New venture launched by MIT will support “tough-tech” companies at work on transformative ideas that take time to commercialize.
|Courtesy of The Engine|
The Engine, founded last year by MIT, has announced investments in its first group of seven startups that are developing innovations poised for transformative impact on aerospace, renewable energy, synthetic biology, medicine, and other sectors.
The founding startups were featured Sept. 19 at an event to celebrate the official opening of The Engine’s headquarters at 501 Massachusetts Ave. in Cambridge, Massachusetts, now renovated to include three floors of conference rooms, maker spaces, labs with cutting-edge equipment, computer stations, and other amenities.
“As we look at the first seven companies we have invested in, it is wonderful to see the breadth of tough-tech areas founders have leaned into,” says Katie Rae, president and CEO of The Engine. “We have been so gratified by the quality and passion of the founders that have come to us. These entrepreneurs are on a mission, and with our help they are going to change the world for the better.”
The seven startups are:
- Analytical Space, developing systems that provide no-delay, high-speed data from space, to address global challenges such as precision agriculture, climate monitoring, and city planning;
- Baseload Renewables, developing ultra low-cost energy storage to replace fossil baseload generation with renewable energy to successfully reduce carbon on a global level;
- C2Sense, building a digital olfactory sensor for industrial use cases such as food, agriculture, and worker safety, and transforming smell into real-time data that can be accessed remotely;
- iSee, delivering the next generation of humanistic artificial intelligence technology for human and robotic collaborations, including autonomous vehicles;
- Kytopen, accelerating the development of genetically engineered cells by developing technology that modifies microorganisms 10,000 times faster than current state-of-the-art methods;
- Suono Bio, enabling ultrasonic targeted delivery of therapeutics and macromolecules across tissues without the need for reformulation or encapsulation; and
- Via Separations, developing a materials technology for industrial separation processes that uses 10 times less energy than traditional methods.
Read more at the MIT News Office.
Rob Matheson | MIT News Office
Sept. 19, 2017