MITdesignX is an academic program in the MIT School of Architecture and Planning (SA+P) and part of the MIT Morningside Academy for Design (MIT MAD). We are dedicated to design innovation and entrepreneurship and empower students, faculty and researchers to build new business ventures and forward-thinking solutions designed to address critical challenges facing the future of cities and the human environment.
MITdesignX
TURNING IDEAS INTO ACTION: VENTURE ACCELERATOR
MITdesignX provides resources to build new solutions, systems and ventures. Successful ventures exist at the intersection of design, business, science and technology. Interdisciplinary teams of creative thinkers and makers fast-track the development of their innovations and launch ventures into the marketplace. We turn ideas into action.
Reasons to Join
Venture Design
The accelerator is rooted on two customized interdisciplinary courses: (1) An intensive Bootcamp during the MIT winter semester (IAP) and (2) A 4-month accelerator program during the Spring term where teams and ideas evolve into startups. Using design thinking methodology, the courses present tools and strategies for entrepreneurs to test and build their ventures.
Academic Credits
Funding
Pilot Opportunities
Accelerator teams must engage in active market research and continuous prototyping of their core concept, venturing out to meet actual customers, users and stakeholders. The program encourages testing and retesting solutions in real-world settings. To enable this, MITdesignX and our partners, supporters and mentors help connect teams to pilot opportunities in the Boston/Cambridge area and around the world.
Workspace
We provide an exciting 24/7 work environment for our cohorts in a dynamic space located in the School of Architecture and Planning. After the Spring course, we help new startups find space in Cambridge, Boston, New York and beyond. Some startups also continue to use our space for the remainder of the calendar year.
Mentorship
Over 30 professionals with extensive experience in creating and leading ventures of various sizes and civic and business leaders provide in-depth guidance to MITdesignX teams. Their contribution includes assistance in general business strategy in addition to specific advisory support in technological, legal, financial and operational issues.
Network
MITdesignX teams have access to a vast network of academic and industry experts, alumni, civic and community organizations.
Community
We foster a culture of collaboration and creative problem solving. And we like to have fun! We are doing things we care about, because we think they will tangibly improve quality of life and the human environments.
Venture Design
The accelerator is rooted on two customized interdisciplinary courses: (1) An intensive Bootcamp during the MIT winter semester (IAP) and (2) A 4-month accelerator program during the Spring term where teams and ideas evolve into startups. Using design thinking methodology, the courses present tools and strategies for entrepreneurs to test and build their ventures.
Academic Credits
Participants in the MITdesignX Venture Accelerator receive a total of 18 academic credits. 6 in the IAP Bootcamp and 12 in the Spring semester course.
Funding
Each team in the accelerator receives a $10,000 equity-free no strings attached grant for project related expenses. Specific details on the distribution and rules governing the distribution of funds is found in our FAQ page.
Pilot Opportunities
Accelerator teams must engage in active market research and continuous prototyping of their core concept, venturing out to meet actual customers, users and stakeholders. The program encourages testing and retesting solutions in real-world settings. To enable this, MITdesignX and our partners, supporters and mentors help connect teams to pilot opportunities in the Boston/Cambridge area and around the world.
Workspace
We provide an exciting 24/7 work environment for our cohorts in a dynamic space located in the School of Architecture and Planning. After the Spring course, we help new startups find space in Cambridge, Boston, New York and beyond. Some startups also continue to use our space for the remainder of the calendar year.
Mentorship
Over 30 professionals with extensive experience in creating and leading ventures of various sizes and civic and business leaders provide in-depth guidance to MITdesignX teams. Their contribution includes assistance in general business strategy in addition to specific advisory support in technological, legal, financial and operational issues.
Network
MITdesignX teams have access to a vast network of academic and industry experts, alumni, civic and community organizations.
Community
We foster a culture of collaboration and creative problem solving. And we like to have fun! We are doing things we care about, because we think they will tangibly improve quality of life and the human environments.
THE MITDESIGNX VENTURE ACCELERATOR IS A NEW APPROACH TO DESIGN INNOVATION, ONE THAT IS BASED ON CREATIVE OPTIMISM, AND THAT WORKS CLOSELY WITH PARTNERS AND STAKEHOLDERS. THE PROGRAM IS A LAUNCHING PAD FOR STUDENTS, RESEARCHERS, AND FACULTY IN SA+P, AND THEIR COLLABORATORS ACROSS THE MIT COMMUNITY AND AROUND THE WORLD. WE TAILOR A SERIES OF DESIGN AND BUSINESS CLASSES, PROVIDE ACADEMIC CREDITS, GRANTS, WORKSPACE AND A WIDE NETWORK OF DEDICATED MENTORS, BUSINESS, INSTITUTIONAL AND GOVERNMENT CONTACTS AND FUNDING SPECIALISTS TO BUILD NEW VENTURES.
