 | |
| Company type | Nonprofit |
|---|---|
| Industry | Startup accelerator |
| Founded | Cambridge, Massachusetts, United States (2016) |
| Headquarters | |
Key people | Emily Knight (CEO, President) Benjamin Downing (Chief Growth Officer) Katherine Otway (Chief Marketing Officer) Ian Johnston (Vice President of Tech Translation and Ecosystem Development) Sue Siegel (Board Chair) Paula T. Hammond (Board Member) Linda Pizzuti Henry (Board Member) Brad Powell (Board Member) Jeremy Wertheimer (Board Member) Glen Shor (Board Member) Angela Koehler (Board Member) Mick Mountz (Board Member) Thomas Kalil (Board Member) |
| Products | BSL-2 wet labs, fabrication spaces, office space, mentorship programs, tech translation programs, networking events |
| Website | engine.xyz |
The Engine is a nonprofit incubator and accelerator for early-stage deep tech startups, founded by MIT in 2016 and headquartered in Cambridge, Massachusetts.[1][2][3]
The Engine has supported hundreds of companies, which have collectively raised $5.5B in funding. Former resident companies and program participants include Commonwealth Fusion Systems[4] and Form Energy.[5][6]
About
[edit]The Engine specializes in supporting startups developing hardware-based technologies across deep tech fields including biotech, robotics, green energy, agriculture, manufacturing, material science, and quantum computing. Collectively, The Engine refers to the technologies it incubates as "tough tech."[7][8]
The Engine provides resident startups with shared access to wet labs, fabrication space, machine shops and office space.[1][9] It also offers programs to help scientists and engineers learn business and leadership skills,[10] and hosts events to convene investors, policymakers, and business leaders.[11]
History
[edit]On October 26, 2016, MIT launched The Engine as both an investment fund and accelerator space to support startup companies working on technology for addressing global challenges.[12][13]
The Engine opened its first headquarters in Cambridge's Central Square[12][13][14] and closed its first investment fund for over $150 million in April 2017, with $25 million committed by MIT.[15][16] In September 2017, The Engine selected its first cohort of seven startups to invest in.[17][18][19]
The Engine hosted its first Tough Tech Summit in Boston in October 2018.[20] The event has since been held every year and was expanded in 2024 to be included within a Tough Tech Week, featuring a series of events across the Greater Boston area.[21][22]
In August 2019, The Engine announced that it would begin construction on a 200,000 square foot expansion of shared office, fabrication, and lab space. in the old Polaroid building at 750 Main Street in Cambridge. The new space would expand The Engine's capacity to host over 100 companies, employing at least 1,000 people, across both locations.[11][23] The new facility opened its doors in the summer of 2022.[24]
In 2023, the investment fund separated from The Engine and rebranded as the venture capital firm Engine Ventures.[25]
The National Science Foundation granted $9.5 million to The Engine in September 2023 to develop, launch and run The Builder Platform to support its inaugural Regional Innovation Engines. The Builder Platform provides resources, community and advisory services to support nine Regional Innovation Engines across the United States.[26][non-primary source needed]
References
[edit]- ^ a b Russell, Melia. Inside the Engine Accelerator, the anti-Y Combinator for 'tough tech' startups. Business Insider. August 16, 2024.
- ^ The Engine (2025). The Engine 2024 Impact Report (PDF) (Report). Retrieved April 7, 2025.
- ^ Nanos, Janelle. At The Engine Accelerator, Emily Knight helps bring world-changing ‘tough tech’ out of the lab. The Boston Globe. May 2, 2024.
- ^ "It's All Coming Together: The Promise of a Fusion Powered Future". 2 December 2021. Retrieved 2025-04-04.
- ^ The Engine (December 15, 2022). The Engine Report 2021 & 2022 (PDF) (Report). Retrieved April 7, 2025.
- ^ Kirsner, Scott. The Engine at MIT is revving up the potential of ‘tough tech’. The Boston Globe. February 24, 2020.
- ^ Primack, Dan (2017-02-14). "MIT's Engine Room launches "hard tech" fund". Axios. Retrieved 2025-09-23.
- ^ "The Engine About Page". Archived from the original on 19 August 2024. Retrieved 2025-04-04.
- ^ Pressman, Aaron. Venture capital fund backed by MIT spins off startup support unit. The Boston Globe. January 29, 2024.
- ^ De Chant, Tim. Activate and The Engine Accelerator team up to train scientists to become founders. Tech Crunch. December 13, 2024.
- ^ a b MIT News Office The Engine expands, responding to rapid growth of “tough tech”. MIT News. August 27, 2019.
- ^ a b Matheson, Rob. MIT launches new venture for world-changing entrepreneurs. MIT News. October 26, 2016.
- ^ a b Coldewey, Devin. ‘The Engine’ is MIT’s incubator for tech and science companies straight out of the lab. Tech Crunch. October 26, 2016.
- ^ Harris, David L. MIT to fund, support 'tough' innovations with 'The Engine' The Republican. October 31, 2016.
- ^ Matheson, Rob. The Engine closes its first fund for over $150 million. MIT News. April 6, 2017.
- ^ Kolodny, Lora. A $150 million fund, The Engine, will back startups others find ‘too hard’. Tech Crunch. April 9, 2017.
- ^ Khalid, Asma. With $200 Million, MIT's The Engine Makes Its First Investments In 'Tough Tech' WBUR. September 19, 2017.
- ^ Matheson, Rob. The Engine announces investments in first group of startups. MIT News. September 19, 2017.
- ^ Konrad, Alex. MIT's $200M Venture Fund Invests in Energy, Space, and Smell. Forbes. September 19, 2017
- ^ The Engine (2018). Tough Tech: A publication by The Engine, built by MIT (PDF) (Report). Retrieved April 4, 2025.
- ^ "Inaugural Tough Tech Week in Boston Will Gather Inventors, Investors, and Innovators for Five Days of Collaboration and Connection" (Press release). The Engine. September 10, 2024. Retrieved 2025-04-07.
- ^ Kirsner, Scott. Massachusetts tech events 2025: 6 major conferences coming this fall Mass Live. September 8, 2025.
- ^ Chesto, Jon. MIT spinoff will expand into old Polaroid building The Boston Globe. August 27, 2019.
- ^ Levy, Marc (2022-09-30). "A showy opening for MIT's Engine at 750 Main, space where 'tough tech' gets down to business". Cambridge Day. Retrieved 2025-09-23.
- ^ Knapp, Alex (June 18, 2023). "MIT Spinout The Engine Ventures Raises New $398 Million Fund To Tackle Tech's Toughest Problems". Forbes. Retrieved 2025-09-23.
- ^ "NSF announces award for its Regional Innovation Engines Builder Platform" (Press release). U.S. National Science Foundation. September 29, 2023. Retrieved 2025-04-04.