Welcome to Harvard Innovation Labs (HIL), a hub for innovation and entrepreneurship. Whether you're a seasoned founder or just curious about entrepreneurship, HIL offers Harvard students the opportunity to develop their ideas, connect with a multidisciplinary community, and access valuable resources. Here are key insights and strategies from our recent founder session that are essential for startup founders.
1. Start Early, Explore Freely
It’s never too early to dive into entrepreneurship at Harvard. The Innovation Labs provide three stages of membership:
- Explore: Ideal for those just beginning to ideate or explore ventures. You don’t need experience—just curiosity.
- Test: If you have a project and want to validate it, this phase helps refine your customer base, conduct market research, and build an MVP.
- Propel: If your venture is gaining traction, you’ll receive support in business modeling, fundraising, and advisory board development.
The key takeaway: Take advantage of these resources as soon as possible. Don’t wait until later in your academic journey—explore the possibilities early.
2. Leverage a Multidisciplinary Network
Harvard’s innovation community is rich with diverse expertise across various disciplines. Whether you need a coder from the engineering school or a business expert from HBS, collaboration is at the core of the HIL experience. Successful teams often comprise members from multiple Harvard schools.
Actionable Insight: Actively seek partnerships across disciplines. These cross-functional collaborations are invaluable for venture growth and sustainability.
3. Make the Most of Expert Resources
HIL’s Expert-in-Residence (EIR) Program connects founders with industry leaders. These experts, from fields like marketing, venture capital, and law, are committed to providing mentorship and guidance. Meredith Kent, a current founder, attributes much of her venture’s success to these relationships.
Pro Tip: Take full advantage of expert office hours. Build relationships with these professionals—they can open doors and offer guidance that can shape the trajectory of your startup.
4. Join Events and Get Involved
HIL regularly hosts workshops, mixers, and the prestigious President's Innovation Challenge (PIC). These events offer founders a chance to pitch their ideas, receive feedback, and connect with potential team members. The Founder-Joiner Mixers are especially valuable for recruiting co-founders or joining teams in need of specific expertise.
Strategy: Attend networking events, even if you’re still in the idea stage. The insights and connections you make will fuel your venture’s progress.
5. Utilize Non-Dilutive Funding
HIL provides funding opportunities that are non-dilutive—meaning HIL takes no equity in your venture. Grants like Spark Grants help with early-stage validation, and the President's Innovation Challenge offers funding to the most promising startups.
Actionable Advice: Apply for grants early to support your venture without giving away equity, and consider participating in the President's Innovation Challenge.
6. Embrace Flexibility and Balance
Building a venture while attending classes can be demanding. Meredith, a varsity athlete and founder, emphasizes that you don’t need to commit 20 hours a week. Some weeks may be lighter than others. The HIL model is designed to be flexible, allowing founders to engage with resources at their own pace.
Tip for Founders: Time management is key. Prioritize your venture alongside other commitments, and remember that progress doesn’t need to be linear.
Final Thoughts
Whether you’re eager to dive into innovation or are still figuring out your path, the Harvard Innovation Labs provide a supportive environment that meets you where you are. From idea inception to scaling your startup, HIL offers the tools, network, and guidance to help your venture succeed. Don’t hesitate—jump in and see where your entrepreneurial journey can take you!
Ready to start your venture? Become a member of the Harvard Innovation Labs today and join a community that’s as passionate about innovation as you are.
