A longtime technology investor, Jean-Jacques Degroof has extensive experience teaching entrepreneurship in Belgium. Having written a book on the history of the Massachusetts Institute of Technology (MIT) and its emergence as an incubator of innovation, Jean-Jacques Degroof has a strong interest in MIT milestones, past and present.
In early 2023, the MIT Gas Turbine Laboratory (GTL) celebrated its 75th anniversary. The lab’s inception came in 1941 when the National Academy of Sciences created a committee focused on evaluating gas turbine engines, as a way of employing heat released by fuel combustion in aviation to generate thrust and propulsion. At the time, the appointed committee was of the opinion that gas turbines would not fulfill such a role, given temperature limitations inherent in the available materials. Unknown to the committee, Germany had already created the first jet engine, the Junkers Jumo, through a turbine cooling approach. This, plus British efforts in the field, led Professor Jerome C. Hunsaker to corral funding support from the U.S. Navy and companies across six industries. The Gas Turbine Laboratory was formally launched in 1947 under the aegis of founding director Professor Edward Story Taylor. This began a trajectory that has seen it apply leading-edge technologies to applied research on ways to make jets ever more safe and efficient. Current GTL projects cut across a range of disciplines and organizations, with a recent example being MIT researchers working to design a fuel-efficient aircraft that was ultimately tested in a large NASA wind tunnel facility.
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Having taught entrepreneurship and innovation in Belgium, Jean-Jacques Degroof pursued research at the Massachusetts Institute of Technology’s (MIT) Sloan School of Management. Also an author, Jean-Jacques Degroof wrote “From the Basement to the Dome: How MITs Unique Culture Created a Thriving Entrepreneurial Community.”
One pivotal moment in MITs transition to its current status as an innovation-focused research institution came in 1941, with the recruiting of Professor Vannevar Bush by President Franklin Roosevelt as head of the Office of Scientific Research and Development (OSRD). The Raytheon founder and head of engineering at MIT worked to mobilize top engineers and scientists in preparation for potential US entry into World War II. Rather than conducting original research, OSRD awarded resources to various institutions, and MIT was a major beneficiary. One of the primary contractors that drove wartime innovation, MIT earned the nickname “Pentagon of the Charles.” One of the most significant achievements involved MIT researchers at the radiation laboratory (Rad Lab) designing much improved radar systems, which was instrumental in winning the war. Jean-Jacques Degroof is an entrepreneurship professor who has instructed in innovation management at schools in Belgium and across Europe. Also associated with the Massachusetts Institute of Technology (MIT), Jean-Jacques Degroof holds a management doctorate earned at the institution and is the author of “From the Basement to the Dome: How MIT's Unique Culture Created a Thriving Entrepreneurial Community.”
One aspect of MIT’s evolving mission in the mid-20th century centered on President Karl Compton, who took the reins of the institution in 1930 and built new research-focused departments based on the concept of “academic work with commercial potential.” Initially, MIT researchers who made headway on new technologies relied on local individuals and families for the financing of new companies based on their scientific insights. This was not efficient in driving real world innovation, and it was determined that growth enterprises needed their own institutional capital funding sources. It was this insight that birthed an early system analogous to today’s venture capital system. Unfortunately, World War II intervened before this concept fully reached fruition, and it was not until after the war that time and money could be allocated toward non-defense projects envisioned by Compton, bolstered by the regional economy-focused New England Council. Jean-Jacques Degroof is an MIT Sloan School of Management fellow who has spent time working in Belgium and throughout Europe. He is also author of the book From the Basement to the Dome: How MITs Unique Culture Created a Thriving Entrepreneurial Community. Exploring the ways in which the Massachusetts Institute of Technology’s mission and practice evolved in the 20th century, Jean-Jacques Degroof’s book casts a focus on the 1930s as a pivotal era of transition.
During this time period, the traditional polytechnic approach was shelved by experimental physicist and president of MIT Karl Compton, with the focus shifting to research. This positioned MIT to emerge as a key contributor to innovative World War II technologies. A second conceptual change was centered on the idea that science could generate new industries in ways that revitalized the local economy. Examples of institutional-corporate synergy Compton drew from included the entrepreneurial arc of Professor Vannevar Bush, who founded Raytheon in 1922 and took a position as head of MIT’s new engineering department a decade later. He took this concept to the New England Council, which was involved in industry, academia, and government, and proposed a strategy focused on new venture companies that would coexist with or supplant existing industries that were in decline. Jean-Jacques Degroof has a background as a fellow of the MIT Sloan School of Management and has authored the book "From the Basement to the Dome: How MITs Unique Culture Created a Thriving Entrepreneurial Community." One aspect of the institution's 20th-century evolution that Jean-Jacques Degroof examines centers on the ownership and patenting of intellectual property.
