Author: albe@mip.polimi.it

European Commission appoints top innovation leaders to guide the European Innovation Council

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Europe needs to capitalise on its science and start-ups to compete in global markets increasingly defined by new technologies. That is why the European Commission is introducing a European Innovation Council (EIC) to turn science into new business and accelerate the scale-up of innovative companies. Currently in its pilot phase, the European Innovation Council will become a full-fledged reality from 2021 under the next EU research and innovation programme Horizon Europe with a proposed € 10 billion budget.

Today, the Commission has appointed 22 exceptional innovators from the worlds of entrepreneurship, venture capital, science and technology to the European Innovation Council Advisory Board, which will provide strategic leadership to the EIC. The Board will oversee the roll out of the current pilot and lead the strategy and design of the EIC under Horizon Europe. See the full list here. 

Among them, there is also Roberto Verganti, Professor of Leadership and Innovation at the Politecnico di Milano School of Management.
“In the last 20 years, the dynamics of innovation have changed radically. Today, innovation is fast, entrepreneurial. Models that used to support innovation in the past are not working anymore. 
EIC represents a sharp change in the way innovation is supported in Europe and around the world. EIC focuses on people: that’s the most promising aspect. Innovation makers are those that make the difference, beyond financial and structural resources”, explains Verganti.

The Commission also published today a vacancy notice to recruit the first EIC programme managers. Inspired by the renowned US agency DARPA, the EIC programme managers will be experts in their fields, able to work closely with fast moving technology projects and  open doors to the wider ecosystem. Applications can be sent until the 31 July 2019 at 12.00 CET.

Carlos Moedas, the EU Commissioner for Research, Science and Innovation said: “With the EIC, we are filling a critical funding gap in the innovation ecosystem and putting Europe at the forefront of market creating innovation. I am delighted that the EIC will be advised by some of Europe’s most accomplished innovators and investors, and that we will be bringing in talented programme managers to get the work off the ground.”  

Also today, the Commission announced €149 million for the latest round of 83 SMEs and startups to be awarded EIC Accelerator Pilot grants (previously known as the SME Instrument Phase 2). The SMEs and startups are all developing potential game changing innovations, such as: next generation of safe and environmentally-friendly light aircrafts; anti-bacterial textile for hospitals; 3D audio software; motion planning technology for autonomous driving; and a superbot for audio calls. A list of the companies from 17 countries across the EU and from countries associated to Horizon 2020 is available here.

In addition, the Commission announced €164m to 53 new EIC Pathfinder pilot grants for bottom-up high-risk, high-impact research ideas (previously known as FET Open). Projects include;  metal-free MRI contrast agents; treatment to replace antibiotics in lung infection diseases; custom-crafted graphene nanostructures; precise measuring and monitoring of highly penetrating particles in deep space; artificial proteins for biological light-emitting diodes; and many other ideas. The full list can be found here.

Members of EIC Advisory Board*

  • Mark Ferguson, Entrepreneur, Science Foundation Ireland (Chair)
  • Herman Hauser, Co-founder of Amadeus Capital Partners (Vice-chair)
  • Kerstin Bock, CEO of Openers
  • Jo Bury, Managing Director of Flanders Institute of Biotechnology
  • Dermot Diamond, Principal Investigator: INSIGHT Centre for Data Analytics, Dublin City University
  • Laura González Estéfani, Founder and CEO at TheVentureCity
  • Jim Hagemann Snabe, Chair Siemens AG, Chair A P Moller Maersk A/S
  • Ingmar Hoerr, Co-founder and CEO of CureVac
  • Fredrik Horstedt, Vice president of utilisation Chalmers University of Technology
  • Heidi Kakko, Partner of BaltCap Growth Fund
  • Bindi Karia, European Innovation Expert + Advisor, Connector of People and Businesses
  • Anita Krohn Traaseth, Former CEO Innovation Norway
  • Jerzy M. Langer, Physicist, Emeritus Professor at the Institute of Physics of the Polish Academy of Sciences
  • Ana Maiques, Chief Executive Officer, Neuroelectrics
  • Marja Makarow, Biochemistry/molecular biology, director of Biocenter Finland
  • Valeria Nicolosi, Chair of Nanomaterials and Advanced Microscopy
  • Carlos Oliveira, Serial Entrepreneur, Innovator, Executive President of José Neves Foundation (Farfetch founder)
  • Bruno Sportisse, Chair and CEO at INRIA
  • Kinga Stanislawka, Managing Partner and Founder of Experior Venture Fund
  • Roberto Verganti, Innovation academic, former RISE group
  • Martin Villig, Co-founder of Bolt (formerly Taxify)
  • Yousef Yousef, CEO of LG Sonic

