Innovation: 2017 Style

fuse_2Here in Massachusetts, we tend to get somewhat of an inferiority complex. Maybe it’s those Puritan roots. We have it stuck in our heads … “Boston’s not as big as NYC” or “We’re not as innovative as Silicon Valley” …

Wait?! Bloomberg says that Massachusetts is the most innovative state in America … for the second year in a row? That’s pretty cool. Take that inferiority complex!

According to the Bloomberg ranking, Massachusetts scored 95 out of a possible 100 points, followed by California, Washington, New Jersey, and Maryland. The six equally weighted metrics included:

  • R&D intensity;
  • Productivity;
  • High-tech density;
  • Concentration of science, technology, engineering and mathematics (STEM) employment
  • Science and engineering degree holders; and
  • Patent activity.

Massachusetts earned the ranking by producing more science and engineering jobs and by creating jobs in those industries. Current figures show a 2.9% unemployment rate in Mass, compared to a 4.6% national average. The state’s universities were also noted, included Harvard and MIT.

At MIT’s Martin Trust Center, we have the privilege of seeing that innovation every day.  And, it’s the type of innovation gets spread around the world. CES, the annual Consumer Electronics Show in Las Vegas is known for attracting and showcasing the world’s latest and greatest consumer innovations.  This year, atwoboo least eight companies with MIT roots showed off their cutting-edge products at the show. One of those, Woobo, is an alumnus of our MIT student venture accelerator program (now known as delta v). The company is using robotics and artificial intelligence to make a smart “imaginary friend” for young children and plans to launch the product this year.

Another MIT accelerator program alumnus, Accion Systems, was honored recently in BostInno’s 17 Startups to Watch in 2017. Definitely not in the consumer accionrealm, Accion is developing revolutionary propulsion for satellites which will make space more accessible and affordable across industries. The company itself is seeing quite a bit of propulsion here in Massachusetts, with funding from the Department of Defense and a Series A round last year, along with numerous awards.

img_0424And, here’s something pretty cool that’s happening in innovation right now: is MIT fuse program.  MIT fuse is the Trust Center’s entrepreneurial program that takes place every January during Independent Activities Period (IAP), which is January 9 to February 1 this year. The MIT fuse teams essentially take over the Martin Trust Center during these three and a half weeks, receive mentor advice from our Entrepreneurs in Residence, and learn from startup founders who have preceded them.

One intriguing company in the current MIT fuse program is Waypoint Labs.
Waypoint is building a platform for creating and extracting spatial data and insights for augmented reality (AR) applications. One possible applicawaypoint-labstion is using the Microsoft Hololens to enable non-pharmacy hospital staff to fill prescriptions quickly and without errors. The company was invited by AT&T to participate in its inaugural AR/VR Challenge at CES 2017, where it won the $20K grand prize after demoing its prototype to over 250 conference attendees.

At MIT, the students we mentor want to make a positive impact in the world, and our programs give these students the opportunity to do so.  Here’s to an innovative 2017!

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