When I became the director of the MIT Media Lab three years ago, my previous primary "occupation" was investing in and advising startup companies. I invested in mostly Internet-related software and service companies (e.g., Twitter, Flickr, Kickstarter). Joining the Media Lab and MIT was bit of a "pivot"-academia was a fundamentally different model for impacting the world, focused more on fundamental science and technology that wasn't as easily commercialized.
In order to focus on the Media Lab after joining, I decided I would stop investing in startup companies. (I invested in Media Lab alumni companies, Littlebits and Form Labs, before I officially started at the Lab.) As I immersed myself in learning about the Lab and MIT, I continued to learn and think about how different types of science and technology made their way into the world. In particular, I was intrigued by how biomedical research, which has a major impact on human health, seemed to have an extremely different profile, requiring a great deal of upfront investment. I knew very little about biomedical research but was very interested.
Even before I arrived at MIT, I had heard about Bob Langer. He is famous for his impact on commercializing biomedical research, and for helping to substantially advance the field of bioengineering. He has 1,050 patents and a group of dozens of researchers. Bob is one of the 11 Institute Professors at MIT who are recognized by the Institute for their outstanding contributions and who report directly to the provost and not a dean.
Recently Bob told me about a related project that he has been working on as a co-founder and senior partner at a company called PureTech. PureTech focuses on taking science and engineering, primarily in the healthcare area, and developing innovative products and companies. It provides a base for researchers and funds the early development of both the technologies and the companies.
A team of senior partners, researchers, and entrepreneurs is currently working on 11 projects at various stages of development. The company is run by Daphne Zohar, its founder and CEO. On the surface, it looks like an incubator, but it really is a new model in many ways. There is actual translational research going on within PureTech, where the PureTech team is actively both acting as founders and also operating labs and running experiments.
Bob told me that more and more of the PureTech companies had software and Internet elements, and that they were looking for more expertise in that area on the board. This sounded like the perfect opportunity for me-participating in conversations about healthcare, bioengineering and biomedical technology with the best in the field while being allowed to contribute an area of business where I had some experience.
Healthcare is universal: we are all patient-consumers on some level and the patient will increasingly be at the center of healthcare decision making. We will also be immersed in technology that can measure our physiology in real-time as shown by the emergence of wearables. As technology and clinical practice converge, digital technologies will also increasingly enter the world of mainstream medicine, creating an entirely new area increasingly being referred to as "electronic medicine," which has the potential for incredible growth. Vast amounts of data that Internet and tech companies use to make decisions can also be leveraged for healthcare, opening opportunities for real-time disease monitoring and new targeted patient engagement opportunities.
I recently joined the board and PureTech announced a new funding round today. I have been working on two companies in particular, Akili - a cognitive gaming company that aims to diagnose and treat cognitive problems, and another cross-disciplinary digital health project that is still in stealth mode.
I think that healthcare and bioengineering are exciting spaces that are growing quickly, and thanks to many amazing labs in this field in the Kendall Square/Cambridge area, we have a regional advantage. I hope that PureTech can help create an effective pathway to impact health in new and positive ways, and that I can help contribute to this while continuing to learn.
Photo: via Alkili