Waverly Deutsch, Clinical Professor of Entrepreneurship, Starr Marcello, Director of Operations for the Polsky Center for Entrepreneurship, and current students available to answer your questions about Entrepreneurship, Private Equity, Venture Capital, Social Entrepreneurship, Family Business, Energy and the Polsky Center.
| Moderator: | Welcome to the chat. The chat will begin in 11
minutes. Feel free to start submitting your questions. |
| Moderator: | Welcome to the chat. The chat will begin in a few
minutes. Please familiarize yourselves with our chatters by taking a look at
their bios at
http://www.chicagobooth.edu/boothconnect/fulltime/2.3.11Entrepreneurship.aspx |
| Stephanie: | Hi, I'm Stephanie, and I'm a second year MBA
student at Chicago Booth. I'm excited to be here to answer your questions! |
| Sarah: | Hi, I'm Sarah Outland, the Assistant Director of
the Career Resource Center. |
| Kirsten: | Hello I'm Kirsten Nelson, one of the Career
Coaches in Career Services. I work with students pursuing VC and
entrepreneurship/ start up career paths. |
| Laura: | Hi everyone, I'm a second year Booth student.
Excited to help answer all of your questions. |
| Scott: | Hi everyone! My name is Scott and I'm a second
year student at Booth. I look forward to chatting with everyone. |
| Bryce: | Hello everyone! I'm Bryce from the Admissions
team and look forward to answering some of your questions today. |
| Starr: | Welcome! I'm Starr, the Director of Operations
for the Polsky Center for Entrepreneurship. I work closely with students and
alumni launching new businesses, and connect them to the resources of the
Center. Looking forward to answering your questions. |
| Waverly: | Hello all. I teach a class called Bulding the New
Venture and coach the New Venture Challenge competition. I am looking forward
to your questions on entrepreneurship at Booth. (It's awesome by the way.) |
| Moderator: | Thank you for joining our live chat! The chat has
now begun. Please feel free to submit them anytime by entering them below. |
| Nikhil: | Hi, I'm Nik, a 4th year jd/mba (2nd year mba
student). I'm happy to answer any questions about pe/vc research, PE Lab
internships, and entrepreneurship at Booth! |
| Rishi: | Hello. How has the entrepreneurship program and
the polsky center evolved over recent years? |
| Waverly: | Rishi, Booth began making significant investments
in entrepreneurship programs and curriculum in the 90's. Today we have a fully
funded center, a rich deep curriculum, great student programs and conferences
and a widely acclaimed business competition that launches 3-6 companies per
year. Oh and you'll love all our great faculty! |
| Michael: | How many students does Booth typically place in
the Venture Capital internship program? Typically how many students from Booth
pursue a career in venture capital directly after graduating from Booth? |
| Starr: | Hi Michael. Thanks for your question. Booth runs
a venture capital and private equity lab class, which places students in
internships with these firms during the academic year. This year, we have
approximately 60 students participating in the lab. We have a small but
dedicated group of students that pursue careers in venture capital directly
after graduating from Booth. Several alumni are able to move into VC positions
directly after graduation, however, the field is highly competitive. |
| Michael: | Can you detail the relationship betwen Arch
Ventures and Booth? Does Arch ventures accept Booth students as interns? |
| Waverly: | ARCH spun out from a collaboration between
University of Chicago and the Argonne labs about 20 years ago. It is probably
the largest tech fund in Chicago. We have a great relationship with them. They
participate in judging the New Venture Challenge finals and typically take one
or two interns for the Private Equity Lab and are involved in our new clean
energy programs. |
| Michael: | From your prepsective, what technical skills do
venture capital firms look for in students when recruiting (e.g. advanced /
engineering degrees, startup experience, etc.)? |
| Kirsten: | VC firms will look for a range of technical
skills; having domain expertise in a given industry which they invest in (i.e.
high tech or healthcare) or previous operational experience, perhaps running
your own business or working in start ups. Additionally, having a strong
network in a given sector or in the entrepreneurial space. |
| Michael: | What opportunities exist for entrepreneurs from
both the Business, Medical. Law and other graduate level programs (e.g.
computer science) to collaborate and learn from each other. |
| Nikhil: | Lots! The most successful NVC exit to date is by
a jd/mba student, and year before last the 3rd place finish was a business
started at the Law School. Booth encourages recruiting team members from phd,
law, and the med school. These students participate in the Venture Capital
Investment Competition (http://student.chicagobooth.edu/group/evc/vcic/2011/)
and the New Venture Challenge (research.chicagobooth.edu/nvc). Booth fosters
this participation by organizing meetups, pitch events, online groups, and
emailing members at other schools. |
| Allison: | Hi All, and thank so much for hosting this chat! I
have a question about summer internships - what kind of opportunities are
available for students interested in social entrepreneurship? |
| Stephanie: | There are many great internship opportunities for
students interested in social entrepreneurship. Several socially oriented
start-ups recruit Booth students for the summer. Additionally, students can
apply for an Entrepreneurial Internship Program (EIP) grant and use the funds
to work at smaller start-ups (including socially oriented ones). Here is some
more information: http://www.chicagobooth.edu/entrepreneurship/curriculum/courses-labs/EIP/index.aspx |
| nikolay_kuzmin_1: | What role Private Equity and Entrepreneurship
& Venture Capital groups play in terms of helping students to land a job in
private equity? Is there any application process students must go through in
order to become a member of those groups? |
| Scott: | Membership with student groups is open to all,
but the fee to join each club varies. Both the PE Group and the EVC Group are
great resources for identifying opportunities within private equity, however
the PE Group tends to have a tighter focus on private equity versus venture
capital. Groups also list job opportunities and hold events / conferences where
students can meet with private equity professionals. |
| Michael: | Within the arena of entrepreneurship, can you please
describe any specific classes and/or internship opportunities available for
students within the IT, Life Science, and Green Tech arenas? What separates
Booth's program from others that also focus on these three fields of
innovation? |
| Starr: | Hi Michael. There are several classes that
provide opportunities for students to intern for start-ups in IT, Life
Sciences, and Green Tech. We have a course called "New Venture Lab"
that brings a mix of start-ups into Booth - students work in teams directly
with an entrepreneur to work on a strategic decision within the business. We
also have a "Clean Tech Lab" class in which students work with
start-ups specifically in clean energy/green tech. Internship opportunities are
also available over the summer through our Entrepreneurial Internship Program
(EIP). Through the EIP, the Polsky Center provides funding for students to work
at start-ups around the world for the summer. One of the unique aspects of
Booth's program related to the three fields of innovation you identified is
that the school utilizes the breadth of the business community in Chicago.
