Part impact report, part celebration of The Engine’s portfolio companies and their achievements, The Report dives deep into the impact these Tough Tech companies are making today and how they will change the world of tomorrow.
“Core to our mission is helping incredible founders, ideas, and companies scale. To create lasting impact for the world, we must reach everyone.”
Katie RaeCEO & Managing Partner, The Engine
The Engine was spun out of MIT in 2016 with the purpose of supporting startups poised to create a material positive impact on society and the environment. Our 2019 & 2020 Report looks back on the progress our portfolio has made tackling climate change, developing breakthroughs for human health, and creating advanced systems and infrastructure. It also details the initiatives we’ve created to help founders and the broader Tough Tech ecosystem thrive. The two years since our last report have been defined by a pandemic that has only served to sharpen our collective sense of urgency to discover and commercialize Tough Tech companies. These years serve as a reminder of why we must continue to create the frameworks to support those who are solving massive problems through the convergence of science and technology.
02
United Nations Sustainable Development Goals
A blueprint for peace and prosperity.
The United Nations Sustainable Development Goals (UN SDGs) were established in 2015 as a shared blueprint for peace and prosperity for people and the planet, now and into the future. They have since been adopted by all UN Member States. These 17 SDGs recognize that achieving a better and more sustainable future for all requires an integrated approach to solving a diverse set of issues together. The Engine and the companies in our portfolio mirror this approach.
Mapping The Engine’s portfolio across the UN Sustainable Development Goals:
Mapping The Engine’s portfolio across the UN Sustainable Development Goals:
1
No Poverty
2
Zero Hunger
3
Good Health & Well-being
4
Quality Education
5
Gender Equality
6
Clean Water & Sanitation
7
Affordable & Clean Energy
8
Decent Work & Economic Growth
9
Industry, Innovation, & Infrastructure
10
Reduced Inequalities
11
Sustainable Cities & Communities
12
Responsible Consumption & Production
13
Climate Action
14
Life below Water
15
Life on Land
16
Peace, Justice, & Strong Insitutions
17
Partnerships for the Goals
Climate Change
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
Boston Metal
No
No
Yes
No
No
No
No
Yes
Yes
No
Yes
Yes
Yes
No
No
No
Yes
Cambridge Electronics
No
No
No
No
No
No
Yes
Yes
Yes
No
Yes
No
Yes
No
No
No
No
Commonwealth Fusion Systems
Yes
No
No
No
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
No
Yes
No
Form Energy
No
No
No
No
No
No
Yes
Yes
Yes
No
Yes
No
Yes
No
No
No
No
Lilac Solutions
No
No
No
No
No
No
Yes
No
Yes
No
Yes
Yes
Yes
No
Yes
No
No
Quaise
Yes
No
No
No
No
No
Yes
No
Yes
Yes
Yes
Yes
Yes
No
Yes
Yes
No
Syzygy Plasmonics
No
No
No
No
No
No
Yes
No
Yes
No
Yes
Yes
Yes
No
No
No
No
Via Separations
No
No
No
No
No
Yes
Yes
No
Yes
No
No
Yes
Yes
No
Yes
No
No
Human Health
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
Biobot Analytics
No
No
Yes
No
No
Yes
No
No
No
Yes
Yes
No
No
No
No
Yes
No
Cellino
No
No
Yes
No
No
No
No
No
No
No
No
No
No
No
No
No
No
E25Bio
No
No
Yes
No
No
No
No
No
No
Yes
No
No
No
No
No
No
No
Kytopen
No
No
Yes
No
No
No
No
No
No
No
No
Yes
No
No
No
No
No
Lucy Therapeutics
No
No
Yes
No
No
