Copyright 2002-2005 Deshpande Center for Technological Innovation, Massachusetts Institute of Technology
MIT Innovation Ecosystem: Accelerating Technology Commercialization from University Laboratories
Prof. Charles L. Cooney Faculty Director Leon Sandler Executive Director web.mit.edu/deshpandecenter
May 2, 2012
Evolution of an Idea
Ideas Emerge from Basic Research
Selection thru peer review – academic and business
Direction towards Market
NewCo Creation
University Research
ConnectionConnection to Markets to Markets and and FinancingFinancing
Copyright 2002-2005 Deshpande Center for Technological Innovation, Massachusetts Institute of Technology
3
Events
Catalyst (Mentoring)
Program
Academic Research Marketplace
Fed
eral
gran
ts
Co
rp
orate
S
po
nso
red
R
esearch
SB
IR
An
gel
In
vesti
ng
VC
Fu
nd
ing
Co
rp
orate
Lic
en
sin
g
Managing Risk While Closing the GAP
Grant Program
Innovation- Teams
(Education)
4
MIT’s Internal Ecosystem by Entrepreneurial Stage
Stage 1
Inspiration /
Invention /
Idea
Generation
Stage 2
Technology
Development /
Idea
Refinement
to Practice
Stage 3
Commercializa
tion Planning
Stage 4
Development
of Business
Plan
Stage 5
Real Company
Formation
(e.g. first
customer,
team, network)
Stage 6
Early Stage
Growth
Stage 7
High-Growth
• Basis for Commercialization: 45 years of growing research & insight into the entrepreneurial process
• Knowledge Base: Outstanding scientific and engineering research … & pioneering of new fields
• Underlying Foundation: 150 years of MIT’s “mens et manus” culture
Competitions
MIT Education
Lemelson
5
MIT’s Internal Ecosystem
MIT Hobby Shop
W31
Lemelson-MIT
Venture Mentoring Service
10
Deshpande Center for
Technological Innovation
Building 1 MIT Media Lab
E14
Koch Institute for
Integrative Cancer Research
76
Trust Center for MIT
Entrepreneurship
E40
Technology Licensing
Office (TLO)
NE18
Sloan: $100K,SBC,
VCPE, and many more I&E
student clubs
E40
D-Lab
E-34
Center for Materials
Science and Engineering
13
Microsystems
Technology Lab (MTL)
39
Institute for Soldier
Nanotechnologies
NE47 Lab for Manufacturing
and Productivity
Machine Shop
35
MIT Museum
SUTD IDC
N51
Legatum
Center
NE48
Edgerton
House
NW10
Entrepreneurship at MIT The primary growth of the MIT Entrepreneurial Ecosystem has occurred during the past 20 years. MIT Entrepreneurship Center (founded in 1990, now the Trust Center): Classes (with a consistent philosophy): From 1 to >30 in 20 years Clubs, including MIT $100K Business Plan Competition (began in 1990 as the $10K); thousands of student participants Conferences, and many forms of internal and external networking Past decade broadening and growth of MIT’s entrepreneurship institutions Venture Mentoring Service (2000) MIT Deshpande Center (2002) MIT Sloan Entrepreneurship & Innovation MBA Track (2006) Legatum Center for Development & Entrepreneurship (2007) Growth of Media Lab Entrepreneurship Subjects
MIT rivals any university in the world as the “Best in Practice”
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We Teach Entrepreneurship: “Mens et Manus” philosophy “Dual track” faculty: Theory and practice, academics and successful entrepreneurs & VCs; paired in classes whenever possible Integrate class enrollments across campus: i.e., management students with scientists and engineers; classes centrally located on campus whenever possible Heavy emphasis on real-world mixed-team projects Strongly encourage students to enter MIT $100K, Clean Energy, and several other business plan competitions
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Large Number of Entrepreneurship-Oriented Student Clubs Nearly ALL are housed in the Trust Center for MIT Entrepreneurship Interaction, visibility, mentoring, shared contact database, support staff: MIT $100K Business Plan Competition MIT Clean Energy Prize MIT Energy Club MIT Global Startup Workshop MIT Venture Capital/Private Equity Club MIT Entrepreneurship Review MIT Sloan Entrepreneurs for International Development MIT Sloan Healthcare Club Many more entrepreneurship clubs, both MIT-wide and MIT Sloan Staff plus Entrepreneurs-in-Residence help significantly 8
9
0
50
100
150
200
250
300
One Key Metric: MIT $100K # of Submissions by Year