Chicago has strong high tech, green tech, and life science business networks. |
| Hampus: | I am taking credits at Booth and am interested of
joining the full time program. Could you please tell me about the New Venture
challenge |
| Laura: | Hampus, I participated in New Venture Challenge
last year. It's a competition which is intended to help both full-time and
part-time students plan and launch businesses. If you want to participate, no
need to wait until you enroll full time. Non-Booth students can participate as
long as one Booth student is part of the team. Teams will be announced later
this week - if you're interested in being part of it this year, feel free to
reach out to people and get involved. |
| farhanahmed: | I am really interested in the 'Building an
Internet Startup' class being offered this Winter quarter. Learning from Brad
Keywell and Eric Lefkofsky would be exciting! Will this class be offered in the
future or is this a one time thing? |
| Laura: | farhanahmed, I'm in Building Internet Start Ups
right now and it's a great class! At the moment Brad and Eric haven't
officially signed on for the next class but everyone here at Booth certainly
wants to make that happen. |
| nikolay_kuzmin_1: | How does Chicago Booth differentiate itself from
other top-tier schools that have strong reputation in entrepreneurial studies? |
| Waverly: | Nikolay, all the great schools that feature
entrepreneurship as a competency - Harvard, Stanford, Wharton, MIT - have great
faculty and classes. Booth is the most self directed with the most flexibility
in the curriculum. Beyond that we offer a lot of experiential opportunities not
featured at other schools. We have lab classes working with start-ups, social
ventures, key new product launches and private equity. We have a funded summer
internship program where students can work with entrepreneurs or building their
own businesses. The strength of everything we do stems from the rigor of the
University of Chicago approach which makes our business competition one of the
hardest and most effective anywhere launching 3-6 companies a year that get
recognition and funding on both coasts - not just in the Midwest. Oh, and my
class is a completely unique award winning simulation - you won't find anything
like it on entrepreneurial execution - the actual "what do you do"
when starting your business (if I do say so myself). |
| Michael: | What advice do you have for students wanting to
pursue a career in venture capital - in terms of experiences to be gained
before, during, and after Booth? |
| Scott: | Venture capital firms vary in the backgrounds of
people they are looking to hire. Some firms tend to favor people with more of
an entrepreneurial/operating background while other firms like to hire people
with more finance/prior venture experience. So it's difficult to predict, but
I'm finding that more early stage venture firms are favoring operating
experience among the people they are hiring. |
| G-255419035: | Nik, what are some examples internships that you
or your classmates have done, and how have they prepared you to run your own
business? |
| Nikhil: | There are three types of internships that help
with running businesses: operating, investing, and advisory. In the investing
bucket, I interned at a Healthcare VC fund called Seneca Partners, which showed
me how investors evaluate businesses. In the advisory bucket, I've worked at
Wachtell Lipton (law), Goldman Sachs and Boston Consulting Group. These
internships which showed me how to value a company, value a market, and
evaluate legal risk. In the operating bucket, I worked on a start-up last year
(peelable paint), and this year I co-founded a start-up in October to help
students pay less for the coursepacks they need for school. My friends have
also interned at start-ups like Y-Charts, Groupon, and others. |
| dn: | What do the students who are interested in
Entrepreneurship and VC focus for their Internships? I see many opportunities
for Consulting and Finance sectors; are there many internship opportunities for
this path as well? |
| Laura: | dn, there are lots of internship opportunities in
entrepreneurship and a few less in venture capital. While companies in
consulting and finance often know their employment requirements well ahead of
time, start ups and venture capital firms tend to hire just in time. This means
the job search tends to be the most intense later in the year, generally from
March to June. |
| steven81882: | Wow great panel! Thanks for taking the time. Can
you speak to some of the successful business ventures people have launched
post-Booth? |
| Waverly: | Steven, I love to talk about this. Booth has
launched companies getting national acclaim like Bump and GrubHub (many of you
may have used those). But even more important than the big internet successes
that everyone gets so excited about we consistently launch 3-6 companies every
year that you've never heard of. Companies like ReTel, Incontext Solutions,
FeeFighters, EduLender, MathZee, Future Simple, ProOnGo and many more create
hundreds of jobs and build tons of value. Will yours be next? |
| Nachi: | Hi, can you tell me how mature is the program in
the field of social enterpreneurship, has there been any focus on this area |
| Stephanie: | There are many exciting social entrepreneurship
opportunities at Booth. In addition to classes offered by faculty and projects
run through student groups, Booth is in its inaugural year of the Social
Venture Challenge. Several speakers and events also occur on campus. For
instance, tomorrow we are hosting a conference entitled "The triple-bottom
line: Exploring social impact in the for-profit sector." |
| Diana: | Hi All! I wanted to know how common is it for
first-years to come in already owning their own business and is it manageable
to continue that business while pursuing a Booth MBA? |
| Starr: | Hi Diana! Several students enter Booth with their
own business already up and running. One recent example of this is a company
called GrubHub (www.grubhub.com). For students in this position, there are many
opportunities for students to continue growing their businesses while pursuing
their MBA - though you will be quite busy! You have the opportunity to apply
much of what you learn in the classroom directly to your business, and see the
immediate impacts. Depending on how far the business is when you enter school,
you may be able to take it through the New Venture Challenge business
competition, which can no only connect you with mentors and coaches, but also
improve your business model and introduce you to potential funders. The Polsky
Center recognizes the difficulty of running a business while in school, and we
actually give out an annual award to recognize a student who has reached
significant milestones in growing their own business while in school. |
| jtepper: | Roughly, what percentage of students who graduate
through the Entrepreneurship program work for a start up, vs. PE/VC or other
industries such as consulting? |
| Sarah: | Hi, jtepper. A high concentration of students
focus on entrepreneurship at Booth. That being said, the Employment Report
(http://www.chicagobooth.edu/employmentreport/index.aspx) will show you where
students go (by industry, function, location, and company) for both full-time
and internship positions. |
| G-255427123: | What complementary coursework is recommended for
all students seeking a concentration in Entrepreneurship? |
| Laura: | The coursework that tends to go well with
entrepreneurship concentrations are other areas that start ups need to focus
on: marketing, finance and operations come to mind. I'm currently taking the
marketing class "Developing New Products and Services" with
Middlebrooks and am finding that really useful for my start up. |
| LaviniaP: | Hi everyone! Star, in what ways can students who
are interested in venture capital and private equity get engaged with the
Polsky Center? |
| Scott: | I'm going to jump in to answer this one for
Starr. As a student, it is very easy to engage with the Polsky Center. In my
personal experience, I walked into Polsky before school even started -
introduced myself and said I was interested in entrepreneurship and wanted to
be involved as much as I could. They were incredibly welcoming and remain that
way to this day. I would strongly encourage you to engage with them early in
your time here because they are great resources! |
| Jdtaylor: | how hard is it to get an associate position with
hyde park angels? |
| Starr: | Hi Jdtaylor. The associate positions with Hyde
Park Angels (HPA) are competitive. HPA takes 6 associates at the start of the
academic year; this year they received 75 applications for these 6 slots. It is
an amazing experience if you are able to secure one of the positions. Laura
Shapland, who is a 2nd year student on this chat, is a current HPA associate
and could tell you more about the experience she has had. |
| Bistra: | Thank you for participating in this chat. I am
very interested in Social Entrepreneurship, but could not find many Booth
students who were taking some of the SE courses and labs offered at Booth.