No
No
No
Yes
No
No
No
No
No
No
No
No
Mori
Yes
Yes
Yes
No
No
No
No
No
No
Yes
Yes
Yes
No
No
No
No
No
Seaspire Skincare
No
No
Yes
No
No
Yes
No
Yes
No
No
No
Yes
Yes
No
No
No
No
Suono Bio
No
No
Yes
No
No
No
No
No
No
No
No
No
No
No
No
No
No
Vaxess Technologies
No
No
Yes
No
No
No
No
No
No
Yes
Yes
No
No
No
No
No
No
Advanced Systems & Infrastructure
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
Analytical Space
No
Yes
No
Yes
No
No
No
No
Yes
Yes
No
Yes
Yes
Yes
Yes
No
No
C2Sense
No
No
Yes
No
No
No
No
No
Yes
No
No
No
No
No
No
No
No
Celestial AI
No
No
No
No
No
No
No
No
Yes
No
No
No
Yes
No
No
No
No
Hyperlight
No
No
No
Yes
No
No
No
Yes
Yes
No
No
Yes
Yes
No
No
No
No
ISEE
No
No
No
No
No
No
No
No
Yes
Yes
Yes
No
No
No
No
No
No
Radix Labs
No
No
Yes
No
No
No
No
No
Yes
Yes
No
No
No
No
No
No
No
RISE Robotics
No
No
No
No
No
No
No
No
Yes
No
Yes
No
Yes
No
No
No
No
Sync Computing
No
No
No
No
No
No
No
No
Yes
No
No
Yes
No
No
No
No
No
The Routing Company
No
No
No
No
No
No
No
No
Yes
Yes
Yes
No
Yes
No
No
No
No
WoHo
No
No
No
No
No
No
No
No
Yes
Yes
Yes
No
No
No
No
No
No
Zapata Computing
No
No
Yes
Yes
No
No
No
No
Yes
No
Yes
No
Yes
No
No
No
No
Mapping The Engine across the UN Sustainable Development Goals:
Mapping The Engine across the UN Sustainable Development Goals:
1
No Poverty
2
Zero Hunger
3
Good Health & Well-being
4
Quality Education
5
Gender Equality
6
Clean Water & Sanitation
7
Affordable & Clean Energy
8
Decent Work & Economic Growth
9
Industry, Innovation, & Infrastructure
10
Reduced Inequalities
11
Sustainable Cities & Communities
12
Responsible Consumption & Production
13
Climate Action
14
Life below Water
15
Life on Land
16
Peace, Justice, & Strong Insitutions
17
Partnerships for the Goals
Fostering Entrepreneurship in Science & Technology
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
Blueprint
No
No
No
Yes
No
No
No
No
No
Yes
No
No
No
No
No
Yes
No
Provocations
No
Yes
Yes
No
No
No
Yes
No
Yes
No
No
No
Yes
No
Yes
No
Yes
Tough Tech Summit
No
No
Yes
No
No
No
No
Yes
Yes
No
No
No
Yes
No
Yes
No
Yes
Diversity, Equity, & Inclusion
No
No
No
Yes
Yes
No
No
Yes
Yes
Yes
No
No
No
No
No
Yes
No
Marketing & Thought Leadership
No
No
No
Yes
No
No
No
No
No
No
No
No
No
No
No
No
Yes
Tough Tech Publications
No
Yes
Yes
Yes
No
No
Yes
Yes
Yes
No
Yes
Yes
Yes
No
Yes
No
Yes
Regional Development
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
Space & Infrastructure
No
No
Yes
Yes
No
No
No
Yes
Yes
No
Yes
Yes
No
No
No
Yes
Yes
Talent
No
No
No
No
Yes
No
No
Yes
Yes
No
No
No
No
No
No
Yes
No
Encouraging Commercialization of Tough Tech
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
The Engine Network
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
Yes
Government & Policy
Yes
No
No
Yes
Yes
No
No
Yes
Yes
Yes
Yes
No
No
No
No
Yes
Yes
The Engine Fund
No
No
Yes
No
Yes
No
Yes
Yes
Yes
Yes
Yes
No
Yes
No
Yes
Yes
Yes
The Engine Founders Programming
No
No
No
Yes
Yes
No
No
No
No
No
No
No
No
No
No
Yes
Yes
Capital Stack
No
No
No
No
No
No
No
Yes
Yes
No
No
No
No
No
No
No
Yes
03
The Engine Initiatives
It’s our job to make it easier for Tough Tech to change the world.
01.
Fostering Entrepreneurship within Science & Technology
Initiatives
Blueprint
The Engine Provocations
Tough Tech Summit
Diversity, Equity, and Inclusion
Thought Leadership
“The Engine’s investments are driven by a mandate, not a particular vertical. I’m constantly using the interdisciplinary nature of the community to our benefit.”
