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MITCNC Summer Board Meeting July 28, 2009

MITCNC Summer Board Meeting July 28, 2009. Agenda. Dinner 6:00 – 7:00 PM Club Operational Review 7:00 – 7:45 PM President ’ s Report Nelson Lin Treasurer ’ s Report Mike Sarfatti IT Status Javed Samuel Breakout Sessions (concurrent) 7:45 – 8:30 PM

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MITCNC Summer Board Meeting July 28, 2009

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

  2. Agenda • Dinner 6:00 – 7:00 PM • Club Operational Review 7:00 – 7:45 PM • President’s Report Nelson Lin • Treasurer’s Report Mike Sarfatti • IT Status Javed Samuel • Breakout Sessions (concurrent) 7:45 – 8:30 PM • Evolving Alumni Demographics • Sponsorship • Club Operations in Challenging Economy • Breakout Sessions (summary) 8:30 – 9:00 PM • Board Business 9:00 – 9:15 PM • Approve minutes Elizabeth Reierstad • Document Storage John Chisholm • Nominating Committee Ron Koo • Scholarship Contribution Bill Murray • Closed Executive Session 9:15 – 9:30 PM MITCNC BOD Meeting, July 28th, 2009

  3. 1H 2009 Highlights from the Last Six Months • Addressed Cash Concerns • Cash position exceeds forecast by $14k • Reduced operating costs ~ $5k • Predominantly from replacing printed Spring newsletter with electronic newsletter • Postcard announcements of newsletter mailed to alumni inaccessible via email • Event revenue exceeded forecast by ~ $9k • Clean Tech and Angel Investment events particularly strong contributors • Continued to build volunteer base • Five new officers, including transplants from Boston and NY • Additional volunteers • Enhanced IT training materials nearly complete • Core goal is to support volunteers to leverage system’s functionality • Resurrected Programs • Career Development • Clean Tech MITCNC BOD Meeting, July 28th, 2009 Note: FY2009: August 1 – July 31.

  4. 1H 2009 Event Highlights – Past Six Months MITCNC BOD Meeting, July 28th, 2009

  5. 1H 2009 New Additions to the Leadership Team – Past Six Months • Rohit Gupta ’05 – VP Entrepreneurship • Mike Bowles ’80 – VP Career Development • Eileen Tanghal ’97 – Director Clean Tech Entrepreneurship • Mindy Hsu G’06 – Partner Organization Liaison • David Lackner G’99 – Emerging Technology Council Chair MITCNC BOD Meeting, July 28th, 2009

  6. 2007-09 Report Card: Two-Year Overview MITCNC BOD Meeting, July 28th, 2009 Poor Excellent

  7. % 2008-09 Maintaining successful programs Club Year Statistics1: • Approximately 100 events • ~3,000 estimated total attendance • Resurrected programs • Sloan Club of Northern California • Career Development • Clean Tech Entrepreneurship • New Programs • Angel Investing • Emerging Technology Council Events by Type2 (N~100) Other Entrepreneurship Sloan 9% Science & Tech; Life Sciences East Bay 23% Social • Club Year runs from Aug 1, 2008 through July 31, 2009 • Some events can cross categories; e.g., some East Bay lectures cover Scientific Topics, and some Sloan events are social in nature; some events not on club calendar not included in total MITCNC BOD Meeting, July 28th, 2009

  8. a 2008-09 Striving for Geographic Diversity Events by Location (N~100) East Bay / Sac • Almost half of events outside of the Silicon Valley • Continuing push for expanded event coverage beyond Silicon Valley SF 19% Silicon Valley North Bay MITCNC BOD Meeting, July 28th, 2009

  9. 2008-09 Thanks to our Sponsors MITCNC BOD Meeting, July 28th, 2009

  10. 2008-09 In-kind Corporate Sponsors Continue to Support the Club The following in-kind sponsors help the club tremendously by hosting events and providing catering and logistic support: WSGR Cooley Godward Kronish Google Townsend and Townsend and Crew MITCNC BOD Meeting, July 28th, 2009

