How is LaunchX’s summer entrepreneurship program different from other entrepreneurship programs?
LaunchX is not a lesson in business plan writing or visiting several startup companies. It’s more than just an accelerator or an incubator. We don’t just tell you HOW to start a company; we show you the steps to identify a gap in the market and create a real-life business during the short duration of this summer program. We push you out of your comfort zone and set you up for startup success with a network of peers and mentors even after you leave the program. We have high expectations of our students who rise to the challenge to create something real and amazing.
Where is LaunchX being held this year?
LaunchX is going virtual in 2020! You can learn more here.
What are the dates of LaunchX Virtual? Why is it six weeks instead of four weeks?
The virtual program will be held from June 29 - August 7.
Unfortunately, you may not miss any days of the program. It is vital that students attend the program full time in order to make progress on their companies.
We have heard from past years’ students that they would love for the program to be longer, and with the virtual program we are able to increase the length to 6 weeks for all admitted students since we do not have the prohibitive cost of room and board! We hope to see you take advantage of this additional time to push through challenges with your team and refine your company and product even further.
What is the format of the learning experience?
Each day, you’ll participate in workshops, lectures, simulations and panel discussions aimed at giving you the knowledge, skills, and mindset to take your company to the next level. When you’re not in class, you’ll work with your team of 4-5 peer co-founders to put these new skills into action and bring your company to life.
How You’ll Learn:
What is the expected commitment during the six weeks?
The expected time commitment is full-time meaning 40 hours per week.
This will not be fully 40 hours per week in front of the computer. A portion of the time will be online sessions but you will also be expected to be doingn market research, prototyping, etc. that will not require you to be in front of the computer.
Unfortunately, you would not be able to have another commitment such as school during the timeframe of this commitment.
How will I be able to create a prototype when all of my teammates are in different locations?
Prototyping has its pros and cons when working remotely. Roles in your team will be important to consider, and we’ll help with shipping materials you identify for prototyping, providing mentors, and outsourcing where we can.
Who will teach the classroom sessions?
Classroom sessions will be taught by LaunchX staff, as well as by experienced entrepreneurs, business professionals, and university instructors.
You will have both the required curriculum classes which go through the entrepreneurial process (1-3 sessions per day), plus elective sessions. In the elective sessions, you are able to tailor the entrepreneurial experience to make it your own, and choose sessions either specific to your industry interests, to build your specific skills, or hear more from startup founders.
This is one of the exciting things about the virtual experience - the opportunity to customize it to make it your own!
Will there be homework or graded assignments?
There are not traditional grades, though teams are expected to be making consistent progress on their startups, and students must attend their required curriculum classes plus all elective classes to which they sign up. They are also expected to be actively present in all of their classes which includes having their videos on and engaging in discussions.
LaunchX is about starting real companies, not about an academic experience, so we expect students to take responsibility for their own progress, meet daily with their teams, and commit fully to the process.
Will I get academic credit for going through the program?
No—no credit is available through our program.
How are co-founder teams formed?
There are many components that are taken into consideration to increase the chances of team alignment and success, such as:
We ask some targeted questions throughout the admissions process and once you’ve been admitted to help us better understand who you are and what types of people you’ll work with best. Questions about your experience and skills, personality, and the types of problems you’re interested in solving help us to determine who to team you with. You’ll find out who is on your team a couple weeks prior to the summer program.
Because teaming is so important, our process for building co-founder teams is very iterative—we’re always asking ourselves “how can we form stronger teams?” and experimenting with new tactics.
Do I need to have a business idea I plan to pursue prior to applying?
No. We’ll have a process to help you come up with ideas through some of the pre-work and first few days of the program, though we emphasize the value of solving a real problem over the specific idea. The process will guide you in keeping an open-mind as you search for opportunities that fit within your passions, skills, and current market trends. We’ll teach you how to critically assess these opportunities and adapt your chosen opportunity to improve viability and value. You may come in with an opportunity you have already started, though other students will have to want to pursue it in order for a team to move forward with it during the program.
It’s important to remember that while it might be your original opportunity, you are now working with a well-equipped team of brilliant peers with whom you need to find a common vision of success—both for the summer and for the continued growth of the company. Ideas are a dime a dozen, with most having been thought of or even worked on before, so success comes down to execution. To execute well, you need all the skill sets of your team.
If you do come to LaunchX with a business idea, keep an open mind and be willing to adapt in response to new market research and new ideas. Almost all ideas change from their origination to actual implementation, especially in successful companies, and your teammates will be well positioned to bring a fresh perspective. Humility and openness to feedback is key.
