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.
IBM is joining forces with MIT to establish a new lab dedicated to fundamental AI research, reports the AP. The new lab will focus on, “advancing the hardware, software and algorithms used for artificial intelligence. It also will tackle some of the economic and ethical implications of intelligent machines and look at its commercial application.”
IBM has invested $240 million to develop a new AI research lab with MIT, reports Jing Cao for Bloomberg News. “The MIT-IBM Watson AI Lab will fund projects in four broad areas, including creating better hardware to handle complex computations and figuring out applications of AI in specific industries,” Cao explains.
CNBC reporter Jordan Novet writes that MIT and IBM have established a new lab to pursue fundamental AI research. Novet notes that MIT, “was home to one of the first AI labs and continues to be well regarded as a place to do work in the sector.”
Boston Globe reporter Andy Rosen writes that MIT and IBM have established a new AI research lab. “It’s amazing that we have a company that’s also interested in the fundamental research,” explains Anantha Chandrakasan, dean of the School of Engineering. “That’s very basic research that may not be in a product next year, but provides very important insights.”
Writing for Fortune, Barb Darrow highlights how IBM has committed $240 million to establish a new joint AI lab with MIT. Darrow explains that, “the resulting MIT–IBM Watson AI Lab will focus on a handful of key AI areas including the development of new 'deep learning' algorithms.”
Metropolis selected Boston as one of the best design cities in the world, highlighting MIT's School of Architecture and Planning and the Fab Lab as key drivers of the city’s success. “Here in Boston our biotech and high-tech industries are offering designers incredible opportunities to express their creativity,” says Hashim Sarkis, dean of SA+P. “It’s a place where design is being pushed to new frontiers.”
Research Engineer Bryan Reimer speaks with Anthony Brooks of WBUR’s Radio Boston about the possibility of creating more car-free zones in Boston. Creating a car-free zone is possible, says Reimer, but “it’s going to take a long-term focus and shifting the vehicular traffic around.”
In an article for Forbes, Peter Cohen examines why the Cambridge area has become such a hub for startups. Cohen highlights how universities like MIT contribute to a region’s economic activity and to its supply of innovation and talent. He notes that, “by 2014 MIT alumni had created 30,200 companies with $1.9 trillion in revenue.”
President L. Rafael Reif speaks with Bloomberg TV about Greater Boston’s world-renowned leadership in education for a segment aired during the Boston Pops Fireworks Spectacular. “I say to everybody, you can live anywhere you want, but when you’re young spend four years in the Greater Boston area,” says Reif. “It’s going to change your life.”
In this Bloomberg TV video aired during the July 4th Spectacular, Profs. Sangeeta Bhatia and Robert Langer discuss the Greater Boston area’s prowess in medical research. Langer explains that for his research, which is focused on inventing, “new things in chemical engineering that can change people’s lives in medicine, there is no better place.”
Writing for The Boston Globe, Tim Logan writes that MIT filed a mixed-use zoning petition for the 14-acre Volpe site in Kendall Square. Logan notes that the Volpe redevelopment is part of a broader push by MIT to make Kendall Square, “feel more like a fully-fledged neighborhood.”
In an article for The Epoch Times, Emel Akpan highlights how The Engine is focused on supporting startups in fields that require time and patient capital. “We have a focus on tough tech,” explains Katie Rae, CEO and president of The Engine. “We think that’s where the resources are limited. But the opportunities can have a lot of impact.”
A new analysis by MIT researchers shows that immigrants are a vital part of the Boston area’s economy, writes Katie Johnston for The Boston Globe. “It’s very hard to imagine our economy succeeding without immigration,” says Prof. Paul Osterman. “The economy would be strengthened if immigration increased from its present level.”