2. VentureWell Lemelson-MIT Program
Janet Daisley Vice President, Programs Rachel Agoglia Grants Manager
Lemelson-MIT Program
Janet starts
Let me introduce our VentureWell team – myself and Rachel. As many of you know a number of VW programs are funded by the TLF and we also have with us today, Marlena Love who will speak about another TLF funded program supporting student innovation.
Marlena Love
Awards Program Officer

3. Panelists Mary Raber Christine Kurihara Penny Herscovitch
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
Here to share their stories from an outside perspective we’re thrilled to welcome Mary, Christine, and Penny…
Let me provide you with an overview of our program for today:
I will review VW’s overall program portfolio briefly
Rachel will go deeper on describing our grants and competitions and ultimately how to be successful in applying
We’ll then turn to our panel for some insights and hear their stories related to the different programs and grants they’ve been involved with
We’ll leave plenty of time for your questions.

4. VentureWell Grants & Resources
Before we get started, I’d like to take an informal poll of the audience.
Who has been to OPEN before?
How many of you have participated in any of our VW programs?
How many of you have applied for a grant?
How many have received a grant?

5. Our Core Work: Students
VentureWell focuses on cultivating and investing in the next generation of entrepreneurs.
Today we’ll touch on programs that support student involvement in I and E – particularly our UIF program funded through Epicenter – a partnership VentureWell is involved in with Stanford
And, our E-team program and BME competitions which Rachel, Penny, and Christine will discuss later in the program

6. Our Core Work: Faculty
VentureWell engages faculty in training, course development, and institutional change related to technology innovation.
Our programs also focus on I and E institutional change at the university level – particularly programs such as Pathways to Innovation that we’ve developed in partnership with Epicenter – an NSF-funded partnership with Stanford. Mary will talk more about Pathways later in the program.
And, other efforts such as our I-Corps network, Lean Launch Pad course for educators, and Rachel, Mary, Christine and Penny will share information about our Faculty Grants program that we offer to faculty.

7. Our Core Work: Networks
VentureWell supports the establishment and growth of communities of practice in entrepreneurship and innovation.
Another focus of our work is convening opportunities for our partners that have cross-cutting impact – bringing together a variety of stakeholder communities – global partners, university, students, research and the social impact and early stage venture development community and other funders – to focus on the innovation process.

8. More Info: venturewell.org
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 .
Another lens to look through with our work is to think about how we support the different programs we administer – from programs that provide funding (review those) to the programs we administer that serve networks.
Briefly touches on descriptions
Refer to VW website
Before Rachel goes in to more detail on our grants programs, I’d like to turn to Marlena Love to share some information on the Lemelson MIT Program. Marlena Love serves as the Awards Program Officer for the Lemelson-MIT Program, a non-profit STEM initiative funded by the Lemelson Foundation and housed in MIT’’s School of Engineering. Love oversees the National Collegiate Student Prize Competition, a multi-round competition celebrating promising undergraduate and graduate collegiate inventors from across the country. The competition is entering its second year after existing in a previous iteration as a campus-based prize and currently offers prizes for inventions in health care and consumer devices. The Lemelson-MIT Program celebrates outstanding inventors and inspires young people to pursue creative lives and careers through invention.
More Info: venturewell.org

9. The Lemelson-MIT Program
VentureWell Open
March 21, 2015
Marlena Love, Awards Program Officer

10. National Collegiate Student Prize
Lemelson-MIT Program
Lemelson-MIT Prize
InvenTeams
JV InvenTeams
National Collegiate Student Prize
Invention Education
EurekaFest

12. 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
Focus on LMP noms and SP recs for VentureWell Open audience.
LMP winners celebrated at MIT Technology Review’s EmTech Conference each fall.
SP focus on invention comp, prototype necessary – not an idea comp, pitch, or bus plan.
lemelson.mit.edu

13. Grants & Competitions
VentureWell awards 1.4 million dollars in funding annually to students and faculty
RA: Introduce yourself
Grants manager at Vwell
I fell into the world of tech eship when I began working at VentureWell in Before that, I was involved in the nonprofit sector, working in education reform, hunger and homelessness, and nonprofit management consulting.
Once at VentureWell I learned quickly about the impact technology innovation and ehsip can play in improving lives - I continue to be inspired by the amazing work the students and faculty we support are doing. In my role, I have the privilege of overseeing the intake, review, and decision-making process for venturewell’s grants programs and competitions. I’ve red hundreds of proposals and talked to many students and faculty about their submissions.
My hope for today is to share w/ you some perspective on the key criteria of our grants programs and how to craft a successful proposal. In addition to talking about what TO do, I’ll also cover what NOT to do, and then Mary, Christine, and Penny will share some of their insights and experiences.
Diving in….VentureWell awards 1.4 million dollars in funding annually to students and to faculty. We do this through our BME competitions, our E-Team Program, and our faculty grants program.
These programs are a core part of fostering Innovation and Eship activities at the institutional level. While the dollar amounts of our grants are small in comparison to some other funders, we’ve heard time and time again from students and faculty grantees that the early stage validation and support venturewell provides was critical for them in leveraging additional money and sustaining their work.

