Harvard University plans to invest more in getting its ‘tough tech’ startups out of the lab and into the hands of consumers.
The university announced Wednesday the launch of The Grid, an accelerator that will help Harvard researchers and students turn their research into startups aimed at solving the world's most biggest problems. The new program will give emerging entrepreneurs funding, physical space, educational programming and connections to alumni, investors and the broader startup ecosystem.
The Grid is a collaboration between the Harvard John A. Paulson School of Engineering and Applied Sciences (SEAS) and the Harvard Office of Technology Development (OTD) and will be located at the recently built Science and Engineering Complex in Allston.
“Early-stage academic research often requires translational development that is beyond the scope of traditional government research funding,” Isaac Kohlberg, Harvard’s chief technology development officer and senior associate provost, said in a statement. “The Grid provides the infrastructure and environment for Harvard researchers to advance their innovations and create more impactful startups.”
Paul Hayre is set to lead The Grid as its inaugural executive director. Hayre is the co-founder and board member of SANO Diagnostics was previously the CEO of incasa Healthcare and VP of strategy and market development at Medline Industries Inc.
As The Grid gears up for fall semester, SEAS and OTD said the accelerator will initially offer support in four ways. It will provide "translational awards" to support Harvard faculty-led research projects on the verge of commercial viability and give workspace to selected teams. The Grid will also make available onsite advisors who are knowledgeable about startup formation, fundraising, IP strategy, licensing, business development and other topics.
The Grid will also launch educational programming for undergraduate and graduate students, postdocs and faculty about translational and entrepreneurial skills.
The goal is to build on the success of Harvard’s Physical Sciences and Engineering Accelerator. Since 2013 the accelerator has given birth to 16 startups who have gone on to raise $150 million. This accelerator has merged with The Grid. Harvard said this will give startups in the accelerator greater access to grants and space within the Science and Engineering Complex.
“The Harvard Grid will be a focal point for translational activities in the sciences and engineering,” said Frank Doyle, the John A. Paulson dean of SEAS. “It will help nurture a new generation of Harvard entrepreneurs and innovators and represents an important milestone in our mission to bring technology and talent to solve real-world problems.”
