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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Summer Board MeetingJuly 27, 2010
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Agenda
• Dinner 6:00 – 7:00 PM
• Club Operational Review 7:00 – 7:45 PM– President’s Report Catherine Calarco
– Treasurer’s Report Mike Sarfatti
– Officers Reports (Q&A) All
• Breakout Sessions (concurrent) 7:45 – 8:30 PM– Promoting Club Membership and Events
– Planning 150-year MIT Anniversary Celebration in NorCal
– Increasing Sponsorships
• Breakout Sessions (summary) 8:30 – 9:00 PM
• Board Business 9:00 – 9:15 PM– Approve minutes
– Board Operation & New Committees John Chisholm
– Nominating Committee Ed Tau
– Scholarship Contribution Bill Murray
• Closed Executive Session 9:15 – 9:30 PM
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Alumni Community; Its all about People
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Responses to Feb BOD Meeting – Summary
04/19/23
1) Increased number, relevance and diversity of events in Spring, 2010
2) For Spotlight 2010, recruited Google as premium sponsor and MITAA to co-host
3) Survey to determine member unmet needs under development and planned for deployment for Fall ’10
4) Strategy and Goals set for 2010/11
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
MITCNC 2009-10 in Review: Achievements
• Increased number of events delivering value to our community– Over 143 total
• Aligned many events with MIT Strategic Initiatives– K-12 and Energy Initiatives with Life Sciences building in FY11
• Launched MIT Energy Initiative (MITEI) on the Road
• Enhanced IT tools for volunteers; implemented new social media programs
• Developed and Launched new Energy & Clean Tech Committee
• Promoted 3 proven club leaders to EVP, among others
• Increased cash reserves and proposed contribution to Scholarship fund
• Prepared for MIT’s 150th Year Anniversary
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
MITCNC 2009-10 in Review: Challenges
• Cash inflows and membership fell short of expectations
• More corporate sponsors
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Highlights
Attracted and Promoted Leadership
• Promoted 3 officers to new EVP roles: Gupta, Ng, Reenstra
• Doug Spreng chairing Energy & Clean Tech Committee; Roshni Cooper appointed Director of Volunteer Programs
• Alson Kemp leads StartUp Track; Cheng-Wei Cheng leads Career Development
Improved Attendance and Cash Reserves
• Increased registered attendance to over 1,041 event-attendees total
• Approximately 20% increase in number of events
• Spotlight attracted attendees and helped build reserves
• Over 330 attendees
• Added over $10K to MITCNC cash reserves
2010-11 Strategy and Plans in Place (including MIT 150-year anniversary)
Note: FY: August 1 – July 31.
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
New Leaders – Summary
• Rohit Gupta – EVP Entrepreneurship and major events
• Bill Reenstra - EVP K-12, East Bay and other social events
• Elizabeth Ng – EVP Membership and Life Sciences
• Doug Spreng – MITEI Ambassador; Energy & Clean Tech Committee leader
• Roshni Cooper – Director of Volunteers
• Alson Kemp – Entrepreneurship: Start Up Engines Track
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Lives Touched this Year!
10,483 Alumni in Northern California, of which…
• Over 9K receive weekly e-newsletter
• 2,341+ people attended over 100 events
• 966 joined Club as Members
• $20,000 proposed scholarship contribution to deserving undergraduates
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Lives Touched:Professional Development
• Charles recruited new company employees through MITCNC and Clean Tech
• Cheng-Wei realized career development in a new job via contacts in MITCNC
• Javed and Roshni undertook major leadership roles within MITCNC
• Many others…
MITCNC BOD Meeting, July 27th 2010
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Event Summary: 43 MITCNC Registered Events with 2,376 Attendees*Plus 100+ Social and Partner events
Major Events from the last 6 months:
• South Bay/Peninsula Toast to IAP 2010 – 102
• Bay Area Professional Networking and Wine Tasting – 58
• VC Outlook: 2010 – 45
• Transparency in an era of Health Reform – 24
• Data Mining and Cloud Computing – 42
• VIP tour at the Northern California Regional FIRST Robotics Competition – 67
• Accounting for Sustainability – 39
• Careers in Cleantech/Greentech – 52
• EmGrid Energy Storage - The Next Big Thing? – 62
• Khan Academy Talk – 67
• Legal Issues in Entrepreneurship – 47
• Health Care IT: Career and Business Opportunities – 56
• Tour of Marin Civic Center – 22
• MIT-Caltech Mixer – 58 *Not including walk-ins and free events
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
The following in-kind and event sponsors help the club tremendously by hosting events and providing catering and logistic support:
Libby Seifel | Seifel Consulting Inc SVB
Thank you to our Sponsors
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Thanks to our Entire Officer Team!Leadership & Infrastructure
Immediate Past President – Nelson Lin
President – Catherine Calarco
EVP – Rohit Gupta, Bill Reenstra, Elizabeth Ng*
Treasurer – Mike Sarfatti
Secretary – Elizabeth Reierstad
VP IT & Communications – Javed Samuel with Monika Gorkani