14. We’ll start with our 2 biomeidcal engineering competitions, BMEidea and BMEStart Both recognize innovative biomedical engineering design with high commercial potential and social impact.
Strong competition entries describe a new health-related technology that is technically feasible and addresses a real clinical need.
BMEStart is open to undergraduate student teams only, while BMEidea is open to both graduage and undergraduate teams.
In addition to the prize $$ of up to $10K, winning teams are automatically considered for our E-Team program, which we’ll talk about next
Upcoming deadlines are in April and May

15. Next Deadline: May 8 Next application deadline: May 8, 2015
VentureWell’s E-Team Program provides early-stage funding and training to help students move their technology innovations out of the classroom or the lab and into the marketplace.
The program consists of 3 “stages,” and is a combination of grant funding, training, and coaching.
Stage 3 culminates in an intensive training focused on venture development and investibility. VentureWell invests in a small percentage of teams coming out of this last stage.
There are 3 application opportunities each academic year, and our next deadline is coming up on May 8th
Next application deadline: May 8, 2015

16. Successful Proposals E-Team Program
Technical feasibility & commercial potential
Technology solution to real-world problem
Well balanced, passionate team
There are Lots of details in the program guidelines on our website, but I’ve highlighted some of the E-Team program’s core criteria here
Basically, Strong proposals demonstrate the development of innovations that are:
Technically feasible
scalable/commercially promising,
Have a positive impact on society and/or the environment; and
Are being driven by a strong team – and by that I mean a team that’s committed to bringing their technology to the marketplace and have a balance of both technical and business expertise. .teams can consist of graduate and/or undergraduate students as well as faculty, advisors, and mentors with relevant industry experience and connections.  
students should serve as the entrepreneurial leaders of a team, regardless of the origin of the idea or invention

17. OPEN MINDS 6:30PM National Museum of American History
MEET some E-Teams Saturday night!
During open minds our teams will showcase their technologies, in some cases for the first time
**12 VentureWell teams, including a team from Art Center that Penny will give us a sneak peek of in a moment
**1 InvenTeam from LemelsonMIT Program

18. Faculty Grants support the creation of new courses or programs focused on invention, innovation, and technology entrepreneurship.
A small percentage of of these grant awards support the development of innovations that specifically address poverty alleviation and basic human needs – these are our Sustainable Vision faculty grants. Penny and christine will talk more about these awards in a little while.
Next application deadline is May 8

19. 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/demonstrated institutional support
Again, lots of details on our website in the program guidelines, but here are some of the core criteria
The more SPECIFIC, CLEAR and COMPELLING your proposal is, the more competitive your proposal will be. Typically, proposals have a 15-20% chance of getting funded.  Successful faculty grant proposals include these elements:
1) A focus on technology entrepreneurship, and experiential learning by doing, and creative pedagogical approaches to solving real world problems.
2) The formation of student teams focused on technology invention, innovation and entrepreneurship with a positive social/environmental impact.
3) An entrepreneurial ecosystem to support the most promising student teams interested in pursuing commercialization beyond the proposed course/program.
4) A plan for continuation (and financial sustainability) of the course or program post VentureWell funding.
Although not required, VentureWell welcomes ideas that include interdisciplinary and multidisciplinary learning.

20. Key Criteria Technology Innovation Entrepreneurship Social Impact
green 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
I know I’ve given you a lot of information – this slide summarizes again some key criteria that apply to all the programs I’ve just discussed.
1) VentureWell grants programs seek to fund and support student and faculty technology innovation and entrepreneurship that have a positive social impact.
2) In addition to technical feasibility, we want to support technologies with commercial potential that will have a positive impact on people and/or the planet.
3) lastly, we look for evidence that the team behind the proposal is the right group of people to drive the project forward and that students are a core part of what is proposed.
All grant proposals and competition entries are reviewed externally– we have a committed group of individuals from academia, industry, and the investment world who volunteer their time to contribute to our process. Mary and Christine have served as reviewers, and we really couldn’t run these programs without their involvement.
Our team strives to be as responsive as possible to inquiries – we make ourselves available read abstracts and make suggestions. You may also know that our programs are competitive- you don’t always get funded your first try - when applicants are rejected we do our best to provide reviewer feedback so that proposals can be strengthened in the future.
if you have an idea for a faculty grant proposal or you have a team you think would be a good fit for our E-Team Program, I encourage you to get in touch with us.

