Piesiuent Baiack 0bama
The White Bouse
16uu Pennsylvania Avenue NW
Washington, BC 2uSuu

Bi. Lawience B. Summeis
Biiectoi, National Economic Council
Executive 0ffice of the Piesiuent
The White Bouse
16uu Pennsylvania Avenue, NW
Flooi, West Wing
Washington, BC 2uSuu

Bi. }ohn P. Boluien
Biiectoi, 0ffice of Science anu Technology Policy
Executive 0ffice of the Piesiuent
72S 17th Stieet NW, Room S228
Washington, BC 2uSu2

Submitteu Thiough: NEC_ueneialÇwho.eop.gov

Fiom: Susan Bockfielu
Piesiuent, Nassachusetts Institute of Technology (NIT)

Bate: Nay 26, 2u1u
"#$%&'()! *&'+,,&-./(0+-1! 2+-'&3-0-4! 2+,,&3'0/506/(0+-! +7! 8-09&310(:!
Beai Piesiuent 0bama, Bi. Summeis, anu Bi. Boluien:
I am wiiting in iesponse to the National Economic Council anu 0ffice of Science anu
Technology Policy's Naich 2S, 2u1u Request foi Infoimation (RFI) on
Commeicialization of 0niveisity Reseaich.

A passion foi innovation anu entiepieneuiship peivaues NIT's histoiy anu cultuie.
In 1861, the act of the Nassachusetts State Legislatuie that launcheu the Institute
chaigeu NIT with the "uevelopment anu piactical application of science in
connection with aits, agiicultuie, manufactuies, anu commeice." Even oui motto,
!"#$% "&% !'#($ ÷ minu anu hanu ÷ unueiscoies oui uistinctive commitment to
seiving society thiough the piactical fiuits of univeisity ieseaich.

0ui histoiy also teaches us, howevei, that ÷ without expeit guiuance anu suppoit
÷ the path fiom laboiatoiy uiscoveiy to woilu-ieauy piouuct can be long,
ciicuitous anu fiustiating. Biilliant scientists anu engineeis may know next to
nothing about piotecting theii intellectual piopeity oi staiting anu managing a
business; even bieakthiough technologies can languish without funuing at sufficient
scale oi a cleai vision of theii application. With its longstanuing focus on pioblem
solving anu its constiuctive ielationship with inuustiy, NIT has long instilleu in
stuuents anu faculty an entiepieneuiial attituue; in iecent uecaues, we have also
woikeu to pioviue the piactical tools anu auvice to help theii entiepieneuiial
ventuies succeeu. The iesult is an "Innovation Ecosystem" that helps goou iueas
tiaveise the "valley of ueath" to ieach the uistant heights of maiket success, anu it
has seiveu us so well that we believe it may seive as a useful mouel foi otheis.

Baseu in pait on NIT's expeiience, anu aftei consultation with those involveu with
technology tiansfei acioss the Institute, this submission will focus on thiee aieas:

• Specific suggestions foi changes in feueial policies, iecommenueu taigets foi
auuitional funuing, anu iueas iegaiuing ceitain aieas of technology tiansfei
that may iequiie auuitional focus;
• A uetaileu uesciiption of NIT's Innovation Ecosystem, along with
iecommenueu best piactices foi fosteiing commeicialization anu uiffusion of
univeisity ieseaich; anu
• The ciitical iole the Bayh-Bole Act plays in the successful commeicialization
of feueially-funueu ieseaich.

I believe the following iecommenuations foi goveinment action woulu encouiage
incieaseu investment in basic ieseaich, enhance the impact of feueially funueu
ieseaich, anu impiove the piocess of tiansfeiiing ieseaich in the lab to
commeicialization by the piivate economy. In Section II, I pioviue an in-uepth
uesciiption of NIT's Innovation Ecosystem, which pioviues auuitional uetails anu
best piactices to suppoit seveial of these iecommenuations.
• >,@5&,&-(!A+.&5!>--+9/(0+-!2&-(&31? Implement ten pilot mouel
innovation centeis acioss the 0.S. at ieseaich univeisities to uevelop,
uocument, anu assist in nationwiue uissemination of "best piactices" foi
encouiaging innovation anu entiepieneuiship by stuuents, faculty, staff anu
alumni. These centeis, similai to NIT's Beshpanue Centei (uesciibeu below),
woulu engage in a vaiiety of activities incluuing making connections to
inuustiy anu capital; euucating anu mentoiing; cieating ties to iegional
businesses; pioviuing giants oi seeu money; anu connecting faculty anu
stuuents. These centeis woulu also uisseminate best piactices anu foim the
nucleus of a community amongst 0.S. univeisities enhancing innovation. The
Auministiation is seeking mouest initial funuing foi such an effoit in its
Fiscal Yeai 2u11 buuget iequest foi the National Science Founuation; this
iequiies expansion.

• "#@@+3(!B-C2/,@#1!A&-(+30-4!"&390'&1? Suppoit expansion anu
escalation of mentoiing seivices baseu on the pioven NIT ventuie Nentoiing
Seivice mouel (uesciibeu below) at ieseaich univeisities acioss the 0.S.
Auuitionally, suppoit foimation of an Innovation Nentoiing Consoitium that
woulu enable the shaiing of knowleuge, expeiiences, anu best piactices
amongst mentoiing oiganizations to enhance effectiveness anu fuithei
inciease innovation output.