VP Membership & Volunteer Int. – Andrey Titov
Director Volunteer Integration – Roshni Cooper*
Partnership Organization Liaison – Mindy Hsu
Science & Technology
Director Life Sciences Forum – Elizabeth Ng
Director Science Lecture Series – Charles Zhou
Emerging Technologies Council Chair – David Lackner
Entrepreneurship Program
VP Entrepreneurship – Rohit Gupta
Director Angel Investments – Shuja Keen
Director Boomertech – Mike Sarfatti
Director Convergence, Community and Commerce – Vandana Upadhyay
Director of Start Up Engine – Alsom Kemp
Director Venture Mentoring – Jennifer Wang
Community Programs
EVP 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 – Bill Reenstra/Joel West
Affiliate Organizations
President Sloan Club Bob Meese
AMITA Liaison – Radha Nayak
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Goals and Strategies for ‘10/11
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
MIT’s 150-year Anniversaryin Northern CaliforniaSunday, April 10, 2011 birthday
• MITCNC proposing a series of events to highlight “MIT Through the Ages”
• Events would be themed historically
• e.g., Radlab, 80’s biotech, NASA
• Involve professors, historians, alumni
• Potentially also Spotlight 2011
• Create section on MITCNC website for 150-year celebrations
• Include t-shirt as part of celebration for members-only
• MITCNC organizing committee assembling to work with MITAA
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Treasurer’s Report
Mike Sarfatti ‘76
Financial Summary
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Financial Overview: FY’05-’10
Note: Income includes $5K AR from Barracuda
In FY10 vs. FY09: • Income fell by 33%• Expenses reduced by 49%• Cash Reserves increased by 12%
In FY10 vs. FY09: • Income fell by 33%• Expenses reduced by 49%• Cash Reserves increased by 12%
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Cash Reserves: ’06 to‘10
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Financial Summary
FY10 FY09
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Membership Update
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Membership Update: Composition
2003/04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10
Registration 1056 966 898 942 917 1047 966%Y/Y Growth -8.50% -7.00% 4.90% -2.70% 14.20% -7.70%
% Penetration 12.10% 10.80% 9.70% 10.00% 9.60% 9.60% 9.20%
Area Alums 8724 8963 9236 9375 9575 10911 10483
% Y/Y Growth 2.70% 3.00% 1.50% 2.10% 13.90% -3.90%
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Online Registration Continues to Grow
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Career Development
Michael Bowles
Cheng-Wei Pei
InsertPicture
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Career Development: Update
• Accomplishments and Metrics
• Hosted a career dev event virtually every month for the last year
• All events are filled to capacity and net positive revenue (slightly)
• Challenges
• Dream up new topics and formats
• Integrate new volunteers into the process
• Opportunities
• Our eager volunteers have limitless energy and enthusiasm
• We can provide substantial career help to MIT (and Ivy+) alums
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Career Development – Plans for the next 6 months
• Forum on career choices
• Sole-contributor vs. tech-management vs. general-management
• Large company vs. small
• Social/Networking with Ivy+ at Shoreline Park in the evening scheduled for the summer
• Forum on the value of professional schools (law, mba) and personality-types for them.
• Set event schedule four months in advance
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Volunteering
Roshni Cooper
Insert Picture
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Volunteering: Update
• Accomplishments and Metrics
• 100+ Volunteer-run events last year
• Hundreds of Volunteers participating in club activities
• Challenges
• Aligning available volunteers with great event ideas
• Convincing volunteers of ease of event planning
• Opportunities
• 10,000 Bay Area Alumni, 1,000 MITCNC Members
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Volunteering – Next Steps
• Recruit more volunteers!
• Aim for 20% more volunteers than last year
• Annual Meeting – September 2010
• Presentation & poster session of volunteer opportunities
• Create and maintain list of regular volunteers
• Create greater incentives for volunteering
• Leadership opportunities
Board Members can Volunteer, too!
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Social Communities
Daphne Lin
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Social Communities: Update
• Accomplishments and Metrics
• Averaged 3 social community events per month in 2010
• Reached diverse audiences (in age and interests) … from followers of the “Toast to IAP” tradition to Cuban food aficionados
• Challenges
• One-off events are easy to organize, but leave participants wanting more
• Clarity on budget allowance guidelines for different events (e.g. budget for free admission events vs. ones where attendees are charged $X/person and there’s expected attendance of Y)
• Opportunities
• Brainstorm multi-part events for long-term appeal, and to accommodate those who cannot attend one-offs. Successful event series in the past include dine-arounds, film evenings, dim-sum runs.