Will I pitch to venture capitalists to raise money for my company?
No. The purpose of LaunchX is not to raise investment funding and you will not be doing this as part of the program. While LaunchX students are able to accomplish an incredible amount—launching viable companies in just a month’s time—no students have ever left the program with enough traction to start pitching to VC’s (venture capitalists). You’ll have a lot more work to do after you leave the program to be ready for investment.
That said, you will learn how to pitch at LaunchX and will be prepared to pitch your startup to a variety of audiences. The program culminates with LaunchX Demo Day, during which event you will have a prepared video and do a live Q&A for a panel of mentors and receive critical feedback on your business that will help you take them it to the next level. It is possible that someone on your mentor panel may be an investor (note that there are several types of investors and not all of them are venture capitalists), but you should not expect this and you should certainly not seek investment from them at this early stage of your company.
Will LaunchX take any equity in my company?
No. LaunchX does not take equity in companies started in our program.
Are you accepting new students to LaunchX Virtual?
No, we are extending offers only to the students that were admitted to the in-person program.
I was admitted to LaunchX but I'd prefer to participate next year. Can I defer my enrollment?
No, unfortunately, we don’t offer an option to defer the enrollment.
What is included in the LaunchX Virtual fee?
The program fee is $5450 inclusive of the full six-week program, discounted heavily from our in-person program, and includes a more personalized program experience which has been lengthened from four weeks to six to increase startup success.
If you have affordability concerns, please don’t let this stop you from applying—we offer need-based financial support packages based on family income. More information is also provided on the Summer Admissions page
There is also an application fee, which can be waived with proof of financial need.
When can I apply?
Application season is between October - February each year. During that time you can apply at apply.launchx.com
What grades and ages may apply?
Students in current grades 9-12 (freshman through senior, or international equivalent) may apply. This means that you must be in grades 9-12 when you submit your application. This equates to going into grade 10-12 or graduating during the summer of the program. Exceptions will NOT be made for advanced middle school students taking high school level classes, nor for graduated students in a gap year. There are no age requirements outside of the grade requirement.
What application materials are needed?
The application changes year-to-year, so you should check back in the fall to learn what is needed for the application. Usual application materials include your transcript, activities, a video, and answers to some questions. We do not require or accept test scores or recommendation letters.
Sections of the application include:
General Information— The first section of the application asks for basic personal information. We ask you to self-identify some demographic data. If you don’t see a fitting option, not a problem—there is space provided for an open-ended response. We also ask you to select if you will need financial assistance to attend the program. LaunchX is need blind. This means that your family’s financial status will not negatively impact your chances of acceptance in any way. This question will simply allow us to assess the potential for an application fee waiver, and will let us know to send you a financial need application if admitted.
School Information & Transcripts— In this section, we ask you for information about your school and performance. Your grades and transcripts are the least important part of the application, and they have little impact on whether or not you’re accepted into the program, though they provide some insight on your academic rigor and learning propensity.
Activities— Here, we want you to give us a sense for your passions, interests, and your ability to create real impact. We want to see that you are motivated and action-oriented in pursuing the things that matter to you. Show us that you are entrepreneurial—an ambitious and purpose-driven self-starter who rises to the challenge. Be brief! Include your role and explain the impact that you made, but please do not use this space for sentimental or philosophical reflection.
Video— Introduce yourself in a video of 60 seconds or less. Ensure you cover who you are, what you care about, and why you are interested in entrepreneurship. We want to see:
Does my transcript need to be official?
No. A scanned copy of your unofficial transcript will be sufficient. We will not accept a mailed copy, so please use the application to submit only. It must be in English, cover all years of high school education and include an explanation of the school’s grading system. We do not accept middle school transcripts as substitutes for students early in high school. We also do NOT accept updated transcripts past the deadline of the application round to which you apply. This means that if you really want to have your current semester grades as part of your application, you need to apply regular round. Sorry, you can’t apply early round and email us your transcript later.
Your transcript can be picked up from your school’s registrar or your counselor, or if your school uses an online grade reporting system such as Naviance, you may upload the transcript you find on there.
If your school does not provide a grade point average (GPA), you can calculate yours using the calculator provided in our application.
What is the advantage of applying early?