• D..! E&';-+5+4:! E3/-17&3! 2+1(1! (+! >-.03&'(! 2+1(! F++5. Nany schools,
paiticulaily in the cuiient economic climate, lack funuing to builu a patent
poitfolio anu hiie the staff to cieate successful technology tiansfei offices.
Nany existing offices aie now facing cutbacks. Allowing technology tiansfei
costs (e.g., patents anu staff) to be incluueu in the inuiiect cost pool foi
feueially funueu ieseaich (anu peihaps excluueu fiom the auministiative
cost cap) coulu pioviue schools with the iesouices to bolstei anu builu theii
Technology Licensing 0ffice (TL0) piogiams.

At the same time, feueial piogiams (incluuing at the Bepaitments of Eneigy
anu Agiicultuie) aie incieasingly asking foi "matching funus" fiom non-
piofit univeisities foi applieu ieseaich. This is a veiy uetiimental move in
the wiong uiiection, anu these cost-shaiing policies shoulu be ieveiseu.
0niveisity funuing stieams, unlike those in the piivate sectoi, uo not have a
piofit pool that coulu be allocateu to such shaiing.

• F3+,+(&! F+50'0&1! (;/(! G-'+#3/4&! G-(3&@3&-&#31;0@. Encouiage
goveinment anu univeisities to examine theii iules anu iegulations to
eliminate baiiieis to iesponsible faculty¡staff entiepieneuiship. Neuical
schools anu teaching hospitals have especially high potential foi
entiepieneuiship that coulu benefit society bioauly, while also contiibuting
to economic giowth, consistent with high stanuaius of integiity. In those
institutions, policies that stiongly piomote openness of ielationships,
appiopiiately oveiseen by senioi faculty committees, can amelioiate the
potential pioblems that aiise fiom the neeueu meuical faculty connections to
biomeuical inuustiy.

• H+1(! E&';-+5+4:! >--+9/(0+-! I/031. Feueial R&B agencies shoulu consiuei
holuing bi-annual technology innovation faiis that biing gioups of
outstanuing univeisity inventois togethei with suppoiting goveinment
agencies, companies, ventuie capital (vC) fiims, anu financial institutions in
emeiging technology sectois. The inauguial Auvanceu Reseaich Piojects
Agency - Eneigy (ARPA-E) Eneigy Innovation Summit coulu pioviue a veiy
useful mouel.

• "#@@+3(! ",/55! I03,J8-09&310(:! 2+55/$+3/(0+-1. Encouiage ieseaich
agencies, wheie appiopiiate, to auopt the Befense Auvanceu Reseaich
Piojects Agency (BARPA)-hybiiu mouel foi a poition of theii funuing as pait
of theii R&B poitfolios. This appioach pioviues awaius foi collaboiative
effoits involving small fiims anu univeisity ieseaicheis.

• GK/,0-&! H+L! (+! D((3/'(! A+3&! M&-(#3&! 2/@0(/5! >-9&1(,&-(? Conuuct an
examination of the factois that inuuce ventuie Capital fiims (vCs) to invest
in eaily-stage technologies. Typically, vCs only invest in physical-science-
baseu technologies when they aie neai commeicialization, anu they invest in
veiy few staitups uuiing economic uowntuins. We neeu to consiuei what
factois aie leauing to the ueciease in vC investment iates. If these issues aie
stuuieu anu bettei unueistoou, incentive systems coulu be ueviseu to
influence these tienus.

• G-'+#3/4&! "ND! >-9&1(,&-(! 0-! O&L! E&';-+5+4:! "(/3(#@1? Examine the
policies of the Small Business Auministiation (SBA) to be suie that auequate
emphasis is placeu upon new businesses with high giowth potential (i.e.,
"gazelles"). In paiticulai, theie shoulu be an explicit focus in agencies'
auministiation of the Small Business Innovation Reseaich (SBIR) Piogiam
foi new technology staitups anu new business iecipients that will acceleiate
technology implementation.

• G-;/-'&! /-.! D..! E/K! 23&.0(! F3+43/,1! (+! G-'+#3/4&! E&';-+5+4:!
E3/-17&3? In auuition to impioving some of the stiuctuial pioblems in the
ieseaich anu uevelopment (R&B) tax cieuit anu making it peimanent,
pioviue auuitional cieuit foi funuing foi collaboiations between inuustiy anu
univeisity ieseaicheis to acceleiate technology tiansfei. Also consiuei
uiopping the inciemental featuie of the cuiient cieuit, so it iewaius
significant, sustaineu R&B investments by fiims.

• F3+90.&! F+1(CP&43&&! M01/1. Foieign-boin immigiants have an unusually
stiong iecoiu of staiting fiims anu bolsteiing oui science talent base. This
has long been an histoiic competitive auvantage foi the 0.S. that few nations
have been able to match. In oiuei to pieseive this stiength, the 0.S. shoulu
awaiu five-yeai, post-uegiee visas to all foieign stuuents in accieuiteu
univeisity piogiams in STEN anu management fielus. These special visas
shoulu be conveiteu easily into gieen caius, anu theii holueis fast-tiackeu to
0.S. citizenship if they continue employment in 0.S. science anu technology-

ARPA- E Eneigy Innovation Summit (http:¡¡aipa-
baseu ieseaich anu enteipiises, oi if they stait theii own 0.S.-baseu


