MIT’s The Engine, a Cambridge-based venture capital firm, announced the opening of its new Cambridge headquarters today.
The Engine was created in 2016 to promote entrepreneurship within science and technology, help students and faculty commercialize tough tech and build regional economic development. It does this through its venture fund, network, and spaces and infrastructure.
Its new space at 750 Main St. in Cambridge is designed to give early-stage founders access to labs, workshops and capital-intensive tools without leasing or building out their own space.
“The Engine at 750 Main is a physical manifestation of what we’ve learned over five years of cultivating and investing in the tough tech ecosystem,” Katie Rae, CEO and managing partner of The Engine, said in a statement. “Tough tech is deeply cross-functional, combining fields like biology with material science or industrial design with quantum computing. This is a rare commercial space where multi-disciplinary work can happen all in one place. We’ll learn from the companies and continue to scale our support to match their ambitions.”
The Engine’s new space is in the former Polaroid building and includes biology labs, chemistry labs, shared labs to rent by the bench, medium lab suites (25 benches) and large lab suites (45 benches). It also houses fabrication and engineering spaces with a 3D printing lab, optics lab, laser cutter, electronics room, open shop space for prototyping and fabrication, and a machine shop with tools and welding capabilities. There is also office and meeting room space and a theater for up to 350 people.
Sign up for The Beat, BostInno’s free daily innovation newsletter from BostInno reporter Hannah Green. See past examples here.
While The Engine is run by MIT, the organization said the space at 750 Main is an independently operated facility open to anyone in the tough tech community. The building has space for 80-100 companies and already has some startups set up in the building, including Foundation Alloy, Atlantic Quantum and Resonant Link.
“One of our many goals is to give teams a place to grow here, in Massachusetts, as they launch their tough tech businesses to the rest of the world, addressing global issues impacting the future of our planet and health. We have seen thousands of jobs created through these portfolio companies. Giving startups space, equipment, and infrastructure all in one location will continue to make Boston a hub for science and technology innovation,” Rae said.
MIT’s Cambridge neighbor is also investing more in its tough startups. Harvard University announced earlier this month the launch of The Grid, an accelerator that will help Harvard researchers and students turn their research into startups. The new program will give emerging entrepreneurs funding, physical space, educational programming and connections to alumni, investors and the broader startup ecosystem.
The Engine already has a 30,000-square-foot lab, office and industrial space at 501 Massachusetts Ave. in Cambridge. It also partners with academic and research institutions like The Koch Institute and MIT Materials Research Science & Engineering Centers to get startups access to specialized labs, equipment, tools and space.
Outside of its community spaces, The Engine has invested in 44 companies addressing climate change, human health, and advanced systems and infrastructure since 2016. It says it has over $670 million in assets under management across its funds.
