Every year we wait to see which startups—and which schools—will find their way onto Poets & Quants’ list of Top MBA Startups, ranked by venture capital-backed funding. Only ventures launched within the past five years (2012-2016), by founders who graduated within those five years, qualify. This year’s big winner is Deliveroo, founded by Will Shu WG’12, with $474.59 million.
Not only did Deliveroo snag the number one spot, but it did so by a big margin. The second-ranked startup has a funding total of $230.5 million, which is less than Deliveroo’s Series E funding round of $275 million from last spring.
We’re especially proud because Deliveroo truly got its start right here at Wharton, in MGMT 806: Venture Implementation, taught by Patrick Fitzgerald, Lecturer at the Wharton School and Vice President of Entrepreneurship & Innovation at the Children’s Hospital of Philadelphia. The course provides MBA and other Penn students the opportunity to work closely with a faculty member on developing their venture concepts while also receiving academic credit.
We asked Patrick to tell us a little about MGMT 806, and his memories of Will in the class:
What is MGMT 806 and who is it for?
MGMT 806 is for students who are intensely serious about launching and building upon their startup over the next months. It is industry agnostic but specifically designed for students who are likely to enter the entrepreneurial arena.
How did Will Shu use MGMT 806 to develop Deliveroo?
Will used 806 to help vet the concept for Deliveroo. He put together a roadmap and MVP concept to test his theory that Deliveroo could be a reality upon graduation. He was able to pitch his idea to venture capitalists, angel investors, and fellow students.
What are the biggest takeaways for students from 806?
The biggest takeaways for students are that entrepreneurship is extremely challenging, rewarding, and self-motivating. While we build business plans throughout 806, they are nothing without execution.
What do you remember about Will as a student entrepreneur?
Will was daring, curious, extremely pragmatic—but willing to take a new look at things.
What did you think of Deliveroo as a venture?
Deliveroo is the perfect blend of finding a sizable hole in a marketplace and using existing infrastructure to explore the possibility of a product/market fit. Having been there at the beginning, I am always thrilled to hear worldwide customers rave about Deliveroo!