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Exploring the Startup Ecosystem in the United States through EFL

Nilesh Ramnani, CFA is a current Tech MBA student, specializing in Strategy, Product Management, and Entrepreneurship. Prior to Stern, Nilesh had his own consulting firm and has also worked in Investment Banking and Private Equity. At Stern, he is a board member of Private Equity and Venture Capital Club; Business Analytics Club; Graduate Marketing Club and Adventure Club and enjoys traveling and exploring different cultures and cuisines.

I was standing in the queue for the most adventurous Velocicoaster ride at Universal Park Orlando during my spring break. I asked my wife – Are you scared? She said, “yes I am, but it will be so much fun! The excitement and a bit of fear makes this adventurous.” Once we were on the Velocicoaster, we were thrown upside down four times and all the moves were unexpected. The start-up world is no different. You just need to find your own balance of facing fear, uncertainty and enjoying the ride. You are pulled in different directions and you need to find your own path. 

Before joining Stern, I had experience working with many startups in India through my own consulting practice. But I wanted to get a deeper dive into the start-up ecosystem in the United States. That’s when I found the Endless Frontier Labs (EFL), taught by Professor Deepak Hegde. The course is a mix of lectures, working with a start-up and also meeting industry experts who mentor the companies in EFL. 

I was paired with OPTT health, a company that is trying to solve some of the biggest challenges in the mental health care space in the US and Canada. We read a lot about telehealth companies trying to make mental health accessible to everyone, but the facts are shocking. 55% of adults (28 million people) in the US with a mental illness do not receive treatment. This is partly because mental health treatment is highly subjective and labor-intensive, and treatment outcomes depend mainly on the skill of the clinician. We need efficiencies in the system to enable doctors to treat more patients and OPTT is trying to do this using a proprietary algorithm to capture and analyze patient data. It plans to transform the treatment of mental health using machine learning and Artificial Intelligence. 

I worked with founders Mohsen Omrani and Ali Omrani on the go to market strategy in the United States market. In our meetings with mentors, we identified a crucial goal: to develop a quantitative model that OPTT Health can use to effectively communicate its value proposition. I mapped out the patient journey and identified areas where OPTT can create value that could be quantified. Based on these findings, I developed a financial model to calculate the return on investment (ROI) for potential customers. OPTT plans to use this model to determine a suitable pricing strategy for the company, ensuring that the value they offer is commensurate with the price. My work will be used to communicate the value to all the stakeholders including customers, investors and partners.

Through EFL, I also learned a lot about other startups. We had multiple group sessions where we discussed the issues faced by EFL startups and brainstormed ideas to solve these problems. EFL provides a platform for students, mentors, and the EFL team, to discuss the problems startups are facing.

I think the EFL course gave me exactly what I was looking for. I got a flavor of the startup ecosystem in the United States and also learned frameworks to solve problems faced by startups.

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Career Resources & Recruiting

Zoish Pithawala is a current Tech MBA student, specializing in Tech Product Management. Prior to Stern, Zoish worked as a Solutions Architect focused on startups interested in using cloud technologies. Post-MBA, she plans to move into a technical product management role specifically focused on data analytics. 

 

 

When I quit my job to go back to school, I was left a little nervous wondering what recruiting for a new role would be like. With the Tech MBA kicking off in May, it felt like there was barely any time before I had to start recruiting. Luckily, Stern has a ton of resources that helped me with my career development and recruiting process that made the whole process a lot easier.

Office of Career Development

The Office of Career Development is one of the first resources you’ll hear about when you start the program. They provide tools, events, and 1:1 meetings for any stage of the recruiting process. Here are some of the resources I found especially advantageous to me. 

  • Resume Reviews:  Before the program even began, we had access to a resume editing tool to help us start on our journey, followed up with some individualized feedback. This was a great starting point for me, because it got me into the mindset of what gaps I had in my resume that I wanted to fill throughout the year. Through the rest of the year, I scheduled appointments with the Careers Team team to continue editing my resume as I added more experiences. 
  • Recruiting Events/ Presentations: The Careers Team hosts several company recruiting presentations throughout the year. I signed up for the companies I was interested in applying to and it was a great way to hear more about the roles and find out about the recruiting process. My favorite event was the Tech Alumni Mock Interview where I got practice on how to interview for a technical product management position and got to network with  alumni. 
  • IGNITE: Over the summer, there are a few mandatory IGNITE sessions that help with general career development like working on your pitch, resume writing, and how to create a target list of companies. This really helped me get the ball rolling over the summer and I continue to utilize the provided workbook today.
  • 1:1 Appointments: This was the most valuable resource for me! I frequently scheduled 1:1 appointments with the Careers team to discuss more on my strategy and any questions I had about recruiting. The Careers Team even offers mock interviews that can help you practice interview questions.  I found everyone on the Careers team extremely helpful and I plan to have a few more mock interviews and offer negotiation strategy sessions before the end of the year!

