28 Aug '14, 2pm

The MIT Curse Strikes Again: Lilliputian Systems Files For Bankruptcy

The MIT Curse Strikes Again: Lilliputian Systems Files For Bankruptcy

I’ll be up front. The Massachusetts Institute of Technology is one of the finest universities in the world. Numerous graduates have made lasting contributions to science. And the closest I could have ever got to being part of the MIT family would have probably been working as a stock boy in the campus bookstore. It is an academic beacon. But, sometimes, start-ups just aren’t its bag. Lilliputian Systems, an MIT spin out that raised over $140 million in its prime to bring portable fuel cells to market, has declared bankruptcy. It is the latest in a series of well-funded companies out of that august university that has burned through tens of millions in an attempt to bring a cutting-edge idea to market. Many are in cleantech. The list also includes A123 Systems, which raised over $200 million and even managed an IPO before being sold for parts to Chinese investors; GreenFuel...

Full article: http://www.renewableenergyworld.com/rea/blog/post/2014/08...

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