Could you comment on the various curriculum opportunities and carrer placement
assistance that are offerred by Booth for students interested in SE? |
| Stephanie: | There are two classes that are popular at Booth
in the area of social entrepreneurship. One is the Social Entrepreneurship Lab
taught by Linda Darragh, which combines lectures and cases with a quarter-long
consulting engagement with a social enterprise in the Chicago area. The other
is New Social Ventures taught by Rob Gertner, in which students work on
developing their own social enterprise idea. In terms of career placement
assistance, Booth's Career Services provides specially tailored programs for
students seeking SE opportunities. And the Entrepreneurial Internship Program
(EIP) lets students apply for funding to work at start-ups (including socially
oriented ones) over the summer. |
| Andrew: | Hello. Can anyone could share their experience
with Booth's PE/VC Lab and how it prepared them for internships and/or
full-time positions in PE/VC? |
| Nikhil: | I interned at Seneca Partners (healthcare vc
fund) through the PE/VC Lab. The lab prepares students in two ways for
internships/full time - i) operational experience and ii) contacts/credibility.
For i), what you work on is part luck based on what deals are happening at the
firm, and part preparation in terms of relaying to the employer what you are
interested in working on. In my internship I conducted industry research to see
new avenues for a start-up to increase revenue, did a valuation of a start-up,
listened to entrepreneurs pitch and reviewed plans, attended Monday morning
partner meetings, and flew to the annual investor conference and capital
meeting to raise money for the new fund. For ii), the PE/VC community is very
small. Knowing someone in the community, like through the PE Lab, helps open
doors and tap into the PE/VC network. And getting that first meeting is half
the battle. It also makes internship and full-time conversations much richer
with relationships you bring to the table. |
| imraan: | Professor Deusch, could you please talk a little
bit about your "Building the New Venture" class? I am really
interested in learning more. Through students I have heard that the course is
an amazing experience and simulates the creation and daily operation of a small
business? |
| Waverly: | Imraan, I love talking about my class because it
is so fun and I think people learn better when they are having a good time.
Your summary is right. We launch hypothetical business based on the student
teams' interests in every imaginable industry and business model. During the
quarter those businesses raise money, launch, hire people, develop products and
services, select target markets, engage in selling and partnering, work on
operations process - oh yeah, and face a crisis. The key is that all of this
fiction needs to be grounded in solid research so that the accomplishments of
the fake company could happen in the real world. Ask my students but they tell
me it is as close as you can get to the experience of starting a company in a
classroom. Some of them report waking up in a sweat wondering about their
company making payroll or landing a big account - a very real entrepreneurial
experience. [The class won a national award but I am too modest to mention that
:) ] |
| OA: | Thanks for taking the time answering questions,
this one is for Laura, can you please tell about the Entrepreneurial Internship
Program? what is it iexactly? |
| Laura: | The Entrepreneurial Internship Program is
specifically designed to give students the financial support to explore
entrepreneurship through summer internships. Basically, you apply to the
program and then either apply to start ups through school or find start up
companies you want to work for on your own (you can also work on your own start
up). EIP provides a stipend and students generally ask that start up companies
match that. |
| nikolay_kuzmin_1: | Hi there. Thank you for taking your time to chat
with us. I have a perception that there is no typical private equity firm;
hence, there is no typical interview for PE firms in contrast to interviews for
consulting and investment banking jobs that are more structured and focused.
How does Booth help their students to prepare for interviews with PE firms?
Could you also expand a little on the specifics of recruiting process for PE
firms? When does it start? Are there any time constraints, for example a
student must secure his internship by XX date? What activities students usually
are involved during the recruiting season? |
| Kirsten: | Depending on the type of PE firm there can be
some differences in the types of questions asked, and depending on your
background the questions they focus on may vary (i.e. IB background vs.
consulting). However, typically both fit and technical skills are key
components firms will look to evaluate. There are a number of ways Booth will
help you prepare: we offer multiple interview programs where you will have a
chance to interact with second years to talk about what to expect and how to
prepare, as well as practice different components of the interview; we also
have sample PE Interview FAQ's, as well as offer programs where you will have a
chance to conduct mock interviews with second years for both the function and
firm-specific interview practice. Additionally, the PE student group will offer
support through bringing in alumni, guest speakers and practicing/ talking with
second year students. The recruiting process for PE is primarily network based
and mainly will be off campus. We recommend starting the networking process
early in the fall, although many firms will do just in time hiring and it will
be common that many students won't land their PE internships until spring/early
summer. There really aren't any time constraints, but the more proactive
students can be in the networking/informational interview process this will
increase chances of being successful in the process. There are a number of
activities students can participant in, like the PE/VC Lab, being involved in
the PE student group, attending conferences, etc. and activities related to the
industry to keep abreast of trends and to build your network. |
| ktoubes: | Hi, I'm working right now in consulting and I'm
interested in taking entrepreneur classes. At the end of the MBA, I want to
work several years in consulting, and I would like to know if recruiters would
see me in disadvantage compared to other students that took more general management
courses during the MBA. |
| Stephanie: | Recruiters from consulting firms look for a
variety of backgrounds and skill sets, so taking entrepreneurial classes will
definitely not disadvantage you. To use myself as an example, my concentrations
at Booth are Entrepreneurship and Economics, and I have accepted a full-time
offer from a consulting firm. |
| Flower: | what characteristics do you consider important
students should have if they are thinking about entrpreneurship? |
| Scott: | Flower - this is a tough question, because great
entrepreneurs come in all shapes and sizes. I think a few of the most important
are taking initiative without being told, humility and desire to take risks.