  11. 2008-09 Thanks to our Entire Officer Team! • Leadership & Infrastructure • Immediate Past President – Ben Matteo • Executive Vice President – Catherine Calarco • Treasurer – Mike Sarfatti • Secretary – Elizabeth Reierstad • VP Communications – Monika Gorkani • VP Membership & Volunteer Int. – Andrey Titov* • Director Volunteer Integration – Alison Chaiken • Partnership Organization Liaison – Mindy Hsu* • Entrepreneurship Program • VP Entrepreneurship – Rohit Gupta* • Director Angel Investments – Shuja Keen • Director Boomertech – Mike Sarfatti • Director Convergence, Community and Commerce – • Vandana Upadhyay • Director Semiconductor – Alissa Fitzgerald • Director Clean Tech – Eileen Tanghal* • Director Venture Mentoring – Jennifer Wang • Science & Technology • Director Life Sciences Forum – Elizabeth Ng • Director Science Lecture Series – Charles Zhou • Emerging Technologies Council Chair – David Lackner* • Community Programs • VP East Bay Events – Bill Reenstra • VP Career Development – Mike Bowles* • VP Social Communities – Daphne Lin* • Director Sports & Recreation – John Keen • Director MIT10 – Elizabeth Lin • K-12 Educational Outreach – Joel West* • Spotlight Chair – Brad Schneider • Affiliate Organizations • Co-President Sloan Club – Eric Silverberg* and Bob Meese* • AMITA Liaison – Radha Nayak * New to team in 2008-2009 MITCNC BOD Meeting, July 28th, 2009

  12. Treasurer’s Report Mike Sarfatti ‘76 MITCNC BOD Meeting, July 28th, 2009

  13. FY 2008-09 Cash Reserves, up 10% yr/yr, ending $14k higher than forecasted in February 2009 Cash Balance $160 $136 10% $120 $113 $98 $96 $93 $87 $87 $ Thousands $80 Feb ’09 Estimate $82 $40 $0 July 2006 Feb 2007 July 2007 Feb 2008 July 2008 Feb 2009 July 2009 Major Uses of Cash • Main factors leading to higher than forecast year-end reserves are cost savings from electronic newsletter (~$5k) and increased event revenues in past six months MITCNC BOD Meeting, July 28th, 2009

  14. FY 2008-09 Financial Summary • As of 1 July 2009. Final Fiscal Year totals may differ. • 2007-08 had 3 newsletters and color brochure for membership recruitment; 2008-09 had 1 printed newsletter and traditional letter / card MITCNC BOD Meeting, July 28th, 2009

  15. Membership Update Andrey Titov ‘07 Manjari C. Bhatia ‘98 MITCNC BOD Meeting, July 28th, 2009

  16. Membership increased 14%, matching growth in our alumni database MITCNC Membership Registration 1,200 1,056 1,047 966 1,000 942 917 898 800 600 400 200 0 MITCNC BOD Meeting, July 28th, 2009

  17. Paid Membership increased 23%, with gains in all categories1 1,047 Total 1,000 942 Total 917 Total 267 128 800 70 283 76 108 Free Members2 100 600 57 Patron 80 Sustaining Regular 400 604 636 497 200 0 2006-07 2007-08 2008-09 • Potential contributing factors to increase: Spotlight, Kintera (bundled event and membership registration), and economic environment driving alumni to network • Free Memberships include Recent Grads (Class of ’06, ’07, ‘08); Cardinal & Gray Members; and current students. MITCNC BOD Meeting, July 28th, 2009

  18. On-line registration continues to grow in popularity Percent of Membership Registrations Conducted On-line 70% 64% 60% 54% 50% 40% 42% 30% 32% 24% 20% 19% 10% 0% 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 On-line memberships are immediately processed (benefit to member); mail-in registration requires manual processing and can take months for database to update MITCNC BOD Meeting, July 28th, 2009

  19. New IT System and Website Javed Samuel ’04 MITCNC BOD Meeting, July 28th, 2009

  20. New website – by the numbers • ~50 MITCNC events created and managed by Kintera • ~170 membership registrations • ~$16,000 from event registration fees • ~11,500 hits to the home page per month • ~3,000 hits to calendar page per month MITCNC BOD Meeting, July 28th, 2009 Note: FY2009: August 1 – July 31.

  21. Benefits of new Kintera system • Decentralized administrative tasks, eliminating bottleneck for posting events to website (see next slide) • Better Event Management and Reporting tools • Easier to performs tasks such as refunds • Discount Codes for affiliate groups • Reports segmented by registration type • Bundled membership and event registration • Enhanced website functionality • Upcoming Events • News feed from MIT MITCNC BOD Meeting, July 28th, 2009 Note: FY2009: August 1 – July 31.

  22. Kintera decentralizes website administration Original Website Event Org Event Org Event Org Event Org Event Org Event Org Event Org Event Org Admin Home page / Calendar Kintera Website Event Org Event Org Event Org Event Org Event Org Event Org Event Org Event Org Home page Calendar Admin MITCNC BOD Meeting, July 28th, 2009 Note: FY2009: August 1 – July 31.

  23. Kintera – outstanding items and future plans • Improved Instructions for Officers and Volunteers. • Further Synchronization with MITAA • Membership drive • Migration of email lists currently on Topica MITCNC BOD Meeting, July 28th, 2009 Note: FY2009: August 1 – July 31.

