Since MIT established the inaugural venture studio within an academic setting in 2019, it has illustrated how a systematic approach can aid in transforming research into significant enterprises.
Currently, MIT Proto Ventures is introducing the “R&D Venture Studio Playbook,” a tool designed to assist universities, national laboratories, and corporate R&D divisions in creating their own internal venture studios. The digital publication provides a detailed framework for constructing ventures from the ground up within research settings.
“There is a tremendous opportunity cost associated with allowing valuable research to remain dormant,” states Fiona Murray, associate dean for innovation at the MIT Sloan School of Management and a faculty leader for Proto Ventures. “The venture studio model systematizes research, making it organized rather than chaotic and coincidental.”
Larger than MIT
The newly released playbook surfaces as national interest in rejuvenating the United States’ innovation pipeline grows — a challenge emphasized by the reality that only a small proportion of academic patents ever achieve commercialization.
“Venture creation within R&D organizations, particularly in academia, has often relied on chance,” remarks MIT Professor Dennis Whyte, a faculty director for Proto Ventures involved in developing the playbook. “The aim of R&D venture studios is to eliminate randomness — to transform venture creation into a systematic operation. This is not just a necessity for MIT; it is essential for all research universities and institutions.”
In fact, MIT Proto Ventures is proactively disseminating the playbook to peer institutions, federal entities, and corporate R&D leaders aiming to enhance the translational yield on their research investments.
“We’re observing MIT’s Proto Ventures model with the vision of generating new ventures that boast both a robust tech push and a compelling market pull,” explains Mark Arnold, associate vice president of Discovery to Impact and managing director of Texas startups at The University of Texas at Austin. “By prioritizing market challenges first and establishing ventures with a supportive ecosystem around them, universities can hasten the transition of concepts from the lab into practical solutions.”
Contents of the Playbook
The playbook delineates the process of the venture studio model practiced by MIT Proto Ventures. MIT’s venture studio integrates full-time entrepreneurial scientists — referred to as venture builders — within research facilities. These builders collaborate closely with faculty and graduate students to identify promising technologies, assess market opportunities, and co-create new ventures.
“We consider this as an open-source framework for impact,” comments MIT Proto Ventures Managing Director Gene Keselman. “Our objective is not solely to establish startups emanating from MIT — it’s to motivate innovation wherever groundbreaking science is taking place.”
The playbook was crafted by the MIT Proto Ventures team — which includes Keselman, venture builders David Cohen-Tanugi and Andrew Inglis, alongside faculty leaders Murray, Whyte, Andrew Lo, Michael Cima, and Michael Short.
“This issue permeates various contexts, so we recognized if it proved effective there would be a chance to document how to construct a translational engine,” Keselman noted. “We’ve achieved enough success to confidently assert, ‘Yes, this is viable, and here are the essential components.’”
In addition to outlining fundamental processes, the playbook features case studies, sample templates, and guidance for institutions aiming to adapt the model to their distinct strengths. It underscores that building successful ventures from R&D necessitates more than mentorship and IP licensing — it requires intentional, sustained commitment, and a novel kind of translational infrastructure.
Operational Mechanics
A central element of MIT’s venture studio is structuring initiatives into specific tracks or problem domains — referred to as channels by MIT Proto Ventures. Venture builders operate within a single track that aligns with their skills and areas of interest. For instance, Cohen-Tanugi is involved in the MIT Plasma Science and Fusion Center, working in the Fusion and Clean Energy channel. His initial two venture successes include a venture utilizing superconducting magnets for in-space propulsion and a deep-tech startup focused on enhancing power efficiency in data centers.
“This playbook serves as both a call for action and a model,” asserts Cohen-Tanugi, principal author of the playbook. “We’ve come to realize that transformative inventions often remain on the lab bench not due to a lack of potential, but because no one is explicitly accountable for converting them into businesses. The R&D venture studio model addresses that gap.”