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September 27, 2016

MIT Corporate Relations and MIT Startup Exchange Announce STEX25 Launch

New startup accelerator focuses on  fostering startup and industry collaboration.

Karl Koster welcomes startup and industry participants at a recent MIT Startup Exchange workshop at
MIT's Industry Meeting Center.

MIT Corporate Relations and its integrated program, MIT Startup Exchange, are pleased to announce the launch of STEX25, a startup accelerator focused on fostering collaboration between MIT-connected startups and member companies of MIT’s Industrial Liaison Program (ILP).
 
STEX25 establishes an elite cohort of startup companies—25 from the 1,000+ in the MIT Startup Exchange database—that have proved themselves with early use cases, clients, demos, and partnerships, and may be on the cusp of significant growth. These young companies are particularly well-suited for industry collaboration, and therefore will be prioritized by the ILP when advising its members on startup engagement.

The first five startups to be inducted into STEX25 are Akselos, BioBright, Lexumo Inc., Poly6, and Tagup. Each quarter six to seven additional startups will be inducted into the program until a cohort of 25 is established.
 
“STEX25 companies have a strong science and technology foundation in important fields such as artificial intelligence, automation, energy, healthcare, ICT, Internet of things (IoT), life science, manufacturing, materials, nanotech, sensors, and more,” said Trond Undheim who directs the Startup Exchange. 

Infused with the high-caliber talent and cutting-edge technology that are the hallmarks of MIT-connected startups, these startups are poised to offer industry partners an injection of innovation and entrepreneurial spirit. 
 
“Helping MIT-connected startups get traction with large corporate players is a crucial step in technology commercialization,” said Karl Koster, Executive Director of the ILP. “Our members are very interested in meeting with the MIT Startup Exchange company founders, and these kinds of connections are vital to growing MIT’s innovation ecosystem.”
 

About MIT Startup Exchange, STEX25, and MIT’s Industrial Liaison Program (ILP)
MIT Startup Exchange actively promotes collaboration and partnerships between MIT-connected startups and industry. Qualified startups are those founded and/or led by MIT faculty, staff, or alumni, or are based on MIT-licensed technology. Industry participants are principally members of MIT’s Industrial Liaison Program (ILP).

MIT Startup Exchange maintains a propriety database of over 1,500 MIT-connected startups with roots across MIT departments, labs and centers; it hosts a robust schedule of startup workshops and showcases, and facilitates networking and introductions between startups and corporate executives.

STEX25 is a startup accelerator within MIT Startup Exchange, featuring 25 “industry ready” startups that have proven to be exceptional with early use cases, clients, demos, or partnerships, and are poised for significant growth. STEX25 startups receive promotion, travel, and advisory support, and are prioritized for meetings with ILP’s 230 member companies.

MIT Startup Exchange and ILP are integrated programs of MIT Corporate Relations.