  24. www.mitcnc.org/mitangels Shuja Keen ’99 VP Angel Investment MITCNC BOD Meeting, July 28th, 2009 MITCNC BOD Meeting, July 16th, 2008

  25. MIT Angels Overview Facilitate introduction of MIT-affiliated entrepreneurs and investors Engage the start-up community with committment to invest time and money into cutting-edge, early-stage businesses Invite MIT Angels with broad experience and interest in technology, semiconductor, energy, general management, entrepreneurship, finance, consulting and law Quarterly meeting - Invite 3 startups per meeting that can benefit from advice or investment (preference for companies started by MIT alum entrepreneurs) Deal Selection Team evaluates more than 50 business plans to select the 3 presenting companies MITCNC BOD Meeting, July 28th, 2009 MITCNC BOD Meeting, July 16th, 2008

  26. Significant interest in MIT Angels Co-hosted events June 13, 2009: Cleantech Pitch Lunch at Computer History Museum Co-hosted with Organization of Pakistani Entrepreneurs (OPEN) 30 applications – invited 8 companies to present. 50 investors attended. Sponsorship / Media Partner June 26, 2009: Financing the Cleantech Vision Hosted by Reuters & Ventures Capital Journal 60% discount for MIT Alums June 3-5, 2009: 20th Annual Venture Capital Investing Conference Hosted by IBF & National Venture Capital Association 55% discount for MIT Alums Monthly: Keiretsu Forum events MITCNC BOD Meeting, July 28th, 2009 MITCNC BOD Meeting, July 16th, 2008

  27. MIT Angels – Next Steps • Expand the team • Secure a regular meeting place • Member meetings for MIT Angels / investors • Pitch meetings • Strengthen relationships with other Angel Groups • Band of Angels • The Angels’ Forum • Sandhill Angels • Harvard Angels • Create ties with Industry Associations • National Venture Capital Association etc MITCNC BOD Meeting, July 28th, 2009 MITCNC BOD Meeting, July 16th, 2008

  28. Specific Roles within the MIT Angels Team Member Outreach Committee Reach out to potential Angels – MIT entrepreneurs, investors, and other professionals Deal Sourcing Committee – leverage synergies across MITCNC MIT Venture Mentoring Service Interest groups (cleantech, semi-conductor, technology, bio-tech, etc) Reach out to MIT Entrepreneurs / professionals Deal Screening Committee Meet quarterly to select presenting committees at the quarterly Pitch meeting Entrepreneur Advocate Committee Sponsorship Team MITCNC BOD Meeting, July 28th, 2009 MITCNC BOD Meeting, July 16th, 2008

  29. MIT Angels – Upcoming Events • Investor-Only Events • Targeting potential Angels – focus on investor educations and sharing of best practices • Quarterly Pitch Events • Deal Screening Meetings • Pitch Meetings MITCNC BOD Meeting, July 28th, 2009 MITCNC BOD Meeting, July 16th, 2008

  30. Emerging Technologies CouncilKnowing is not enough; we must apply.- Leonardo da Vinci David Lackner G‘99 MITCNC BOD Meeting, July 28th, 2009

  31. Overview: What is ETC? • Like-minded group of R&D professionals drawn from multiple disciplines who are searching for, creating, developing, and harnessing next-generation technologies • Common bonds • At the cutting edge of technology in their field • Innovative development & commercialization paths required • Focus on hardware and “engineered” technology • ETC is NOT about incremental technologies nor those that are close to commercialization MITCNC BOD Meeting, July 28th, 2009

  32. Purpose: What are ETC’s goals? To create a physical and virtual space for R&D professionals to exchange ideas about emerging technologies Reinvigorate the world of engineered things Introduce and explore new theory and practices in interdisciplinary design and product development Explore new tools that allow “responsive creativity” like rapid prototyping Expand on the renaissance of makers and open source developers MITCNC BOD Meeting, July 28th, 2009

  33. Inaugural Event Purpose: “pre-EmTech” for those who are attending the MIT EmTech Conference Invited speaker:Bill Reinert, National Manager, Advanced Technology Group, Toyota Motor Sales USA Where: TBD When: Week of Sept 14th, 2009; Prior to MIT EmTech 09 (Sept 22nd– 24th) MITCNC BOD Meeting, July 28th, 2009

  34. Career Development Mike Bowles ScD ‘80 MITCNC BOD Meeting, July 28th, 2009 MITCNC BOD Meeting, Feb 17th, 2009

  35. Career Development Activities Scheduling 1st Three Outside Speakers Career coaching Using social networking as career development tool Considering consulting? Developing Career Development Team Infrastructure Bring Web Page up to Date Established Wiki for Team Use and Institutional Memory Setup Team Communication and Scheduling Processes MITCNC BOD Meeting, July 28th, 2009 MITCNC BOD Meeting, Feb 17th, 2009