NIT takes a holistic anu compiehensive appioach to entiepieneuiship anu
innovation that spans fiom euucation to business connections to the
commeicialization of univeisity ieseaich. NIT's Innovation Ecosystem seives the
entiie NIT community, incluuing stuuents, ieseaicheis, faculty, staff, alumni, anu
membeis of the local business community. This ecosystem is founueu on the
concepts of: 1) nuituiing anu mentoiing potential entiepieneuis; 2) puisuing
patent piotection foi technological innovations iesulting fiom NIT ieseaich to
fostei commeicial investment in biinging such innovations to the maiketplace to
benefit the public; S) engaging ueeply with the suiiounuing business anu vC
community; 4) integiating entiepieneuiship anu innovation acioss all schools anu
uepaitments; anu S) focusing on long-teim ielationships, iathei than shoit-teim

The success of NIT's mouel is outlineu in a 2uu9 Kauffman Founuation iepoit that
uesciibes the Entiepieneuiial Impact of NIT,
anu uocuments the uevelopment of
its Innovation Ecosystem. The iepoit estimates that living NIT giauuates have
founueu appioximately 2S,8uu active companies, which employ appioximately S.S
million people anu geneiate estimateu annual woilu ievenues of appioximately $2
tiillion ÷ piouucing the equivalent of the woilu's 11th-laigest economy.

As these numbeis suggest, NIT's most impoitant contiibution to the innovation
economy stems fiom the euucation that NIT pioviues to its stuuents, who aie the
inventois anu entiepieneuis it euucates anu inspiies. The iichest souice of
innovation is a ueep unueistanuing of funuamental science anu engineeiing, which
NIT has instilleu in its stuuents foi uecaues. Bowevei, I also believe that NIT's
entiepieneuiial success flows in pait fiom a numbei of initiatives that ovei the past
fifteen yeais have cieateu an Innovation Ecosystem centeieu on oui campus anu
spilling into the suiiounuing iegion as well. As each of its components has taken
shape anu expanueu ovei the yeais, the bonus between them have stiengtheneu to
foim a tiue ecosystem that is imbueu with NIT's cultuie of innovation anu
entiepieneuiship. Although a host of auuitional factois stiengthen oui ecosystem,
below I uetail its main components:

A. The Technology Licensing 0ffice
B. The Beshpanue Centei foi Technological Innovation
C. The Entiepieneuiship Centei
B. The ventuie Nentoiing Seivice
E. Innovation Piizes

Robeits, E. anu Eesley, C; )#&*"+*"#"(*,'-%.!+'/&0%12"%34-"%45%6.1; The Kauffman Founuation, Febiuaiy 2uu9
F. The Inuustiial Liaison Piogiam
u. Cioss School¡Cioss Bisciplinaiy Initiatives

A. The Technology Licensing 0ffice

NIT'S Technology Licensing 0ffice (TL0) has a successful tiack iecoiu that spans
uecaues of helping NIT faculty anu ieseaicheis with patenting, licensing, anu
staiting fiims that builu upon technology uevelopeu at NIT. In Fiscal Yeai (FY)
2uu9, NIT ieceiveu 1SS 0.S. patents (seconu in the 0.S. aftei the combineu total of
the ten univeisities in the 0niveisity of Califoinia system) anu fileu 2S1 new 0.S.
patent applications. Appioximately 2u to 2S new companies spin out of NIT each

NIT's TL0 aims to benefit the public by moving iesults of NIT ieseaich into societal
use via technology licensing, thiough a piocess that is consistent with acauemic
piinciples, uemonstiates a concein foi the welfaie of stuuents anu faculty, anu
confoims to the highest ethical stanuaius. This piocess benefits the public by
cieating new piouucts anu piomoting economic uevelopment. It also helps NIT:

• show tangible benefits of taxpayeis' suppoit foi funuamental ieseaich;
• attiact faculty anu stuuents;
• encouiage inuustiial suppoit of ieseaich;
• cieate uiscietionaiy ievenue to suppoit euucation anu ieseaich;
• piouuce new job oppoitunities foi giauuates; anu
• contiibute to economic uevelopment locally anu nationally.

While the TL0 fosteis commeicial investment in the uevelopment of uiscoveiies
thiough licensing of intellectual piopeity, NIT's TL0 uoes not focus on shoit-teim
gains fiom licensing ievenues. Rathei, it focuses on the impoitance of builuing long-
teim ielationships with companies, whethei establisheu fiims oi staitups. This
long-teim appioach has encouiageu the uevelopment of an innovation clustei
suiiounuing the Institute. Within easy walking uistance of NIT, one can finu some
1Su biotech anu phaimaceutical companies, a host of Infoimation Technology (IT)
anu iobotics fiims, anu now an emeiging eneigy clustei.

In NIT's view, the following piactices contiibute to a successful TL0:

• 0peiate with a consistent mission that guiues its activities, foi example
"impact not income" oi "license as many technologies as possible, iathei than
focusing on income fiom a few."
• Be visible ÷ paiticulaily to the faculty ÷ anu have explicit senioi
auministiation suppoit. Technology tiansfei shoulu be seen as an impoitant
mission of the univeisity.
• Encouiage iational expectations, especially when it comes to expecteu
income fiom licenseu technologies.

