Innovation and Entrepreneurship (I&E)

The Boston Globe honored a number of MIT faculty and alumni in their Tech Power Players 50, a list of the “most influential – and interesting – people in the Massachusetts technology scene.” MIT honorees include Professor Yet-Ming Chiang, Senior Lecturer Brian Halligan, Professor Tom Leighton, Professor Silvio Micali, Katie Rae (CEO and managing partner for The Engine), and Professor Daniela Rus (director of CSAIL and deputy dean of research for the MIT Schwarzman College of Computing). 

Boston Globe reporter Aaron Pressman spotlights the work of Prof. Silvio Micali, who has been honored as one of The Boston Globe’s Tech Power Players 50 for his work in computer science and cryptography. “Micali decided to come up with a more elegant version of the underlying [cryptocurrency] technology, the public database of transactions known as the blockchain,” writes Pressman. “He formed a new startup, Algorand, to pursue a blockchain that would go far beyond bitcoin while reducing costs and electricity usage and speeding up transaction processing.”

Boston Dynamics founder Marc Raibert ’77 has been selected as one of The Boston Globe’s Tech Power Players 50 for his work in artificial intelligence and robotics, reports Hiawatha Bray for The Boston Globe. Raibert recalls how his fascination with developing robot legs was cultivated at MIT. “I went to a presentation where someone showed a very slow-moving legged robot,” said Raibert. “I thought, wow, people and animals aren’t anything like that. ... People and animals have such fantastic locomotion. That was a thing to try to emulate and achieve.”

Overjet, co-founded by Wardah Inam SM ’12 PhD ’16, has been awarded landmark clearance from the Food and Drug Administration to use their software aimed at detecting and outlining cavities in patients’ X-rays, reports Alexandra S. Levine for Forbes. “Everybody has had a dental disease,” says Inam. “People have had good and bad experiences. And moving the industry towards making [a] more clinically precise, efficient patient focus is something that will impact every person in the world.”

Boston Metal, an MIT spinout, has created a new manufacturing method that could help engineers reshape the way in which alloy is made, reports Marcello Rossi for The Atlantic. The process is “called ‘molten oxide electrolysis,’ in which a current moves through a cell containing iron ore,” explains Rossi.

Jerry Ting, co-founder and CEO of Evisort, found inspiration for the AI contracts provider company after working with fellow co-founder Amine Anoun SM ’17, reports Alexandra Sternlicht for Forbes. Ting “realized that firms bill hundreds of dollars per hour for lawyers to simply read documents” writes Sternlicht. “And like most startup founders, he imagined a better way.”

A new study co-authored by Prof. Pierre Azoulay finds that immigrants are 80% more likely to start businesses than people born in the U.S., reports Yasmin Amer for WBUR. "[Immigrants] create more firms pretty much in every size bucket," says Azoulay. "They create more small firms, they create more medium sized firms. They create more firms that will grow up to be very large."

Eureka Robotics, an automation company based in Singapore, has developed their products based on research from MIT and Nanyang Technological University, reports Catherine Shu for TechCrunch. “It [Eureka Robotics] focuses on robotic software and systems to automate tasks that require High Accuracy and high Agility (HAHA),” writes Shu. “Its robots are used for precision handling, assembly, inspection, drilling and other tasks.”

Forbes reporter Trond Arne Undheim spotlights the “Manufacturing at MIT Symposium: 2022 and Beyond” conference. “MIT appears to be renewing its manufacturing research and innovation efforts at a pivotal time, with a four-fold focus on technology, workforce development, policy efforts and innovation,” writes Undheim.

Financial Times reporter William D. Cohan profiles Robert Joseph Scaringe SM ’07, PhD ’09 and his personal and professional career in developing Rivian, an electric vehicle technology company dedicated to building vehicles that change the way we consume fossil fuels. “Scaringe has been pining to run his own car company since he was a 17-year-old growing up on the Atlantic coast of Florida, just south of Cape Canaveral. ‘If you were to go in my bedroom as a kid, you’d find [car] hoods under the bed and windshields in the closet,’ he says.”

Writing for The Boston Globe, Alex Amouyel, executive director of MIT Solve, makes the case that “innovation is about solving problems. And if innovation is about solving problems, what problems you are solving and who is setting about solving them is key.” Amouyel adds: “If we are going to get serious about solving world challenges, we all need to adopt more open and participatory systems to find, fund, and support innovators, wherever they may be.”

Prof. Yet-Ming Chiang ’85, Prof. Craig Carter and Throop Wilder co-founded MIT spinout 24M, which “will manufacture next-generation lithium-ion batteries using its cell technology,” reports Reuters.  

The Conversation spotlights Institute Prof. Robert Langer ‘74 who spoke at the 2022 Imagine Solutions Conference about his academic career and work applying his chemical engineering background to his research in health sciences. “I learned that if you’re not your own champion, nobody else will be,” says Langer. “So, I got involved in patenting things, and my students were very interested in seeing their work make a difference… My story is sort of one person’s example of how you can try to use science to help relieve suffering and prolong life.”

Bruce Anderson ’73, founder and CEO of MIT spinout 247 Solar, speaks with Bloomberg Baystate Business Hour host Janet Wu about the power of solar energy and growing climate concerns for the future. “We are facing dire circumstances here,” says Anderson. “We have no clue what the climate’s tipping point is where it all of sudden goes in a direction that we cannot recover from, no matter how much carbon we remove from the air."

Fast Company reporter Connie Lin spotlights how Algorand, an MIT startup founded by Prof. Silvio Micali, dimmed the lights in Times Square on April 21 to help conserve energy and demonstrate how cryptocurrency could reduce energy consumption. Algorand has developed a carbon-negative blockchain protocol and “utilizes a pure proof-of-stake consensus mechanism to verify authentic transactions.”