A response to Joe Cahill’s column “The Fortune 500 vs. Generation Y,” Crain’s Chicago Business

Blog by Frank Muscarello, Founder MarkITx

Just over a year ago MarkITx was accepted into 1871 as one of the first 15 companies to become part of the community. To say that the journey from beginning to end has been remarkable seems to fall somewhat flat in expressing what I feel has been the true reward of our time here. We have accomplished so much in such a short period of time – an acceleration of our business that would not have been possible anywhere else. Without question, 1871 has been the conduit to building our networks and to our burgeoning success.

We entered 1871 without fully realizing what we were getting ourselves into. We leave knowing we have been a part of something game changing – both for our business and for Chicago.

At 1871 we were lucky enough to find our technical co-founder who made the decision to take the role without pay because he believed in the concept and because he thought that if things didn’t work out, he could find other cool startups to go work for at 1871. We continue our aggressive pursuit of top talent from the best engineers, operations, and business development who are excited about the opportunity to disrupt a huge market.

Plugging into the 1871 ecosystem also helped us raise a significant amount of capital for our seed round and we are generating interest from the top east and west coast firms who will be there to support our continued growth.

We have always looked at 1871 as an opportunity. Our commitments were high for our families and we knew we were going to try and capitalize on what was in front of us. This place doesn’t do the work for you but the rewards continue to grow the more energy you put into it.

It is bittersweet to become alumni of 1871 today, but it has truly been an honor to call this place home for the last year. We look forward to the next chapter in our business trajectory and in having the chance to give back to this community by becoming what we hope will be a success story that spawns innovation and creativity for other entrepreneurs here in Chicago.

Thank you to JB, Kevin and the entire CEC team for all of the support.

[Read more…] about Our 1871 Journey Begins and Ends (A new chapter starts today)

Today we introduce a new video series featuring many of our fantastic CEC board members discussing their personal experiences and ideas on being an entrepreneur. Our first video features Genevieve Thiers the founder of Sittercity.com. Check back often for new posts weekly.

By Hugh Musick, Associate Dean; Director of Executive Education

IIT Institute of Design

You have an idea, the technological know-how to build it, and the energy and ambition to realize it, but how do you know if people need it? All too often start-ups lead with what they’re convinced are sure-fire ideas. However, after investing significant time and energy into building the product or service and launching it into the marketplace, their efforts are greeted with a big yawn. Why? In the push and the excitement to realize ideas, most start ups fail to consider the user.  So, how might things be different if instead of moving toward implementation, a start up began by understanding the larger context in which they think an opportunity exists? What if the start up began by conducting research that allowed them to observe the daily lives of people, identify problems or challenges they face, and see how existing solutions help or hinder users of those products and services? At a minimum, such research would give the start up a better understanding of the domain in which it’s trying to make a difference. Perhaps more important, findings from this type of activity could inform the start up about the types of solutions that are truly needed. The effort expended up front to learn about users increases the likelihood of creating something that people actually want.

[Read more…] about Learning user-centered design from experts at IIT Institute of Design