High probability of success
While at MIT, Ben Vigoda SM ’99, PhD ’03 patented technology that, in theory, allowed computer chips to calculate probabilities, enhancing computer-processing speed and capabilities while reducing power consumption. Starting a company to help bring this technology to market, however, was the real challenge. That’s where MIT came in: Using the Institute’s entrepreneurial resources, Vigoda co-founded Lyric Semiconductor Inc. and set up shop in Kendall Square’s startup haven, the Cambridge Innovation Center (CIC), located a few blocks from MIT. For years, Lyric worked quietly on its novel technology, dubbed probability processing, while raising more than $20 million in funding, primarily from the U.S. Defense Advanced Research Projects Agency and Stata Venture Partners. After officially announcing its technology in 2010, the company gained rapid notoriety in tech circles and, in 2011, was acquired by tech giant Analog Devices Inc. (ADI) for a substantial amount.However, the entire Lyric team — including Vigoda...