*official membership is subject to finalisation of internal procedures

Background

In June 2018, the Commission proposed the most ambitious Research and Innovation programme yet, Horizon Europe, with a proposed budget of €100 billion for 2021-2027. In March 2019 the European Parliament and the Council of the EU reached a provisional agreement on Horizon Europe. A key novelty of Horizon Europe is the establishment of a European Innovation Council with a proposed budget of €10 billion. An agreement of the European Parliament and Council on the EIC was reached as part of the Common Understanding on Horizon Europe.

 

A first pilot phase of the EIC was launched in October 2017, followed by a reinforced pilot in March 2019, with an overall budget of €3 billion, and the objective of funding Europe’s most exciting innovations of our most talented innovators. The new Advisory Board is part of the reinforced pilot. Members were selected following an open call for expressions of interest, which resulted in over 600 applications.

The European Innovation Council is part of a wider ecosystem that the EU is putting in place to give Europe’s many entrepreneurs every opportunity to become world leading companies. Other initiatives include a Pan-European Venture Capital Funds-of-Funds programme (VentureEU), the Investment Plan for Europe (EFSI), the work of the European Institute for Innovation and Technology, the Capital Markets Union Action Plan to improve access to finance or the proposal for a Directive on business insolvency.

 

MIP Politecnico di Milano’s Flex EMBA 7th in the world and among the top 4 in Europe in the Distance Online MBA category

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QS Distance Online MBA 2019 Rankings published today the School’s executive programme up by 13 places in one year

 

 

“Another great recognition confirming the excellence of the School of Management for its work in developing digital solutions that support education” (Andrea Sianesi and Federico Frattini).
The future is FLEXA, our continuous learning platform geared to artificial intelligence

A world top ten place in distance learning Executive MBAs for Flex EMBA at MIP Politecnico di Milano Graduate School of Business. The only Italian programme listed has climbed 13 places in the global ranking and is now seventh in the world, according to the newly issued QS Distance/Online MBA 2019 Rankings, which measure performance for the best distance learning MBAs.

The Business School of Politecnico di Milano has always held an excellent position in rankings that consider – as QS does – the participants’ experience throughout the course and the quality of faculty. And in this ranking, our FLEX EMBA is placed first in the world for “Class Experience” and second for “Faculty and Teaching”

Flex EMBA is a blended teaching course that uses an ad hoc platform developed in partnership with Microsoft. In 2016, AMBA (Association of MBAs) placed it among the most innovative MBAs in the world. Since 2017, the course holds EOOCS certification from EFMD (European Foundation for Management Development) the body certifying online programme quality, the first executive programme in Italy to receive this accreditation and one of the first in absolute terms.

“We are proud of this excellent result”, say Andrea Sianesi and Federico Frattini, MIP’s Dean and Director of MBA and Executive MBA Programmes, respectively. “Because of this and our growing numbers (with nearly 400 students taking the Italian or the International course since 2014), Flex EMBA is the School’s most successful programme of the past ten years. Our objective was achieved through our efforts to continuously improve the programme and to extend the international dimension of its curriculum. Once again, we see the validity of our online education being rewarded. From 2013, MIP Politecnico di Milano has invested heavily on applying digital technologies to education and providing programmes that offer superb usability and accessibility, while always ensuring high quality teaching and a personalised learning experience.

The many recognitions rewarding the value of our Flex EMBA only confirm the excellence of MIP in developing digital solutions to support education. Five years ago, we were the first in Italy to believe in a digital MBA for executives, so much so that two years later we added an international programme, i-Flex. Today, we have placed another piece in the jigsaw. From December 2018, MIP students can access FLEXA services on this innovative platform developed in partnership with Microsoft. The system uses artificial intelligence to offer an array of services such as skill assessment, personalised and continuous learning and a revolutionary e-tutor to help students fill in any gaps and achieve their professional targets”.

