In today’s rapidly changing world, new innovations and technology are at the forefront of economic growth. Having recognized this early on, the Rotman School of Management at the University of Toronto has become a leader in developing the next generation of entrepreneurs with the Innovation and Entrepreneurship Major as well as the Creative Destruction Lab. Since its launch in 2012, startup ventures from the Creative Destruction Lab (CDL) program have generated over $1 Billion in equity value. We spoke with Yen On, Morning MBA 2016 who currently is the Course Manager at the Creative Destruction Lab. She shares more about what the CDL program is and how MBA students can get involved with the Lab.
The Creative Destruction Lab is made up of three parties who work tightly together over the course of 9 months. First there are the G7/ML7 Fellows who are phenomenal and successful entrepreneurs that advise companies who go through the CDL program. Examples of advisors are Ted Livingston, founder of Kik and Tony Lacavera, founder of Wind Mobile. Second are early stage technology companies looking to scale their idea into a high growth company. Finally, there are a group of talented MBA students who join through the CDL course where they work with one of these startups during the year.
The MBA Impact
When Yen was a student at Rotman, she was accepted into the CDL course in her third year. She initially wanted to pursue her MBA because she wanted to move up in her company. “I discovered early on that there were so many opportunities outside of my industry. I wanted to expand out of the corporate space and make the jump from media to technology,” she explained. The CDL course further propelled Yen to keep an open mind. “Once I was in the CDL course, I realized that my mindset was so similar to the other people in the Lab. Their roll-up-your-sleeves attitude really resonated with me. The work culture was appealing and there is a huge amount of potential in this industry.”
MBA students undertake a variety of tasks including building financial models and developing strategies to ultimately create value for the startups they are working with. With tight 8 week deadlines between objectives, these committed students are instrumental in helping startups achieve those objectives. “Having been through the program, I know how impactful MBA students can be in the Creative Destruction Lab.”
Explore Innovative Opportunities
At Rotman, students learn top management practices from a world renowned faculty but also gain an opportunity to apply their knowledge to real world business problems. The Creative Destruction Lab is a risk free way to experience working in a startup. “People who want to create their own company but don’t know how to can have a trial run and get an inside look at the effort it takes to propel a startup.” It also provides a way for students to explore areas outside of their comfort zone and gain exposure to leaders who have revolutionized their respective industries. “Rotman is truly amazing. I love the fact that we can always be inspired by other people at the school.”
For more information about the Part Time MBA program, visit our website.