What would you do with plastic batteries or silver ink pens that write electric circuits?
“A private equity firm that invests in university-derived inventions, Allied Minds, Inc. today (3/7/2012) announced the creation of AlliedMindStorm.com, an open innovation website that invites the public (Thinkers) to brainstorm new commercial applications around exciting technologies (Challenges) developed by researchers at universities across the country. Any “Thinker” whose specific application of the technology results in a new startup will receive $25,000. In addition, smaller prizes will be given out for best-in-class suggestions.
“Allied MindStorm represents the manifestation of our firm’s mission: we want a diverse community of people working together to transform invention into innovation,” Allied Minds CEO Chris Silva said. “Although our primary goal is to create new businesses based around the best suggestions we receive, our ultimate motivation is changing the way the public thinks about how technology evolves from an idea into a commercial application.”
Hundreds of American universities market thousands of technology inventions to investment firms each year. Many of these are technologies with obvious commercial uses. Some of the most ambitious and intriguing research, however, gets passed over because of too many unanswered question about what is the best application to develop a sustainable product or service. Allied MindStorm.com is the first crowdsourcing platform within the institutional investment industry designed to answer these questions in order to commercialize research more efficiently…”
Fashion Forward Maternity Receives $22,500 for Online Maternity Fashion Concept; Finalist @Fingertips Receives $26,000 in Prizes and Grants for Touchscreen Devices for the Blind
The Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies at the University of Michigan’s Stephen M. Ross School of Business today announced the winners of the 2012 Michigan Business Challenge and recipients of the Applebaum Dare to Dream Grants and Mayleben Family Venture Shaping Grants for U-M student startups. Award winners and grant recipients received funding totaling nearly $90,000 for innovative new business concepts and compelling business plans. Several teams will go on to compete at intercollegiate business plan competitions where winning Michigan teams in 2011 brought home $326,350 in prize money and services.
“The Michigan Business Challenge and Dare to Dream grant program exemplify how the Zell Lurie Institute connect students from multiple disciplines and provide teams with the support and resources needed for the development of nascent business ideas into compelling business plans with the potential to launch,” said Tom Kinnear, executive director of the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies. “This multi-faceted, learn-do approach prepares entrepreneurially ambitious students with life-long entrepreneurial skills and connects them with key individuals important to their career pursuits…”
Top 3 winners:
- The Pryor-Hale Award for Best Business for $20,000 went to Fashion Forward Maternity – a socially responsible online boutique where savvy professional women can borrow high quality and designer maternity and nursing fashions at a fraction of the price of new.
- Runner-up for $10,000 to Converge Medical Technologies – a medical device company that develops patient brain function monitoring solutions through principles of neuroscience.
- Erb Award for Environmental and Social Sustainability for $7,500 to @Fingertips – a for-profit social-entrepreneurial company that builds devices enabling the blind to use modern touchscreen devices.
The Startup Foundation currently has eight pilot member cities: Boston; Des Moines; Detroit; Las Vegas; Los Angeles; New York City; Seattle; and Sao Paulo, Brazil. Foundation co-founders in each city are mapping their local entrepreneurial ecosystem and interviewing community leaders.
From the Kauffman Foundation:
“Startup Weekend, a global grassroots network of entrepreneurs and leaders, today announced an initiative in partnership with the Ewing Marion Kauffman Foundation that will lead to the creation of vibrant startup communities in cities across the nation. Called the Startup Foundation, the program is a grassroots initiative that helps cities build and establish ecosystems that will support more high-growth entrepreneurs, startups, and ultimately, jobs.
“We know from our experiences with local Startup Weekends that entrepreneurship is best supported at the grassroots level,” said Marc Nager, CEO of Startup Weekend. “The Startup Foundation will ensure that community leaders across the country have a sustainable platform for which to effect real change within their local communities.”
