Tag Archive: MIT $100K

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    by Angie Chang

    Democratizing Entrepreneurship: The Next Generation Of Networks

    Online connections give entrepreneurs access to a global network of founders, mentors and advisors.

    By Lesa Mitchell (Vice President, Kauffman Foundation)

    In 1950, Ewing Kauffman launched his pharmaceutical company, Marion Laboratories Inc., in the basement of his modest home in Kansas City. During his first year in business, he had sales of $36,000 and a net profit of $1,000. By the time he sold his company to Merrell Dow in 1989, it had become a global diversified healthcare giant with nearly $1 billion in sales.

    In 1976, Steve Jobs and Steve Wozniak launched Apple. The first world headquarters for their world-changing venture was Jobs’ family garage.