Club Resources 

Outside of the social events, clubs can also help with your career development. As part of the Stern Technology Association (STA), I found their resources extremely helpful. They have consolidated resources including a handbook that has great notes on the types of interview questions, what to expect when interviewing, and tips for different tech companies.

Professional Opportunities

The Tech MBA has built-in professional opportunities as part of the curriculum. Over the summer, the Tech Immersion course gave us hands-on experience working with KPMG and in the fall, I got the opportunity to work with PayPal in Tech Solutions. These professional opportunities gave me a lot to showcase on my resume and helped me tailor my resume towards my career goal in product management. These professional opportunities also give me the chance to network and work with professionals in companies that I have always wanted to work for, like PayPal. 

Networking 

Networking is a big part of your life as an MBA student and for your recruiting process.  All of the resources I shared above involve networking with peers, alumni, and professionals. There are a variety of other ways that Stern helps you network. 

  • Networking events: There are a variety of networking events hosted through OCD, clubs, etc. throughout the year. These events range from alumni events to multi-school events that give you a great opportunity to meet new people.
  • Guest speakers: A majority of my classes at Stern have featured incredible guest speakers. These speakers range from experts in Blockchain, product managers at large tech companies, CEOs, founders, and more. Not only is it incredibly valuable to hear their insights and learn about their backgrounds, but you get the opportunity to connect with them and network. I have loved getting to connect with a lot of these speakers after the session!

As I continue to network and apply for jobs, I utilize these career resources frequently. These are just some of the career resources that I have utilized throughout this year as I recruit for a full-time job, and I know they will be immensely helpful for you if you end up at Stern!

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West Coast Immersion 2023

Divya Mehta is a current Tech MBA student at Stern. Within Stern, she is part of the Graduate Marketing Association and Business Analytics Club boards. Before starting her MBA, Divya has held various supply chain roles at Johnson & Johnson, Colgate-Palmolive, and Intel Corporation. She studied Industrial Engineering at Penn State University with minors in Product and Entrepreneurship. Post-MBA she is interested in pivoting from a cost-savings role to a revenue-generation role at a B2B company. 

 

Welcome to the Journey! 

One of the standout features of NYU’s Tech MBA is its embedded West Coast Immersion Course during our winter break.  The West Coast immersion is an integral part of our curriculum, as it gives us exposure to a wide range of companies and opportunities beyond the NYC ecosystem. My name is Divya, and I’m here to bring you along on my personal recap of the West Coast Immersion trip! 

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Students had the option to visit either Seattle, WA or Los Angeles, CA before meeting up in San Francisco.

As part of the West Coast Immersion Coast, we were able to lottery for our choice of either Los Angeles or Seattle; I chose Seattle  so that I could  tack on a week in Portland, OR prior! At the end of the trip, 16 of us traveled to Steamboat, CO to join Stern Adventure club on their annual ski trip. This led to a total of 4 weeks of travel for me! 

My luggage for 4 weeks of travel was #Worththeweight

As the official start date of the trip neared, I couldn’t help but feel the adrenaline rush as my classmates began to share their travel to Seattle from all parts of the world. 

 

Shortly after our group touched down in Seattle, we met up at Flatstick Brewing for some beer and bites. There were so many fun memories but in the interest of keeping this short, I’m sharing my top 5 highlights, in chronological order, from each leg of the immersion trip!

Seattle Highlights: 

  1. Microsoft
  2. Amazon 
  3. Class-bonding
  4. T-Mobile 
  5. Starbucks

1. At Microsoft we had the pleasure of hearing from Jeff Teper, President of Microsoft Collaborative Apps, and a thought leader in the product space. I loved hearing his insights and experiences around disruption, culture, and customer empathy at a large enterprise company. I was also particularly fascinated by the Industrial Metaverse portion covered by Lili Cheng, given my background in Supply Chain.

Group shot from our first company visit!

2. At Amazon we learned the importance of Customer Obsession, Collaboration, and what makes an MLP or “Most Lovable Product!” We were treated to a delicious breakfast and lunch with an exclusive tour of the Amazon Spheres in between. 

An Amazonian welcome and tour of the Spheres


3. The small but meaningful class-bonding moments with Professor Vasant Dhar – I loved being in a remote classroom together, having a whole charter bus to ourselves, and taking in the beautiful Mt. Rainier views! 