 

Welcome to our Chinese website!

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We are delighted to inform you that from today, the Chinese version of the  School of Management website will be online.

The aim of this website is both to present the School  and to give center stage to the programs especially designed for China.

We think that this represents a further step forward in the international scene for the School of Management, and it improves our visibility in China

Sustainable, autonomous and shared. Here’s the mobility of the future

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New forms of propulsion, the sharing economy, environmental sustainability. These are some of the themes that characterize the road towards the mobility of the future A revolution that involves on one side the technological nature of means of transport and, on the other, the relationship users have with their vehicles. Confirming this is Simone Franzò, researcher at the Politecnico di Milano’s School of Management and Director of the Executive Master in Management at MIP: «One of the main macrotrends that is reshaping mobility is electrification, or rather the passage from traditional internal combustion typically powered by gas or diesel to electric motors. Without forgetting other emerging “fuels”, such as hydrogen, which in a near future could play an important role.  The other big theme is so-called autonomous driving: vehicles able to carry out, completely or in part, the activities of a normal driver, an area that promises to revolutionize the driving experience itself and, more in general, vehicle use».

But changes are also of a social nature: «As in many other areas, the sharing economy is also becoming increasingly popular in mobility – continues Simone Franzò –, supported by very clear data: an owned vehicle is used on average for only 5% of its useful life, while for the remaining 95% it goes unused.  Going beyond the concept of ownership, the sharing economy allows to more fully exploit the asset-vehicle. And this isn’t true only for the automobile, but for other means like bicycles, scooters and kick scooters».

A second example of sharing, applied to electric mobility, can be seen in the vehicle-to-grid (V2G) concept or, in its broadest sense, vehicle-to-everything (V2X): in this case what is shared isn’t the means of transport, but its energy source. «An electric vehicle can share its fundamental asset, that is a battery, with the power grid, or with consumers such as an apartment or a building. In the first instance, electric autos can help resolve problems with the electric grid by exchanging energy with it in a bi-directional manner, as a function of the needs of the grid itself; in the second, they can be used to provide power to consumers in case of a grid deficit».

In general, the issue of the environmental sustainability of electrical vehicles – which represents one of the main drivers for the spread of electric mobility – is widely debated, and for certain aspects is still under the magnifying glass, as confirms Franzò: «Numerous studies show that the source from which the electricity that fuels batteries comes has a significant impact on vehicle emissions and, thus, on their sustainability. The decarbonization path to produce energy underway at the national level will thus have a positive impact on this».

Now the spread of electric vehicles is still limited in Italy and strictly connected to the rollout of a suitable recharging infrastructure. While in an urban setting, and thus for short trips, alternatives aren’t lacking, it’s for long distances that electric vehicles continue to show their limits: «Today the number of recharging stations in Italy is well below that of the other main European countries. In addition, the fact they are mainly located in urban settings makes the use of electric vehicles for long distances more complex, despite an average autonomy that by now has reached 300-400 kilometres».

Obviously, the challenges change if we are talking about a city or the surrounding area. According to Franzò, «we need to think about mobility in a holistic way to unite cities and suburbs, for example creating interchange points at which those who arrive from the suburb heading to town centres can easily use shared vehicles, perhaps electric ones».

A synergy that is increasingly necessary, especially as cities increasingly focus on the decongestion of traffic and reducing pollution.

 

 

 

 

A Point of view on Leadership

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Clear objectives and acute emotional intelligence. These, according to Lorenzo Wittum, chief executive officer of AstraZeneca Italia, are the two pillars on which managers must build their success. A certainty that comes from years of personal experience, which Wittum shared with students in the Executive MBA programme of MIP Politecnico di Milano. «Pressure without direction only generates agitation – explained Wittum –. Companies are focused on results, and to obtain them it’s fundamental to have a clear and precise strategy, especially if you find yourself managing a team of hundreds of people. The working group must know what the final objective is. For this it’s important that the leader is able to communicate this correctly and effectively».

In a context like this, soft skills become more decisive than hard ones, which however also shouldn’t be undervalued: «I also entered the work world thanks to an MBA in Business Administration and Management, without which I probably wouldn’t be here today. I started my career using hard skills I gained during years of study, and in the meantime I was able to develop empathic and communicative skills, which for a leader are fundamental», said Wittum.

