MIT launches new venture for world-changing entrepreneurs • Hacker News Board

Re: MIT launches new venture for world-changing entrepreneurs

#11

Post by eob » Thu, Oct 27, 2016, 3:22 AM UTC

neom wrote: post #10

Is this filling a void in the current venture space...?

Beyond serving hard tech with longer time-to-market requirements, there is a huge opportunity for brain-rich cities like Boston to build out a more robust startup ecosystem to compete with SF. People in Cambridge joke about the one-way plane tickets to the Bay Area. If you're anchored in Cambridge, that means huge spoils for the group that figures out the equation to keep them there.

Re: MIT launches new venture for world-changing entrepreneurs

#12

Post by [deleted] » Thu, Oct 27, 2016, 3:22 AM UTC

neom wrote: post #10

Is this filling a void in the current venture space...?

[deleted]

Re: MIT launches new venture for world-changing entrepreneurs

#13

Post by mblode » Thu, Oct 27, 2016, 4:15 AM UTC

ftrflyr wrote: post #9

This sounds similar to The Impact Engine out of Chicago. My company was part of the first cohort back in 2012. Feel free to AMA about this space - I have learnings to unload if interested.

Could you maybe just unload your learnings? I'd love to hear your findings.

Re: MIT launches new venture for world-changing entrepreneurs

#14

Post by toufka » Thu, Oct 27, 2016, 4:32 AM UTC

icinnamon wrote: post #2

Does anyone know if something similar exists at other universities (specifically curious about Stanford)?

The UC system has a biotech incubator, QB3.

http://qb3.org/about

Re: MIT launches new venture for world-changing entrepreneurs

#15

Post by gsjbjt » Thu, Oct 27, 2016, 4:33 AM UTC

icinnamon wrote: post #2

Does anyone know if something similar exists at other universities (specifically curious about Stanford)?

The difference between this and most other incubators (at Stanford, Harvard iLab, etc as mentioned below) is that it's very specifically geared towards hard-tech startups that other investors typically shy away from because of the long time to market.

Re: MIT launches new venture for world-changing entrepreneurs

#16

Post by devarshar » Thu, Oct 27, 2016, 5:07 AM UTC

icinnamon wrote: post #2

Does anyone know if something similar exists at other universities (specifically curious about Stanford)?

University of Illinois at Urbana-Champaign has iVenture Accelerator program. They have plenty have resources and offers financial support ($2500 per fellow and $10k per startup) and co-working space in the UIUC Research Park.

They don't care if its hard-tech or not. Your company has to be good enough to qualify for their program.

https://business.illinois.edu/iventureaccelerator/

Re: MIT launches new venture for world-changing entrepreneurs

#17

Post by seb_lounis » Thu, Oct 27, 2016, 5:17 AM UTC

Very exciting news from MIT. Anyone interested in this thread should also check out Cyclotron Road at Lawrence Berkeley National Lab. It's a two-year fellowship and incubator specifically geared toward hard-tech innovators working on energy technologies. Applications for the next cohort are open until Oct. 31 - cyclotronroad.org/apply

Re: MIT launches new venture for world-changing entrepreneurs

#18

Post by seb_lounis » Thu, Oct 27, 2016, 5:19 AM UTC

icinnamon wrote: post #2

Does anyone know if something similar exists at other universities (specifically curious about Stanford)?

Check out Cyclotron Road at Lawrence Berkeley National Lab - similar mission to support hard tech innovators. Applications open until midnight on Monday, October 31 cyclotronroad.org/apply

Re: MIT launches new venture for world-changing entrepreneurs

#19

Post by zbjornson » Thu, Oct 27, 2016, 6:22 AM UTC

infocollector wrote: post #5

Does anyone know what MIT wants out of the funds it invests? Also, what rights does its faculty have on their inventions? Same question for entrepreneurs who work with MIT?

From their FAQ:

"The Engine will demand less equity in startups than is typical, allowing founders to maintain more control over their companies."

http://www.engine.xyz/about#faq

Re: MIT launches new venture for world-changing entrepreneurs

#20

Post by icinnamon » Thu, Oct 27, 2016, 6:33 AM UTC

gsjbjt wrote: post #15

icinnamon wrote: post #2

Does anyone know if something similar exists at other universities (specifically curious about Stanford)?

The difference between this and most other incubators (at Stanford, Harvard iLab, etc as mentioned below) is that it's very specifically geared towards hard-tech startups that other investors typically shy away from because of the long time to market.

Precisely. I'm asking if other hard-tech incubators exist at Stanford (and others)...