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MIT Launches $15 Million Research Grant Program

November 15, 2002
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In an era of tight public budgets, sources of seed funding for early stage and developmental research projects with potential for commercialization is getting harder to come by. Many state initiatives to support these endeavors are subject to the same budget cuts as other areas, and small firms' interests in the federal Small Business Innovation Research (SBIR) program are increasing pressure for these already competitive grants.

Using at least $15 million of a $20 million gift from the co-founder and chairman of Sycamore Networks, the Massachusetts Institute of Technology (MIT) has taken matters into its own hands for its faculity and students by launching Ignition and Innovation Program Grants through the new Deshpande Center for Technological Innovation. The $15 million is expected to be allocated to dozens of different projects over a five-year period.

The center recently announced nine awards to receive the first $1.25 million from the Ignition and Innovation Program Grants. Ignition grants provide seed funding of up to $50,000. Targeting risky, unprecedented technological advancements that would have broad implications if proven successful, Ignition grants are awarded to help catapult ideas into research and are awarded to benefit projects in the early, more conceptual stages of development.

Innovation grants provide funding up to $250,000 and are designed to benefit projects that have moved beyond the conceptual stage. These grants support research on new technologies that have the potential to yield new businesses or products.

In addition to receiving research funding, grant recipients are introduced to a host of entrepreneurial and business resources inside and outside of MIT, including venture capitalists, local business resources, MIT Technology Licensing Office, MIT Venture Mentoring Service, partnerships with MIT Sloan School of Management Courses, MIT Entrepreneurship Center, MIT $50K Entrepreneurship Competition, MIT Industrial Liaison Program, MIT Sloan School of Management, and MIT Enterprise Forum®.

The Deshpande Center, part of the MIT School of Engineering, was established in January 2002. More information is available at: http://web.mit.edu/deshpandecenter/

Massachusetts