How to Create an Entrepreneurship Ecosystem: MIT & Greater Boston as an Example

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YEREVAN, Armenia – On September 19, 2015, the American University of Armenia (AUA) College of Science & Engineering, in partnership with the Luys Foundation, hosted a lecture on “How to Create an Entrepreneurship Ecosystem: MIT & Greater Boston as an Example,” with guest speaker Val Livada of the Massachusetts Institute of Technology (MIT)’s Sloan School of Management.

The lecture dealt with the major changes that the innovation process has undergone in the past decade, namely transforming from vertically isolated efforts within corporations, universities, and startups, to one eco-system that is driven by collaborative efforts among the three.

Jacqueline Karaaslanian, Executive Director of the Luys Foundation, was present at the lecture, commenting, “Big ideas always start small, and they always start with people who are very dedicated, and who see connections between their field and another field and their complimentary expertise.”

During the lecture, Professor Livada discussed the increasing dependence from the private sector on research being advanced outside of companies, most often in research universities. This has created a significant opportunity for universities that conduct research, but it also requires some fundamental changes in the operation and mission of schools and universities.

Using MIT’s entrepreneurial and innovative focus and its impact on Boston as an example, the speaker highlighted how new methods and approaches to innovation, beginning at the school and university level, can positively influence and even revitalize a city or country.

Professor Livada, speaking with 40 years of experience at MIT and in the Boston area, said, “When I teach, I teach from practice, not from textbooks. I’m not here to tell you the formula for how things should happen. I observed. I was part of the activity.”

AUA is doing its part to bring a fresh wave of innovation, creativity, and entrepreneurship to the country by establishing the new Innovation & Technology Incubation Center, which is scheduled to open in 2018 thanks to the generous support of the American Schools and Hospitals Abroad (ASHA) program of the U.S. Agency for International Development (USAID). Armen Mkrtchyan, the newly appointed Director of the center, was present at the lecture, stating, “AUA is always striving to expand its offerings to address society’s needs, especially in the educational sector. One example is the creation of the Innovation & Technology Incubation Center. The vision of the center is to foster entrepreneurship and innovation at AUA and in Armenia in general, and to try and nurture leaders that will pursue high impact, multidisciplinary ventures in Armenia. Advising and mentoring services will be provided to young entrepreneurs who will be coming to AUA. We’ll also be expanding course offerings in entrepreneurship and innovation and increasing the number of guest speakers at the university.”

Val Livada has over 40 years of consulting experience. He founded Weybridge
Partners in 1996 as a network of formal and informal associations of practitioners and organizations focused on the successful commercialization of technology. The network includes business and technology consultants, venture capitalists, academics, entrepreneurs, lawyers in the US and abroad.

Founded in 1991, the American University of Armenia (AUA) is a private, independent university located in Yerevan, Armenia and affiliated with the University of California. AUA provides a global education in Armenia and the region, offering high-quality, graduate and undergraduate studies, encouraging civic engagement, and promoting public service and democratic values.