Building your own business or pursuing more of an entrepreneurial opportunity is
likely going to require setting your own schedule and taking your own
initiatives. Additionally, you'll probably be told your idea isn't any good
plenty of times, so you've got to have a bit of humility to get through the
tough patches. Finally, pursuing an entrepreneurial path requires taking more
risk than a traditional career route. Most people pursuing entrepreneurship
don't secure jobs until the last quarter, while students pursuing more
traditional career paths secure jobs many months earlier. |
| chriskun: | do most students who pursue entrepreneurship stay
in the chicago area ? How many go to the west coast/bay area post graduation? |
| Sarah: | Hi, chriskun! It's tricky to break out
entrepreneurship from the location information we track with our students and recent
alums. That being said, you can see where students go post-graduation (as well
as for internships) on our Employment Report
(http://www.chicagobooth.edu/employmentreport/location.aspx). A lot of students
stay in Chicago, but more leave Chicago than stay, in general. |
| G-167051061: | Hello guys! I am very interested in the
Entrepreneurship track, focused on Social Impact. I have read that this year,
the first Social New Venture Challenge will take place. Can you tell me a
little bit about it |
| Starr: | I'm happy to tell you a little about the Social
New Venture Challenge. This year is our pilot year of running this track of the
New Venture Challenge. We selected 12 teams to advance in the Social NVC, and
to take a class with Professor Rob Gertner on launching new social ventures.
These teams will also be coached by Linda Darragh, Director of Entrepreneurship
Programs in the Polsky Center. Professors Gertner and Darragh will be working
with each of these teams to determine their viability and launch their ventures.
We have prize money (at least $25K) that will be awarded out to the best social
ventures to come out of the competition this year. |
| G-255431708: | For current students...did any of you enter
entrepreneurship with a reservation such as, "I might not really need an
MBA for this," and end up very surprised by something you
found/learned/discovered at Booth? If so, what is that thing/what are those
things? |
| Laura: | I had exactly that thought and that's partly why
it took me so long to return to school to get my MBA. In the end, I decided to
get an MBA primarily because I wanted to have time to focus exclusively on it
(as opposed to my day job which kept distracting me) and I really wanted to get
access to the entrepreneurial community I knew was available. The thing that's
surprised me the most is how willing everyone is to go out of their way to help
me in my entrepreneurial pursuits. From Polsky staff to other students to
faculty to alumni, I have gotten enthusiastic support, great advice and ever so
helpful introductions as I pursue my passion. |
| Mark: | Nikhil: Can you please talk about the jd/mba
program, and how it is percieved in the marketplace by PE/VC firms and
Investment Banks? |
| Nikhil: | I blog regularly about the jd/mba program at
uchicagojdmba.posterous.com. For investment banking, check out this post:
http://uchicagojdmba.posterous.com/im-going-to-law-school-and-getting-a-jd-to-be |
| Nikhil: | For PE/VC firms, the jd/mba program is not going
to be necessary or sufficient to get a job. But it can greatly enhance a skill
set you already have. You'll find someone with a legal background in almost
every PE shop you look at. The founder of Carlyle, for example, is a University
of Chicago Law alum!
http://uchicagojdmba.posterous.com/rubenstein-donates-to-uchicago-law |
| Nikhil: | Ibanking, pe, and vc are transaction related
fields. Having the business skills to evaluate a deal, and the legal skills to
understand the risks a deal creates is highly valued by firms that do
transactions. |
| chriskun: | Are there specific classes or events that help
students form teams to inccubate ideas; in my particular case, I don't have an
idea yet for a business but want to work with other students on developing
different business ideas. |
| Laura: | chriskun, that's a great question. The
Entrepreneurship and Venture Capital (EVC) student group has a specific set of
programming called Start Up Factory which is designed to do exactly that. The
programming is timed with New Venture Challenge: in the fall you meet with
other students and exchange ideas to form teams; in the winter you do market
research and write business plans; in the spring you execute on the plan and
launch the business. In fact, I met two of my three New Venture Challenge
teammates in the first week of classes - we came up with the idea together. |
| Mike: | Hello. Those interested in growing existing family
run organization. What does booth offer as far as classes and labs? Thanks |
| Starr: | Hi Mike. Booth has a student group that focuses
on providing programming related to Family Businesses. The Polsky Center
sponsors this group and helps them develop additional educational opportunities
(lunch and learns, speakers) related to issues that family businesses uniquely
face. At this time, we do not have a specific course that focuses on family
businesses. However, several of the "host firms" that participate in
our lab classes, such as the New Venture Lab, are family businesses. |
| Moderator: | There are 30 minutes left in the chat. Please
continue to submit your questions and we will answer as many as we can! |
| G-255415894: | My passion is social enterprise and corporate
social responsibility but am ridiculously frightened of launching out on my
own. Is there recruitment at Booth by larger non-profits and the public sector
(ie: dept of Ed)? Does the social venture student have to seek out these
companines? And can the Polsky Center help me become bold enough to actually
launch a venture? |
| Stephanie: | I'm glad you asked -- I actually spent the summer
working at the U.S. Department of Education! Several larger non-profits and
public sector agencies do recruit through Booth's career services. A few
examples are Chicago Public Schools, the Civic Consulting Alliance, and
Bridgespan (where I am headed after graduation). In terms of working up to
being "bold," there is a great community inside the Polsky Center and
within student groups to help you make that the best choice for you -- lots of
people here are in the same boat! |
| Phil: | Hi all - thanks for taking the time for the chat
today. I come from a more traditional finance background. I've worked with tech
companies for six years as an investment banker and am planning to transition
into a career in entrepreneurship. How feasible is it for someone with my
background to utilize Polsky's resources to make that transition? Does the
Polsky Center have a history of helping students lacking VC or entrepreneurial
experience successfully making that transition? Thanks. |
| Kirsten: | It is absolutely feasible for you to utilize
resources both from Polsky Center and from Career Services. You will have a
chance to learn about all the resources both offices provide in the fall and we
work closely to provide student programming and support with the
Entrepreneurship and Venture Capital student Group. Students with diverse
backgrounds/experience are successful every year transitioning into roles in
start-ups and in the entrepreneurial space, through identifying your strengths
and value proposition and identifying companies/ opportunities where there is a
good match with the skills and background you bring. |
| Clearline: | With the recent attention Chicago's (the city)
start-up industry has gotten (groupon, lightbank, etc), has Booth begun to see
more students going the start-up route? |
| Waverly: | Booth is certainly attracting a lot more students
because of the entrepreneurship education you can get here and many of our
graduates do pursue their own ventures or go into VC and PE. I have mentioned
that we launch about 3-6 companies straight out of the New Venture Challenge
every year. But, it is a relatively small percentage because many of our
entrepreneurship students think (and rightly so) that industry, management,
operational experience will make them a better entrepreneur so they first take
jobs. We get dozens of alum every year contacting us to report that they are
now leaving jobs to start their firms and we love hearing that.
