World-renowned academic in the field of management, Prof. Edward Roberts has passed away. With a seven-decade career in academia, Roberts left an indelible impact on the field of entrepreneurship, inspiring many at MIT to embark on their entrepreneurial journeys. His work reached far beyond MIT, influencing the global entrepreneurship and academic sector.
Roberts held several notable positions including the David Sarnoff Professor of Management of Technology, and his leadership led to the establishment of the Martin Trust Center for MIT Entrepreneurship. The Center has since played a critical role in the commercialization of many innovative ideas.
The President of MIT acknowledged that Roberts played a vital role in shaping MIT’s entrepreneurial culture, which is now recognized globally for its success in creating startups. His pioneering efforts in entrepreneurship education reshaped the approach to the field worldwide, enhancing MIT’s reputation and impact.
Roberst advocated for the founding of companies built around a strong core concept and innovative technology. His guidance assisted numerous individuals in turning their groundbreaking ideas into prosperous startups significantly. The Martin Trust Center, acting as a robust pillar of support, has further backed these innovative endeavors.
As per 2015 reports, until 2014, MIT alumni had founded almost 30,200 active firms that employed around 4.6 million individuals, generating annual revenues of about $1.9 trillion, comparable to the GDP of top-tier global economies. These figures underly the substantial influence MIT and its alumni have on the global business landscape.
Born in 1935, in Chelsea, MA, Roberts was emblematic of MIT’s multifaceted potentials. He studied economics and also earned his undergraduate and master’s degrees in electrical engineering. His collaboration with a fellow MIT faculty member, Jay Forrester, laid the groundwork for industrial dynamics. After attaining his doctorate in economics with a focus on system dynamics, Roberts joined the MIT faculty, where he conducted extensive research in organizational studies.