Startup Weekends are events in cities around the world where aspiring founders and startup supporters meet to share ideas, form teams, build products and launch companies. With funding from the Kauffman Foundation, the Startup Foundation will focus on researching and mapping the ecosystems of participating cities to identify influential leaders, programs and gaps in community resources; supporting local initiatives that drive the creation of more entrepreneurs, startups, and jobs; and raising funds for local entrepreneurship support initiatives…”
Will Stanford Take the F Train to Silicon Island? Tensions Rise as Deadline for Tech Campus Approaches
As the Oct. 28 deadline for proposals approaches, both neighborhood advocates and the institutions bidding have intensified their campaigns. Scuttlebutt has Stanford as the frontrunner and Roosevelt Island as the likely site, agitating folks like Ms. Dolan and institutions like N.Y.U.
“If replicating the talent engine that fuels Silicon Valley sounds ambitious, City Hall’s underlying vision is even more enterprising. New York City’s Economic Development Corporation has offered universities around the world a chance to compete for city-owned land in the hopes of besting the Valley, wresting the title of innovation capital from global competitors and remaking New York’s industrial landscape. So long Goldman Sachs, hello start-ups—if it comes to that, of course. Estimates are that the project will generate $6 billion in economic activity over the next few decades and add 8,000 construction jobs and spin out 400 companies in the coming years.
The E.D.C.’s application makes no bones about its goal: “Increase the probability that the next high growth company—a Google, Amazon, or Facebook—will emerge in New York City and not in Shanghai, Mumbai, or Sao Paolo…”
READ FULL ARTICLE [web]
We take these teams out of their moms’ basements and put them on the 14th floor of a sky-rise on Boston’s waterfront.
From The Next Web Insider:
“At the forefront of excellence and prestige is the Boston-based non-profit, MassChallenge, which bills itself as “the world’s largest startup competition”. MassChallenge is a very special kind of accelerator, as it is both an independent non-profit and does not take equity. Now, in its second year, MassChallenge is incubating 125 companies in its Boston waterfront offices, and each team is competing for $1 million in prizes. The competition is open to anyone in the world, for any new startup, in any industry.
For MassChallenge’s first class, it received 450 applications from 24 countries. 111 teams were chosen, representing all industries and levels of development within the early-stage spectrum. The 4-month program held hundreds of training and networking events, workshops and job fairs. In the end, there were 16 winners; 4 teams won $100K and 12 teams won $50K from the MassChallenge million. The 111 teams went on to raise $100 million in total venture funding and created 500 new jobs in under 12 months. This summer, Ksplice, a 2010 MassChallenge winner, was acquired by Oracle, marking the first exit of a MassChallenge-supported startup…”
The Edson Initiative — which offers student teams funding, office space, mentorship and training to accelerate their venture concepts — attracted 250 applications in 2011, a 32 percent increase over the 190 entries the previous year
“In only its sixth year, the unique Edson Student Entrepreneur Initiative at Arizona State University experienced significant growth in interest in 2011 – further evidence of the growing entrepreneurial spirit at the university.
The Edson Initiative — which offers student teams funding, office space, mentorship and training to accelerate their venture concepts — attracted 250 applications in 2011, a 32 percent increase over the 190 entries the previous year. More than $1.2 million has been awarded to student teams during the life of the program and more than $200,000 will be granted to the student teams chosen this year. The program is one of the largest privately funded business plan competitions at a U.S. university…”
Greenlighting Startups, a portfolio of five new and existing campus incubators, is uniquely designed to further speed the organic growth of company creation at CMU.
“The CMU initiative creates multiple portals through which the university can help turn research from award-winning professors and world-class students into thriving companies that provide new jobs and solve real-world problems. With Greenlighting Startups, CMU will be in a stronger position to serve as an engine for commercializing innovation, job growth and new business creation.”
Greenlighting Startups groups include the Center for Technology Transfer and Enterprise Creation (CTTEC); the Donald H. Jones Center for Entrepreneurship; Project Olympus; Quality of Life Technology Foundry; and the Open Field Entrepreneurs Fund (OFEF).
Read full press release [web]
CMU’s “Five Percent, Go in Peace” plan standardizes licensing terms for startups [web]
DHJ Center for Entrepreneurship [web]
Project Olympus [web]
Open Field Entrepreneurs Fund announcement [web]