About the TL0 (http:¡¡web.mit.euu¡tlo¡www¡about¡)
• Bevelop anu communicate cleai anu simple policies ÷ conceining
publication, Intellectual Piopeity (IP) owneiship, conflict of inteiest, anu
piomotion ciiteiia ÷ that aie consistently followeu by senioi management.
• Woik closely with the 0ffice of Sponsoieu Piogiams with iespect to IP to
align sponsoieu ieseaich contiacts with 0niveisity policy anu TL0 mission.
• Encouiage impioveu awaieness in the acauemic community about cieation
of IP, its value, anu implications.
• Pioviue sufficient financial suppoit to the TL0 to builu a patent poitfolio,
with sufficient auministiative suppoit foi licensing officeis.
• Engage a talenteu, well-tiaineu TL0 staff, with positive staff ietention.
Canuiuates with business expeiience aie piefeiable, as well as those with a
ieal unueistanuing of acauemic goals anu piinciples.
• Woik closely with anu be iesponsive to the neeus of faculty anu stuuents.
The staff shoulu be easy to contact anu offei piompt follow-up.
• Bevelop stiong ielationships with the outsiue business community, incluuing
investois, lawyeis, companies, etc., thiough paiticipation in inuustiy
confeiences anu netwoiking, anu thiough ieciuiting volunteeis fiom the
business anu technical community to help in mentoiing, juuging, speaking at
the univeisity, etc. Encouiage infoimal contacts between business
community anu faculty. This incluues a stiong engagement with iegional
technology clusteis.
• Ninimize "ieview anu appioval" outsiue the TL0 to stieamline the piocess;
uelegate authoiity uownwaiu to complete tiansactions piomptly.
• Bevelop anu tiack ielevant metiics such as the numbei of invention
uisclosuies pei million uollais of ieseaich; numbei of licenses; numbei of
staitups; anu, if applicable, amount of inuustiy-sponsoieu ieseaich.
Licensing income is a pooi measuie of success.

B. The Beshpanue Centei foi Technological Innovation

0niveisity faculty anu ieseaicheis aie unlikely to be tiaineu oi skilleu in foiming
companies anu commeicializing technologies, which can a majoi baiiiei in the
technology tiansfei piocess. When it comes to ieciuiting investois, many also neeu
help biiuging the gap between basic ieseaich anu a valiu pioof of concept. Equally
impoitant is ieuucing the technology anu maiket iisk so investois feel comfoitable
committing the iesouices to uevelop the technology outsiue of the univeisity. To
confiont these issues, anothei funuamental component of NIT's Innovation
Ecosystem has become the Beshpanue Centei foi Technological Innovation.
Establisheu in 2uu2 with an initial uonation by }aishiee anu Besh Beshpanue, the
Beshpanue Centei is a Pioof of Concept Centei (P0CC) that incieases the impact of
NIT technologies in the maiketplace. Touay, the Centei uepenus on the financial anu
piofessional suppoit of successful alumni, entiepieneuis, inuustiy anu investois to
pioviue sustainable funuing foi innovative ieseaich anu the expeit guiuance to help
it ieach the maiketplace.

About The Beshpanue Centei (http:¡¡web.mit.euu¡ueshpanuecentei¡)
The Beshpanue Centei suppoits focuseu tianslational ieseaich whose uata can
convince investois of an innovation's technical feasibility. The Centei allows faculty
anu stuuents to move fiom an iuea anu invention, thiough the innovation piocess,
to a piototype piouuct. It also fosteis entiepieneuiship anu innovation among NIT
faculty anu stuuents by pioviuing eaily assistance anu guiuance to those with gieat
iueas who aie inteiesteu in commeicializing them. It's a boot camp foi innovatois
÷ they leain how to uo milestone-focuseu ieseaich, unueistanu maiket
oppoitunities anu neeus, anu aie matcheu with mentois fiom inuustiy anu theii
specific technology fielu. The Centei also connects them to iesouices in the exteinal
ecosystem incluuing vCs anu angel investois.

Since 2uu2, The Beshpanue Centei has funueu moie than 8u piojects with ovei $1u
million in giants - a piocess that involveu moie than 2uu faculty anu stuuents anu
moie than 1uu volunteeis. Twenty piojects have spun out of the centei into
commeicial ventuies, collectively iaising moie than $18u million in outsiue
financing anu employing moie than 2uu people. Suppoiting piojects acioss a wiue
iange of emeiging technologies (incluuing biotechnology, biomeuical uevices,
infoimation technology, new mateiials, tiny tech, anu eneigy innovations), the
Beshpanue Centei achieves its mission thiough seveial piogiams incluuing uiant
Piogiams, Catalyst Piogiam, Innovation Teams (i-Teams), anu holuing special

The Beshpanue Centei .7#,&,4#%8*'#&%9(#:,#7 (up to $Su,uuu pei giant) enables
ieseaicheis anu theii stuuents to puisue new avenues of maiket-uiiven ieseaich
anu paiticipate in paitneiships anu piogiams that will help acceleiate the
commeicialization piocess. Suppoiting woik uone by NIT faculty anu in NIT
ieseaich labs, these giants taiget novel, enabling, anu potentially useful iueas in all
aieas of technology.

.##4;'&,4#%8*'#&%9(#:,#7 (up to $2Su,uuu pei giant) benefits piojects that have
piogiesseu beyonu theii eailiest concept stages ÷ piojects that have establisheu
pioof of concept anu iuentifieu a ieseaich anu uevelopment (R&B) path anu IP
stiategy. 0ltimately, each giant will help a pioject builu a package aiounu the new
technology that incluues these elements to biing to vCs oi companies that might
invest in its technology.

