(Photo by Flickr user Burns Library, Boston College, used under a Creative Commons license)
The downtown incubator specializes on creating durable companies by turning patents into viable business models through its 18-month program, which provides funding, development, design and a sales team.
The new fund will help expand AKT’s portfolio of 170 ventures and also create 10 to 15 new companies in the mobile, multi-touch, wearables, IoT, big data or metech spaces.
“Our model includes a full business lifecycle from quick prototyping to product development to market place to exit,” said CEO Nicolas Chaillan in an email. “It takes that patent or idea and develops a product and company around it.”
In exchange for the incubator’s services and for equity in the company, inventors give away ownership of the patent. AKT has so far founded 5 companies.-30-
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