A native of Los Angeles, Holly headed east as a young woman to attend the Massachusetts Institute of Technology, where she would complete her bachelor’s and master’s degrees in mechanical engineering, focusing on optics and product design. She began working in the industry while still an undergraduate, participating in the team which developed the world’s first computer-generated, full-color reflection hologram at the MIT Media Lab.
Her next major achievement was designing a robotic weld-seam-tracking program for the NASA space shuttle’s main engine, followed up by a patent for an early electronic shopping device called “The Stylus” which pre-dated widespread use of the Internet. The corresponding business plan she wrote for her invention won MIT’s entrepreneurial competition and would later lead to the company being acquired by Artisoft Inc. in 1996.
Holly left her imprint on the East Coast by serving as founding executive director of MIT’s Deshpande Center for Technological Innovation, an organization established in 2002 to increase the influence of MIT technologies on the market.
As executive director, Holly directed the distribution of grants totaling $5 million, attracting more than 250 students and faculty to the program which would lead to the creation of nine startup companies and raise a staggering $40 million in capital from outside venture capital firms. Clearly, she has the golden touch.
But in 2005 she headed back to Los Angeles, where she was given yet another chance to set up an organization dedicated to the ideal of innovation.
“To be honest, I never thought I’d leave Boston. I was quite happy at MIT! But when I heard about the opportunity to create such an ambitious program, and learned about the breadth and depth of research and the quality of students here, it really excited me. But I have only over the last year grown to appreciate truly how amazing USC and L.A. are and how lucky I am to be here,” she affirms.
And how does this self-described “serial entrepreneur” envision the future of the Stevens Institute?
“Well, to better understand what we are doing, it helps to understand how we are defining innovation: ‘the process of transforming new ideas into tangible societal impact.’
“Traditionally, universities tend to focus only on commercialization of university intellectual property, generally in engineering or scientific disciplines. And although we will continue to enthusiastically promote technology startups and licenses, we believe innovation can also be social or artistic and can take the form of new products, services, or even nonprofits and new organizational models.
“As far as we can tell, this is the first time a major research university has approached innovation like this, with a university-wide, centralized hub out of the Office of the Provost, to coordinate innovation transfer operations, educational and co-curricular programming, and innovator development. Most significantly, we are just as focused on developing the innovator as we are the innovation.”
“I could argue it is our imperative. Not only is innovation critical to the economic competitiveness of our nation but also to the well-being and improved quality of life for people worldwide. And as a university, we are not bound by the fiduciary concerns driving corporations to a narrower definition of innovation. We can focus on any idea that is likely to make impact, as long as it addresses a real need or opportunity and has a sustainable model. If we can help cure a disease, slow climate change, or even make people’s lives happier or more convenient, that would be a huge win.
“In addition, our students and faculty are asking for it. By providing them with the tools to innovate now and into the future, we are nurturing the next generation of innovators. Especially given our diversity and international student population, this approach gives USC incredible leverage to make impact on a global scale.”