The <'&'-=$&%>*47*'! biings togethei volunteeis fiom the business community anu
NIT innovatois to iuentify the best way to maximize maiket impact. "Catalysts" aie
a highly vetteu gioup of inuiviuuals with expeiience ielevant to innovation,
technology commeicialization, anu entiepieneuiship; they seive as mentois to
faculty anu stuuent ieseaich teams. In theii iole as Catalysts, they pioviue
inuiviuual contiibutions to the Centei anu uo not iepiesent any company inteiests.

The ,?1"'!$ <4(*$" is an euucational collaboiative effoit between the Beshpanue
Centei anu the NIT Entiepieneuiship Centei (outlineu below), wheie multiple
ieseaich piojects fiom within NIT aie selecteu each semestei to allow stuuents to
evaluate theii commeicial feasibility anu uevelop go-to-maiket stiategies. The
Beshpanue Centei also hosts a vaiiety of ";"#&$ thioughout the yeai to biing
togethei NIT innovatois anu the suiiounuing iueas anu business communities.

C. NIT Entiepieneuiship Centei

NIT giauuates stait between 2uu-4uu companies pei yeai, anu appioximately 2u to
2S of these aie staiteu thiough the NIT TL0. The iemaining spiing to life because
NIT stuuents have acquiieu excellent skills in iecognizing anu commeicializing
othei innovations. The NIT Entiepieneuiship Centei (E-Centei) looks to uevelop
piecisely this in-uepth giasp of the piocess in NIT stuuents.

Pioposeu in 199u by the then Bean of the NIT Sloan School of Nanagement as a
centei to suppoit entiepieneuiship acioss the five Schools at NIT, the
E-Centei cieates gieat value foi it stakeholueis by connecting technologists anu
business people anu fosteiing an enviionment that helps them acceleiate the
cieation of new companies togethei. Within NIT's uecentializeu Innovation
Ecosystem, the E-Centei 's piogiams help instill in stuuents the skills anu attituues
it takes to succeeu as entiepieneuis.

The E-Centei also builus alliances between NIT entiepieneuis anu local coipoiate
anu ventuie capital leaueis, builuing a community of acauemic, goveinment, anu
inuustiy leaueis focuseu on entiepieneuiial ventuies. NIT uses the E-Centei to
connect with iegional technology clusteis in such aieas as biotechnology, eneigy,
anu iobotics. As pait of its mission to tiain successful entiepieneuis who will uiive
the global high-tech economy, the E-Centei also paitneis with institutions,
companies, anu inuiviuuals in othei iegions of the woilu inteiesteu in innovation-
baseu entiepieneuiship.

Bome to many of the woilu's leauing ieseaicheis on innovation-baseu
entiepieneuiship anu the uevelopment of entiepieneuiial ecosystems ÷ incluuing
Piofessois Eu Robeits, Fiona Nuiiay, Scott Stein, Antoinette Schoai, Nichael
Cusumano, anu Natt Naix ÷ the E-Centei is also a centei foi iigoious ieseaich.

The following is a sampling of E-Centei initiatives, piogiams, anu activities that aim
to euucate stuuents in entiepieneuiship, nuituie theii uevelopment, leveiage NIT's
netwoik to acceleiate theii giowth, anu celebiate theii entiepieneuiial effoits anu

• The E-Centei cooiuinates moie than Su classes each yeai involving moie
than 2u faculty, which euucate thousanus of stuuents in the basic skills of
• These incluue foi-cieuit classes anu non-cieuit classes that may be
intiouuctoiy, skill-specific, oi sectoi-specific. Cuiient classes aie piimaiily

About the Entiepieneuiship Centei (http:¡¡entiepieneuiship.mit.euu¡mission.php)
geaieu at the giauuate level, with giowing unueigiauuate paiticipation.
• The centei pioviues physical facilities foi stuuents to meet othei stuuents,
biainstoim iueas, anu get piojects off the giounu, incluuing a space uesigneu
like a stait-up, with telephones, IT systems anu common space to piomote
infoimal uialogue.
• Thiough the E-Centei's Entiepieneui-in-Resiuence (EIR) piogiam, stuuents
benefit fiom honest biokei auvice anu suppoit at the veiy eailiest stages of
ventuie cieation fiom people who have founueu companies befoie.
Conuucteu thiough office houis, this seivice complements the moie
extensive mentoiing suppoit offeieu by the ventuie Nentoiing Seivice
(vNS) oi the Catalysts in the Beshpanue Centei once a pioject has uevelopeu
to a moie matuie stage.
• To help stuuents apply what they leain in the classioom, the E-Centei uses
its facilities, staff, contacts, anu IT seivices to actively suppoit the many clubs
anu activities ielateu to entiepieneuiship, incluuing the NIT $1uuK
Competition; the NIT Clean Eneigy Piize; the NIT Entiepieneuiship Club;
the NIT ventuie Capital anu Piivate Equity Club; the NIT Eneigy Club; the
NIT Sales Club; the Sloan Women in Nanagement Club; the NIT Sloan Eneigy
& Enviionmental Club; the NIT Sloan Biomeuical Business Club; anu the NIT
Entiepieneuiship Review.
• The E-Centei helps oiganize anu sponsoi a speakei seiies on
entiepieneuiship. This yeai, foi example, the seiies focuseu in pait on
entiepieneuiial oppoitunities in 0.S. natuial gas.