Entrepreneurship skills are useful in any career - large companies are actually
looking for entrepreneurship concentrations because of the holistic look at
businesses it involves - and they never expire. |
| valleyboy: | How soon can a new student get involved in
Entrepreneurial activities if he/she comes in with some background and/or ideas
? |
| Laura: | valleyboy, you'll find that people come to Booth
raring to go. In the past two years entrepreneurial-minded students have
organized informal drinks and get-togethers well before the first classes are
in session. The EVC student group also organizes events as soon as school is in
session. |
| Paul: | Could you briefly explain the steps students must
take in order to receive consideration for the Entrepreneurial Internship
Program (EIP)? Is there a cap on the number of students who can receive these
subsidized internships? |
| Starr: | Hi Paul. There is a cap on the number of students
who can receive subsidized internships with start-ups through the EIP program.
This year, we have funding for 40 students. We have an application (very
simple) for students to submit if they want to gain entry to the EIP.
Applications are evaluated by members of the Polsky Center, Career Services,
and the Dean's Office. We will often request to meet with you in person to
learn more about your entrepreneurial goals, both short and long term, to make
sure the EIP is the right program for you. |
| G-255423951: | What networking opportunities does Booth provide
within the PE/VC sectors? |
| Scott: | There are numerous networking opportunities
through Booth for both PE and VC. The PE Group and EVC Group both hold
conferences every year where students can meet investment professionals in
either PE or VC. Additionally, there are a plethora of Booth alumni working in
PE and VC who regularly come speak on campus at Lunch and Learns. I've also
been able to meet a number of VC professionals through the Venture Capital
Investment Competition which is held at Booth every year. Students participate
in the event and the winning team moves on to regionals and potentially
nationals. |
| G-255466260: | If a student wants toi start a soccer venture such
as consultancy or a magazine , is there aan environ ment at Booth to start such
offbeat ventures apart from the usual ones ? |
| Laura: | Absolutely! In fact, the winner of New Venture
Challenge a couple of years ago, Captain U, helps high school athletes find the
right colleges to play their preferred sport. Guess where they're starting? You
got it - soccer! |
| jtepper__Guest_: | Would you encourage a first year MBA student
interested in Entrepreneurship to do a summer internship program through a
larger corporation or to gain direct start-up experience? |
| Kirsten: | It can depend on your background and what your
goals are for working in the entrepreneurial space (i.e. interested in starting
your own business, work for a start up, etc.)but typically going and getting
that experience over the summer and working for a start up, etc. can be
extremely valuable to gain experience, and ensure this is something you want to
do long term. |
| G-254480459: | What is the teaching method for Entrereneurship -
I assume a mix of case study and theory is applied, correct? Are classes
tailored by the student's interest or are these driven from a set curriculum? I
have an idea for a social enterprise in the education/housing space. Can I
tailor my studies in order to fulfill this venture? How many students at booth
have a joint degree? |
| Waverly: | First, Booth is the school with the most self
driven curriculum of any of the great schools. Nearly everyone graduates with
multiple concentrations and entrepreneurship is the second largest next to
finance. You are absolutely right in thinking we use a variety of teaching
methods - all of the classes use cases and often live cases with visits from
entrepreneurs. We have a wide variety of lab classes. We use simulation,
practice and theory in a blend designed to reinforce all the critical
take-aways. Most of the classes allow students to focus on their personal
interests in projects. In my class, several of the hypothetical companies have
a social aim or are international in focus to support the student's own
learning aims. Hope this helps. |
| valleyboy: | Is the internship through the PE lab during the
summer or does it overlap with the academic year ? How are students selected
for the same ? Thanks |
| Nikhil: | PE Lab internships usually happen during the
winter or spring quarter. Some internships run for both quarters, and some internships
turn into summer internships. |
| Nikhil: | Students are selected for the PE Lab by
submitting an application to the class. Over the winter break, two TAs and I,
along with the Polsky Center match students with PE/VC firms based on what the
firms are looking for. What firms want can be all over the map. A PE firm may
want a student with marketing experience to evaluate a consumer foods company
currently being sold. Or a VC firm might want an engineer to evaluate the IT
systems of a healthcare business. Many people have the perception these firms
only want students with previous finance experience and that is actually not
true -- they want a fresh perspective! |
| Nikhil: | This year every student was viewed by at least 5
PE/VC firms, and this year because so many firms participated that number was
even higher. |
| Matthew_10: | Is it difficult for a student to balance their
interest between Entrepreneurship and Venture Capital? I'm interested in
exploring both while in school--should i take multiple labs or is there a
recommended grouping of electives to take to be able to maximize both fields? |
| Scott: | Matthew - that's a great question and while it is
tough, it can certainly be done. There is a tremendous amount of overlap
between VC and entrepreneurship and there is a single student group dedicated
to both areas (Entrepreneurship and Venture Capital Group). As for classes,
there are a number of classes that explore both topics including
Commercializing Innovation and Entrepreneurial Finance and Private Equity. The PE/VC
lab is a great opportunity to get some VC experience while your in school and
some folks either parlay that opportunity into a full-time position or pursue
an entrepreneurial internship. The Entrepreneurial Internship Program (EIP)
helps to place students with entrepreneurial opportunities and funds part of
their salary for the summer. So you could do both the PE/VC lab and EIP to get
exposure to both areas by the time you're done with first year. |
| G-255427123: | Is it possible to launch multiple ventures while
at Booth? Is a single launch too time-consuming given the rigor of the program? |
| Starr: | While it is possible to launch multiple ventures
while at Booth, if you get significant traction with one of the ventures, your
time will be very limited between moving this venture forward and completing
your academic coursework. Oftentimes, students with more than one idea for a
new venture will submit several entries to the New Venture Challenge and see
which one scores highest for viability with the faculty and judges. |
| makkivelli: | How is Chicago Booth competing with Stanford when
it comes to Social Entrepreneurship? |
| Stephanie: | Booth has some tremendous offerings in social
entrepreneurship and continues to develop more every year. In the classroom,
the two most popular course offerings in this area are the Social
Entrepreneurship Lab and New Social Ventures. Outside of the classroom, student
groups like Entrepreneurship and Venture Capital (EVC) and Net Impact provide
consulting project opportunities and support for developing your own social
enterprise. They also put on several events, such as a conference we are having
here tomorrow entitled, "The triple-bottom line: Exploring social impact
in the for-profit sector." Also, for the first time this year, Booth is holding
a Social Venture Challenge. |
| Michael: | Are there any curriculum changes that have
recently occurred? If so, can you detail? |
| Waverly: | Michael, our curriculum is changing constantly.