Early admissions candidates are able to find out their admissions status in advance of the regular admissions candidates. Also, applying early allows you to be compared against a smaller pool of candidates with a typically higher yield of acceptance. We do not accept application materials past your application round deadline, though, so consider your timing carefully. This is particularly relevant for freshman applicants, since you will likely not have received your first high school transcript by the early application deadline, limiting our ability to assess your academic propensity. We encourage freshman applicants to apply in the regular round, as we do not accept middle school transcripts.
What are the selection criteria?
The admissions committee looks for candidates who show initiative, action-orientation, coachability, and a fit with our values. We look for students who show to us that they have what it takes to become successful entrepreneurs. There are no minimum grade or activity involvement requirements.
Great applicants have a proven track-record in working successfully with teams to create exceptional impact. It isn’t about coming up with ideas—it’s about the work you put in to see them through.
Entrepreneurial—You take initiative to push yourself outside of your comfort zone. Impact-Oriented—You don’t just care about what you do, you care about creating real results. Committed—You pour yourself intensely into your passions and you persevere. A Team-Player—You’re able to collaborate dynamically and put team goals before yourself.
How are applications reviewed?
The review of applications is not based on the timing of your submission (with the exception of reviewing early applicants and regular applicants during their respective groups. The admissions committee may also be reviewing from locations besides Massachusetts, so please do not read into any YouTube analytics for any signals. Every application gets at least two reviews.
Are there any things that will hurt my chances of admittance?
Once you are admitted into our program, you become a part of our community and brand, so we expect you to conduct yourself in a way that represents our community and brand in a positive light. If we learn about misconducts or misrepresentations that we feel do not represent our community, your candidacy will be removed.
Additionally, we ask that you please exercise patience in waiting for an admissions decision. Respecting this request allows us to focus on reviewing applications to ensure we can get decisions out as quickly as possible for everyone.
How will I find out if I am admitted?
Admission decisions will be emailed to applicants by the date listed on the summer admissions page using the email address used to register the application. Please ensure this is the email you would like to be used for contact. A select number of students will be placed on a wait list.
Should I email LaunchX if I have not yet received an admissions decision?
Please refer to the summer admissions page for the dates that decisions will be released. We ask that you please exercise patience in waiting for an admissions decision. Respecting this request allows us to focus on reviewing applications to ensure we can get decisions out as quickly as possible for everyone.
Is there an application fee?
Yes. There is an application fee which can be waived with proof of financial need.
Are scholarships/ financial support available?
Yes, financial need based support is available to both US-based and international admitted students.
To apply for financial support, indicate your interest in applying within the application form, including answering the additional questions. Admission is need-blind, meaning that indicating you need financial support will never will never hurt your chances of admission. This simply allows us to follow-up with a financial need application if admitted. We aspire to make it possible for all admitted students to be able to attend, regardless of financial background.
Admitted financial-need students will need to provide income statements (typically tax documents showing income of both parents) for the past two years, though additional information may be asked to understand the family financial status. Bank statements may not be used as a substitute to show income documentation.
We also offer application fee waivers to students who provide evidence of need.
What online learning options are available?
Our online course, Becoming an Entrepreneur, is available on edX.
Is the online course only for high schoolers?
No! Becoming an Entrepreneur offers informative and engaging lessons and activities for anyone interested in exploring an entrepreneurial path, regardless of age or background.
What can I expect to learn in the course?
Becoming an Entrepreneur is an innovation and business course designed for aspiring entrepreneurs who want to explore an entrepreneurial path and overcome some of the initial challenges in taking those first steps.
From developing new business ideas and doing market research to entrepreneurial strategy and pitching, this course follows MIT’s successful approach to entrepreneurship. There will be a combination of short videos, thought-provoking case studies, and activities that will challenge you to get you away from your computer screen and into the community to make a real impact.
The course includes:
Who is the instructor for the course?
LaunchX founder and executive director, Laurie Stach, is the main instructor for the course. The course also features “Frank”—a bumbling first-time entrepreneur who supports the lessons while providing comedic relief.
How was the course curriculum developed?
The course curriculum follows the same entrepreneurship framework that we teach in our other programs. It includes proven methodologies such as Disciplined Entrepreneurship, Lean Startup, and Design Thinking.
How many people have taken the online course?
Over 200,000 students have completed this course. The course is rated 4.5/ 5 stars from 670+ reviews.
How much does the course cost?
Becoming an Entrepreneur is a free course. Verified certificates are available for purchase.
How can I speak to a member of the LaunchX team?
The best way to connect with a member of the LaunchX team is by emailing us: email@example.com.