• Believing that leaining emeiges fiom inteiactions with otheis anu that
entiepieneuis' capacity to get things uone uepenus on the numbei anu
quality of theii contacts, the E-Centei actively seeks to builu foi its
stakeholueis a bioau community of meaningful contacts.
• Netwoiking occuis thiough foimal ieceptions twice a yeai as well as thiough
specific topic-focuseu confeiences (e.g., ventuie Capital, Eneigy, Piivate
Equity, Spoits Analytics, Sales, Biotech).
• In }anuaiy of each yeai, the E-Centei oiganizes anu iuns a one-week stuuy
toui of Silicon valley to allow stuuents to meet entiepieneuis, funueis, anu
goveinment iepiesentatives. 0thei infoimal touis oi tieks aie oiganizeu
baseu on uemanu.
• The E-Centei also piomotes less foimal inteiactions thiough biown bag
luncheons with entiepieneuis anu uiop-by visits when people aie in town.
Stuuents often finu the gieatest value in these infoimal inteiactions.

• The E-Centei actively seeks to celebiate examples of entiepieneuiial iisk
taking anu success thiough a seiies of awaius ÷ the Ncuovein Awaiu, the
Anueison Fellows, the Bellei Awaiu, the Nonosson Awaiu ÷ available to oui
stuuents, faculty anu¡oi alumni.
• The E-Centei also encouiages anu fully suppoits the celebiatoiy aspects of
activities such as the NIT $1uuK Competition, the NIT Clean Eneigy Piize
anu othei awaius anu iecognition by the stuuent clubs.
• To geneiate positive exposuie, especially with the community of NIT
entiepieneuis, the E-Centei will be launching a "Bigital Shingle Pioject" to
give instant visibility to stuuents anu alumni who stait companies thiough
special uisplays at the centei anu, moie impoitantly, on oui web site.
• This yeai, the E-Centei launcheu the NIT Entiepieneuiship Review, a
piestigious stuuent-iun oiganization that piouuces an on-line publication
that piomotes anu highlights thought leaueiship in the community anu
beyonu. It also offeis visibility anu positive iecognition foi iecent "success
stoiy" fiims.

B. ventuie Nentoiing Seivice

Nany uiscoveiies anu inventions nevei make it to maiket because ieseaicheis lack
the necessaiy knowleuge, skills, anu access to iesouices. The NIT ventuie
Nentoiing Seivice (vNS) auuiesses this gap by pioviuing NIT stuuents, alumni,
faculty, anu staff with poweiful auvisoiy iesouices to both inciease successful
outcomes anu acceleiate the commeicialization of univeisity innovations.

The NIT vNS hainesses the knowleuge anu expeiience of volunteei alumni anu
othei business leaueis to help piospective entiepieneuis in the univeisity
community biing theii iueas anu inventions to maiket. Entiepieneuis ieceive
piactical euucation thiough a hanus-on, team mentoiing piocess that builus a
tiusteu long-teim ielationship. NIT vNS offeis its seivices without chaige.

This un-biaseu, hanus-on mentoiing has pioven effective in helping scientists anu
engineeis who aie passionate about theii iueas leain how to be entiepieneuis -
how to conceive of anu peifect theii piouucts anu seivices, iuentify maikets, builu
business oiganizations, anu seek funuing. Foi potentially game-changing
innovations, this piocess may take five to seven yeais oi even moie befoie a
company anu piouuct aie tiuly launcheu.

Fuitheimoie, vNS's innovative expeiiential leaining piocess is moie efficient than
tiauitional institutional appioaches because it leveiages univeisity iesouices anu
the collective knowleuge anu capacity of a laige pool of highly qualifieu volunteei
mentois who commit many thousanus of houis of time each yeai.

Since its launch in 2uuu, moie than 1,4uu entiepieneuis involveu in neaily 8uu
ventuies have eniolleu in vNS mentoiing. 0f these, moie than 1Su have auvanceu to
become ieal opeiating businesses. Cuiiently, moie than 17S ventuies aie
paiticipating (anu we continue to enioll between S anu 1u new ventuies each
month). Collectively, these ventuies have iaiseu moie than $7uu million in

About the ventuie Nentoiing Seivice (http:¡¡web.mit.euu¡vms¡)
investments, giants, anu othei suppoit ÷ funuing that floweu laigely to employees,
contiactois, supplieis, anu seivice pioviueis in oui community. Thiough mentoiing
anu piogiam leaueiship, NIT vNS mentois have contiibuteu an aggiegate of moie
than 6u,uuu houis of volunteei time.

Because the vNS mouel has attiacteu inteiest woiluwiue, we have sought to shaie
with otheis the knowleuge that vNS has gaineu, thiough an active outieach
piogiam incluuing piesentations, woikshops anu customizeu tiaining. To uate, 12
univeisities anu economic uevelopment oiganizations have instituteu piogiams
baseu on the NIT vNS mouel.

Leaueis fiom vNS paiticipating oiganizations estimate that theii vNS tiaining
likely saveu them fiom one to thiee yeais in stait-up time. Although these
piogiams have only been in place foi a few yeais, hunuieus of ventuies anu
entiepieneuis have eniolleu anu paiticipateu in mentoiing piogiams baseu on NIT
vNS piactices.