A key debate point was whether academic publications should be prioritized or delayed until patents have been obtained. The risk was that unpatented research could easily be stolen once it was made public. In 1932 MIT established the Committee on Patent Policy, which allowed patents only in situations where the invention or discovery had been made in the course of academic work and showed "substantial promise." This patent policy represented one of the earliest initiatives at an American institution. It was intended to structure MIT's relationship with the corporate world and not enable technology transfer. However, it ultimately bolsters faculty members' commercial pursuits, with licensing activities coming to the forefront that inspired other entrepreneurs in academia. Originally from Belgium, Jean-Jacques Degroof is a Massachusetts Institute of Technology (MIT) graduate. In his career as an independent venture investor and teacher, Jean-Jacques Degroof supports innovation at MIT.
A major hub of innovation, MIT announced that one of its professors discovered a way to increase crop yields by replacing synthetic fertilizers with natural microbes in spring 2022. Augustine Zvinavashe, PhD, has been researching a microbe delivery platform designed to reduce pollution, improve seed resistance, and raise crop yields. In the backdrop of this innovation, climate issues and an agriculture industry struggling with crop yields have created a situation where farmers must rely on synthetic fertilizers to boost food production. However, Dr. Zvinavashe’s invention would enable higher crop yields without dealing with the negative impact of fertilizers. Moreover, increased crop production is needed in an era when the population is projected to increase by 30 percent, requiring crop production to increase by approximately 70 percent by 2050. His idea involves enriching the soil using living microorganisms, or microbes, to coat seeds. The microbes are released into the soil once planted, which encourages the release of nutrients (phosphorus, potassium, and nitrogen) in the soil and thus promotes plant production. This works in soils with environments inhospitable to growth. Dr. Zvinavashe did this with the help of the MIT Sandbox Innovation Fund Program. His venture Ivu Biologics received $25,000 funding, and he received mentoring support for the venture that stands to revolutionize agricultural farming. Venture investor Jean-Jacques Degroof has many years of experience as an entrepreneur in various endeavors. Jean-Jacques Degroof also coaches students at the Massachusetts Institute of Technology who have entrepreneurial projects, some of which try to translate brain research conducted at the Picower Institute for Learning and Memory into products solving problems for patients suffering from illnesses such as Parkinson or Alzheimer.
One aspect of brain research involves imaging tissue samples. Large tissues like those in the brain require repeatedly infusing the sample with antibody labels via probe, which can break down the sample over time. To protect these tissues, researchers at the Picower Institute have developed a substance known as ELAST. ELAST uses a chemical known as polyacrylamide, which creates a flexible gel-like substance that is nearly indestructible. Brain tissues and other large organ samples are then infused into a small amount of ELAST, making them viable for many rounds of labeling and testing. In a study published in Nature Methods journal, the research team was able to stretch human and mouse brain tissues to twice their original size and also compress them to one-tenth their normal thickness. They then returned them to the original proportions with virtually no distortion of the sample. A venture investor and innovation management teacher with a background in Belgium, Jean-Jacques Degroof graduated from the Massachusetts Institute of Technology (MIT). Maintaining a strong connection with his alma mater, Jean-Jacques Degroof is author of From the Basement to the Dome: How MIT's Unique Culture Created a Thriving Entrepreneurial Community.
In the foreword, an MIT graduate (and inventor of the Ethernet) recounts his first experience visiting MIT in the mid-1960s. At the time, the institution was not yet known as an “entrepreneurial hotbed.” While formal programs and entrepreneurial courses were lacking, a unique combination of creativity and rigor were already in place. Jean-Jacques Degroof terms these a “secret sauce” of elements, including the school’s founding ethos and professors’ willingness to research and mentor in leading-edge areas. These provided a ground-up ecosystem for innovation that has proven to be both impactful and extremely challenging to replicate. As the author of the forward notes, this model of creating a thriving entrepreneurial center is one that emphasizes an interdisciplinary approach, and effectively combines management courses with science and engineering offerings. As he sees it, this approach is leading MIT toward a further evolution as a technology powerhouse and “innoversity.” A seed investment helps a new company enter the development stage when ideas move closer to becoming realities. Companies use seed investment money to launch a specific product or service or enter a new market. Business owners typically give seed investors a piece of the company's ownership or a share of the earnings in exchange for this funding.