Indeed, it would be difficult to describe a person who isn’t able to involve and motivate his or her colleagues as a good leader. «It’s necessary to know how to speak clearly: define expectations, the level of difficulty, opportunities and risks. Few things are as engaging as the opportunity to work on one’s personal growth and that of colleagues».

In addition, soft skills, unlike hard ones that often involve specific fields, can be used across all work areas.  «Business, no matter what sector, is always based on the same principles. And making the difference are always the same elements: the involvement of people, a clear strategic direction and motivation. Factors that are even more important if you think that, within an organization, there are many projects that involve high-level professionals with different corporate roles: when, as in this case, you lead a “superteam” of experts who respond to other corporate hierarchies, more than leadership, we talks about lateral influence», explained Wittum.

Indeed, it’s the leader’s job to create the right conditions to stimulate cooperation: «In this, what helps immensely is a quality I developed during my master’s programme, that of humility, which must be understood as the ability to be transparent, to know how to recognize when someone else’s idea is better than yours. It’s this attitude that generates involvement».

The role of the leader, obviously, changes significantly as a function of the dimensions of the team. «When I was leading smaller teams, I loved working in the field and giving an example. Put at the head of a larger group, I realized that this approach generated a counterproductive complexity. I realized that to involve and motivate not a team but an entire company I had to first be recognized as a leader, beyond the position I hold, by the key individuals in the different corporate functions».

The AstraZeneca Italia CEO stressed the importance of a master’s degree in an individual’s training path: «Provided, however, that you have patience and consider your career in a constructive way. It’s not a series of 100 metre sprints, but it’s much more like a marathon. It’s important to know what you want to do when you grow up, but this doesn’t mean that you should expect to find your desired job immediately. It’s a growth path that requires, also in this case, a clear objective and great resilience».

The in-company visit, a great opportunity for comparison

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Among the many different activities that MIP is building up in order to let its students acknowledge more and more the complexity of a business reality, some of the most interesting experiences so far have been for sure the in-company visits.

These visits consist in a full day of lessons related to the MBA topic of that moment, physically in the offices of a big multinational company partnering with MIP.

Up until today, I have had the opportunity to join two of these “alternative” sessions in the offices of Sandoz and Microsoft and during both of them I enjoyed lots of different aspects.

First of all, these are opportunities to meet top managers directly in the field, sharing their carrier path and personal experience. These moments are really valuable for sharing ideas and comparing yourself with different people and environments, opening up your mind in terms of your job routine.

Also, these meeting sessions are chances to become aware of what companies are doing, where they are focusing their growth and which resources they are willing to obtain in the short/medium term to reach their goals. I really appreciate the transparency used in sharing these details and the effort made in helping us to understand company strategies.

Furthermore, during these lessons you can concretely perceive how strategic a company’s culture and philosophy can be, and how the management is working every day with this focus in mind.

Visiting Microsoft was the perfect example of this; starting from a classic Silicon Valley company idea, they entirely rebuilt the company, and not only in a figurative way – they really built headquarters which are people oriented and open to everyone!

Personally I really appreciated this possibility, because for me it was the occasion to compare my daily activities and environment with another reality. It has made me more aware of the strengths and weaknesses of the place I’m working in right now.

In order to unleash the best from this experience, I want to give a little advice to those of you who decide to spend two minutes of your life in reading my articles…be brave and do not be shy! These visits are mainly intended also to be opportunities to increase your network and share your CV, but no one will do it for you! MIP is giving us the privilege of meeting key managers and HR teams working in great companies but at the end of the day, it is up to you to use it as best you can.

Lastly a personal update: the second ½ of my kids has just arrived and of course, it’s another boy! Will keep you posted on:

  • Parents’ lost sleeping hours
  •  My first kid’s war of jealousy against his new worst enemy, his brother!

 

About the author
 Pietro Cavallo

My name is Pietro and I grew up in Milan, where I am currently living. I work in Switzerland, in the Supply Chain division of a clothing multinational. I am the husband of an incredible wife and father of 2 crazy kids.

