At BU MET’s Second Annual Symposium on Entrepreneurship & Technology, Accomplished Speakers Put Responsibilities and Challenges of Entrepreneurs in Focus
On Friday, December 6, and Saturday, December 7, 2024, the Metropolitan College Department of Administrative Sciences hosted the second annual Boston University Symposium on Entrepreneurship & Technology. Titled “The Paradigm Shift: Exploring Entrepreneurship in the Next Generation,” the event gathered business leaders, academics, and students for what Department of Administrative Sciences Chair Irena Vodenska, in her introductory remarks, called “a platform to exchange ideas. “
An academic exploration of the evolving global landscape, papers, and presentations would touch on themes that include the transformative role of AI in entrepreneurship, enterprise management strategies, sustainable entrepreneurship, and empowering women in entrepreneurship, among others. With a high degree of international participation, there were a total of 56 abstracts submitted from 34 different institutions representing 11 countries—Canada, Greece, India, Iran, Mexico, Oman, Pakistan, Saudi Arabia, Turkey, Uzbekistan, and the United States. Of the 45 papers accepted for presentations, 23 came from the Boston University community.As the event commenced, Professor Vodenska laid out the symposium’s three pillars: empowerment through knowledge, collaboration across disciplines, and commitment to impact. These values, she explained, reflect the degree programs within the Department of Administrative Sciences, which put on the event. “We’re preparing students, professionals, and innovators to be trailblazers who don’t just adapt to change, but drive it,” she said. “I challenge each of you to aim high, think big, and take bold steps forward. As entrepreneurs and technologists, you hold the power to create solutions that are not just for the present, but for generations to come.”
Keynote Focuses on Technological Frontiers
Metropolitan College Dean Tanya Zlateva welcomed attendees and introduced the keynote speaker, exemplary MET alum S.D. Shibulal (MET’88), who Dean Zlatava called “a legend in the technology industry,” owing to his standing as one of the seven software engineers who, in 1981, founded Infosys, a multinational corporation providing business consulting, information technology, and outsourcing services. In addition to leading the organization in various capacities, including as CEO and managing director from 2011 to 2014, during which Infosys enhanced its global footprint and expanded its service offerings, Shibulal played a crucial role in developing the Global Delivery Model, which revolutionized the delivery of outsourced IT services.
Dean Zlateva explained that the company’s initial capital was a mere $250—a humble beginning for an organization that boasted $19 billion in revenue and 320,000 employees worldwide in 2024. Shibulal was instrumental to this growth, and when it was time for his next act, he founded a new organization, Axilor Ventures. Today, Axilor Ventures supports early-stage startups through funding, acceleration, and incubation and, with a portfolio of more than 100 companies, is one of India’s most active seed funds.
Also a member of the BU Board of Trustees as well as the Metropolitan College Dean’s Advisory Board; for all his achievements, Dean Zlateva said that what is most laudable about Shibulal is his empathy and attentiveness. “Here is someone who has the attention of the leaders of industry, high government officials, and heads of state, but will spend hours talking to young students who struggle to adapt to college life in a foreign country, who would generously provide scholarships for children of the poorest families, and do it in a way to encourage hard work and develop high expectations—so, not a handout, but a hand to the future,” she praised.
Telecommuting from India, Shibulal began his address with warm recollections of MET as a “place that holds so many cherished memories.” He also noted how much the technology space has changed since his 1988 graduation. His journey through the modern history of technology, he explained, “has been one of transformation, adoption, and discovery, shaped by the rapid evolution of computing.”
What began with refrigerator-sized computers reached a new plateau with the 1994 launch of the web browser Netscape, which Shibulal called the beginning of a “new frontier” in computing, as his work evolved from simply organizing data to managing information in real time, and as systems went from closed environments to the expansiveness of the internet. When ecommerce emerged, Shibulal was there, leading its development at Sun Microsystems. “This platform allowed customers to place orders online, offering unprecedented insights into consumer behavior in real time,” he explained, paving the way for modern customer-centric businesses like Amazon and Uber.