  36. Sloan Club Eric Silverberg, Bob Meese, Ajit Dansingani, Abhinav Khushraj MIT Sloan ‘08 MITCNC BOD Meeting, July 28th, 2009

  37. Recent Events • April 9th happy hour with Kellogg • After-work event at Orson in SF • Organized by Bob Meese and Kellogg • Gathered about 20 Kellogg alums, 20-25 Sloan Alums • May 20th happy hour for new admits • After-work event at Bacar in SF • Organized by Eric Silverberg & Bob Meese • Gathered 10-15 new admits/guests, 15-20 alums • June 18th cocktail hour with Stanford & Princeton • After-work event at Melt in Palo Alto • Organized by Elizabeth Yin • Gathered >100 total participants, >20 MIT/MIT Sloan alums MITCNC BOD Meeting, July 28th, 2009

  38. Recent Event: MIT Sloan Volunteers in the Marin Headlands July 18th, 2009 Planting flowers for the Golden Gate Conservatory MITCNC BOD Meeting, July 28th, 2009

  39. Upcoming Events • MIT Sloan Summer Gathering, August 12th • Featuring Professor Richard Locke • Hosted annually by Richard & Susan Owen • Organized by MIT Alumni Association • The largest Sloan gathering of the year! • North Bay Gathering • Organized by Herb Meyers, Albert Richards • Venue, date still be decided • Alumni association has offered to let us use their mailing list for a date/venue survey MITCNC BOD Meeting, July 28th, 2009

  40. Clean Tech Entrepreneurship Eileen Tanghal ‘97 MITCNC BOD Meeting, July 28th, 2009

  41. Cleantech Entrepreneurship • Established in 2009 in partnership with Semiconductor Entrepreneurship program • Leverage Semiconductor infrastructure and volunteers • Topics at the intersection of business and technology • http://www.mitcnc.org/Clean_Technology_Series.htmm • Steering Committee • Director: Eileen M. Tanghal ’97 • 3-5 dedicated volunteers, looking to expand • Advisory board of distinguished colleagues • 2009-2010 Sponsors • Cooley Godward Kronish (in-kind: venue and catering) • Applied Ventures (in-kind: venue and catering for one event) MITCNC BOD Meeting, July 28th, 2009

  42. Cleantech Entrepreneurship2009 Events • May 2009: Accelerating Energy Management Rollout panel Panelists included • Matthew Denesuk, Partner, Venture Capital Group, IBM • Matt Smith, VP Marketing, Greenbox Technologies • Peter Sharer, CEO, Agilewaves • Linda Hanson, Echelon, VP Corporate Marketing • Sumeet Jain, Senior Partner, CMEA Capital • Bill Shetti, Managing Director Storm Ventures and Board Member Demi Energy • July 2009: Summer Mixer featuring Eleanor, the MIT Solar Electric Vehicle • September 2009: Light it UP (next generation lighting technology) MITCNC BOD Meeting, July 28th, 2009

  43. Summer Mixer…featuring Eleanor the MIT Solar Car June 16th at Cooley Godward Kronish in Palo Alto Roughly 80 alumni and friends attended, with Eleanor proving a big hit MITCNC BOD Meeting, July 28th, 2009

  44. Cleantech Entrepreneurship • Strong Beginning • A good re-start of the series • Have managed to recruit some top speakers • Good attendance by MIT alumni • Challenges Ahead • Director bandwidth • Consistent participation by volunteers • Sponsorships: reduction in available sponsorship money due to economic downturn MITCNC BOD Meeting, July 28th, 2009

  45. Evolving Alumni Base Demographics

  46. 10,679 Our Alumni Base has grown significantly over the past ten years 3,764 MITCNC BOD Meeting, July 28th, 2009

  47. % Young Alums constitute a smaller portion of our base than they did 20 years ago Average age 40 40 45 48 36 36 42 44 Median age 22% 28% 2000’s 2009: 52% graduated at last two decades ago 26% 1990’s 1980’s 1989: 32% had graduated at last two decades earlier 1970’s 1960’s 29% 1950’s 1940’s 20% 14% 1930’s 10% 15% 9% 8% 5% 4% 4% 3% 1984 1989 1999 2009 MITCNC BOD Meeting, July 28th, 2009

  48. e The percentage of women have increased Male Female MITCNC BOD Meeting, July 28th, 2009

  49. d Graduate alums represent a gradually increasing proportion of our base Undergrad Grad MITCNC BOD Meeting, July 28th, 2009

  50. 9 Alumni Base by Major 30% 25% 20% Percent of Alums 15% 10% 5% 0% 1984 1989 1999 2009 Sloan MBA Physics Life Sciences Math EE Mech Eng Chem E EE still department with greatest representation MITCNC BOD Meeting, July 28th, 2009

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