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VentureWell
Janet Daisley
Vice President,
Programs
Rachel Agoglia
Grants Manager
Lemelson-MIT
Program
Marlena Love
Awards Program Officer
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Panelists
Mary Raber
Associate Director, Michigan Technological University
Christine Kurihara
Senior Associate Director, Global and Communication,
Stanford Biodesign Program
Penny Herscovitch
Associate Professor, Art Center College of Design
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VentureWell
Grants & Resources
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Our Core Work: Students
VentureWell
focuses on
cultivating and
investing in the next
generation of
entrepreneurs.
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Our Core Work: Faculty
VentureWell
engages faculty in
training, course
development, and
institutional change
related to
technology
innovation.
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Our Core Work: Networks
VentureWell
supports the
establishment and
growth of
communities of
practice in
entrepreneurship
and innovation.
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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
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The Lemelson-MIT Program
VentureWell Open
March 21, 2015
Marlena Love, Awards Program Officer
email: marlenam@mit.edu twitter: @marlenalove
Lemelson-MIT Program
Lemelson-MIT
Prize
InvenTeams
JV InvenTeams
National Collegiate
Student Prize
Invention
Education
EurekaFest
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
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Next Deadline: May 8
Next application deadline: May 8,
2015
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Successful Proposals
Technical
feasibility &
commercial
potential
Technology
solution to
real-world
problem
Well balanced,
passionate team
E-Team
Program
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OPEN MINDS
6:30PM
National
Museum of
American
History
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Successful Proposals
E-Teams result (students
continue work beyond the
course/program)
Sustainable beyond
the grant
period/demonstrated
institutional support
Focus on technology
solutions for realworld problems
Faculty
Grants
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Key Criteria
Technology Innovation
Entrepreneurship
green materials, cleantech, medical
devices, technologies for emerging
markets, mobile & web-based
technologies, etc.
**Out of the classroom/out of the lab
Social Impact
Dedicated Team
**Solves real-world problem(s)
**The right team with the relevant
expertise
**Improves people’s lives
**Positive environmental impact
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**Commercial potential
**Meaningful student involvement
**Demonstrated commitment &
sustainability
Top Reasons for Rejection
1. 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)
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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)
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Top Reasons for Rejection
7. Not sustainable
7. Not scalable
8. No resulting E-Teams (for faculty grants)
9. No connection to existing resources on
campus (for faculty grants)
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Panel Stories
Mary Raber
Associate Director, Michigan Technological University
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+
Epicenter
Pathways to Innovation
Faculty Grants
E-Teams
Epicenter
University Innovation
Fellows
Review Panels,
Conferences &
Networking
GRANTS & RESOURCES
Panel Stories
Christine Kurihara
Senior Associate Director, Global and Communication,
Stanford Biodesign Program
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BIODESIGN PROGRAM
Developing Leaders in Biomedical Technology Innovation
VENTUREWELL IMPACT
• Program Grant
To start the Biodesign Program
• Sustainable Vision Grant
To build India Program curriculum
• E-Team Grants
At least 16 companies
• Numerous Conferences
To learn from and share with others
BIODESIGN PROCESS
BIODESIGN INNOVATION FELLOWSHIP
BIODESIGN INNOVATION COURSE
Real World Experts
COMPANIES FROM TRAINEES
16 VentureWell Funded
Lymph/Axis
Lymph/Axis
CAYDIAN
CAYDIAN
TRANSLATION METRICS
As of end 2014:
• 37 companies started
• over 325,000 patients treated
• >600 new jobs created
• $324M raised by companies
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
Bioscoop
Low-cost, safer liver biopsies
Parasafe
Access of paracentesis
Noxeno
Removal of impacted foreign bodies
Brun
Low-cost fetal monitor
SIB PROJECTS
GLOBAL COMPANIES
BRÜN
BRÜN
BRÜN
PRIVI
Panel Stories
Penny Herscovitch
Associate Professor, Art Center College of Design
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More Information
Epicenter - Pathways to Innovation
Liz Nilsen, Senior Program Officer: lnilsen@venturewell.org
University Innovation Fellows
Humera Fasihuddin, Senior Program Officer: humera@venturewell.org
E-Team Program/BME Competitions
Dorn Carranza, Senior Program Manager
Email abstracts/schedule a time to talk: eteams@venturewell.org
Faculty Grants
Jennifer Keller Jackson, Senior Program Officer
Email abstracts/schedule a time to talk: facultygrants@venturewell.org
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