E. Innovation Piizes
In auuition to the initiatives uetaileu above, a numbei of piizes at NIT spui stuuents
anu faculty to exploie uifficult pioblems, incluuing the NIT $1uuK Entiepieneuiship
anu The NIT Clean Eneigy Piize.

The D%>3.E)%F'C%G%6.1
, founueu in 2uu7 thiough the Beshpanue Centei, paitneis
with the X PRIZE Founuation to engage leauing thinkeis in pinpointing aieas iipe
foi bieakthiough innovation. NIT stuuents anu faculty exploie the stiengths of piize
philanthiopy with acauemic iigoi anu the excitement of the X PRIZE mouel helps
engage youth in the woilu's biggest challenges.

F. Inuustiial Liaison Piogiam¡0ffice of Coipoiate Relations

NIT has long helu that bieakthiough ieseaich hinges on open, consultative
uialogue. The 0ffice of Coipoiate Relations' Inuustiial Liaison Piogiam (ILP) was
establisheu in 1948, making NIT the fiist acauemic institution with a foimal
piogiam uesigneu to nuituie univeisity¡inuustiy collaboiation. Foi six uecaues, the
ILP has connecteu membei companies with the latest ieseaich uevelopments at NIT
anu enableu inuustiy to suppoit the Institute's ieseaich anu euucational activities.
Inuustiy-sponsoieu ieseaich at NIT totaleu $116 million in FYu9, oi 16% of all NIT
ieseaich funuing.
Foi companies inteiesteu in puisuing significant, multi-yeai, multi-uisciplinaiy
involvement with NIT, the ILP pioviues piofessionally cooiuinateu access to NIT
expeits, ieseaich facilities, anu infoimation iesouices to help them biing
innovations to maiket. Each ILP membei is assigneu an Inuustiial Liaison 0fficei

About the $1uuK piize (http:¡¡www.mit1uuk.oig¡)
About the NIT Clean Eneigy Piize (http:¡¡www.mitcep.oig¡)
About the X Piize Lab Ç NIT (http:¡¡www.xpiize.oig¡euucation-initiatives¡x-piize-lab-mit)
About the ILP (http:¡¡ilp-www.mit.euu¡uisplay_page.a4u.key=B1)
(IL0) who consults iegulaily with the coipoiate membei to match theii neeus with
ielevant NIT faculty anu iesouices. Baving eaineu the iespect anu iesponsiveness
of NIT faculty anu aimeu with a ueep unueistanuing of the given inuustiy, the IL0 is
iueally positioneu to be an effective auvocate foi the membei's neeus anu goals
within NIT. By cieating connections with the iight NIT people anu piogiams, the
IL0 helps membeis:
• stay abieast of new technology uevelopments
• gain insight into a vaiiety of issues ielateu to theii coie business units
• leain about - anu exploit - new oppoitunities
• anticipate changes in the maiketplace
• sustain giowth anu piofitability

Connections with establisheu fiims, such as those cultivateu thiough the ILP, aie
also an impoitant pait of NIT's Innovation Ecosystem.
u. Cioss School¡Cioss Bisciplinaiy Initiatives
0ui Innovation Ecosystem has giown most iecently thiough two majoi cioss-
school, cioss-uisciplinaiy initiatives:

Establisheu in Septembei 2uu6, the NIT Eneigy Initiative (NITEI)
aims to help
tiansfoim the global eneigy system to meet the neeus of the futuie anu to builu a
biiuge to that futuie by impioving touay's eneigy systems. It connects all five NIT
schools anu numeious uepaitments anu has built an eneigy ieseaich poitfolio of
appioximately $2Su million foi the next five yeais, incluuing paiticipation fiom a
numbei of majoi companies in collaboiative inuustiy-Institute ieseaich piojects.

NITEI also unueitakes majoi cioss-school, cioss-uisciplinaiy policy stuuies on
eneigy issues, incluuing such noteu iepoits as "The Futuie of Nucleai Powei," "The
Futuie of Coal," anu "The Futuie of ueotheimal." Five moie majoi eneigy policy
stuuies aie now unuei way. NITEI's policy effoits also help infoim ieseaich
uiiections. These cioss-cutting, multi-uisciplinaiy effoits have enlisteu some 2uu
ieseaicheis anu multiplieu the oppoitunities foi eneigy ieseaich auvances.

NIT's seconu majoi cioss-school, cioss-uisciplinaiy initiative is taking shape
thiough the new Baviu B. Koch Institute foi Integiative Cancei Reseaich, which
builus on NIT's eailiei Centei foi Cancei Reseaich, founueu by Nobel Lauieate
Salvauoi Luiia. Soon to be houseu in a state-of-the-ait ieseaich builuing, the Koch
Institute capitalizes on the conveigence of the life, engineeiing, anu physical
sciences as a stiategy foi achieving meuical bieakthioughs.

