The Martin Trust Center for MIT Entrepreneurship has unveiled the MIT Entrepreneurship JetPack, a generative artificial intelligence tool that promises to streamline the startup development process.
The JetPack is currently being used by entrepreneurship students at MIT and is being piloted outside the institution. It's accessible through the Trust Center's Orbit digital entrepreneurship platform, which was launched in 2019 to provide a more dynamic, mobile-friendly resource for students.
Paul Cheek, Executive Director of the Trust Center, and Doug Williams, Product Lead, played crucial roles in developing both Orbit and the JetPack. The team has been analysing user data since Orbit's launch, to understand how students prefer to access information and guidance for their startup ideas.
Shari Van Cleave, MBA '15, one of the early beta users, demonstrated the tool's capabilities in a YouTube video. Using an experimental idea for mobile electric vehicle charging, she received AI-generated suggestions for market segments, business models, pricing, and more within seconds.
The tool's versatility extends beyond nascent ideas. Aulet notes that it can also assist entrepreneurs further along in the process by providing insights on improving company performance or identifying better target markets.
As the MIT Entrepreneurship JetPack continues to evolve and expand its user base, it could significantly impact how new businesses are conceptualised and launched, potentially lowering barriers to entry for aspiring entrepreneurs and accelerating the startup development process.