MIT launches initiatives in innovation and India
MIT has launched a group that will act as a liaison between MIT researchers and venture capitalists around the world. The International Innovation Initiative (I³), which MIT president Susan Hockfield announced at a conference in New Delhi, India, will be modeled on the school’s Deshpande Center for Technological Innovation
Since 2002, The Deshpande Center has funded 64 projects with over $7 M in grants. 11 projects have spun out of the center into commercial ventures, having collectively raised over $88 M in outside financing. Twelve venture capital firms have invested in these ventures. The Center supports a wide range of emerging technologies including biotechnology, biomedical devices, information technology, new materials, tiny tech, and energy innovations.
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