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Every year, SEID fosters productive collaborations between MIT Sloan students and new ventures in emerging markets as part of our action learning projects. Teams of 3-4 MBA students spend the fall semester working with these organizations to solve important str
ategic challenges they are facing. In the spirit of the MIT motto, Mens et Manus, MBA students get an amazing opportunity to apply the theories from the classroom to have real impact on the ground.
This year, SEID has organized 8 projects for MBA students to immerse themselves in. Each project is an entrepreneurial venture with operations on the ground in a developing country. Our projects are spread throughout the world in Tanzania, Iraq, Ghana, India, Liberia and Nicaragua and cut across a whole range of industries.
Promethean Power Systems, founded by MIT alumni, has developed a solar-powered refrigeration system for commercial cold-storage applications in off-grid and partially electrified areas of India. Their technology enables food suppliers to store and preserve perishable food items—such as milk, fruits and vegetables—without the need for expensive diesel-powered generators. The company believes that creating a cost-effective solution for cold-chain food distribution in emerging markets is an excellent business opportunity that could deliver enormous social and environmental benefits.
The MIT Sloan student team will help develop a market research and technology road-map that will help Promethean expand. The team will assess countries for expansion and determine market sizes for the primary markets commercial cold-storage. In addition, the team will look at new markets beyond milk chilling and identify potential partners and acquisition targets. Finally, the team will develop a technology road-map for product development by recommending activities that will ensure Promethean is constantly seeking out and applying the latest technology break-throughs for their chilling system.
Founded in 2008 byMIT Sloan alumni and a product of NextLab and Development Ventures at the MIT Media Lab , Assured Labor enables mid-to-low wage workers in emerging markets to connect with job opportunities using their mobile phones. The disruptive service drives efficiency and transparency into labor markets around the world. The service, named EmpleoListo, is currently running in Latin America in partnership with the regions largest wireless carrier. The management team consists of mobile, media, software, marketing, labor policy and start-up experts from MIT and Harvard. The venture backed company launched its Latin American brand EmpleoListo.com in the Fall of 2009.
Having already established themselves in Nicaragua and currently expanding in Mexio, the company recently raised a Series A round in April 2010 from multiple prestigious angel investors (including the former CEO of skype and CEO of OLX.com) and two venture funds (Nexus Venture Partners and Kima Ventures).