Take one creative scientist-turned-entrepreneur hawking a hot new technology. Sit him next to a venture capitalist hungry for investment opportunities. And, just to mix things up a bit, toss in a corporate executive on the prowl for a new product to bring to market. What have you got? All the ingredients for a potent dish of startup success, says John T. Preston, director of technology licensing for MIT
Preston should know. A recent study identified 404 MIT alumni-founded companies in Massachusetts.. Together, they employ more than 160,000 people and have annual revenues in excess of $27 billion. That’s one-fifth of the state’s gross product, notes Preston.
To keep the startup pot boiling, MIT hosted a Technology Transfer Conferences Inc. meeting last month designed to promote investments in—and partnering relationships with—young companies. Ten venture capital groups and 21 potential corporate partners showed up to watch 22 high-tech startups strut their stuff.
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