 

A stroll in the city of the future  

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Sustainable, connected, shared. In a word, smart. This is the future to which a city like Milan, among the most cutting-edge cities in Europe, is looking. And this is the horizon that all urban centres, big or small, must look towards in coming years. The idea of a smart city, a city that thanks to technologies and innovation becomes more efficient, more ecological and even more democratic, is becoming increasingly tangible.

«When I think of a smart city, I think of a group of communities that co-exist and participate in the life of the city thanks to different forms of sharing», explains Davide Chiaroni, Director Corporate Relations at MIP Politecnico di Milano.  «We’ll witness a paradigm change that will impact all services and, as a result, will also change our mentality a little bit: we’ll get used to greater sharing and participation. Smart cities, in essence, will be the cities of Millennials and digital natives».

These cities will also be able to provide an adequate architectural response to changed work contexts. «Many buildings were designed based on needs that have now changed and that will change even more in the future: the growing digitalization of services, which will give an even greater impetus to smart working, will for example make many large offices obsolete. The smart city, instead, is based on the idea of so-called “circular” buildings, buildings designed considering that the end use can change in a short time. In other words, it will be a flexible city for flexible work», says Chiaroni.

Flexibility also involves the issue of mobility, which must address the double challenge of environmental sustainability and the extensiveneness of the service: «Milan is focusing a lot on setting up an electric fleet for public transport. And autonomous driving will revolutionize the conception we have of the automobile: no longer a private good but a public and shared service», explains Chiaroni. From this perspective, some experiments have proven to be quite useful for gathering data and better planning traffic flows: «The gates of Area B (Milan’s limited traffic area closed to the most polluting vehicles) will be invaluable for measuring traffic volumes and understanding in what areas to intervene and how to do it».

In short, the smart city revolution is at hand. However, some pieces are still missing, starting with energy: «Cities aren’t yet able to rely solely on clean and renewable energies. There are limits to storage, which must be overcome, but that’s the right direction», explains Chiaroni. It shouldn’t be concealed that the development of a smart city also comes with some problems. «Numerous studies concur that the smart city has positive economic repercussions. But not all actors involved in this process come out ahead». And it’s here that politics comes into play:  «The smart city will change the nature of work.  It’s inevitable to think that older people in society will be hit by this. Politics will play a role in compensating for these gaps, in the face of a balance that is nonetheless positive».

The School of Management of Politecnico di Milano aims to train people for the most suitable professions to manage these processes: «I have in mind a sort of control room that deals with the design of services, that is able to develop a road map, that’s not made up of technicians, but of managers that know which technologies should be exploited. Our school offers future managers dual know-how: management and technological. We’re convinced that one can’t do without the other. Planning isn’t enough: you also need to think of the practical effects», concludes Chiaroni.

This Business School Is Looking For Technology-Savvy MBA Students Just Like You

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Anna Bacigalupi is head of MBA admissions at tech-focused MIP Politecnico di Milano. She says incoming students need to be passionate about technology and innovation

17% of business school alumni work in technology. Big-name tech firms—like Amazon, Google, and Microsoft—are ramping up their hiring of MBA graduates from business schools with a central focus on tech innovation.

MIP Politecnico di Milano in Italy is one such school. Anna Bacigalupi, head of admissions at MIP for the International MBA, says that focus on technology and innovation starts at admissions stage. When selecting new students, she says she evaluates the ability of the student to operate in a digital context versus a traditional one.

“The more dynamic and tech-savvy a candidate is, the more weight they will get in the overall admissions ranking,” she asserts.

Anna explains that this is indicative of the job market they will enter after their MBA, whatever the industry. “It prepares applicants to face the recruitment process with companies which are becoming more and more tech-based in candidate selection.”

How does the application process work?

Digital is threaded throughout the MBA admissions process at MIP. In fact, the entire experience—application, interview, presentation—is managed online in many cases.

Because many candidates apply from around the world—there are 22 nationalities represented in this year’s MBA class—interviews are frequently carried out on Skype, and an English-language test can also be done online.

Anna describes the application process for the MBA as the most demanding out of all the programs that MIP Politecnico di Milano offers.

“Even before students decide to apply, we always want to assess their profiles,” she says. “It’s fundamental to us that the students fit our program but also that the program meets the candidate’s expectations.”

 

How does the MIP MBA focus on technology?