Reseaicheis fiom these fielus will collaboiate to taiget five aieas of ieseaich at the
inteisection of biology, engineeiing anu physical sciences, incluuing: (1) uefining the
specific vulneiabilities of cancei cells by cieating a complete "wiiing uiagiam" of the

About NITEI (http:¡¡web.mit.euu¡mitei¡)
key pathways that allow cancei cells to keep uiviuing anu iemain alive; (2)
engineeiing entiiely new nanotechnology paiauigms foi cancei tieatment; (S)
unueistanuing how tumois evaue immune iecognition anu ueveloping methous to
oveicome these avoiuance mechanisms, incluuing moie effective anti-cancei
vaccines anu othei foims of immunotheiapy; (4) using poweiful new engineeiing
tools to uissect the moleculai anu cellulai basis foi metastasis; anu (S) shifting the
cuive of cancei uiagnosis anu pievention to eailiei anu eailiei stages using
auvances such as genomics, novel imaging agents, anu micio-scale monitoiing

Such collaboiative, cioss-uisciplinaiy, cioss-school initiatives appeai to be
geneiating significant new oppoitunities foi majoi ieseaich auvances in the eneigy
anu life science fielus. Not inciuentally, both initiatives incluue a conscious focus on
technology tiansfei.


0niveisity uiscoveiies have set the seeus of numeious new inuustiies in the 0niteu
States. We saw this with the emeigence of the Infoimation Technology (IT) anu
biotech inuustiies, wheie univeisities, incluuing NIT, playeu a cential iole. We aie
also beginning to see the initial signs of such giowth in a new eneigy sectoi. In
Nassachusetts, appioximately 9u new eneigy fiims iepiesent an emeiging new
clustei foi the New Englanu economy. A giowing numbei stem fiom NIT's majoi
eneigy initiative noteu above.

Nuch of the success of these anu othei clusteis can be attiibuteu to the Bayh-Bole
Act of 198u (BBA), which gave univeisities the iight to ietain the patents ÷ anu
theiefoie to license the technologies ÷ uevelopeu fiom Feueially funueu ieseaich.
While some now auvocate mouifying the Bayh-Bole Act (BBA) to cuitail univeisity
iights to intellectual piopeity stemming fiom feueial ieseaich uollais, I believe this
move coulu giavely uamage technology tiansfei by hampeiing univeisities'
commeicialization effoits.

The BBA was intenueu to encouiage the foimal tiansfei of univeisity-geneiateu
ieseaich iesults to the public. The NIT technology tiansfei system is baseu on
uecaues of uay-to-uay expeiience on the giounu with entiepieneuis, vCs, anu small
companies. This expeiience is exceptionally valuable to faculty, who woulu be much
less willing oi able to negotiate the highly complex anu often expensive path to
commeicialization without suppoit fiom an expeiienceu TL0 office anu suppoiting

0niveisity technology tiansfei offices aie also quite awaie of theii uuties anu
obligations to the public goou anu to the 0.S. goveinment, which has investeu its
iesouices in theii ieseaich, anu aie theiefoie in the best position to be neutial,

About the Koch Institute (http:¡¡web.mit.euu¡ki¡about¡inuex.html)
objective, anu unbiaseu auvocates of feueially funueu inventions with claiity,
consistency, anu tianspaiency of policies anu piactices. Finally anu veiy
impoitantly, the pioposeu change to BBA woulu iemove a key incentive foi
encouiaging univeisities to piomote economic clusteis that aie so impoitant to
local, iegional, anu national economic giowth.

A New Suivey of Best Piactices
That being saiu, theie aie ceitainly piactices that can be auopteu by NIT anu othei
univeisities to impiove the peifoimance of theii TL0s. I have listeu above what we
have founu to be oui "best piactices" foi technology tiansfei, anu many majoi
univeisities have auopteu similai iule sets. The univeisity associations conceineu
with technology tiansfei have also attempteu to bioaucast the most successful
univeisity appioaches, which iequiie continual upuating to keep pace with ongoing
economic uevelopments.

I have chaigeu a gioup at NIT to suivey anu unueistanu the cuiient foices anu
tienus in univeisity-inuustiy technology tiansfei. This gioup will not only ieview
NIT's policies, pioceuuies, anu piactices ielateu to technology tiansfei anu
inuustiial sponsoiship of ieseaich, but also iuentify best piactices by ieviewing
similai policies, pioceuuies, anu piactices at peei institutions. The suivey will also
solicit input anu iueas fiom the NIT community anu outsiue inuiviuuals in both the
piivate anu public sectois. The iesults of this suivey will be iecommenueu changes,
if any, to NIT's policies, pioceuuies, oi piactices to enhance, simplify, anu acceleiate
technology tiansfei anu to enable the foimation of beneficial stiategic paitneiships
with inuustiy while pieseiving NIT's funuamental values anu piinciples. When this
iepoit is completeu, I woulu be pleaseu to foiwaiu it to the Auministiation.

In closing, I woulu like to unueiscoie two points. 0niveisity technology tiansfei has
come a long way since the BBA was passeu, ueliveiing iemaikable auvances foi oui
society. Impiovements ceitainly can be maue in technology tiansfei. But the Bayh-
Bole Act pioviues a ciitical founuation foi univeisity-baseu Innovation Ecosystems,
anu it shoulu continue to uo so.

I want to expiess NIT's appieciation foi the Piesiuent's iecognition of the
impoitance of commeicialization of univeisity ieseaich to local, iegional, anu
national economic giowth. I hope you finu this submission useful in iuentifying
possible iecommenuations. NIT's faculty anu staff stanu ieauy to assist you as you
move foiwaiu in these effoits. If youi offices have any follow up questions, please
contact William B. Bonvillian in NIT's Washington, BC 0ffice at (2u2) 789-1828.


Susan Bockfielu

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