MIT Startup Exchange is pleased to announce the addition of six companies to its roster of STEX25 startups for its current cohort:
“This cohort of STEX25 startups, alongside our many successful alumni startups, continue to produce exceptional technologies with much practical B2B application. These MIT-connected startups showcase innovations of the Institute and attract much interest from our corporate ILP member companies, often resulting in advanced discussions, pilots, and partnerships,” said Executive Director of MIT Corporate Relations Karl Koster. “Our corporate members rely on MIT Startup Exchange and the STEX25 accelerator program to provide a vetted resource for effectively engaging with startups and the innovation ecosystem.”
“Continued industry engagement with our STEX25 program highlights the importance of incorporating startups into an organization’s business model. While our startups have enjoyed valuable industry connections and collaborations, members of the Industrial Liaison Program have also learned much from our startups on technologies and capabilities to remain agile and future-proof their businesses,” said MIT Startup Exchange Program Director, Marcus Dahllöf.
The Institute’s sustained devotion to cultivating innovation is only exemplified by MIT Startup Exchange and its ability to create tangible connection between startup technologies and industry’s market needs. According to Steve Whittaker, head of strategic US university research partnerships at BT, “MIT's increased focus on the larger innovation ecosystem helps us to understand the emerging patterns of the innovation economy look, the roles we want to play in it, and our opportunities. We’ve been very supportive of Startup Exchange from the beginning. When MIT decides to do something like this, it does it properly, with a supported professional framework for doing it at scale and over the long term.”
The combination of ILP and the Startup Exchange is unparalleled when it comes to connecting corporates to innovative startups that can help corporates to adapt to the challenges with new technologies.
Industry leaders continue to see deep value in these startup connections. According to Luke Park, a senior research engineer at Doosan Heavy Industries & Construction (DHI), “The MIT connection is a stamp of credibility that the technology has been tried and tested at the Institute… The combination of ILP and the Startup Exchange is unparalleled when it comes to connecting corporates to innovative startups that can help corporates to adapt to the challenges with new technologies.”
On the startup side, our STEX25 alumni companies have especially seen much benefit within our network, siting ease of exposure and introductions to solve industry challenges. Natan Linder, cofounder and CEO of STEX25 alumni Tulip, speaks to the matchmaking process: “ILP made the right introduction, with the right match between what the company was looking for and what we were doing. Overall, we get great introductions and showcases where we can put on a demo and get a lot of facetime exposure to many companies at once. The STEX25 program has been invaluable to us at this stage in our development.”
David Schatz, vice president of product management of STEX25 alumni WiTricity, also iterates the importance of these interactions for business: “As a newly formed startup spun out of MIT, we benefited tremendously from the chance to meet potential customers at ILP-sponsored events and by introductions made to their member companies.”
This particular new cohort brings exciting expertise to the STEX25 portfolio with great promise for industry collaboration. Startup Exchange Program Director Dahllöf iterated: “The six startups joining us further develop many key technologies that are important for industry. 3D printing, hydrogen, high performance computing, retail, and drug development – just to name a few – are all areas where we have seen many successful startups and incredible advancement since the inception of STEX25 five years ago. The new STEX25 startups impress us as they continue to innovate those technologies to create solutions to new use cases. As always, we feel fortunate to be part of these startups’ journey together with other key MIT ecosystem players, such as The Engine, Lincoln Labs, and the MIT Venture Mentoring Service.”
STEX25 is a startup accelerator run by MIT Startup Exchange featuring 25 "industry-ready" startups. MIT Startup Exchange adds startups to STEX25 on a roughly quarterly basis, from among more than 2,000 MIT-connected startups. STEX25 startups receive promotion, travel, and advisory support, and are prioritized for meetings by the MIT Industrial Liaison Program’s (ILP) industry liaisons. STEX25 companies collaborate with ILP corporate members through targeted Startup Exchange workshops and showcases, exhibits at ILP conferences, and other events tailored towards industry. Amidst the changes of the pandemic, MIT Startup Exchange is also offering extensive programming of highly-interactive virtual workshops and webinars to engage and connect startup and corporate audiences.