Case Study: Chicago Booth

About Chicago Booth Experiment

In the winter of 2017, as part of the University of Chicago Booth School of Business’ New
Venture and Small Enterprise Lab class, a group of Booth students partnered with Proxfinity on
a project to evaluate the efficacy of the Proxfinity device. Specifically, the students worked to do
three things:

1. Conduct a randomized control trial experiment to determine the Proxfinity device’s effect
on increasing conversations and generating new connections at networking events;
2. Gather ethnographic research data to evaluate the effects of Proxfinity use at networking
events; and
3. Conduct industry and academic research to determine if Proxfinity device use could
enhance companies’ bottom lines.

The Booth team included seven University of Chicago students, including six Booth students
and one pursuing her Ph.D. in cultural psychology and human development. The team had a
wide range of backgrounds, including banking, finance, consulting, data analytics, politics,
government, and even rocket science.

Over the course of the semester, the team hosted or participated in four events. Two of those
events used the randomized control trial method to quantify and evaluate the effects of
Proxfinity device use. All four events included ethnographic research gathering.

Results, Proxfinity Performance

Based on the randomized control trial and ethnographic research, we believe that by increasing the number of conversations conducted in a networking event and increasing the number of new connections made at networking events, the Proxfinity device works.

In two events we ran with a control group (no Proxfinity device) and a trial group (using Proxfinity device), we saw distinct differences. On average, Proxfinity device usage increased the number of people individuals spoke with by 50%. Additionally, on average, Proxfinity device usage increased the number of new connections people made by over 300%.

In addition to quantitative research findings, qualitative research also indicated that Proxfinity device use can yield benefits for event goers. In post-event surveys, participants reported that Proxfinity device usage:

● Reduced networking anxiety;
● Gave people the courage to initiate conversations; and
● Made it easier for people to depart conversations.

Ethnographic researchers supported these conclusions. The majority of event participants agreed that Proxfinity device use made networking events more fun, reduced levels of fear and anxiety inherent in networking events, and provides the nudge you need to start a conversation with someone new.

Implications

There is a wealth of industry and academic research suggesting that (1) networking events are largely ineffective at enabling people to make new connections and (2) employee disengagement is a significant threat to companies’ bottom lines.

 We believe that well executed intra-company networking events can be effective drivers of employee engagement and leadership instigation, and thus can help improve corporate retention and performance. We believe the Proxfinity device works in increasing the quantity of interactions at networking events, and the likelihood that those interactions will include two people meeting for the first time.

 Given the fact that these networking events can be drivers of employee engagement, and employee engagement is an important factor in companies’ bottom lines, we think that Proxfinity can bring real value to companies in a wide range of sectors.