  

4. T-Mobile was perhaps my biggest surprise. We had a blast learning about their 5G portfolio through interactive demonstrations. Salim Koudri, Senior Vice President of Technology,  gave  an incredible talk on the wireless value chain, the future of 5G, and some fascinating business solutions. We learned about concepts such as “latency” through VR, and then ended our day at the employee lounge for a cocktail reception with pool, shuffleboard, and networking with senior team members. 

Classmates learning the challenges of “latency” through VR games

5. Similar to T-Mobile, another company visit that surprised me was Starbucks. As someone who comes from a background in supply chain, I had always known of Starbucks as a “supply chain” company. As an Industrial Engineer, I really “nerded out” on the fact that they have an entire center dedicated to optimizing the barista experience. It turns out product design plays a huge role in speed and ergonomics. 

After a hectic schedule in Seattle, we packed up our suitcases and made our way to San Francisco to meet up with the other half of our cohort! 

Excited to meet up with the rest of our classmates in the Bay Area

San Francisco Highlights: 

  1. Weekend 1
  2. Palantir
  3. Nvidia
  4. Calm CEO
  5. Google

1. Weekend 1 in the Bay consisted of reuniting with the second half of our cohort (after 4+ weeks of winter break), exploring the city, meeting some admitted students for brunch, and of course, a cohort trip to Napa Valley! This was our first chance to breathe after a hectic first week in Seattle. 

  

2. At Palantir, we got the true Silicon Valley start-up experience as we challenged each other to ping pong and foosball games while our speakers set up.

Classmates enjoying a good post-lunch stretch at Palantir

3. One common theme that has been stressed throughout our program is the importance of coffee chats. Because of the networking and coffee chats I’d arranged, two of my classmates and I were fortunate enough to be invited to a personal tour of Google’s new campus where we rode bikes, grabbed a delicious Mediterranean meal,  made our own ice cream sundaes, and chatted about the variety of opportunities at Google and beyond. 

Posing in front of the new Bay View building in Mountain View

4. Nvidia was incredible. Unfortunately we weren’t allowed to take pictures inside but their building looked like it was straight out of a futuristic movie. Their demonstration of generative AI showed the power of simulations in driver safety, and digital twins in manufacturing plants. 

5. An amazing way to end our week was to have an intimate conversation with the CEO of Calm, David Ko. One of my favorite quotes from the NYU Alum was “It’s not how you lead going up, it’s how you lead when things are going down.” This was especially important to hear while the Tech industry was facing economic headwinds because it taught us the importance of resilience. 

Our classroom views were absolutely gorgeous on our last day

In conclusion, the West Coast Immersion trip was an incredible opportunity for the NYU Tech MBA cohort to broaden our horizons beyond the NYC ecosystem and gain insights from a diverse range of companies and industry leaders. From Microsoft to Amazon, T-Mobile, and Starbucks in Seattle, to Palantir, Nvidia, Calm, and Google in the bay area (and this isn’t even all of the companies we visited!), we had the chance to learn about disruptive technologies, customer obsession, product design, 5G, and AI. The trip also provided us with invaluable opportunities for class-bonding and networking with senior faculty. Overall, the West Coast Immersion was an unforgettable experience that allowed us to deepen our understanding of the tech industry and prepare us for the challenges and opportunities ahead.

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Company Visits & Beyond

Christy Kim is a MBA candidate at NYU Stern’s Andre Koo Tech MBA program, specializing in Business Analytics and Product Management. Prior to Stern, she worked at Deloitte Consulting, driving large-scale data and analytics transformations for clients across various industries. She additionally brings a background in product marketing, alliances, and tech sales and graduated from Duke University.

As a prospective candidate, you have two options:

  1. MBA experience with a summer internship (traditional 2-year program)
  2. MBA experience with multiple in-semester projects for top companies (welcome to our world!)

If I were presented today with the same options above, I would still choose option B in a heartbeat. Here are the 5 reasons why I believe our experiential learning curriculum provides above and beyond what can be gained through a summer internship alone:

1. GUARANTEED ‘INTERNSHIPS’ WITH TOP COMPANIES – and no recruiting or interviews required! Our 2-year MBA counterparts spend their first year recruiting for their summer internships; however, we fortunately had the following in-semester project opportunities land in our laps as part of our experiential learning courses:

A Dream Team: Pfizer Group A!
  • ‘Tech Immersion’ (Summer): Pfizer, KPMG
  • ‘Tech Solutions’ (Fall): 13 companies across various industries and of all sizes – including Waze, IKEA, PayPal, and Roku
  • [Optional] ‘Endless Frontier Labs’ (Fall & Spring): In place of ‘Tech Solutions’, you have the opportunity to take this course for hands-on work with Life Sciences, Digital Tech and Deep Tech startups

Through the above, some students have even found full-time employment opportunities with their respective companies!

