to complete it.

“Most of the top digital economy companies have a home base in New York City, many in Silicon Alley just a few blocks from Stern,” said Yannis Bakos, Associate Professor of Information Systems and Faculty Director of the APC in Digital Business.

“Employees in these companies can take top-tier MBA courses during evenings or weekends, and deepen their understanding of digital technology and digital business in a short amount of time. They can better assess whether a full MBA program might be the next step for them, or they can update a degree they earned before digital business was part of the MBA curriculum,” Bakos said.

APC students without an MBA may choose to apply to Stern’s Langone Part-time MBA program while pursuing their certificate. If admitted, these students can apply their APC credits towards the Langone Part-time MBA as long as they do so prior to receiving their APC certificate.

APC in Digital Business course offerings include classes on digital strategy; data mining; business analytics; digital marketing; digital media; and statistics and data analysis. As part of the admissions process, candidates must have a bachelor’s degree or its equivalent, two years of work experience and submit either a GMAT or GRE score, or proof of an MBA degree. Candidates may apply to start courses in the Fall or Spring semester.

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NYU Stern Creates New Scholarship Dedicated to Advancing Women in Business

New York University’s Stern School of Business will establish a new merit-based scholarship called the Advancing Women in Business Scholarship for incoming full-time MBA students, the school has announced. The scholarships will go to students—female or male—who demonstrate a deep and abiding …

MBA scholarship for womenNew York University’s Stern School of Business will establish a new merit-based scholarship called the Advancing Women in Business Scholarship for incoming full-time MBA students, the school has announced.

The scholarships will go to students—female or male—who demonstrate a deep and abiding commitment to advancing women in business and will cover the first year of tuition and mandatory fees.  Stern expects to award $1 million in Advancing Women in Business scholarships to students in the Class of 2019.

The Advancing Women in Business Scholarship is partially funded by alumnae and these members of the Stern School’s Board of Overseers:

  • Tania Ahuja, PhD 2001
  • Mary C. Farrell, MBA 1976
  • Nomi Ghez, GSAS 1976, ADCRT 1981
  • Judy Lee, BS 1988
  • Alison Mass, BS 1980, MBA 1981
  • Ellen J. Schapps Richman, MBA 1979
  • Chandrika Tandon

NYU Stern’s popular and active MBA student club, Stern Women in Business (SWIB), reinforces the vision behind the scholarship.  The club, whose leadership board includes four men, generates a supportive community to address topics significant to women in business and provides forums where diverse experiences, perspectives and resources can be shared.

If you are a woman planning on applying to business school in the future, we here at SBC encourage you to connect with Forte Foundation and Catalyst, two widely respected organizations dedicated to expanding opportunities for women in business. Forte’s mission is to educate women on the value of an MBA degree, and holds events throughout the year to help prepare female applicants to become the best candidate possible.

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Challenges and Opportunities for Female MBA Applicants

Image by Flickr user WOCInTech (CC BY 2.0)

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SC Johnson Gifts $150M to Cornell’s Business College

Over the weekend, Cornell University‘s recently formed College of Business announced it has received a gift of $150 million from alumnus Fisk Johnson and SC Johnson—the largest single gift to Cornell’s Ithaca campus and the …

Cornell Johnson MBA essay tipsOver the weekend, Cornell University‘s recently formed College of Business announced it has received a gift of $150 million from alumnus Fisk Johnson and SC Johnson—the largest single gift to Cornell’s Ithaca campus and the second largest gift to name a U.S. business school.

The College of Business comprises the Charles H. Dyson School of Applied Economics and Management, the School of Hotel Administration, and the Samuel Curtis Johnson Graduate School of Management.

In recognition of this historic gift and the Johnson family’s extraordinary, multi-generational legacy of leadership and philanthropy to Cornell, the Cornell University Board of Trustees has approved renaming the college the Cornell SC Johnson College of Business.

“Cornell University has been a part of my family for more than 120 years,” said Fisk Johnson, SC Johnson chairman and CEO, and a Cornell trustee emeritus. “I hope this gift will serve as a significant catalyst to help grow the reach and impact of Cornell’s College of Business. The goal is to strengthen the College of Business overall, while enhancing its three individual schools and the qualities that make each exceptional.”

Two-thirds of the gift, $100 million, will be used to create a permanent endowment to support the college’s highest ambitions.  In the near term, the endowment will provide flexibility for faculty recruitment and retention in Ithaca and New York City; increase the college’s competitiveness for top students through expanded scholarship resources; and develop and expand programs in and outside of Ithaca.

These funds will enable new interdisciplinary research initiatives in areas that leverage and enhance the college’s and Cornell’s research strengths – particularly in the areas of sustainability and technology.