Company connections and experiential learning are imperative to the MBA at MIP Politecnico di Milano. The school works with around 400 companies including Vodafone, L’Oréal, Gucci and Amazon to name but a few. Tech giants Microsoft and IBM also have strong relationships with the school.

Businesses are brought onto campus through management boot camps, where students are mentored by industry professionals throughout different projects. Each student will complete at least eight boot camps during their MBA, including examples like Big Data & Analytics, and The Silicon Valley Experience, which sees students tour San Francisco’s global tech hub.

MBAs further deepen their understanding of tech entrepreneurship, visiting startups and startup accelerators such as Plug & Play Tech Center, as well as Stanford Center for Professional Development, to learn how to take a product to market

Students also have the chance to gain a dual degree at MIT in the US. Studying at the MIT Center for Transportation and Logistics in Boston after their MBA, students can achieve an MBA plus a Master in Supply Chain Management from MIT.

 

What else can you do to stand out?

Anna says she looks for prospective students with at least three years of professional experience who are motivated to combine both practical experiences and theoretical knowledge to advance their careers.

Ambition to excel in their chosen career is also a must, as is a candidate’s desire to develop an analytical mindset. “Candidates should be ready to stretch their limits,” Anna enthuses.

Crucially, students on the MBA at MIP Politecnico di Milano are passionate about innovation, technology, and digital transformation. And Anna wants students who are ready to bring their unique background and perspective to the program.

 

Originally published on 

A glimpse into Microsoft’s MBA Tech Talk and the future of the tech industry

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Juan Algorta wouldn’t have imagined a couple of years ago while working as an accountant for Ernst & Young in his native Uruguay, that he would be the MIP MBA ambassador for Microsoft’s MBA Tech Talk event in the United Kingdom in November 2018. I have already mentioned in my previous articles the diversity of the MIP alumni. Now I would like to introduce another classmate from the 39th edition of the International Full-time MBA, sharing his experience at Microsoft’s UK Headquarters.

 

What was it like to attend the MBA Tech Talk in England?

Juan – I was very excited, because it was my first journey to Britain. Microsoft (an official partner of MIP) had invited MBA candidates from the best European universities to showcase the latest advances regarding Quantum Computer Technologies. This was a very important opportunity for networking with people from all over the world and a chance to get a better idea of the working culture inside Microsoft. It is worth mentioning that, like me, many of the attendees didn’t have professional experience in the tech industry. Nevertheless, we were all very curious to know more about the development and possible impact of technological innovations in the not-so-distant future. There were three engaging talks, which gave me relevant insight that I hope to apply during my MBA journey and in my future career opportunities.

 

Which were the main topics discussed during these talks?

Juan – The first seminar was Learn about the current and future IT trends by Lee Stott. It focused on trends related to artificial intelligence, a predominant force for the future of technology. Scott explained how machine learning will be the key to recording human interactions for the creation of 3D holograms, for analyzing the reality surrounding us. Afterwards, Anita Ramanan gave her talk entitled Quantum Computing – Don’t Panic. She explained the new generations of computers currently being developed by different technology giants. Traditionally, binary codes were used for programming computer systems. With Quantum, each code can be a complex combination of 1 and 0, enabling systems to enlarge storage capacity as well as processing velocity. This technology will also be a relevant force for the development of both machine learning and artificial intelligence. The last intervention was by Heidi Jenkin, who focused on how an MBA student can be successful in the tech industry, by initiating startups and even becoming an entrepreneur. She also stressed the importance of networking during an MBA as the prime action for shifting your career, even if you don’t have a background in technology.

 

Which was the highlight of that day?

Juan – The final part of the conference was a meet-and-greet session with seven Microsoft employees, who introduced themselves as former MBA students that came from different backgrounds. I spoke with Alonso from Spain who came from the finance industry, like me. His story was very inspiring and changed my perspective for applying to a position in a company like Microsoft, which I had not thought about before attending this MBA Tech Talk.

 

What is your takeaway from this experience?

Juan – Being exposed to so much new information, I feel more curious than ever to continue researching. Technology is very important for the future of business. I used to be an auditor in Uruguay, focusing on productive processes. I believe these processes are continuously evolving with the digital technologies, so it is important to keep learning about innovations so as not to be left behind in the global trends for business development. I have also become more confident about my future outlook and would like to remain in the financial sector, but with an updated and global mindset.