2. BOOST YOUR LINKEDIN/RESUME. Through our experiential learning projects we act as consultants to the companies listed above. This is outstanding real world work experience which helps build our skills and our resume. We can also share our success during the recruiting process.

3. LEARN, APPLY, MAXIMIZE. The beauty of our experiential learning curriculum is that the course lessons are directly aligned to our project expectations and deliverables. For example, we had the following interactive sessions over the summer to help with our client deliverable preparations: 

In addition, we also had the opportunity to apply our learnings from our core courses (e.g. Entrepreneurship, Strategy) to our projects as well. This chronological, methodological yet practical approach to learning is one that I have yet to experience in my undergraduate years or professional life.

4. FAIL SAFE, LEARN FAST – a key, unique benefit of the experiential learning experience. With formal summer internships, there may be less opportunity for interns to ‘fail safe’ as their individual return offers are on the line. Through the Tech MBA program, our experiential learning curriculum allows us to:

  • Consult for top companies with a focus on innovation, experimentation, and learning (shoutout to our professor, J.P. Eggers, for always ensuring that our client project direction stayed on course for learning maximization!)
  • Receive continuous direction and feedback from our clients and project leadership (e.g. we had review/feedback sessions every 3-4 weeks)
  • Collaborate and lead in a small group setting with our classmates (e.g. my group maintained rotating leaders on a weekly basis)

    On-site visit and guest speaker session at Google!
Myself and Divya Mehta’s mock pitch for Goldman Sachs Accelerate!

5. TIME TO EXPLORE (& CONFIRM). The summer ‘Tech Immersion’ course served to be a great kickoff to the exploration of my post-MBA career path. I had planned to use this time in the MBA to confirm my continued career in tech consulting or explore other paths (specifically product management) that may be a good fit with my long-term career goals. The course not only  helped re-confirm my continued passion for client services (i.e. Pfizer project), but also provided a great introduction/sneak peek into the world of product management. I plan to build on these experiences and continue the exploration through the rest of the program; I am excited to see what the future holds for not only myself, but also for our entire cohort!

 

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Entrepreneurial Opportunities at NYU

This summer, our schedules were packed with classes, meeting new people, industry treks, and evening events like happy hours, panel discussions, and receptions. As a Tech MBA student, a few of my main interests include entrepreneurship, startups, and early stage ventures. At NYU, there’s likely an event on campus that covers any one of these topics every week, but one of my favorites that kicked off summer was called B-School Disrupt.

B-School Disrupt showcases 10 entrepreneurs from NYU, Stanford GSB, and Harvard Business School, and each founder presents 2-3 minute pitches of their startup to the audience, as well as a panel of industry judges who ask questions and provide their perspectives. The event was followed by a networking reception that allowed attendees to connect with the companies.

I attended B-School Disrupt with 14 of my classmates, many of us with entrepreneurial aspirations of our own. In addition to the topics we discuss in the classroom and consulting with companies through Stern Solutions, it’s nice to hear about the businesses that students create and bring to life. A broad range of industries were represented and the startups were as different as they were interesting. People have some crazy ideas! For example, one startup created sustainable cleaning products that come in the form of a dissolvable tablet and reusable spray bottle, while another created a mobile app concierge service that returns your car for you at the airport. There was also a fashion retail brand that sourced its designs from artisans and designers in Africa.

Not only were the startups themselves diverse, but each entrepreneur had a different story. There were students who had just started their business, and others who had been working for years. Others worked full-time on their venture, while some juggled a different, full-time job and pursued their company part-time. I think I had a narrow definition of what it means to be an entrepreneur, but B-School Disrupt, along with the many other startup-related events and activities on campus, has helped expand that definition for me.

These definition-expanding experiences are built into the curriculum: it’s not uncommon for professors to invite founders and industry leaders to class who always share an inside look at their companies and offer students a chance for Q&A. I’ve also found that some of these definition-expanding experiences happen more organically through conversations with classmates who come from many different backgrounds, industries, or geographies. Outside the classroom, there’s a plethora of resources on campus to take advantage of: the $300K Entrepreneurs Challenge, one-on-one coaching at the W. R. Berkley Innovation Labs or the Leslie eLab, and more. NYU has resources for entrepreneurial students and alumni regardless of what stage their company is at. As someone who has benefited from these resources in just a few months, I’d encourage any prospective student who is interested in entrepreneurship to look into these opportunities. I think you’ll be surprised at how much support exists for students and their startup ideas, even if you have no background in entrepreneurship at all. It’s definitely one of my favorite things about NYU and the Tech MBA program, and certainly something I’m planning to continue exploring!