• Do demand forecasting by looking at attendance trends
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Goals and plans for 2010/11
• Know purpose of each social event - to increase or sustain membership. For the former, determine the conversion rate from events
• Perform SWOT analysis, esp. analyze threat of substitution where alumni have many other events/communities/activities to spend their time and $ on
• Know focus for each social event: quality or quantity? Quality of experience outweighs geographical convenience, but for mundane events, people will pick what’s closer
• Analyze past attendance trends for insights
• Survey alumni to solicit information on ideal # events per year, event type preferences, likelihood of attending etc.
• Initiate 2 new multi-part event series
Social Communities – Next Steps
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
*
MITCNC – K12 Activities
Collaborating with Woody Flower’s “FIRST” Robotics Competition
•Established working relationship with Northern California regional FIRST leadership
• Part of national MITAA K-12 / STEM initiative (WR member of MITAA K-12 / STEM committee)
•Trip to 2010 Silicon Valley FRC Championships at SJSU•Identified local MIT alums who actively participate in FIRST
FY2011 Goals
•Work with local FIRST leaders and alums to encourage additional participation by MIT alums. •Plan events to provide specific information about how to become involved with FIRST.
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
MIT Inspirational Teacher Awards
• Awards presented by Dr. Susan Hockfield to Mr. Mario Giordano (SJUSD) and Mr. Kevin Hertzog (SFUSD) at Spotlight on April 21st.
MITCNC Leadership Awards
• Presentations made to Juniors demonstrating exceptional abilities in STEM at 12 high schools in the Bay Area.
• In 2011 additional awards will be made at Thurgood Marshall Academic High School and San Jose High School in recognition of the achievements of Kevin Hertzog and Mario Giordano.
MITCNC – K12 Activities
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Other K12 activities
• Outreach to local alums to act as Science Fair judges for both local, regional, the 2010 Intel International Science and Engineering Fair in San Jose.
• Talk on May 25th by Salman Kahn, founder of the Kahn Academy www.khanacademy.org/ and viewable at:
http://vodpod.com/watch/3744693-mitcnc-talk-khan-academy
MITCNC – K12 Activities
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
IT and Communications
Javed Samuel
Monika Gorkani
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
IT and Communications
• Accomplishments and Metrics
• Created and launched HTML Enhanced newsletter
• More than 100 joint membership & event registrations
• Challenges
• Training of officers and volunteers
• Integration with MITAA
• Opportunities
• Improve membership registration form
• Migrate mailing lists to current IT infrastructure
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
• Update MITCNC website content for various groups
• Continue training of officers and volunteers.
• Streamline Event Creation and Management.
• Continue work on the MITCNC blog and have more officers contribute to it.
IT and Communications – Next Steps
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Entrepreneurship
Rohit Gupta
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Entrepreneurship
MITCNC BD Meeting, February 2010
• Accomplishments and Metrics
• Launching new series on Startup Strategies
• Broadening Cleantech to include general Energy sessions
• Challenges
• Need more volunteers and potential track leads
• Additional venue sponsors
• Next steps
• Explore additional vertical tracks
• Consider general sponsors
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Cleantech & Energy Committee
Eileen Tanghal & Doug Spreng (as of 8/1/2010)
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Cleantech & Energy Committee
• The Cleantech & Semiconductor Committee is now becoming the Cleantech & Energy Committee
• Charter:
• Develop and execute a “best in class” multi-year series of events that are intended to inform and activate regional MIT alumni by addressing the problem of climate change and the two major problems causing it; namely, the use of fossil fuels for electrical energy production and the use of petroleum-based fuels for transportation. The committee will explore clean technology innovations in university research, including bringing MIT professors to the Bay Area (MITEI on the Road), and in emerging commercial applications by facilitating panel discussions using local executives, VCs and industry experts.
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Cleantech & Energy Committee
• Accomplishments and Metrics
• Held successful Acccounting for Sustainability event sponsored by Cooley’s in March, 2010. 50 attendees. Raised around $1000.
• Held successful Grid Storage event sponsored by Applied Ventures (Applied Materials) in May, 2010 with 100 attendees and raised closed to $2500.
