Idea to impact

Yale has a long history of innovation dating back to the Revolutionary War, when David Bushnell, Class of 1775, invented a turtle-shaped, hand-propelled submarine. Fast forward to the 2020s with Jinali Mody’s ’23 M.E.M. startup Banofi, which transforms banana crop waste into an eco-friendly leather alternative, and Quantum Circuits, Inc., founded by Yale scientists including Professor Robert Schoelkopf, which is developing the technology ushering in the quantum era.

In between, there have been many other discoveries and inventions by Yalies including, Morse Code, pioneering brain surgery, gene mapping, Honest Tea, FedEx, Alibaba, Fitbit, 23andMe, Rent the Runway, and Pinterest.

With the formation of Yale Ventures in 2022, the university continues to foster the entrepreneurial spirit and support groundbreaking ideas from the community. Yale Ventures builds on the foundation of the former Office of Cooperative Research (OCR). Started in 1982, OCR was dedicated to generating venture capital, creating startups, and translating academic research into marketable products and services.

Today, Yale Ventures guides its clients from idea to market, turning research into tangible products and services designed for positive, far-reaching impact by removing common startup barriers — connecting founders with skilled employees, capital, mentorship, and appropriate lab and office space.

“We help the Yale community develop discoveries that address the world’s greatest challenges,” said Josh Geballe ’97, ’02 M.B.A., senior associate provost for entrepreneurship and innovation. “Yale Ventures aims to grow the university’s innovation ecosystem by providing the necessary resources, mentorship, and infrastructure needed to launch startups based on Yale research. We are also expanding external partnerships and fostering economic development in Greater New Haven and Connecticut.”

The Yale Ventures team supports an array of entrepreneurial activities in which the community can develop, protect, and commercialize their discoveries. One of the key elements of this unit is its dedication to making innovation accessible.

Through workshops, funding sources, networking events, an investor network support, and one-on-one mentoring, Yale Ventures helps demystify the process of turning ideas into viable products or startups. “The goal is to nurture a thriving community where the next big breakthrough can emerge from any corner of the campus,” said Geballe.

Designed as a resource for everyone — not just scientists or technical experts — Yale Ventures simplifies the complexities of entrepreneurship and any student, staff member, or faculty member can contribute to and benefit from the ecosystem of innovation. Building on this comprehensive approach, Yale Ventures consists of four central units.

Intellectual Property and Licensing Services works with faculty, staff, and students to facilitate technology transfers of new Yale inventions from disclosure to patenting and licensing, thereby protecting and disseminating intellectual property. This team helps bring breakthroughs to market, either through a new startup or established company that is interested in and capable of developing the technology, pharmaceutical, or other invention.

“It’s important that we take steps to protect intellectual property behind new discoveries,” said Geballe. “This gives us the greatest opportunity to attract investment for further development, hoping to turn these ideas into products and services. Success ensures that money comes back that will be reinvested in research.”

Notable successes include Spravato, an FDA-approved nasal spray for adults with treatment-resistant depression based on the work of John Krystal, the Robert L. McNeil, Jr. Professor of Translational Research. Quantum Circuits, Inc., founded by Yale scientists, including Schoelkopf, the Sterling Professor of Applied Physics, who developed the foundation for the first scalable quantum computer, is located at 25 Science Park in New Haven and continues to work toward commercializing quantum computing technology.

The second unit, Innovation Training and Startups, manages a range of resources that help faculty and students develop ideas into new ventures. Support includes accelerators, innovation centers, and volunteer industry mentors.

“There are several different programs and centers focused on specific areas of expertise. For instance, the Blavatnik Fund provides grants, support, and mentorship for promising technologies focused on developing new therapeutics,” Geballe adds. “We have several other accelerators focused on autoimmune diseases, engineering, climate, digital health, and the arts. The Tsai Center for Innovative Thinking is the student-focused unit that provides a range of programming for those interested in real-world problem solving.”

A key example of this support is the Venture Lab, a mentorship program that brings together over 150 executives, many of whom are Yale alumni, with deep expertise as entrepreneurs, investors, or industry leaders.

“They all volunteer to give back to the university and mentor our faculty and students. We organize workshops to bring together those individuals with specific ideas and match them with volunteer Executives-in-Residence (EIR) who have the most relevant expertise,” Geballe mentions. “They meet and provide business strategy advice and funding guidance to help the inventors or researchers advance to the next milestone.”

The Innovation Community team connects and promotes the individuals, spaces, and sources of capital at Yale, in New Haven, and beyond. Yale Ventures supports and accelerates the city’s growing momentum as an innovation hub by being a major tenant at the new 101 College Street building along with the university-supported BioLabs and ClimateHaven.

“Our yearly Innovation Summit brings hundreds of investors and industry partners from around the world to town. This year, 2,500 people attended. We also partner with the private sector to ensure we’re building lab space to keep pace and retain our startups in New Haven,” said Geballe. “When our companies succeed, it drives economic growth, creates jobs, and helps us attract and retain amazing scholars and students,” Geballe said.

Finally, Corporate Strategy and Engagement develops and strengthens relationships and collaborations with corporations while building connections with private partners. Some partnerships include AstraZeneca, Boehringer Ingelheim, and the Chan Zuckerberg Biohub.

“We support new and expanded relationships between large, established companies and Yale researchers. This helps to bring in funding and helps our investigators and students accelerate and expand their research,” said Geballe.