Associate, Solve Innovation FutureApply for this job
Location: Cambridge, MA
Solve is an initiative of the Massachusetts Institute of Technology (MIT) with a mission to solve world challenges. Solve is a marketplace for social impact innovation. Through open innovation Challenges, Solve finds incredible tech-based social entrepreneurs all around the world. Solve then brings together MIT’s innovation ecosystem and a community of Members to fund and support these entrepreneurs to help them drive lasting, transformational impact.
Joining the Solve team offers the chance to play a leading role in defining this cutting-edge and diverse community.
In 2019, Solve launched Solve Innovation Future—a philanthropic venture investment vehicle, dedicated to investing in Solver teams. Through a Donor Advised Fund (DAF) held with a sponsor organization, Solve offers flexible and catalytic capital to scale early-stage impact solutions around the world. Solve Innovation Future is designed to support technology-driven solutions, be open to global innovation and use a portfolio approach to address global challenges. Solve Innovation Future is an innovative mechanism to distribute grants and make investments in the Solver teams – incredible tech entrepreneurs with impact.
Solve is seeking an Associate to scale and support the fund. The Associate will play a critical role in fundraising, investor relations, due diligence, and portfolio management.
This is an exciting opportunity for a self-starter who is not afraid to roll up their sleeves and build a movement to address the biggest issues of our time. This is a full-time position, located in Cambridge, MA. The Associate will report to Solve Innovation Future’s Principal.
Principal Duties and Responsibilities (Essential Functions):
Fundraising and Investor Relations (70%)
- Develop and execute a fundraising strategy and multi-million dollar Campaign in collaboration with Solve Innovation Future Principal. This may include organizing meetings, road shows, and gatherings as well as targeted marketing campaigns to raise funds.
- Build and maintain relationships with prospective funders and potential donors, including through initial prospecting (e.g. introductory meetings, Hubspot campaigns, etc.).
- Typical gifts garnered by this job are in the $1M to $5M range
- Represent MIT Solve and Solve Innovation Future with high net worth individuals, corporate, and foundation representatives to secure financial philanthropic support in furtherance of MIT Solve goals.
- Work collaboratively across MIT Advancement system to expand philanthropic support of MIT Solve and Solve Innovation Future, including building and maintain relationships with Advance Relationship Managers.
- Build and execute advanced plan for engaging MIT Solve Advisors and MIT Corporation members in an expertise and person-centric way.
- Oversee junior staff in developing relevant strategic and fundraising materials.
- Manage post-investment portfolio reporting, including working with Solver teams to collect data and support direct growth initiatives as appropriate—to create marketing materials and other collateral that can be shared with potential funders and partners.
- Work across functions to generate thought leadership in support of Solve Innovation Future marketing and investor relations, including Solve Innovation Future annual report.
- Support ongoing donor relations efforts (e.g. building materials for quarterly Leadership Circle meetings).
- Support coordination and organization for Solve Innovation Future related events at Solve at MIT and Solve Challenge Finals (in NY during UN Week), Solve's flagship events bringing together Solver teams and existing and potential donors as well as public and private sector partners.
Investment and Transaction Support (30%)
- Conduct due diligence on Solver team pipeline for Investment Committee review, including financial analysis, business model review, risk assessment, and impact diagnostics.
- Manage ongoing market research to make recommendations for future investment opportunities (e.g. investment research and market trends).
- Support existing Solve Innovation Future portfolio in strategic and growth efforts (e.g. pitch deck guidance, capital planning, etc.).
- Work closely with the Community Team to understand financial and non-financial needs of Solver teams and support partnerships between Solvers and Solve members and partners to advance the growth of selected solutions, and measure the impact of Solve’s work.
Position will report to Principal of Solve Innovation Future, and will collaborate across MIT Solve.
Qualifications & Skills:
- Minimum 5 years’ experience, preferably in consulting or investing
- Experience managing high level investors and stakeholders required
- Ability to work in a fast-paced, ever-changing environment
- Must be flexible and able to work independently, take initiative and anticipate needs
- Bachelor’s degree required
- Experience in social and/or environmental impact organization highly preferred
- Experience fundraising and/or enterprise sales preferred
- Highly developed organizational skills, ability to prioritize and plan work in an efficient manner to meet deadlines
As an MIT Solve employee, you are eligible for a number of benefits, perks, and discounts, including:
- $50/month cell phone bill reimbursement
- Transportation: Free, unlimited subway and local bus use, and subsidies for MBTA station parking and the commuter rail; Subsidized annual BlueBikes membership ($40, regularly $99); MIT Bicycle Commuter Reimbursement Program (up to $300/year)
- Free access: Institute of Contemporary Art, Museum of Fine Arts, Isabella Stewart Gardner Museum, and more
- Tuition assistance: Up to $5,250 per calendar year for eligible employees
- Time Off: 12 paid holidays and special Institute holidays (including Juneteeth and Patriots’ Day). 3 weeks of paid vacation your first year; 4 weeks after your first year
- Retirement: MIT Pension Plan with full vesting after 3 years; MIT will match up to 5% of your pay in contributions to the 401(k) Plan
- Healthcare: comprehensive healthcare coverage, including fitness reimbursements through enrollment in an MIT medical plan, free counseling sessions through MIT MyLife Services, and hormone therapy/gender-affirming surgery
- MIT Employee Resource Groups (ERGs)
- Backup Child Care benefit
MIT Solve is committed to inclusion and diversity to build a team that represents a variety of backgrounds, perspectives, and skills. The more diverse our team is, the better we can achieve our mission of solving world challenges. Meet our team.
MIT is an equal employment opportunity employer. All qualified applicants will receive consideration for employment and will not be discriminated against on the basis of race, color, sex, sexual orientation, gender identity, religion, disability, age, genetic information, veteran status, ancestry, or national or ethnic origin.
To apply: Please visit web.mit.edu/jobs, reference #20326-11. No phone calls or recruiters, please.Apply for this job