The remaining $50 million of the gift will be used as a current-use challenge grant to leverage philanthropic support from others on a 1:3 basis, allowing the college to raise an additional $150 million in endowment and bring the total potential impact of the gift to $300 million. The challenge will have a special focus on faculty and student support, while also promoting innovative programs. Endowment gifts for the college’s three schools or the college broadly will be eligible for the challenge.

“This extraordinary gift will further that goal by creating more diverse and rigorous learning and research opportunities for both faculty and students across the college’s three accredited business programs,” said Soumitra Dutta, dean of the college. “It also will help enhance the unique characteristics and strengths of each and support our mission to realize the full potential of Cornell’s business programs.”

Each of the three schools maintains its distinct identity and mission, Dutta said, while collectively benefiting from these substantial new resources. Already, the college’s combined faculty from the three partner schools gives it the third-largest business faculty in the country.

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HBS Update on Round 2 Applications

The final wave of Round 2 interview invitations from Harvard Business School will go out on Wednesday, February 1st at noon EST. According to a new update by MBA admissions director Chad Losee, the online …

Harvard Business School interviewThe final wave of Round 2 interview invitations from Harvard Business School will go out on Wednesday, February 1st at noon EST. According to a new update by MBA admissions director Chad Losee, the online scheduler for this wave of interview invites will go live immediately.

As a reminder, whether you interview on campus, a global hub city, or via Skype, your odds of acceptance are the same as members of the admissions board conduct all HBS interviews.

The admissions team will also send out release notifications on Wednesday, and Losee takes a moment to reassure these candidates that HBS welcomes re-applicants, noting that “about 10% of each class is composed of students who didn’t get into HBS on their first try.”

If you’re planning to reapply if you don’t get accepted this year, here at SBC we recommend you treat the re-application process as a blank slate instead of reusing old essays.  It’s always a good idea to paint a new self-portrait based on the experiences you have gained during the past year.

Also, a word to future Round 1 applicants: Spring is a great time to plan a campus visit if you want to see the case method in action, as there’s limited availability for visiting a class in the early fall.

Good luck to all the Round 2 applicants out there, as well as those on the HBS waitlist.

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5 Common Interview Questions from Harvard Business School

 

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Which B-Schools Dominate Entrepreneurship?

Are you itching to start your own company and wondering which business schools would best help you achieve that dream? Entrepreneurship is a super popular course of study at today’s b-schools. As someone who has started …

entrepreneurshipAre you itching to start your own company and wondering which business schools would best help you achieve that dream? Entrepreneurship is a super popular course of study at today’s b-schools. As someone who has started more than one successful company, I can attest that I leveraged a lot of my MBA classes and resources into my business ventures.

Let’s take a look at the latest Poets & Quants listing of the best b-schools for aspiring entrepreneurs. Since 2013, Poets & Quants has ranked startups based on one criterion: venture capital-backed funding.

“For the first time, Harvard Business School cannot claim to have more startups on the list than any other school. After dominating last year’s list with 42 ventures (out of 100 on the list), the HBS machine has dropped to 24 ventures raising a combined $618.29 million,” Nathan Allen writes. “Meanwhile, Stanford’s Graduate School of Business (…) added a startup from last year’s list to tie HBS at 24 total ventures raising a combined $958.64 million.”

2017’s top business schools for aspiring entrepreneurs:

Harvard Business School: 24 companies
Stanford Graduate School of Business: 24 companies
The University of Pennsylvania’s Wharton School: 12 companies
Columbia Business School: 11 companies
Northwestern’s Kellogg School of Management: 8 companies
MIT Sloan School of Management: 6 companies
NYU Stern School of Business: 5 companies
UC Berkeley Haas School of Business: 4 companies
UCLA Anderson School of Management: 3 companies
University of Texas Austin McCombs: 2 companies
The University of Virginia Darden School of Business: 2 companies

Sure, some of history’s most successful entrepreneurs did not go to business school, but the best MBA programs acknowledge they don’t actually create entrepreneurs…they merely nurture innate ability.

These elite programs offer a broad range of courses in entrepreneurship, as well as  opportunities for networking with established entrepreneurs, launching start-ups, and developing the skills needed to start successful businesses. Even if alumni don’t become entrepreneurs immediately after graduating, their MBA degree provides the career flexibility and the skills that help them start businesses years later.

The excellent piece in Poets & Quants takes an in-depth look at specific companies started by various alumni, as well as the role of entrepreneurship centers at the schools. To see the complete list of the top 100 MBA start-ups, check out the full data set from Poets & Quants here.

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Ask the AdCom: Share a Cool Company Born of Your MBA Program

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