Powered by the prestigious MIT Innovation Initiative and established in October 2019, the groundbreaking MIT Proto Ventures program revolutionizes venture creation within the academic ecosystem. This innovative initiative guides the accelerated development of new startups through their complete lifecycle: from initial concept discovery and resource identification to thorough exploration of problem-solution frameworks, followed by systematic risk mitigation and finally building a sustainable "proto venture" with both internal and external backing that clearly demonstrates commercial viability.
Under the guidance of MITii Venture Builder Luis Ruben Soenksen PhD '19, the program recently announced the launch of two innovative MIT startups emerging from this unique AI-focused venture formation initiative.
"The Proto Ventures program has equipped me with everything necessary to develop high-impact scientific ventures in today's rapidly evolving technological landscape," explains Soenksen. "This experience has been an exceptional complement to my PhD studies and research at MIT, propelling me to pursue my passion for artificial intelligence and healthcare through multiple startup ventures. It's beyond what I could have imagined possible."
During its inaugural year, the Proto Ventures program has facilitated hundreds of ecosystem connections and evaluated 319 potential concepts to identify the high-impact proto ventures capable of attracting sustained collaboration with numerous faculty members, students, and staff throughout MIT.
The program hosted its pioneering AI+Healthcare forum in February, assembling 48 representatives from corporations, startups, venture capital firms, local hospitals, pharmaceutical companies, and MIT researchers. Thirty-eight carefully selected "proto venture" concepts were examined through roundtable discussions, expert panels, and a structured voting process to gather multi-sector insights on the potential value and impact of proposed ventures at the intersection of artificial intelligence and healthcare.
Two groundbreaking AI healthcare startups emerged from the program's AI+Healthcare track, sponsored by MIT's Abdul Latif Jameel Clinic for Machine Learning in Health (Jameel Clinic):
Moving forward, Jameel Clinic will oversee daily management of this AI+Healthcare channel, promoting and accelerating these proto ventures alongside future program launches.
MIT Innovation Initiative is actively recruiting new Venture Builders to develop additional channels within the MIT Proto Ventures program.
"The MIT Venture Builder position represents one of the most exciting entrepreneurial opportunities within the MIT community," states MIT Innovation Initiative Executive Director Gene Keselman. "It provides a unique platform to explore and leverage the Institute's extensive resources, connecting people and organizations that might not otherwise collaborate, to rapidly explore, invent, iterate, and launch transformative ventures."
Explore the MIT Proto Ventures Program or contact [email protected] for more information, including details on becoming a channel sponsor or the next Venture Builder.