WHAT ARE WE LOOKING FOR
We look for creative innovators dedicated to improving the quality of life in cities and the human environment. MITdesignX seeks diverse, interdisciplinary teams working on challenging ideas with clear vision, passion and a drive to design solutions and launch real ventures.
Each Fall, applicants go through a rigorous selection process that reviews venture designs and ideas based on human and social impact, feasibility, uniqueness, and scalability as well as team composition, diversity and skillset. Finalists pitch before a panel of judges to enter the program.
Applicants may include graduate students, researchers, staff and/or faculty members from SA+P, MAD and their collaborators from across MIT, other universities and beyond.
Previous teams in MITdesignX have included participants from across MIT including SA+P, computer science, engineering, management, biology, and the humanities.
VENTURE DESIGN IN PRACTICE: ACADEMIC FRAMEWORK
Understand
What is the problem/need that needs to be solved, and who will benefit from a solution and how.
Needs Analysis
Market
Segmentation
Segmentation
Stakeholder Map
Value Proposition
Clearly stating a problem, need or opportunity based on interviews and research.
Identifying customers that have a determined need.
Mapping all potential stakeholders who are affected or affect a need or solution.
Determining why/how a customer or user will benefit from a solution.
Ensuring an effective product or service is created to address an identifed need.
Design, build, and test elements of a solution.
Mapping of the entire process that the user takes when using your solution.
Applying design specifications to a product or service to maximize user interaction.
Problem Solution Fit
Prototyping
User Journey
Product UI/UX
Solve
What is the solution, what must it do, and how will it be used.
Envision
What are the values and structure, and who are the people who will envision the goals of a venture or solution.
Stating what a venture is aiming to achieve and what they are doing to get there.
How a venture creates, delivers and captures value, and how its revenue is generated.
How a venture engages with customers and delivers value.
Buidling an organizational culture to accompany the growth of a startup.
Vision and Mission
Business Model
Go to Market
Team Dynamics
Action Plan
Financial Plan
Funding Strategy
Storytelling
A goal-oriented plan of action to efficiently and effectively scale a venture.
Determining the revenue and expenses required to operate a venture.
Developing a plan for capital investment and funding for a venture or new product line.
Communicating a solution to generate interest, investment and/or sales.
How will a venture be funded, launch and scale.
Deploy
MITDESIGNX TEAMS DESIGN VENTURES. THEY CREATE A VISION, SYSTEM, STRATEGY, AND BUSINESS MODEL AND BUILD PROTOTYPES THAT EXPLORE THE FEASIBILITY AND FUNCTION OF THEIR IDEAS AND SOLUTIONS. OUR ACADEMIC FRAMEWORK CONSISTS OF FOUR STEPS. EACH STEP INCLUDES A SET OF INTEGRATED MODULES WHERE TEAMS EXPLORE TOPICS THROUGH WORKSHOPS, LECTURES, PINUPS, MENTOR SESSIONS, SITE VISITS AND DIRECT CUSTOMER INTERACTION.
The first step of the framework is to understand the need or problem the new venture is being designed to solve. The teams engage directly with people and stakeholders to learn as much as possible about who they are, and what are their needs and pain points. Based on that understanding, the second step is to clearly define the core concept/function/product/service that will provide the required solution. The third step is to envision what the venture and its founders want to achieve, and define the fundamental principles that will guide their decision making, development and operations including financing of the venture. The fourth and final step is focused on developing a master plan of priorities, people, processes and funds needed to effectively deploy and scale the venture.
At the end of the program, all teams will have developed a prototype, investor pitch deck and a “masterplan” for their venture – outlining key actions and strategies. The accelerator program culminates with a pitch night for teams to introduce their ventures to hundreds of investors, stakeholders, civic and industry partners.
RESEARCH
Research is at the core of the MITdesignX program. The academic framework of the accelerator is reinforced by discovery of new knowledge through rigorous research and learning experiences examining disruption and innovation within the design and urban domains. Co-creation, collaboration, and the exploration of ideas fuel the discovery process and aid the innovative strategies of MITdesignX teams. This discovery process draws on advanced research projects led by faculty and researchers focused on entrepreneurial performance, education for innovation and design solutions for cities and the human environment.
INTERNSHIPS
During the summer and IAP, we work with MISTI to support internship opportunities in Reykjavik, Dubai, Tel Aviv, Venice and Hong Kong.
Contact us for more information.
GLOBAL IMPACT
Our work and the work of MITdesignX ventures is designed to have a global impact. Through several international partnerships, we expand academic and venture networks for our students, faculty and researchers. Projects include our workshop with the MIT Hong Kong Innovation Node, social venture workshop with the University of Iceland, accelerators in Venice with SerenDPT, and in Dubai with DIEZ, Dtec and GGH, and a collaboration with OGS and MISTI working with Israeli and Palestinian entrepreneurs. And of course, MITdesignX ventures create their own impact with their work around the globe.