• Challenges
• Finding additional sponsors to host larger audiences for events
• Event marketing to increase attendance
• Automation of event execution activities - email marketing, badge creation, payment and reimbursement
• Opportunities
• Will be integrating with newly formed Energy committee(headed by Doug Spreng) to offer members additional series of events featuring MITEI professors and staff
• Will be collaborating with MITVLAB and other clubs to offer additional topics
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Cleantech & Energy Committee
• Next Steps
• Integration of Cleantech and Energy Committee including definition of strategy or goals
• 6 events from September ’10 through June ’11, with emphasis on the topical areas of solar, storage and electric vehicles
• Will be hosting new Car of the Future event sponsored by Orrick in September 2010
• Cooley’s has agreed to host additional event in October 2010 - topic to be decided
• Hoping to hold an event featuring speaker from MITEI at the end of the year
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Startup Engine Series
Alson Kemp
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Startup Engine Series
• Proposal
• Series of events on how technology leaders can use new technologies, methodologies, etc to drive new businesses, new market segments, new revenue opportunities, new partnerships
• Topics will be on current Internet and mobile technologies with focus on actionable and detailed discussions
• Bring a vibrant new audience to MITCNC
• Challenges
• Creating a new group within MITCNC
• Gathering volunteers
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Startup Engine Series
• Next Steps
• Run 1 event every 2 months
• Plan/execute initial 2 events
• Gather volunteers to conduct future events
• Plans for next 6 months or more
• August Event: State Of Mobile Applications
• October Event: Your Application Should Be A Game (tent.)
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
VMS Accomplishments
• From VMS/Bay Area inception in 11/08 through 6/10, have served 40 MIT-entrepreneur-led ventures through mentoring teams
• Nearly 50 mentors active today (all but 5 are MIT alums)
• Primary values delivered:
– Positioning ventures for funding and gaining marketplace traction
– Enable would-be entrepreneurs to realize the start-up path was not for them (avoid wasting time)
• Facilitated our first liquidity event for a mentee:
– AppJet acquired by Google in Dec., 2009
– Several other ventures have become self-sustaining
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
VMS
Challenges
• Continue achieving balance in number of new mentees and available mentors.
• Attract mentees in under-represented business areas, most notably clean tech/renewables
Next Steps
• Hold Mentors’ Roundtable Meeting in Fall to share experiences in working with mentees and discuss “what’s working, what’s not”
• Hold next Matching Session in Sept. or early Oct.
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Break Out Sessions
1.Three Concurrent Sessions “Promoting Club Membership and Events”
“Planning 150-year MIT Anniversary Celebration in NorCal“
“Increasing Sponsorships”
2.Presentations of Recommendations from each session
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Board Business
• Admin:
– Approve Minutes
– 2 New Board Committees
• Finance (Bill Murray, chair)
• Sponsorships (Libby Siefel, chair)
– Finance-committee proposed scholarship contribution recommendation: $20K
• Nominating Committee Recommendations
– BOD
– Nominating Committee
– Exec Committee
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
2 New Board CommitteesTo Improve Board Operations
Finance Committee
• Responsibilities: overseeing finance, providing periodic audits, making recommendations to the Board each year as to the amount MITCNC can and should donate to the scholarship fund
• Chair: Bill Murray
Sponsorship Committee
• Responsibilities: supporting club officers in attracting corporate sponsors, event sponsors, and potentially web site sponsors.
• Chair: Libby Seifel
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
MITCNC Scholarship Fund:Six 2009-10 Scholars
• Jingxun Chen ‘13 (Judy and Phil Friend ‘58 Memorial Scholar)
Hometown: San Francisco, CA
• Alix de Monts de Savasse ‘13 (MITCNC Alumna Scholar)
Hometown: Los Altos, CA
• Edgar Cervantes ‘13 (Robert Swanson ‘69 Memorial Scholar)
Hometown: Oakland, CA
• Ester Lomeli ‘13 (Janet Grosser ’53 Memorial Scholar)
Hometown: Freedom, CA
• Jacqueline Sun, 2013 (Gaynor Langsdorf ’32G Memorial Scholar)
Hometown: San Francisco, CA
• Shawn Wen, 2013
Hometown: San Francisco, CA
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Scholarship Funding for 2010-11
MITCNC Endowment at MIT earned enough income over 2009-10 to fund the six 2010-11 scholarships
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
MITCNC BOD Finance Committee’sScholarship Fund Endowment Recommendation
• Objective: Keep the MITCNC Scholarship Endowment at MIT growing
• MITCNC Finance Committee (M. Sarfatti, Wm. Murray, R. Koo and E. Reifschneider) met to determine an appropriate amount to transfer to MIT
• Committee reviewed 2010 year-end financials and estimated a feasible transfer amount that still left ample funds in MITCNC
• Board Motion: MITCNC Transfer $20,000 to the MITCNC Endowment at MIT
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Thank You!
To all board members, officers and other volunteers, MITCNC thanks you for your
dedication to our community.
Together, we make a difference for ourselves, our community and our world.
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MITCNC
MITCNC BOD Meeting, July 27th, 2010
Executive Session (Closed)