In the last couple of years we have added an excellent social entrepreneurship
lab/class, a unique class on entrepreneurial selling (you won't find a great
sales class at many schools), a terrific new class by two of the
founder/investors in Groupon on launching internet ventures, a clean tech
lab... We are very active in responding to demand and innovating in our
curriculum. |
| G-254480459: | Good Day and thank you for hosting the chat. What
is the % of students that "major" in Entrepreneurship and can you
elaborate on the services Booth provides for students looking to develop an
idea at Booth? |
| Starr: | Hello - entrepreneurship is currently the second
largest concentration at Chicago Booth. Approximately 50% of the graduating
students earn a concentration in entrepreneurship. Booth's resources for
students looking to develop an idea are housed at the Polsky Center and through
the Entrepreneurship and Venture Capital Student group. The New Venture
Challenge (NVC) is a great way to develop an idea and turn it into a real
business. We have had several successful companies launch through the NVC, such
as GrubHub, Bump Technologies, ReTel Technologies, etc. Both the Polsky Center
and the entrepreneurship student group have very practical, useful workshops
throughout the year on topics such as finding the right technology team,
mastering digital marketing, and acing customer acquisition. |
| farhanahmed: | Do students manage to find internships at up and
coming tech startups in the Chicago Area or the Silicon Valley during the
summer break? How many end up joining a nascent startup after graduation? |
| Sarah: | hi farhanahmed! Great question. The way we track
our students' internship and full-time employment information, it's tricky to
provide this information without being able to 'look behind the numbers' right
now. That being said, my role at Chicago Booth encompasses meeting with
students and helping them find start-ups (be they tech-related or not) based on
their criteria of interest, which is typically location, industry, and founded
or funded by Booth alums. So, though it's hard to quantify this number right
now, there are myriad resources to help you find start-ups based on your
specific interests. And a lot of the students I've met with to help find
start-ups, as well as those who I've worked with on other projects, have
successfully pursued internships and full-time opportunities in start-ups, when
they've been committed to the search. |
| SKurn: | Hi, my question is mostly tailored toward Laura
and Stephanie. As people without much direct prior entrerpeneurial and venture
capital experiences, how has Booth guided you toward these fields? Also, from a
career perspective, have you found the venture job market welcoming to those
with your background? Have Booth's resources and alumni network helped
tremendously? |
| Laura: | SKurn, I came in knowing I wanted to get
experience in both entrepreneurship and venture capital. When I got here, I
made sure to let everyone know what I was interested in - faculty, staff and
other students. Once I did that, people were more than willing to provide
introductions to really knowledgeable people and they also gave me plenty of
advice. The venture job market is competitive and the desired skill set really
depends on what each firm is investing in at that time. If you do your homework
on the firms to learn what they are up to, you can start to understand how your
background applies specifically to each case. For example, if a venture firm
were investing in a company that sells to commodity traders my background as
gasoline trader with BP would be a perfect fit. In addition, persistence helps.
I know people who were turned down for venture jobs initially but implemented
the feedback they were given and then managed to secure an internship in
venture capital. |
| Clearline: | If you look at the largest or most active private
equity funds in hiring Booth grads over the past few years, can you name a few
that actively recruit graduates? |
| Sarah: | Hi Scott. I can do even better. Each year we
track where our students have gone for full-time and internship opportunities
(by location, function, industry, and other criteria). Within this Employment
Report, we also keep a master list of all the companies who have recruiter
Chicago Booth talent. You can find that list here:
http://www.chicagobooth.edu/employmentreport/employer.aspx If you select the "View
all 2009 employers" link, you'll be able to see the full list. Note that
the data is dated 2009 - noting the end of the 2009 academic year. Information
for the 2010, charting where our recent grads and current second year students
went, is still being finalized. |
| backtoschool__Guest_: | Do many startups recruit on campus? How does
Career Services make Booth students available to these companies? |
| Kirsten: | Given the nature of start-up hiring, typically
just in time and given they are often looking to hire only 1-2 interns
recruiting on campus typically doesn't make sense or is the best option, most
will recruit off campus. However, we do have many relationships with start ups
both through Career Services and Polsky so there will be start ups that will
post their position through Career Services which students can access/ apply to
(and will interview off campus). Additionally, there will be start up firms
interested in identifying students interested in working for a start up with a
particular background/experience, etc. and we will do resume referrals of
candidates that meet their qualifications. There is also an Entrepreneurship
Resume Book that students will include their resume in and we will market and
provide to firms. |
| G-255408469: | Proffesor Deutsch, how competitive is registration
process for your new venture lab class? Do all students who want to join the
class have the opportunity to do so? |
| Waverly: | One of our weaknesses here at Booth's
entrepreneurship program (yes, we do have them) is naming classes. We have a
New Venture Lab where students work directly with small companies on a critical
business challenge taught by Professor Linda Darragh that is not application
based - you bid for it and send in your preference for project. My class,
Building the New Venture is taught five times a year by myself and several
additional times by Professor Craig Wortmann. While it is not cheap in terms of
bidding points, you will have every opportunity to get into either or both of
the classes during your two years here at Booth. |
| EG: | How important is it for someone applying to Booth
to have had prior experience in an entrepreneurial venture? |
| Bryce: | Good question! Having prior entrepreneurial
experience is certainly not required to apply. We look at your overall
application holistically and don't rely only on prior work experience. If
that's an area of interest to you, I think it's important to show your passion
and drive for those types of ventures and link that to our program offerings.
