Is your dream to start your own business, or to use your brilliant, creative mind to innovate and explore? Have a million-dollar idea you’ve been sitting on because you’re not sure what to do with it?
Maybe you just think it’s cool to solve big challenges?
First, if any of these describe you, you sound pretty amazing. Second, LaunchX might be an interesting option for a summer program for you.
TABLE OF CONTENTS
(click to skip ahead)What is LaunchX?
While there are many (and we mean MANY) ways to spend your high school summer (check out that guide for some cool suggestions), for those business-minded students out there, LaunchX—a summer entrepreneurship program for high school students—could be right up your alley. In the span of a few weeks, program participants propose, research, and then launch a product or company, all under the mentorship of industry experts and professionals (think CEOs, COOs and CTOs), as well as highly-respected faculty from university business programs.
The program is fast paced, challenging (in good ways), and pretty selective in terms of who gets accepted. But if you get to the other side of the application process with an admission offer in hand, you’ll most likely complete the program with a new understanding of what it takes to be a successful entrepreneur, and, perhaps more importantly, a new confidence in what you’re capable of. LaunchX is all about self-discovery, taking intellectual risks, and learning to collaborate.
LaunchX Programs
LaunchX originally “launched” in 2012, as MIT’s Launch Program. Within just a few years, the program grew into its own company that now offers several different paths for students interested in participating. There are both online and on-campus choices, and students can choose from various geographic locations.
LaunchX Summer Program
The Ann Arbor Entrepreneurship Program is a four-week program that lets students live and work on the University of Michigan campus. The focus is on creating a product and company from start to finish while working with other “Launchies” who you’ll be paired with based on a process LaunchX uses that connects students who they think will collaborate well with each other. There’s no guarantee you’ll meet your new best friend or business partner, but you definitely could!
The Bay Area Entrepreneurship Program is also a four-week program, this one at UC Berkeley. Sharing the same goals and methods as the Ann Arbor Program (mentorship, collaboration, learning from failure, completing hands-on projects, performing your own research, marketing your company), this choice might be the best for you if the West Coast calls your name!
Online Entrepreneurship Program
If connecting online is more your speed, LaunchX offers this five-week program that allows you to collaborate with other students on a global scale. Participants in this program attend virtual classes and lectures, have regular meetings with their team and their mentors, and still experience hands-on learning by working with LaunchX project and prototype resources. Similar to the in-person programs, the online program challenges students to launch a company and product at the end of the five weeks (so while you hypothetically CAN sit in bed and eat pizza while you participate in this program, you still have to WORK).
Online Innovation Program
If you’re a problem-solver, this program would be awesome for you. LaunchX considers participants as “consultants,” and your task is to work with your team to help solve an actual problem that an actual business needs help with. You get to work with students from around the world and will get first-hand knowledge about the challenges businesses face and the resources they need to address them. In this program, you and your team (under the guidance of your mentors) will have a real-world impact on the companies you’re working with, all while you’re on break from high school!
How to apply to LaunchX
Eligibility
The only “rule” about eligibility is that you are a current high school student, but LaunchX does expect you to show that you’ve had an interest in or maybe even some experience with entrepreneurship, that you have some pretty developed problem-solving skills, and that you’re able to work in a collaborative and high-paced environment.
The application process is lengthy and involved, so we encourage you to give this some thought before you decide to apply.
Application requirements
To be blunt, the LaunchX application requirements are fairly extensive, asking you to complete multiple steps and sections to be considered for the program. But the good news is that once you submit each required piece, LaunchX will have a really strong idea of your fit for the program. There are six areas of the application, each designed to highlight a different aspect of who you are.
The General Info section is your basic get-to-know you stuff like your contact information, your interests in the program, and if you have any prior connection to LaunchX.
The application also requires
your current high school transcripts
information about your activities (especially those related to entrepreneurship)
and a video you create that helps them learn about your personality
There is also an “Entrepreneurial Mindset” section that lets you highlight your problem-solving skills, and, finally, a set of questions designed to help LaunchX pair you with the right teammates.
There are also optional sections of the application where you can submit
a portfolio
and a recommendation letter (probably from one of your teachers).
While technically “optional,” we tend to recommend completing things like this when possible—not doing so tends to just be a missed opportunity.
Like we said, extensive. But also, worth it if this program sounds like your jam.
Deadlines
Applications open in the Fall (usually in September) and officially close in April, and with LaunchX, the sooner you can submit, the better. Getting yourself into the Early Applicant Pool increases your chances of getting accepted since LaunchX admits students from the time applications open until all spots are filled (even if that’s before the April deadline).
According to LaunchX, it also means your application will be compared against a smaller number of applications from other potential participants. There is some strategy involved here, but at least they’re honest about it.
The LaunchX acceptance rate
Although LaunchX doesn’t give specific numbers for how many students apply each year, they do tell us their acceptance rate is around 30%. So, what does this mean? It means that no one is a shoo-in and that 70% of applicants won’t get accepted. But it also means that you have a good chance of getting in if you are detailed and thorough in your application, and if you can demonstrate a genuine interest in entrepreneurship. That last part is key.
Is LaunchX worth it? (Should you apply?)
We can’t directly answer this question for you since “worth it” means different things to different people. But we can definitely give you some things to consider as you make your decision.
One major con: cost. LaunchX is expensive, and while they do offer financial aid, the cost could be prohibitive for those who don’t qualify. The Online Innovation Program is $4,750, the Online Entrepreneurship Program is $6,500, and the Ann Arbor and Bay Area Entrepreneurship Programs are $9,970. If you are an international student, tuition will increase by $150 for the on-campus programs to help pay for international insurance. You can request an application fee waiver as part of your application, and if your family income is less than $100,00, you can apply for financial aid. But for many families, the cost of this program means it’s not a feasible option for the summer. There are also some mixed reviews from past attendees.
Having said that, there are some definite “pros” of this program. LaunchX tends to focus less on grades than other programs do to determine who gets accepted. They’re looking for students who are energized and excited about launching a business, and if your heart is really in entrepreneurship, this program can potentially offer amazing real-world experience, the chance to grow your network, and the promise that you will leave the program with an actual product (not just the idea of one). LaunchX reports that 15% of companies students start in their summer program are still up and running (though a big caveat that we have no idea if you can take them at their word there…)!
So, is it worth it to apply to LaunchX? You’ll know this answer better than anyone. There are other summer programs devoted to learning about business—check out Wharton's Global Youth Program, for example, though it also shares many of the cons mentioned just above, or other programs like RSI, SSP, SAMS, MITES, MOSTEC. And there are other ways to spend your break (like taking an actual break). And remember that colleges actually highly value work experience (contrary to common misconceptions), so a summer job can be a great option to demonstrate values and character in your college applications.
But if the idea of working with like-minded people to create something new and innovative sounds like exactly how you want to spend your time, LaunchX can potentially give you that. And who knows what could come of the company you start and the product you create?
Special thaks to Jessica B for writing this blog post
Jessica has a Ph.D in English from the University of Southern California and teaches English at a Los Angeles-area independent school, where she has also been English department chair and a class dean. Sandra Cisneros is her hero, and she loves books, her awesomely-sarcastic family, the beach, cozy sweaters, and more books. Oh, and her sweet pitbull/lab mix named Ruby.
Top values: Curiosity, equity, wonder
