IMD announced Dronistics as one of the winners of IMD Startup Contest
Today IMD announced Dronistics as one of the winners of the 21st annual IMD Startup Competition. As part of this, Dronistics will work with IMD's Executive MBA student and also accompany them to Silicon Valley in September 2019, and observing as the students pitch them to Silicon Valley VCs.
Every year since 1998, IMD has searched for a group of promising early-stage ventures to work with the experienced managers in our fulltime MBA, and EMBA cohorts. The idea for the competition was sparked by a Silicon Valley Venture Capitalist. IMD’s Dr. Jim Pulcrano, who helped create the EMBA, had explained to the high-powered VC, the school’s plans to enhance the students’ understanding of entrepreneurship and innovation by visiting the San Francisco Bay area. When Jim asked if he’d be willing to speak to the class, he responded that he’d prefer to have them speak to him and that he’d like to hear their business ideas, and, even better, he’d like them to pitch real startups to him. Thus, was born the IMD Startup Competition, and 20 years later, more than 400 Swiss startups have collaborated with IMD.
Many of these startups have done well. Some went public already, some companies landed over USD $100 million in funding and some others were acquired by giant companies like Apple, Qualcomm, and Intel.
Every year IMD starts from scratch, looking for the next cohort of great Swiss startups who will learn from our students, and that our students can learn from and add value to. This year brought 142 candidates to IMD. Prof. Benoit Leleux remarked, “This was one of the best vintages we’ve ever had. Choosing the ones that would work with us in 2019 was very difficult.” Dr. Pulcrano added, “Selecting 27 winners from such a great group of promising ventures was hard, probably one of the toughest tasks we undertake each year. I wish we could somehow work with 100 of them!”
The winners of the contest are categorized into two sets. Dronisics is selected in the prestigious category such that Dronistics will work with IMD's Executive MBA student and also accompany them to Silicon Valley in September 2019, and observing as the students pitch them to Silicon Valley VCs.