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The Engine

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Bloomberg

Katie Rae, CEO of The Engine, an entity created by MIT to help support tough tech startups, speaks with Akshat Rathi of Bloomberg about the importance of investing in climate technology. “We have fundamental risks that, if we don’t tackle with real deep science and engineering, that will take us a full step forward, or two steps forward, we’re in trouble,” says Rae.

Bloomberg News

Bloomberg News spotlights how President L. Rafael Reif, who “oversaw a revitalization of MIT’s campus and its continued integration with Kendall Square” has announced he will step down at the end of 2022. “Reif’s emphases as provost and president included the shift to more online learning, and innovation in ‘tough tech,’ including the creation of 'The Engine,' an incubator supporting companies to solve the world’s greatest challenges, from fusion energy to new medical devices.”

Bloomberg Radio

Bloomberg reporter Janet Wu speaks with Katie Rae, CEO of The Engine. Rae explains that The Engine backs “those types of founders that are on a mission to do something that will be truly impactful in a positive way to the planet."

The Boston Globe

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

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

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.

Boston Globe

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.”
 

Forbes

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

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.”

Wired

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.”

Wired

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 Boston Globe

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.

Fortune- CNN

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.”

Bloomberg News

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.”

Bloomberg

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