Hopefully this is helpful! |
| dn: | What are the payoffs of being in the VC and
entrepreneurship track? What is the career growth? What are the risks? |
| Scott: | In order to pursue a VC or entrepreneurship
track, you really have to be committed. While most students pursuing consulting
or banking get internships during the winter quarter, students pursuing
entrepreneurship or venture capital usually don't secure an internship until
the spring quarter. In pursuing these areas, you'll have to be comfortable
taking the risk of not having an internship or full-time position until later
in the year. Additionally, it's difficult to pursue both entrepreneurship/VC as
well as more traditional career routes. From my personal experience, I can say
that pursuing the entrepreneurial route has been extremely rewarding and while
my career may have less line of sight on a year-to-year basis, I will be a part
of growing businesses for a long time to come. |
| Bistra: | Post-MBA, I am interested in working in non-profit
management for a few years and then, hopefully, start my own social venture at
some point. I know that the Management Consulting Group at Booth provides a lot
of recruitment support to students interested in consulting jobs. However, does
it also cater to students specifically interested in non-profit consulting?
Thank you. |
| Stephanie: | Yes, there is definitely support for students
looking to work in non-profit consulting. I am actually headed to work
full-time at The Bridgespan Group after graduation, and another popular
non-profit consulting firm for students here is the Civic Consulting Alliance.
The Management Consulting Group helps by helping to connect students with these
firms, as well as with the social practices within for-profit consulting firms.
They also provide interview preparation. |
| John: | Do you know anyone pursuing a joint MPP at Harris
and MBA at Booth? |
| Nikhil: | Yes, I know a number of students pursuing dual
degrees with Booth and another professional schools. If you are specifically
interested in hearing what MBA/MPP students have to say, read through a past
chat with Adam Cox here:
http://www.chicagobooth.edu/fulltime/chat/transcript/2010-02-23.aspx |
| backtoschool: | Does Booth approach startups to take part in the
EIP or do companies approach Booth looking for students? |
| Starr: | This is a good question about the EIP; the answer
is both. We do approach start-ups to bring on interns from our EIP program,
however, many start-ups (particularly in Chicago) are aware of the EIP program
and call us to post opportunities to our EIP students. Students also have the
flexibility with the EIP to source their own internship. Most entrepreneurs are
thrilled to have an MBA intern for the summer whose compensation is subsidized
by their school! |
| SUV: | Professor Deusch, this one's straight at you :). I
work in consulting, and plan to launch my own social venture after my MBA. My
questions are - Are there any prerequisites to taking your class? and How
difficult to obtain are interships in social enterprises? |
| Waverly: | Right back at you, SUV. There are two
pre-requisites for taking my class - basic marketing and basic finance. If your
work experience warrants, I will waive them. As to your second question, we
have two great opportunities for you. One - we have a social enterprise lab
class with Professor Linda Darragh in which you do a ten week consulting
project with a social venture. Two - we reserve spots in our Entrepreneurial
Summer Internship program specifically for students who want to do that the
summer between first and second year. |
| SUV: | Sorry about that earlier post, lost my connection
mid-way. I'd like to know how involved Booth alumni are in guiding/mentoring
those with entrepreneurial ambitions? |
| Laura: | SUV, Booth alumni have been really responsive in
helping me with my start up ventures. As you might expect, e-mails from unknown
people often get lost in the shuffle, so getting a reference from a Polsky
staff member or faculty member really helps. In the process of launching my New
Venture Challenge business my team and I spoke to over 100 experts in the
field, and about half of them were alumni. In fact, one alumnus agreed to serve
on our advisory board and spent hours a week with us honing our business model. |
| andrewevans: | How strong are Booth's connections with startups
outside the Chicago area? |
| Waverly: | Andrew, while most of our community investment is
in Chicago and the Midwest region, our entrepreneurial alum are everywhere. I
spoke recently at a meeting for our entrepreneurship alum in DC, for example.
That keeps our contacts fairly robust. We have built a database of all our
entrepreneurial alum in the Polsky Center. Our summer internship program allows
students to work with any start-up anywhere and we can help you network to
people in the geography you are interested in. Finally, we are in the process
of building a "Polsky Center West" incubator in the San Francisco
area. |
| nikolay_kuzmin_1: | Hi, I have a question to Starr, if I may. I have
read in your biography that you had organized Alternative Energy Venture Forum
in 2007. Could you, please, provide some information about entrepreneurial
opportunities in clean tech sector in Chicago? How Booth assists students
interested in clean tech sector? |
| Starr: | Hi Nikolay - great question. We are actually just
a week away from our 4th annual Midwest Energy Forum (the name has changed
slightly) and graduate student Energy Forward conference. At this year's Forum
we will be awarding over $130,000 in prize money to the top clean tech
entrepreneurs (the finalists are in a range of sectors including solar,
smartgrid, and energy efficiency); the governor of Illinois will be presenting
the awards. The clean energy sector in Chicago is really taking off right now,
and Booth is highly involved in the community. We have direct relationships
with start-ups, NPOs, NGOs, and policymakers who are working in this sector.
Many of our students get greentech internships during the school year or over
the summer through our Clean Tech Lab or through the Entrepreneurial Internship
Program. The energy student group is also a great resource at Booth and holds
very valuable speaker events and lunch and learns. One quick additional thing -
the University of Chicago manages Argonne National Laboratory where innovative
clean technology research in a variety of sectors is being done. |
| G-255423951: | Hi. I am wondering about the typical post-mba
career path of students graduating from the entrepreneurship program.