Technology has come a long way, he explained, helping to “enhance safety, reduce errors, and improve convenience.” Now, he suggested, a new era in human technology is emergent—an “intelligence age,” where automated functions will become active participants in our lives, shaping decisions and outcomes. Shibulal described that the new technology economy of this artificial intelligence age is one that will deemphasize products and services to rather shift to experiences, providing Tesla as an example of a company that was putting the needs of its customers at the forefront.
Shibulal’s next key point was that entrepreneurial efforts must consider more than just profits but balance them with purpose. “As we embrace these technologies, we must remember that progress isn’t solely about economic gains—it’s about fostering sustainable well-being for all,” he said. Indeed, Shibulal’s Axilor Ventures participates in this sphere, seed-funding companies that leverage AI towards early, non-invasive breast cancer detection as well as the development of personalized probiotics.
Shibulal’s next point was the emergence of digital public infrastructure, particularly in India, where the United Payment Interface (UPI) has “revolutionized financial transactions, making digital payments accessible to everyone from urban entrepreneurs to rural artisans.” He noted that in 2024 alone, UPI facilitated 13 billion transactions each month, transforming the country’s daily economy.
Shibulal made a point to underscore the importance of integrity and empathy among entrepreneurial leaders. “As budding entrepreneurs, you stand on the threshold of limitless possibilities,” he said. “But with great opportunity comes great responsibility.” Infosys, he explained, was founded with a strong commitment to fairness and ethics. “Integrity ensures that you remain true to your values, building trust with your customers and employees, and stakeholders,” he said. “Empathy allows you to understand the needs and aspirations of others, leading to solutions that genuinely improve lives.”
Finally, Shibulal sought to underscore the need for developing AI literacy in the public through investment. “The intelligence age offers tools and opportunities that previous generations could only dream of. But technology in isolation is not the answer,” he said. “It’s how we apply it—ethically, responsibly, and inclusively—that will define our legacy.”
Panel Explores Founder’s Plight
Following Friday’s lunch break, the Symposium’s Entrepreneurship and Technology Panel was assembled to share insights gleaned from successful careers in enterprise. Moderated by Ralph H. Groce III (CGS, Questrom, MET), who chairs the Metropolitan College Dean’s Advisory Board and is a member of the Boston University Advisory Board, the panel was a retinue of builders of industry whose diverse experiences were bonded by common challenges. As they described, each made tremendous sacrifices, staved off loneliness and doubt, and conquered uncertainty en route to their successes.
Groce, who today serves as president and chief operating officer for Scroobious, a startup initiative focused on creating equitable access to investment capital, marveled at the talent assembled, and could only wonder where he’d be today had he made their acquaintances in decades previous. “I wish I had met you all 20 years ago,” he joked.
As the executive director of Innovate@BU, BU’s initiative to foster a culture of innovation and entrepreneurship among students, Siobhan Dullea (CAS’91) brought more than 15 years’ worth of experience in the C-suite to the proceedings. Before joining Innovate@BU, she was the president and CEO of MassChallenge, a global network of zero-equity startup accelerators, where she played a significant role in fostering innovation and entrepreneurship, helping startups secure over $9 billion in funding and creating numerous jobs. In her experience, “irrational optimism” was a common thread among successful entrepreneurs. That, and the grit to persevere when launching one’s own business, proves to be a trial. “Even though it’s really hard, it’s worth it,” Dullea said of the personal sacrifices she’s made. “Some of those challenging times get you to where you’re meant to be.”
A member of the Metropolitan College Dean’s Advisory Board, Steve Akers (MET’94) always wanted to own his own company. Having now founded or cofounded four different companies to date, today Akers is president and CEO of MaxCogito, Inc., a company that builds products that leverage blockchain and other technologies utilizing cryptography to allow customers to securely exchange data between counterparties to financial transactions. To the budding entrepreneurs in attendance, Akers advocated for getting early career experience at a company you do not found, before striking out on one’s own, to learn key lessons while making a living “on someone else’s dime,” he recommended with a grin. Not only does this reduce risk, it also helps develop vital networks which are essential to professional success. The aid of others was a recurring theme in Akers’ remarks—he suggested it was wise to get into business with people with whom you have experience, and savored memories of fighting through adversity with others he trusts at his side.
