At first the thought was to carry coatings to the oil and gas industry. However, at some point, in mid 2012, Varanasi saw his better half attempting to pour honey from its compartment. “Furthermore I thought, ‘We have an answer for that,'” Varanasi says.
The concentrate then, at that point, became buyer bundling. Smith and Varanasi took the thought through a few business classes —, for example, 6.933 (Entrepreneurship in Engineering: The Founder’s Journey) — and MIT’s Venture Mentoring Service and Innovation Teams, where understudy groups research the business capability of MIT advancements.
“I did essentially every single thing you could do,” Smith says. “Since we have such a splendid organization here at MIT, I figured I should exploit it.”
That May, Smith, Varanasi, and a few MIT understudies entered LiquiGlide in the MIT $100K Entrepreneurship Competition, procuring the Audience Choice Award — and the public spotlight. A video of ketchup sliding out of a LiquiGlide-covered container circulated around the web. Various news sources got the story, while many organizations contacted Varanasi to purchase the covering. “My telephone didn’t quit ringing, my site slammed for a month,” Varanasi says. “It just went off the deep end.”
That mid year, Smith and Varanasi took their startup thought to MIT’s Global Founders’ Skills Accelerator program, which acquainted them with a vigorous organization of nearby financial backers and assisted them with building a strong field-tested strategy. Before long, they fund-raised from loved ones, and won $100,000 at the MassChallenge Entrepreneurship Competition.
At the point when LiquiGlide Inc. dispatched in August 2012, customers were at that point thumping down the entryway. The startup picked a select number to pay for the turn of events and testing of the covering for its items. Inside a year, LiquiGlide was income positive, and had developed from three to 18 representatives in its present Cambridge base camp.
Thinking back, Varanasi ascribes a lot of LiquiGlide’s prosperity to MIT’s development based environment, which advances quick prototyping for the commercial center through experimentation and coordinated effort. This biological system incorporates the Deshpande Center for Technological Innovation, the Martin Trust Center for MIT Entrepreneurship, the Venture Mentoring Service, and the Technology Licensing Office, among different drives. “Having a lab where we could ponder … making an interpretation of the innovation to true applications, and having this capacity to meet individuals, and skip thoughts … that entire MIT environment was critical,” Varanasi says.