The Deshpande Foundation recently launched a new initiative, the Merrimack Valley Sandbox (MVS). MVS is based upon the success of the foundation's initiatives at MIT and in Northwest Karnataka, India. This is a new initiative of the foundation to develop and enhance an innovation ecosystem in the cities of the Merrimack Valley of Massachusetts, including Lowell, Lawrence and Haverhill.
The objective of the Sandbox is to help the cities of the Merrimack Valley as they transition from the industrial economy into the New Economy. This will include supporting innovation by individuals, institutions, non-profits, companies and entrepreneurs to address the challenges of the region. It will also include identifying and empowering a large number of leaders who are dedicated to the welfare and development of the region. The foundation seeks to transform the region into a place where entrepreneurs and civic leaders are rapidly identifying solutions to local problems and implementing them for the benefit of their communities and society at large.
The Deshpande Foundation plans to launch several initiatives as part of the Merrimack Valley Sandbox:
• A partnership with the four colleges in the region – UMass Lowell, Middlesex Community College, Northern Essex Community College and Merrimack College to promote entrepreneurship by college students. The goal of this program is to provide students an opportunity to discover their passion, develop project management skills, and understand that entrepreneurship is a career option for them to undertake. Read about our Campus Catalyst Program here.
• Leadership development programs across the community, including young non-profit professionals, entrepreneurship training for aspiring business and social entrepreneurs; and intensive executive education for non-profit leaders in the area. This will also be done in partnership with local colleges and non-profits.
• A leadership program to engage emerging leaders in the region to understand regional challenges and to engage them, their employers and their networks in the improvement of the region.
• A large-scale effort to provide technical and managerial support to a large group of commitment entrepreneurs through entrepreneurial mentoring and incubation services.
• Support innovative non-profit organizations, such as Teach for America, that are working in the region to make a difference.
• Partner with philanthropic organizations, like The Boston Foundation, that have a presence in that area and have common goals with the Deshpande Foundation.
US - MIT Deshpande Center for Technological Innovation
In 2002, Desh and Jaishree Deshpande made a donation to the MIT School of Engineering that enabled the creation of the Deshpande Center for Technological Innovation. The Deshpande Foundation was established to increase the impact of MIT technologies in the marketplace and achieves its mission through several approaches: Grant Program, Catalyst Program, Innovation Teams (i-Teams) and Events.
The Center supports a variety of emerging technologies, including biotechnology, biomedical devices, information technology, new materials, tiny tech, and energy innovations. The Center depends on the financial and professional support of successful alumni, entrepreneurs, and investors to provide a sustainable source of funding for innovative research and guidance to help it reach the marketplace.
Since our first request for proposals in September 2002, we have reviewed 500+ proposals, from over 250 faculty. Since 2002, The Deshpande Center has funded more than 80 projects with over $10 M in grants. 18 projects have spun out of the center into commercial ventures, having collectively raised over $140 M in outside financing. Thirteen venture capital firms have invested in these ventures. The Center has supported 200+ faculty and their students, from a diverse array of departments across campus, and the Center has engaged 100+ volunteers from the venture and entrepreneur community.
Sandbox: India - North Karnataka
The Sandbox is a geographically defined area of Northwestern Karnataka that centers on the sister cities of Hubli-Dharwad. The Sandbox encompasses five districts: Belgaum, Dharwad, Gadag, Haveri, and Uttar Kannada, and is home to about 10 million people. Within the Sandbox, our work is housed at the Deshpande Center for Social Entrepreneurship and focuses on grantmaking, entrepreneurship, and leadership development. We believe that when an innovative mindset, leadership and infrastructure support are combined, change happens.
The Hubli Sandbox taps into a diverse advisory network that includes collaborators from universities, companies, Indian Americans, and the NGO sector in India, including:
» Management and innovation faculty at leading universities who provide strategic advice and planning support to NGO’s in such areas as management capacity and innovation cycle development.
» Industry veterans from the corporate and NGO sectors who can join as senior managers to help the organization scale its activities.
» Volunteers who can donate valuable time and insights to the organization, as fundraisers, teachers or providers.
Sandbox: US - Merrimack Valley
US - MIT Deshpande Center for Technological Innovation
Sandbox: India - North Karnataka
