A certificate program designed to help entrepreneurs develop and execute their ideas, the Ignite program at Stanford Graduate School of Business aims to provide students and business owners worldwide with the business fundamentals essential for launching their entrepreneurial ventures.
The Ignite program is geared toward entrepreneurs with innovative ideas who may not have the necessary means to successfully develop an innovative concept into a thriving business. The participants in the Ignite program are a varied mix of individuals from a wide range of professional backgrounds—from students who are just starting graduate school to scientists and engineers in top positions at large companies. Any leading innovators who have not received business degrees at the graduate level are encouraged to apply for a spot within Stanford Ignite.
Upon acceptance, entrepreneurs will participate in a seven-week course led by notable faculty members from Stanford Graduate School of Business. Instruction covers basic subjects related to core business skills, such as marketing, accounting, and strategy, as well as more specific skills such as product design. Students in the Ignite program will also learn functional skills related to areas such as negotiation, leadership, and teamwork. Apart from the standard courses, Ignite students will hear guest speakers and attend panels comprised of executives from major corporations and investment firms, some of whom also serve as mentors.
As a part of the curriculum, participants will work together in groups of five to six to conduct a venture project. Projects can be designed as new, independent ventures or to innovate a product or service that an existing company already provides. Ideas for ventures can be submitted prior to the beginning of the course through an online portal, where program participants can then vote on the concepts that most appeal to them. Those who submit the most popular ideas can then give video presentations on the first day of Stanford Ignite, and each participant can rank the presentations based on the degree of interest. Stanford Ignite’s faculty director then places participants into teams. The projects established through Stanford Ignite will end either with the seven-week program or will be carried forward by the original idea generator.
Altogether, Stanford Ignite requires a time commitment of around 100 hours of instruction, and an additional 100 to 150 hours outside of class for preparation and participation in venture projects. Although not all venture projects will continue on to the funding phase, all participants who complete the program will earn a certificate from the Stanford Graduate School of Business. Some participants may choose to move forward with their venture projects and establish businesses outside of the program. Current ventures founded by entrepreneurs who participated in Stanford Ignite include ALICE Technologies, Bell Biosystems, Driptech, and HeyCrowd.
Stanford Ignite celebrated its 10th anniversary in 2016. In one decade, it helped to facilitate the creation of over 100 thriving businesses led by around 1,600 program participants from all over the world. What began as a single, on-campus course has blossomed into an international program with locations in India, China, Chile, Brazil, the United Kingdom, France, and New York City.
Mikhail Golomb 