 

 

About the author
 Roberto Niño Betancourt

Roberto is a student of the International full time MBA. He is a Colombian filmmaker and new media artist based in Milan.
He has collaborated as a post producer for MTV Latin America, as well as many European production companies. He is very passionate about international cross-cultural collaborations, craftsmanship and the sustainable conservation of natural resources.

 

 

How My MBA Degree Helped Me Become An Entrepreneur

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After developing her skills during an MBA hackathon, Divya Singh is getting ready to launch her own luxury startup

The fashion world is changing as we move further into the 21st century. Right now, ‘uncertain’ is the industry’s buzzword for the state of play.

According a report by McKinsey & Company—The State of Fashion 2019—2018 was the year that saw fashion executives think less about survival and more about their brand’s strategic agenda and business model.

That those in the creative industries need to be business savvy is old news, and the knowledge accrued on an MBA program is just as important for those in fashion as it is for any other industry.

Divya Singh knows this all too well. With a background in fashion design, she enrolled on the International Part-Time MBA at MIP Politecnico di Milano to gain a holistic understanding of the business side of fashion.

How my MBA degree helped me become an entrepreneur

Divya—who is a current MBA student—says that MIP appealed to her because of the variation of case studies on offer, which allow students to focus on the industry they’re most interested in. MBAs can also enhance their education by taking elective weeks in modules on the Executive MBA.

It was the MBA competitions, though, that turned Divya into an entrepreneur, and put in her in the position to launch her own luxury startup.

She recently completed two competitions. The Mark Challenge hosted by the University of Monaco, and Shaping a Sustainable Digital Future, patroned by The Prada Group.

In Monaco, Divya and her teammate, Fabio Masoero Regis, developed a luxury service business plan, winning the competition with their startup idea UBIQUE: a digitized luxury concierge service.

They didn’t stop there though. As finalists from Italy for the Prada Competition, the pair flew to New York late last year, adapting UBIQUE to the sustainability ideals the challenge championed.

An intense two-day hackathon saw them team up with three non-MBA students from Yale University and present their idea to a board of Yale and MIP Politecnico di Milano professors, as well as executives from the Prada Group.

Divya thinks that it’s these experiences which distil the learning of an MBA, preparing her best for the turbulent future of the fashion industry.

“Working with students who weren’t MBAs, with people with backgrounds in architecture for example, meant we could perfectly merge business know-how with creativity,” she explains, “the competition allowed me to apply my MBA learning in a real and rewarding way.”

She adds that managing team dynamics was integral to their group’s success, as they worked in a high-pressure environment with demanding time constraints.

Divya says that she developed speedy decision making, patience when dealing with language barriers, and alternative ways of doing business with people from cultures different than her own.

The competitions have proved so valuable to Divya’s professional development that she is now getting ready to launch UBIQUE as a real-life startup.

That entrepreneurial mindset is an important part of the MBA at MIP Politecnico di Milano. The startup mentality is something the school helps to cultivate throughout the curriculum with the dedicated PoliHub incubator—ranked second in Europe and third in the world by UBI Global—which offers support and services to budding entrepreneurs.

Why creatives should study an MBA

It is, in part, because of these competitions that Divya believes MBAs are such important tools for creatives.

Whilst many complete an MBA for the rapid career progression and salary increase after graduating, Divya thinks creatives can tend to view an MBA as more of a tool for self-development.

It can help to position creative professionals well for disruptions in their respective industries, as they understand the nitty-gritty numbers as much as the creative process.

“If you don’t study things like finance operations it’s hard to pick them up on your own,” Divya says, “learning how to read reports, and how to understand your business from all viewpoints, puts you in a better position to genuinely evaluate how you’re doing.”

Divya also believes that her creative background is enhancing the dialogue of her class, as she’s providing an alternative outlook to business problems that many of her peers (from more traditional MBA backgrounds) are not familiar with but are equally excited about and benefiting from.

“Teamwork is the basis of all the competitions,” she concludes, “and it’s the mixture of backgrounds and nationalities that perfectly blend creative, analytical, and business thinking which MBAs can thrive off.”

 

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