21. Top Reasons for Rejection
No entrepreneurship (too research-focused, no path to commercialization/project(s) begin and end in the classroom)
No tech innovation (not convinced it’s new)
Too faculty-driven (too little student involvement or ownership opportunity)
And finally, because its sometimes easier to absorb what NOT to do, I thought I’d share a list of the top 10 reasons that proposals DON’T get funded.
we receive a lot of proposals that describe a really great course or program that may expose students to some great experiences, but just end with the course/a final project. OR a student team will apply for the E-Team project but what they describe is really a class project and there’s no intention to bring the product or service to market.
Sometime we get proposals that have little or no tech innovation included – there may be an element of eship…but no new technology.
Sometimes there’s too little student involvement in a proposal – in the case of a ET grant, that might be that students are just assisting w/ research, etc. and won’t have any opportunity to play a significant role in a resulting venture or have any ownership over any resulting IP.

22. Top Reasons for Rejection
No clearly defined social impact
Lack of expertise on the team/no relevant advisors and/or partners
Unclear proposal (“ask” isn’t compelling, no budget justification, too much jargon, sloppy)
4) Sometimes the technologies proposed don’t demonstrate a significant enough social impact
5) Team not strong
6) Unclear – isn’t compelling, no budget justification, etc.

23. Top Reasons for Rejection
Not sustainable
Not scalable
No resulting E-Teams (for faculty grants)
No connection to existing resources on campus (for faculty grants)
7) Sometimes reviewers aren’t convinced that a course or program will be sustained beyond the proposed grant period/not enough institutional support

24. Panel Stories Mary Raber
Associate Director, Michigan Technological University
Now I’m going to turn to our panelists who can breathe some life into what I’ve just covered.
Mary Raber is the associate director of the Institute for Leadership and Innovation at Michigan Tech. Mary leads many of the Institute programs and has extensive experience in corporate leadership. She received her BS in Mechanical Engineering from the University of Michigan and an MBA from Wayne State University and is currently working on her PhD at Michigan Technological University.
Before joining Michigan tech, she held various engineering and management positions during a fourteen-year career in the automotive industry.

25. +

26. Pathways to Innovation University Innovation Fellows
Epicenter
Pathways to Innovation
University Innovation Fellows
Faculty Grants
E-Teams
Review Panels, Conferences & Networking

27. Grants & REsources

28. Panel Stories Christine Kurihara
Senior Associate Director, Global and Communication, Stanford Biodesign Program
 Christine Kurihara is the Sr. Associate Director for Global and Communication for the Biodesign Program at Stanford University. She is responsible for supporting the various global activities and all communication and IT projects in the program. In this capacity she serves as managing editor for ebiodesign.org, the companion website to the Biodesign textbook.
She was instrumental in helping launch the Stanford-India Biodesign initiative as well as a similar program in Singapore. Prior to joining Biodesign, Christine was director of web development for Stanford University Media Solutions, a university-based media services organization.

29. Developing Leaders in Biomedical Technology Innovation
BIODESIGN PROGRAM
Developing Leaders in Biomedical Technology Innovation

30. 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

31. BIODESIGN PROCESS

32. BIODESIGN INNOVATION FELLOWSHIP

33. BIODESIGN INNOVATION COURSE
Real World Experts

34. COMPANIES FROM TRAINEES
16 VentureWell Funded
Lymph/Axis
Lymph/Axis
CAYDIAN
Over the 14 years of the program these are the companies with “real” funding – mostly venture capital. A few have been acquired already. Several have FDA approved devices; quite a few more are approved in Europe.

35. TRANSLATION METRICS As of end 2014: 37 companies started
over 325,000 patients treated
>600 new jobs created
$324M raised by companies

36. STANFORD-INDIA BIODESIGN

37. 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

38. SIB PROJECTS

39. GLOBAL COMPANIES BRÜN BRÜN BRÜN PRIVI
These represent the global companies that have formed from the SIB and SSB program since 2008

40. Associate Professor, Art Center College of Design
Panel Stories
Penny Herscovitch
Associate Professor, Art Center College of Design
 Penny Herscovitch is currently an associate professor at Art Center College of Design in Pasadena, CA.  She is also a Los Angeles-based designer and design educator. She co-leads the design studio, Padlab, whose work encompasses materials research & innovation, illumination and spatial installation design.
Penny has lectured and taught internationally, and her work has been published extensively.  Penny conducts research and writes for renowned institutions and firms, including Morphosis Architects. In 2003, Penny received her B.A. in Architecture from Yale University.
She has co-lead international educational collaborations, including: Pacific Rim Projects in Tokyo, Japan with Tama Art University; and the Safe Agua project, initiated in 2009 between Art Center’s Designmatters and the Innovation Center of N.G.O. TECHO to design innovative water solutions for Latin American communities with no running water.

41. More Information Epicenter - Pathways to Innovation
Liz Nilsen, Senior Program Officer:
University Innovation Fellows
Humera Fasihuddin, Senior Program Officer:
E-Team Program/BME Competitions
Dorn Carranza, Senior Program Manager
abstracts/schedule a time to talk:
Faculty Grants
Jennifer Keller Jackson, Senior Program Officer
abstracts/schedule a time to talk: