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.”
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.
In an article for the Financial Times, Thomas Hale and Andy Bounds spotlights MIT’s role in making Kendall Square an innovation hub. Hale and Bounds write that a 2014 Brookings report noted that MIT “has always emphasised partnerships between the university and industry.”
Boston Globe reporter Tim Logan writes about MIT’s groundbreaking ceremony for 314 Main Street, which will serve as a “new front door” for the Institute. Steve Marsh, managing director of real estate, explains that in Kendall Square, MIT aims “to create an environment where people solve problems. That will help us all.”
Boston Business Journal reporter Catherine Carlock writes that Boeing will come to Kendall Square to develop a new autonomous flight research center. Boeing is the first major tenant announced as part of MIT’s Kendall Square Initiative. Provost Martin Schmidt explains that Boeing’s presence in Kendall Square, “will create an unprecedented opportunity for new synergies in this industry.”
“One of the biggest names in aerospace is coming to MIT’s front door,” writes Boston Globe reporter Tim Logan, explaining that Boeing will lease space in one of the buildings MIT is developing in Kendall Square. “We want to bring corporate partners to the edge of our campus to facilitate stronger and deeper interactions with our community,” says Provost Martin Schmidt.
Bay State Banner reporter Susan Saccoccia spotlights the “Walls of Unity” mural in Kendall Square. Saccoccia explains that the mural is, “a project of Creative Current, a multi-year initiative sponsored by MIT to build artistic and professional skills in local youth and to create connections between residents and the MIT community.”
Reporting for WBUR, Karen Weintraub examines the biotech boom in Kendall Square. President Emerita Susan Hockfield notes that, “Every year there's a new wave of young people who arrive on our campuses and get inspired by what we do and then inspire us about what they'd like to do. I think that's part of the magic mix here.”
The Boston Globe’s Scott Kirsner discusses the impact of Cambridge biotech company Biogen, cofounded by Prof. Phil Sharp, which celebrates its 40th anniversary this year. “The company has become the biggest oak tree of the Massachusetts biotech sector,” writes Kirsner, “not only because it is still standing after four decades, but because it has dropped a lot of acorns.”
Boston Globe reporter Tim Logan writes that Roche Bros. Supermarkets will open a Brothers Market in MIT’s One Broadway Building. Steve Marsh, managing director of MIT’s Real Estate Group, explained that a grocery store was, “so important to those who live and work in Kendall that we worked to incorporate it in the earliest possible phase of our development.”
CBS Boston’s Paula Ebben reports on MIT’s Innovation Playground, a space created for HUBweek to showcase the science, art and technological breakthroughs happening in Kendall Square. “We want people to go away and say, yup, that’s what’s going on in Kendall Square,” says Sarah Gallop of MIT’s Office of Government and Community Relations.
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.