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: marlenam@mit.edu 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: lnilsen@venturewell.org

University Innovation FellowsHumera Fasihuddin, Senior Program Officer:

humera@venturewell.org

E-Team Program/BME CompetitionsDorn Carranza, Senior Program Manager

Email abstracts/schedule a time to talk: eteams@venturewell.org

Faculty GrantsJennifer Keller Jackson, Senior Program Officer

Email abstracts/schedule a time to talk: facultygrants@venturewell.org