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VentureWellJanet DaisleyVice President, Programs
Rachel AgogliaGrants Manager
Lemelson-MIT Program
Marlena LoveAwards Program Officer
PanelistsMary RaberAssociate Director, Michigan Technological University
Christine KuriharaSenior Associate Director, Global and Communication, Stanford Biodesign Program
Penny HerscovitchAssociate Professor, Art Center College of Design
VentureWell Grants & Resources
Our Core Work: Students
VentureWell focuses on
cultivating and investing in the next generation
of entrepreneurs.
Our Core Work: FacultyVentureWell
engages faculty in training,
course development,
and institutional change related to technology
innovation.
Our Core Work: Networks
VentureWell supports the
establishment and growth of communities of
practice in entrepreneurshi
p and innovation.
Our Program Portfolio.Funding & Training Serving Networks
E-Team Program & Faculty grants Epicenter University Innovation Fellows Pathways to Innovation
Biomedical Competitions I-Corps National Innovation Network
Lean LaunchPad Educators Seminar
OPEN, VentureWell’s Annual Conference
I-Corps National Course
Global Xcelerator Training Program More Info: venturewell.org
The Lemelson-MIT Program
VentureWell Open
March 21, 2015
Marlena Love, Awards Program Officer
email: [email protected] twitter: @marlenalove
Lemelson-MIT Program
InvenTeams
National Collegiate Student Prize EurekaFest
JV InvenTeamsLemelson-MIT
Prize
Invention Education
Lemelson-MIT Program Initiatives
Awards• $500,000 Lemelson-MIT Prize: recognition for mid-career inventor/entrepreneurs
• 2016 Nomination cycle closes in November• National Collegiate Student Prize Competition: recognition for the most inventive
graduate students and undergraduate teams• Evolution of 20 year prize program at MIT• “Cure it!”, “Use it!”, “Drive it!”, “Eat it!”• $15K for graduate winners and $10K for undergraduate teams• 2016 Interest Form now open
• National media campaigns around award winners
K-12• InvenTeams: grants of up to $10K for high school teams• JV InvenTeams: hands-on activities for 9th +10th graders in low-resource schools • Professional development for educators• EurekaFest event at MIT to bring K-12 and collegiate inventors together
lemelson.mit.edu
Grants & Competitions
VentureWell awards 1.4 million dollars in funding annually to students and faculty
Next Deadline: May 8
Next application deadline: May 8, 2015
Successful Proposals
E-Team Program
Technical feasibility & commercial potential
Technology solution to real-world problem
Well balanced, passionate team
OPEN MINDS
6:30PM
National Museum of American History
Successful Proposals
Faculty Grants
Focus on technology solutions for real-world problems
E-Teams result (students continue work beyond the
course/program)Sustainable beyond
the grant period/demonstrate
d institutional support
Technology Innovationgreen materials, cleantech, medical devices, technologies for emerging markets, mobile & web-based technologies, etc.
Entrepreneurship**Out of the classroom/out of the lab**Commercial potential **Meaningful student involvement
Social Impact**Solves real-world problem(s)**Improves people’s lives**Positive environmental impact
Dedicated Team **The right team with the relevant expertise**Demonstrated commitment & sustainability
Key Criteria
Top Reasons for Rejection1. No entrepreneurship (too research-
focused, no path to commercialization/project(s) begin and end in the classroom)
2. No tech innovation (not convinced it’s new)
3. Too faculty-driven (too little student involvement or ownership opportunity)
Top Reasons for Rejection
4. No clearly defined social impact
5. Lack of expertise on the team/no relevant advisors and/or partners
6. Unclear proposal (“ask” isn’t compelling, no budget justification, too much jargon, sloppy)
Top Reasons for Rejection7. Not sustainable
8. Not scalable
9. No resulting E-Teams (for faculty grants)
10. No connection to existing resources on campus (for faculty grants)
Panel Stories
Mary RaberAssociate Director, Michigan Technological University
+
Epicenter Pathways to Innovation
EpicenterUniversity
Innovation Fellows
Faculty GrantsE-Teams
Review Panels, Conferences &
Networking
GR
AN
TS
& R
ES
OU
RC
ES
Panel Stories
Christine KuriharaSenior Associate Director, Global and
Communication, Stanford Biodesign Program
BIODESIGN PROGRAMDeveloping Leaders in Biomedical Technology Innovation
VENTUREWELL IMPACT
• Program GrantTo start the Biodesign Program
• Sustainable Vision GrantTo build India Program curriculum
• E-Team GrantsAt least 16 companies
• Numerous ConferencesTo learn from and share with others
BIODESIGN PROCESS
BIODESIGN INNOVATION FELLOWSHIP
BIODESIGN INNOVATION COURSE
Real World Experts
CAYDIANCAYDIAN
Lymph/AxisLymph/Axis
COMPANIES FROM TRAINEES16 VentureWell Funded
As of end 2014:
• 37 companies started
• over 325,000 patients treated
• >600 new jobs created
• $324M raised by companies
TRANSLATION METRICS
STANFORD-INDIA BIODESIGN
SIB PROJECTS
Consure Fecal Incontinence management
IntraOz Intraosseous access device
Relligo Low-cost lower limb splint
Sohum Infant hearing defect screening device
Neobreathe Neonatal resuscitation device
Variseal Management of upper GI bleed
BioscoopLow-cost, safer liver biopsies
ParasafeAccess of paracentesis
Noxeno Removal of impacted foreign bodies
Brun Low-cost fetal monitor
SIB PROJECTS
GLOBAL COMPANIES
BRÜNBRÜN
BRÜNPRIVI
Panel Stories
Penny HerscovitchAssociate Professor, Art Center College of Design
More InformationEpicenter - Pathways to Innovation
Liz Nilsen, Senior Program Officer: [email protected]
University Innovation FellowsHumera Fasihuddin, Senior Program Officer:
E-Team Program/BME CompetitionsDorn Carranza, Senior Program Manager
Email abstracts/schedule a time to talk: [email protected]
Faculty GrantsJennifer Keller Jackson, Senior Program Officer
Email abstracts/schedule a time to talk: [email protected]