Ultimately I want to be an entrepreneur but realize that I will probably not
have the wherewithal to do so. I am hoping to land a position with a top VC
firm after I obtain my MBA and then become an entrepreneur. Is this typical of
students within the program? |
| Kirsten: | Students who are interested in entrepreneurship
will pursue multiple career paths depending on their long term goals, etc. Some
will decide to start their own business, go work for a start up, work in PE or
VC, or take the more traditional path and work for a corporate firm in a given
industry, consulting firm, etc. to continue to enhance their skills and
expertise in a given area. I would say that more typically students will do the
opposite of what you are indicating, they might get an internship in VC but
then realize that getting more experience working in the entrepreneurial space,
either for a start up/ their own business or getting further domain expertise
in a given industry will help them transition into VC long term and be a more
effective venture capitalist. |
| flyguy: | Can anyone help me better understand what it means
to study Entrepreneurship? How does one (Booth) go about it? |
| Waverly: | One of the most common questions asked in
academia is "Can entrepreneurship be taught? Aren't people just born
entrepreneurs?" Entrepreneurship is a process - opportunity
identification, resource acquisition, value creation, sales, growth - and like
any process it can be taught. We teach it through cases, frameworks, theory,
data, and a lot of experiences. But, not everyone will be a great entrepreneur
just because they study it. There is a capacity, talent, inclination, drive
element to entrepreneurship just as there is in any career. You can teach
basketball. You can't make someone a great basketball player. How come no one
ever asks "Can you really teach accounting? I mean isn't someone just born
with an affinity for numbers and seeing the world in dollars and
transactions?" |
| John: | Does social entrepreneurship including those
looking at public sector focused ventures, not just non-profit or NGO work? |
| Stephanie: | Absolutely! Students interested in social
entrepreneurship work in non-profit organizations, for-profit companies, public
sector agencies, foundations, and other places where they find they can use
apply their business skills to have social impact. Specifically with regard to
your question on public sector focused ventures, a good example is the Renaissance
Schools Fund (RSF), a $40 million venture fund in Chicago focused on improving
the city's public schools. We do consulting programs for them as part of the
Social Entrepreneurship Lab class, and RSF also recruits for full-time jobs at
Booth. |
| kw: | Hi all, I would like to pursure Entrepreneurship
in the longterm but would need a job prior to that to pay off loans, build
capital etc. so how would you recommend balancing entrepreneurial studies at
the Polsky center with the traditional finance and startegy courses ? |
| Laura: | kw, a lot of students are interested in
entrepreneurship longer term (in fact, a study of Booth alums showed a peak in
entrepreneurial activity about 6-8 years after graduation). The good news is
that it's easy to get involved at whatever level fits you best. Since you'll be
pursuing finance, you'll be busiest during the winter quarter. One thing you
could do is participate on another person's New Venture Challenge team, which
is most intense in the spring quarter. This will let you experience
entrepreneurship firsthand without spending all your time on it. In addition,
once you are ready to move into entrepreneurship full time, the week long Hapak
Alumni seminar exposes recent Booth graduates to all the best
entrepreneurship-related information. |
| G-255427123: | Are applicants with Entrepreneurship as a focus
evaluated differently than candidates who intend to study more traditional
concentrations? |
| Bryce: | No, an applicant's prior work focus is only one
component of the entire application. We review all materials holistically and
compare that to the overall competitiveness of the applicant pool. Certain
concentrations are not weighed more heavily than others. |
| Michael: | Given that a large part of Venture Capital
involves counseling and advising startups, Nikhil can you talk about your
experience of being a Teaching Assistant in terms of how you obtained such a
position, what you have learned, etc. |
| Nikhil: | VC does involve counseling and advising
start-ups, however my role as a TA is a little different. I ensure that
students have a basic toolkit to do well in their PE Lab internships. This
involves creating review sessions so students understand how to value a
business, how to research an industry, and how to put together a investment
deck for a partner. I obtained the position by enjoying the class, and I spent
a lot of time preparing for the final presentation to VC partners defending an
investment. I also showed interest! |
| Mike: | Hello everyone, are there any classes geared for
students who are trying to grow web based companies? |
| Laura: | Mike, Groupon investors Brad Keywell and Eric
Lefkofsky are teaching Building Internet Start Ups this quarter, which is a new
class and sounds like it would be a perfect fit for you. Technology Strategy is
another one you might want to check out. |
| nikolay_kuzmin_1: | How challenging is to get into private equity
without having prior experience in investment banking or consulting? How one
can increase chances of getting invited for interview with PE firm and secure
summer internship? |
| Sarah: | Nikolay, without investment banking or consulting
experience, you can tap into what experience you do have when searching for,
networking with, and applying to PE firms. i.e. if you've worked in high-tech
firms in the past, finding PE firms that invest in high-tech firms is a great
place to leverage your experience and use the knowledge you have. |
| Justin: | Can you talk more about Polsky Center West? |
| Starr: | Hey Justin - good question! Polsky Center West
was started by a group of young alums who are all launching companies in San
Francisco. They went in on a joint lease for office space, and several other
start-ups have moved in to the building since that time. When entrepreneurship
faculty are on the west coast to speak or meet with alumni, they stop by Polsky
West. In addition students usually make Polsky West a destination during the
start-up trek organized by the entrepreneurship and venture capital student
group. |
| Doruk: | Hi everybody. Which concentration is preferred
generally by students with VC related goals? Finance or entrepreneurship? |
| Scott: | Doruk - I would say it varies, but you're
intuition is correct. That being said, there are a number of ways to secure a
VC position and you wouldn't be limiting yourself by pursuing other concentrations.
Both finance and entrepreneurship provide a good base to work from however. |
| Stephanie: | Thanks for all of your great questions today!
Good luck to all of you, and please don't hesitate to reach out if I can help
by answering any other questions. |
| Waverly: | What a great set of questions you all brought to
the table today. I look forward to get such thought provoking inquiry in my
classes over the next couple of years. |
| Bryce: | Thanks so much for all your questions today!
Hopefully you found the session helpful! |
| Diana: | Hi! How feasible is it for students who don't come
from a very finance-driven background (more operational) to get into VC/PE?
Will these firms consider different backgrounds and even those who have
experience with family/own business? |
| Kirsten: | It can depend on the firm and depending on if you
are pursuing VC vs. PE there are different backgrounds/ experience firms will
value. However, having strong operational skills or strategy experience, domain
expertise and working for your own business are qualities valued especially
with VC firms. |
| Scott: | Thanks everyone for participating in the chat! I
hope you make your way to Hyde Park! |
| Starr: | These were great questions! Thank you for
participating on the chat. I hope to see you in the Polsky Center in the
future! |
| Laura: | Thanks all, great chatting with you today. |
| Sarah: | Thanks, everyone. Great chatting with you today. |
| Kirsten: | It has been great chatting with all of you and
let us know if you have further questions to help in your decision process. |
| Moderator: | Thank you for participating in our live chat! The
chat has now ended. You can read a transcript of this chat within 48 hours at
http://www.chicagobooth.edu/fulltime/chat |
| Nikhil: | It was great chatting with all of you. Hope you
all enjoy Booth as much as I have! |