CAMBRIDGE, Mass.–(BUSINESS WIRE)–September 29, 2022–
Engine, built by MIT, today announced the opening of The Engine at 750 Main, its new Cambridge headquarters. The Engine invests in Tough Tech, a transformative technology that solves the world’s most important challenges, through a venture capital fund, network, spaces and infrastructure. The Engine at 750 Main is the newest addition to The Engine’s spaces and infrastructure mainstay and includes the breadth of capital-intensive labs, workshops, and tools that Tough Tech founders need in the early stages of building a business, without the overhead of renting and building their own space. It will build on the success of The Engine’s Central Square, Cambridge, and attract a dense community of innovators whose proximity to each other and critical resources will bring solutions to market faster.
“The Engine at 750 Main is a physical manifestation of what we’ve learned over five years of growing and investing in the Tough Tech ecosystem,” said Katie Rae, CEO and Managing Partner of The Engine. “Tough Tech is deeply cross-functional, combining fields like biology with materials science or industrial design with quantum computing. It is a rare commercial space where multidisciplinary work can take place in one place. We will learn from businesses and continue to tailor our support to their ambitions.
Located between Kendall and Central Squares in Cambridge, The Engine at 750 Main is purpose-built to foster the Tough Tech ecosystem. The facility, which is housed in the iconic former Polaroid building, includes biology labs, chemistry labs, shared labs for rent per bench, medium lab suites (25 benches), and large lab suites ( 45 benches). Manufacturing and engineering spaces include a 3D printing lab, optics lab, laser cutter, electronics room, open space for prototyping and manufacturing, and a large machine shop with multiple tools and welding capabilities. The building also offers traditional space for offices and meeting rooms and can host events for companies and their collaborators in an open theater that can accommodate up to 350 people.
The new Engine headquarters is in a building owned and developed by MIT – part of the Institute’s broader portfolio of investment properties in Cambridge that enhance the innovation ecosystem surrounding its campus . Part of the larger MIT ecosystem, The Engine at 750 Main is an independent facility open to all members of the Tough Tech community. The building can accommodate 80-100 companies (~1,000 people) to rent space, creating a cluster and density of activity around new technologies to drive faster innovation.
“One of our many goals is to give teams a place to grow here in Massachusetts as they launch their Tough Tech businesses in the rest of the world, tackling global issues that impact the future of our planet and on health. We have seen thousands of jobs created through these portfolio companies. Giving startups the space, equipment and infrastructure in one place will continue to make Boston a hub of science and technology innovation,” Rae added.
Boston-based architectural teams developed the site; inside the space peopleand the base building by Jacobs. Current residents of The Engine at 750 Main include The Engine’s portfolio companies: Kytopen, Cellino, Atlantic Quantum, Asoft, Osmosis, Coat, resonant link, I SEE, Copernic catalysts, C2Sense, FORAY Biosciencesand basic alloy. Partners such as AET, Cambridge Consultants, CSC Leasing, Desktop Metal, Eppendorf, Hilti, Nanolive, Thermo Fisher Scientific and Triumvirate provide state-of-the-art equipment to the facility.
Since its inception in 2016, The Engine has invested in 44 companies dealing with climate change, human health and advanced systems and infrastructure. The Engine has over $670 million in assets under management across its funds, with a portfolio dedicated to solving complex existential challenges and making a material, positive impact on society. The Engine’s next Tough Tech Summit will take place in Boston on October 27-28. Find out more and request an invitation at https://toughtechsummit.com/.
For more information, including photography, rental details, partnerships, or hosting Tough Tech-related events at The Engine 750 Main, visit https://engine.xyz/locations/750-main.
About the engine
The Engine, built by MIT, is a Cambridge, Massachusetts-based venture capital firm investing in the next generation of Tough Tech: a transformative, broad-based approach applying cutting-edge technology to solve problems of change climate, human health and advanced systems and infrastructure. By transforming the foundations of the industry, we unlock huge opportunities for a more sustainable and resilient world. Visit www.engine.xyz.
Show source version on businesswire.com:https://www.businesswire.com/news/home/20220929005155/en/
CONTACT: Jacqui Miller
KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: TECHNOLOGY ENGINEERING ARCHITECTURE MANUFACTURING FINANCE ASSET MANAGEMENT PROFESSIONAL SERVICES CONSTRUCTION & OWNERSHIP MACHINE TOOLS, METALWORKING & METALURGY ENVIRONMENT RESEARCH HARDWARE SCIENCE CLIMATE CHANGE
SOURCE: The Engine
Copyright BusinessWire 2022.
PUBLISHED: 09/29/2022 08:00/DISC: 09/29/2022 08:03