The room next door to me at my Palo Alto home, sleeps an MBA who has been EXTREMELY busy in the last couple of months, whilst I have been ramping down. I feel so bad for not blogging about this earlier... But today is great news for a Stanford team consisting of MBA, engineering and design school students pursuing the entrepreneurial dream.
D.light design, a team that includes my room-mate and another Stanford MBA just secured $250,000 prize from the DFJ venture competition. The team is a for profit venture introducing a low cost LED light for the poor in the developing world intended to replace kerosene and those out of reach of an electric grid.
As some of you know about the funding process, you shop your idea around the valley for ages and then once you get that initial funding, everyone wants to participate! This is an interesting space, I am of course very interested in this area as it's making money by creating real value for the developing world.
The venture is a result of strong collaborative nature at Stanford between engineering, design and the business schools through some really great classes- the one that comes to mind is the increasingly popular design for extreme affordability class.