The Engine

Boston Globe reporter Pranshu Verma highlights how The Engine has expanded into an 42,000 square-foot space in the Somernova Innovation Hub, located near Union Square in Somerville. “We knew it would be a great fit for The Engine’s expansion,” said Katie Rae, CEO and managing partner for The Engine. “It offers us the ability to solve the infrastructure challenge for our network and also brings us even closer to Greentown Labs so we can continue our close partnership on our shared mission of climate tech support.”

Boston Globe reporter Pranshu Verma spotlights how innovators in the greater Boston area, including a number of MIT startups, are “aiming their moonshot ideas at a climate crisis that has only gotten worse and made their task all the more urgent.” “That’s our purpose,” said Katie Rae, CEO and managing partner for The Engine. “We are here to back those super ambitious companies that are taking a big swing.”

Nature reporter Eric Bender spotlights MIT startup Kytopen, which has developed a microfluidic platform to create induced pluripotent stem (iPS) cells and other forms of cell therapy. We want to do minimally invasive surgery,” says Kytopen co-founder Prof. Cullen Buie.

President L. Rafael Reif and Linda Henry, CEO of Boston Globe Media Partners, took part in a wide-ranging fireside chat during the inaugural Globe Summit, touching upon everything from the urgent need to address the climate crisis to MIT’s response to Covid-19, the Institute’s approach to AI education and the greater Boston innovation ecosystem. “This is such an important global issue,” says Reif of climate change. “It’s the most serious challenge we have in our times.”
 

Katie Rae, CEO and managing partner of The Engine, speaks with Forbes reporter David Jeans about the second round of funding raised by The Engine and how the venture is looking to help support tough tech ideas. “These are things with often longer [investment] timeframes,” Rae says. “They’ve almost always been backed by government-led research, and now they are ready to translate into companies.”

TechCrunch reporter Danny Crichton writes that The Engine has announced a second round of funding aimed at supporting tough tech startups. Crichton notes that, “with this latest news from The Engine, it seems clear that Boston’s tough tech ecosystem will continue to have a pipeline of interesting and compelling companies.”

Engine CEO Katie Rae speaks with Arielle Pardes of Wired about the need to invest in companies that are tackling the world’s most urgent problems. “We back transformational technology that could shape a market and solve a huge world problem all in a go,” says Rae. “But it requires patience, it requires capital and it requires imagination on how to get these types of companies to market.”

Prof. Lisa Piccirillo, The Engine CEO Katie Rae, and several MIT alumni are among the community members honored as part of Wired25, an annual list compiled by Wired that spotlights people who are working to make the world a better place.

The Engine has announced that it plans to expand into a new location at 750 Main Street to better accommodate the early-stage tough-tech startups that the MIT subsidiary serves. “Renovations to create offices, labs, and fabrication space are scheduled to start at the end of the year; they are expected to open by early 2022,” reports John Chesto for The Boston Globe.

Katie Rae, CEO and managing partner of The Engine, speaks with Fortune reporter Renae Reints about The Engine’s commitment to nurturing startups that require more time and patient capital. Rae explains that The Engine “has an investing horizon of up to 18 years, which allows us to think about bigger, longer-term bets—and these could be world-changing.”

Katie Rae, CEO and managing partner of The Engine, speaks with Bloomberg TV’s Emily Chang about tough tech and why The Engine is committed to fostering startups focused on the world’s biggest problems. Rae explains that The Engine invests in companies that often “need time to be nurtured, time to work out technical risk, but the results can be transformational to the world.”

The Engine has raised $200 million and financed its first seven companies “in fields such as aerospace, advanced materials, genetic engineering and renewable energy,” reports Michael McDonald of Bloomberg. 

Asma Khalid of WBUR reports that The Engine has raised $200 million and funded its first seven “tough tech” companies. "We have to believe it's a breakthrough [idea] that can have big impact in the world," says Katie Rae, president and CEO of The Engine, of the selected companies.  

Boston Globe reporter Andy Rosen writes that The Engine has raised $200 million to invest in “tough tech” companies. “The interest from private investors reflects a recognition that the venture capital world must find better ways to evaluate the technical promise of emerging technologies, and give them time to succeed,” notes Katie Rae, CEO of The Engine. 

The Engine has announced its initial investments in seven startups ranging from alternative energy to space communications, reports Alex Konrad of Forbes. “By helping research teams productize their ideas early, at the pre-seed and seed stages of investment,” The Engine hopes to keep talented students and professors in the Boston area, explains Konrad.