Along with donating $25 million to the five-year project, Microsoft will provide researchers to work with MIT faculty and students on various projects aimed at the future of information technology.
The project is an example of what can grow out of technological research, as work by students and faculty turns into entrepreneurial successes.
Austin says the area is very attractive to alumni trying to get started in the technology field.
"A lot of people like the area, and want to invest here," Austin said. "The obvious alternative would be Northern California, which is not as appealing to many."
Strain sees the impact of Harvard as different than that of MIT, but as equally important in the world of start-up firms.
"The [Harvard] Business School trains students who become the leaders of these companies," she said.
While Cambridge can't exactly be called a second Silicon Valley, the technology growth and development that has occurred with start-up companies here has been significant, often attracting people from larger companies.
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