In less than a decade, entrepreneurial companies in emerging economies have acquired a number of Western corporate giants including IBM, Land Rover, Jaguar, and Volvo. These acquisitions point to the vibrant growth of entrepreneurship in developing countries as well as the shifting hierarchy of global economic players.
MIT Sloan’s Global Entrepreneurship Lab, commonly known as G-Lab, places students at the forefront of these developments by sending them to emerging economies to study, research, and work with entrepreneurial companies. In 2008, G-Lab expanded to include China Lab and India Lab and has since provided more than 200 students with action learning experiences in China and India, two of the fastest growing economies in the world.
This Exchange 62 colloquium, facilitated by Professor Yasheng Huang, brought together entrepreneurs and students who participated in G-Lab for a lively discussion about the significant role that entrepreneurship is playing in emerging economies and the singular opportunities that MIT Sloan students have to take part in the action.
Speaking to the value of working with MIT Sloan students, Valtech’s Bhattacharyya stated, “You can get real work done with good team members… . We can’t solve this problem, but our MIT team can.”
Echoing Bhattacharyya’s sentiments, AE&E’s Xiong stated that “We would pay more for teams; to have internships would be great.”
While the impact of student teams is undeniable, Professor Huang stressed that while much has been accomplished, there is much to be done. He pointed out the need for expansion into Africa and in underdeveloped regions in China and India.