Tanya Bakalov, the founder and CEO of HelloTeam, a modern employee engagement and performance management platform, did not emigrate to the United States from Bulgaria with designs to be an entrepreneur. She thought she’d be an accountant. But after her husband developed software with the power to monitor large financial institutions, the two struck out on their own, seeking funding to grow. This proved a challenge—particularly since the pair were married, drawing skepticism from investors—but eventually found success before ultimately being acquired by Bain Capital. This acquisition not only benefited Bakalov and her husband, but the company’s employees. When she took this experience to launch her own venture, Bakalov was disappointed to learn that her successes did not earn her greater trust from venture capitalists, who this time wondered why she was not partnered with her husband. Eventually, she was put in contact with the right funder, and today HelloTeam is redefining the way companies engage and retain top talent. For her, the key was having a team at her side she could rely on. “Surround yourself with people you trust, that you want to spend time with,” she advised.
Snejina Zacharia is the founder and CEO of Insurify, America’s top-rated virtual insurance agent. The company got its start 11 years ago, after a personal experience put Zacharia in contact with the difficulties of the insurance market. “I had to experience firsthand how fragmented and dysfunctional insurance shopping once was,” she said. Under her leadership, Insurify took the Kayak model of commerce and applied it to insurance, simplifying the process, adding transparency, and increasing ease of use. Today, it has redefined how consumers compare, purchase, and manage insurance policies and serves over 60 million quotes annually while facilitating $300 billion in insurance coverage. Zacharia echoed Mr. Akers’ sentiments about the wisdom of working for someone else before venturing out on one’s own. That’s the path she took, working in software before pursuing an MBA with the expressed intention of launching a business upon completion. Reflecting back, she advised that young entrepreneurs take advantage of accelerator programs like MassChallenge and TechStars, to develop audiences and networks. “You need the community,” she said. “You think you have it all figured out—you have no idea how much you don’t know when you’re starting a business.”
The panel agreed that artificial intelligence has the power to amplify business opportunities. “It’s a great tool; it saves a lot of typing,” Akers said.
Dullea attested to the ways she sees students leveraging the tool, saying, “AI is part of everything they are doing.”
For Zacharia, AI is a fundamental component of her business. At Insurify, it is used in everything from quotes to calculations and, increasingly, as a chat feature. She sees it as an instrument to increase transparency for consumers. “So many people don’t know what is in the small print in their policies,” she explained. But with narrative AI, they can upload their policies and get answers to important questions.
Bakalov has a long history working in what we now think of as AI, having been a part of the team that worked with Apple during the development and rollout of its Siri feature. Now, working in the HR space, she is much more aware of the legal restrictions on uses for automation, providing an example of an effort her company made to develop tools that could gather the information necessary to conduct a layoff. This could pose a legal liability, however, as regulations prevent the use of AI in such an instance.
In all, the Entrepreneurship and Technology Panel concurred that the budding entrepreneurs in the audience had a great deal of inspiring work ahead of them.
Closing Reflections
By Saturday, after two full days of programming, the time came for the Symposium co-chair, Dr. Marcus Goncalves, to wind down the affair with closing remarks that reflected on the major themes of the proceedings. The first theme identified was sustainability, which he called “no longer optional, [but] essential for long-term prosperity and survival.”
Next, Dr. Goncalves underscored the transformative power of artificial intelligence, which has redefined industries at a rapid clip. However, as he and other speakers pointed out, AI alone cannot drive prosperity unless properly deployed. “As we integrate AI into our businesses and lives, we are reminded of the need to wield it ethically, inclusively, and with human-centered design at the forefront,” he said.
The last major theme of the conference was gender inclusion in driving progress. “We must commit to creating ecosystems where women and underrepresented groups are not just included but celebrated as leaders and changemakers,” Dr. Goncalves said.
Dr. Goncalves then quoted the words of pioneering entrepreneur and activist Anita Roddick, who once said, “If you think you’re too small to have an impact, try going to bed with a mosquito in the room.”
To conclude the Symposium, Dr. Goncalves issued a vital reminder, saying, “Each of us here, no matter the scale of our work, holds the potential to drive change. Let us leave today inspired to create businesses and technologies that are sustainable, inclusive, and visionary.”