MIT Deshpande Center Spring Grant Winners Push the Envelope of Innovation

    CAMBRIDGE, Mass., March 23 /PRNewswire/ -- The Deshpande Center for
 Technological Innovation at the Massachusetts Institute of Technology (MIT)
 today announced it awarded grants totaling $600,000 to seven faculty research
 teams to help them find ways to commercialize their innovations.  The research
 projects include a revolutionary new way to weave fabric, a technology that
 will enable the next generation of flat-panel displays, a new way to mass-
 produce nanotechnology devices, medical implant coatings for "smart"
 sequential drug delivery, a way to dramatically accelerate discovery of new
 drugs, a breakthrough in production of fine chemicals, and a new liquid
 compound with extraordinary medical properties.
     "The Deshpande Center's mission is to provide funding and assistance to
 MIT innovators early in the discovery process to accelerate the academic,
 social and economic impact they can make with their ideas," said Krisztina
 Holly, Executive Director of the Deshpande Center. "We are thrilled to be
 supporting these innovative grant winners."
     Since 2002 the Center has awarded grants to 44 applicants totaling more
 than $4.9 million.  To date, two grant recipients have spun out as new,
 venture-capital-backed companies, another project has been licensed for
 commercial use, one team has received a critical patent on its innovation, and
 one team won the grand prize in the prestigious MIT $50K Entrepreneurship
 Competition last year.
     In addition to financial support, the Center's network of entrepreneurs,
 venture capitalists, and academic and legal experts helps recipients assess
 the commercial potential of their innovations and make decisions that
 accelerate progress toward development of a business plan or licensing
 strategy.  All projects are featured at the Center's annual IdeaStream
 Symposium at MIT in April.
     The Spring 2005 Grant Recipients are:
      -- Angela Belcher: Fast discovery of ion channel-targeting drugs
      -- Vladimir Bulovic: New light-emitting device for flat-panel displays
      -- Rutledge Ellis-Behnke: New compound stops bleeding instantly
      -- Paula Hammond: Implant coatings for sequential drug delivery
      -- Timothy Jamison: Fine chemicals in one step
      -- Samir Nayfeh: Short-warp weaving for fast-changing fashions
      -- Francesco Stellacci: Nano-contact device lithography
     About the MIT Deshpande Center for Technological Innovation
     The Deshpande Center is part of the MIT School of Engineering and was
 established through an initial $20 million gift from Jaishree Deshpande and
 Desh Deshpande, the co-founder and chairman of Sycamore Networks.  It serves
 as a catalyst for innovation and entrepreneurship by supporting leading-edge
 research and bridging the gap between the laboratory and marketplace.  The
 Deshpande Center supports a wide range of emerging technologies including
 biotechnology, medical devices, information technology, new materials, "tiny
 technologies," and environmental innovation.  Additional information on the
 Deshpande Center's grant program, research portfolio, and other
 entrepreneurial resources can be found on the website:

SOURCE Deshpande Center at The Massachusetts Institute of Technology

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