Stanford GSB will return to New York City April 1 through June 5, 2016, with its second offering of Stanford Ignite, its flagship program in innovation and entrepreneurship. This 10-week, part-time program teaches working professionals and graduate students from non-business backgrounds how to formulate, develop, and commercialize their ideas.
Stanford Ignite is a global program that attracts individuals from a diverse set of industries, including engineering, finance, medicine, design, and law. The program teaches STEM graduate students, technical professionals, and non-business entrepreneurs the business fundamentals necessary to succeed at any entrepreneurial venture or “intrapreneurial” initiative within a corporation. The Stanford Ignite program is designed to deliver the same kind of immersive, innovative, and hands-on instruction that working professionals and graduate students experience with the program on campus. It provides exposure to both the fundamentals of management and the practical aspects of identifying, evaluating, and moving business ideas forward.
Prospective applicants can learn more via an online information session on Tuesday, Oct. 20, 2015 from 7 to 8 pm ET. Applications are due Dec. 1, 2015.
Leveraging Educational Technology
The New York City program will be held at Cisco Systems in midtown Manhattan and delivered through a combination of in-person instruction and live sessions via high-definition distance learning technology, which enables seamless conversations between the faculty in Stanford, Calif. and participants in New York City. The program draws on the same world-class business faculty who teach in Stanford’s MBA Program, which is infused with the culture and practice of innovation that pervades Stanford University and Silicon Valley.
“Our goal is to bring Stanford Ignite to the world’s top centers of innovation and entrepreneurship,” said Stanford Ignite Faculty Director Yossi Feinberg, John G. McCoy-Banc One Professor of Economics at Stanford GSB. “New York is a hotbed of innovation where entrepreneurs are upending established business models in fashion, retail, health care, finance, media, and food. Stanford Ignite-NYC enables us to reach new audiences and bring the Stanford GSB experience and culture of innovation to these exciting industries.”
Participants from last year’s cohort found the program invaluable both to launch new ventures or reframe their existing jobs and innovate within their companies.
“The most valuable takeaway for me, as a startup founder and venture owner, was the direct and strategic feedback, guidance and mentorship I received from the program's distinguished leadership team, faculty and venture capital community, in support of my entrepreneurial objective to successfully commercialize and launch my ARTDEX venture with global impact,” said Jenny Park Adam, founder and CEO of ARTDEX, a new social network application for artists and collectors. “The program also offered me an invaluable business network, from which I hope to draw upon in the coming months ahead as I move forward with realizing my ultimate goal: to innovate and transform the global art world by merging together art and technology on a scale unprecedented.”
Another participant said Stanford Ignite inspired her to completely rethink her company’s approach to its market.
“Stanford Ignite lifted the curtain on the science of innovation. So often, as creative thinkers, we have 'lightning in a bottle' magic moments of inspiration that have tons of potential to be the next big thing,” said Jan Sage, vice president of marketing and promotion at ABC. “Stanford Ignite teaches intrapreneurs and entrepreneurs how to go the distance with those creative ideas, backing up the magic with deep research, design thinking, rounds of iteration, financial modeling, competitive analysis, peer/mentor advisory and presentation showmanship. Ultimately, the concept you launch may be a world away from the one you started with, made all the better by the innovation journey. Stanford Ignite gives you the vision to evolve from 'launch now' to 'launch wow.' ”
Sage also noted the networks fostered during her program that continued well past her program: “I also count the Stanford Ignite fellows I spent three months with as treasured new friends and industry colleagues whose shared perspectives are invaluable as they represent the best and brightest of their respective fields,” she said. “Several of us have continued to stay in touch and already begun to explore ways we can collaborate on endeavors together. Beyond what I've learned from the outstanding professors, I'm constantly learning from this team that's expanded my network into areas I never imagined pre-Ignite and, in turn, inspired fresh ideas.”
More Than 100 Companies
In aggregate, Stanford Ignite participants have started more than 100 companies since the program was introduced at Stanford in 2006.
The non-degree program, which costs $14,500, will be held during seven weekends (Friday evening, Saturday, and Sunday) spread across a 10-week period, making the program ideal for working professionals and full-time graduate students.
The program will include approximately 200-250 hours of training, including 100-150 hours spent on participants' own venture projects. Participants will develop their projects by working closely with experienced mentors and panels of expert investors and successful entrepreneurs from both Silicon Valley and the New York area who will provide real-world feedback.
The second cohort of the New York program will accept up to 40 participants. Upon successful completion, participants will receive a Stanford Ignite certificate.