A seed round of funding is usually required to get crucial components of a company up and running. This funding help startups grow to the point where they can attract venture capital. Getting the seed round of investment in today's crowded digital start-up scene is becoming increasingly difficult. In the past, many companies relied on their founders' personal assets, family members, and friends for their seed money. Today, seed funding for tech startups is considerably more difficult to acquire, making bootstrapping a more challenging undertaking. With bootstrapping, the startup launches with very little capital and relies on internal funding. The startup is often run on its operating profits or by funds provided by its internal stakeholders. Due to the high cost of starting a tech firm, some companies seek investors at the seed stage of fundraising. Tech companies are among the most common startups, so it can be difficult to stand out in the seed round of fundraising. Angel investors could serve as seed investment providers for startups. They are high net worth individuals who invest seed capital in businesses in exchange for a share of the company's ownership. Many angel investors use convertible debt, which permits cash to be converted into stock. Convertible debt has the advantage of deferring the company's value to the next round of funding. The loan is converted to stock at that point, and the angel investor receives a “first investor” discount. Depending on the nature of the startup, seed funding from big tech companies may be an option. Many established organizations view startups as sources of new talent and ideas. Consequently, these big tech companies may provide seed money to companies with high-growth potential. For early-stage companies, research and development are critical. Based on the outcome of studies, an early business may shift its main idea to appeal to a larger market. Seed capital can enable a company to thoroughly assess its product or service, ensuring that a market will exist for it when it launches. Startups need infrastructure and personnel to develop a successful team. Seed investments enable a founder to seek assistance in the form of manpower acquisition, allowing the startup to reach the market faster and more efficiently. A start-up’s capacity to form partnerships with investors who have its best interests at heart is key. Some investment organizations give startups an edge over their competitors by giving them access to entrepreneurial resources. These resources may include the investor's network for future investment rounds and market assessment. Finally, the startup path is lengthy and difficult, requiring great perseverance and dedication. Investors place a premium on teams whose members have previously faced the issue they are working on. This enhances the probability that they will continue with the project through lows and discouraging points. Entrepreneurs who have a personal and deep understanding of the problem they attempt to solve are more likely to build a successful solution since they are familiar with the intricacies and complexities that their invention must address. MIT’s first president, William Barton Rogers, founded the Institute in 1861. He came up with the concept for it many years before, which he expressed in a letter he sent to his brother in 1861, where he described his idea for a “new polytechnic institute.”
William Barton Rogers was born and grew up at William and Mary College in Williamsburg, Virginia. His father was an Irish immigrant and a professor of chemistry and physics. Although he never got a degree, he studied at the college where his father lectured. However, when he was 24 years old, he took over his father’s chair after the latter died. He became known as a good lecturer and speaker. Rogers began with a focus on basic physics problems like the production of dew and the way current obtained from voltaic cells behaved, but he quickly moved on to geological issues, which earned him a certain amount of fame. He served as a professor of natural philosophy from 1828 to 1835, when he was chosen as the University of Virginia’s chair of natural philosophy. He added geology and mineralogy to the school curriculum, conducting his own original research in chemistry and geology. In the same period, he was assigned to oversee Virginia's first geological survey. In his new position, Rogers, along with his brother Henry, a Pennsylvania state geologist, collaborated on extensive studies of the Appalachian area from 1835 to 1842 while still teaching. They conducted a comprehensive survey where they examined water as a solvent and its specific geological effects, as well as its influence on plant development. In 1853, Rogers resigned from his post at the University of Virginia and relocated to Boston. His purpose was to increase his participation in the scientific community and solicit help to establish a technical education institute. He was a long-time supporter of technical education, and had well-developed plans to build an institution in the state as a southerner. However, the southern students were distracted and more focused on the politics surrounding the Southern States’ impending departure from the Union. Roger’s wife, Emma Savage, was New England-born, and this fact pushed him to consider locating the institution he wanted so much near Boston. Furthermore, a militant student had recently assassinated a friend of Rogers, who was pro-Union. Rogers, a calm man, heeded his wife’s advice and located the school in Boston. He lectured at the Lowell Institute to raise awareness about MIT and raise funds. The fundraising was successful, and the Massachusetts Institute of Technology was formed by a charter thanks to his efforts. He served two terms as the president of MIT - one from 1862 to 1870 and another from 1879 to 1881. Rogers suggested that the Institute should stay in the city indefinitely, avoiding Cambridge because Harvard students were known to be rowdy and unruly. That reputation was one he didn’t want to be associated with his new school. Rogers was in his mid-70s when he assumed office at the academy. He was often unwell, and he had to step away from his duties on multiple occasions. He died unexpectedly in 1882 while delivering diplomas at a graduation ceremony in Boston. |
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