Shreya Dave, Via Separations
02.
Regional Development
Initiatives
Space & Infrastructure
The Engine Expansion
Talent
“As COVID-19 hit, we had just closed our first round of funding. The entire team at The Engine worked with us at that moment to help us pivot to monitoring the pandemic. They stepped in and helped us grow from a team of five people to a team of 30-plus.”
Marina Matus, Biobot Analytics
03.
Encouraging Commercialization of Tough Tech
Initiatives
The Engine Network
Government & Policy
The Engine Fund
The Tough Tech Capital Stack
“As our lead investor in the seed round, The Engine was instrumental in breaking down apprehensions from other investors in joining our cause. That was a pivotal moment that enabled the company to take its first steps away from the lab and into the commercial journey ahead.”
Carold Araque, Quaise
“The thriving and exciting young companies launched by The Engine are thrilling endorsements of its founding insight: that many promising ‘tough’ technologies need steady, long-term support to bridge the gap between idea and societal impact. Each new founder, collaboration, idea and investment helps bring our dream of an ‘innovation orchard’ to life – and brings the world closer to the kinds of breakthroughs our society needs the most.”
L. Rafael ReifMIT President
04
Portfolio Company Highlights
This is what Tough Tech looks like.
Decarbonizing every industrial process
Via Separations’ graphene oxide membrane platform can help industries like pulp & paper, chemical manufacturing, semiconductors, pharmaceuticals, and food & beverage eliminate thermal separation.
“We're going to touch every product that a person uses in their day — eliminating thermal separations enables a higher quality of life for the globe.”
Shreya DaveCEO & Co-Founder, Via Separations
12%
Industrial thermal separations for 12% of all U.S. energy consumption, which is roughly the same amount of energy as all the gasoline used for transportation in the U.S.
Green steel with zero greenhouse gas emissions
Boston Metal’s unique steel making process can help decarbonize a sector that contributes nearly 8% of all global CO2 emissions.
“Every bridge, every building — everything we build — all the appliances you have at home — everything needs steel.”
Tadeu CarneiroCEO, Boston Metal
0%
Zero emissions production of steel and alloys at competitive prices. Zero water waste. Zero reagents used in processing.
Safe, unlimited, carbon-free fusion power for the grid in 10-15 years
Commonwealth Fusion Systems is using revolutionary new materials and technologies to develop a fusion machine that is smaller, easier to build, and easier to deploy than any other system under development.
“Imagine the world in 2050. Our vision is for 10,000 zero carbon ARC fusion power plants delivering electricity to the grid globally, meeting 20% of humanity’s demand.”
Bob MumgaardCEO & Co-Founder, Commonwealth Fusion Systems
FUSION
Fusion is clean energy to power the planet and combat climate change.
Automating personalized medicine to cure our toughest diseases
Cellino automates the engineering of induced stem cells using label-free imaging and high-speed laser editing. This approach allows thousands of patient samples to be processed in parallel in a single facility.
“What happens if cells go awry and stop doing their important jobs? Patients develop diseases such as Parkinson’s, chronic heart disease diabetes, or even blindness. Cellino is working on cell-based therapies to prevent and reverse these debilitating diseases.”
Making vaccines radically more effective and accessible via a shelf-stable patch
Vaxess Technologies is producing patch-based therapies that are shelf-stable, easily administered, and proven to be more effective than those administered traditionally. MIMIX™ smart-release therapies can be used across a range of different products, from small molecules to vaccines.
“The company is working on a long term solution to addressing COVID as it transitions from a pandemic to an endemic concern. We believe there will be a need for a regular seasonal vaccination. Our approach to addressing this is to combine a seasonal flu vaccine and COVID vaccine in a single, shelf-stable dose.”
Michael SchraderCEO & Co-Founder, Vaxess Technologies
A natural coating that reduces food spoilage and packaging waste
Mori is pioneering a natural water-based coating that preserves the freshness of food. It’s tasteless and invisible, and can be applied to everything from fresh-cut produce to proteins like meat and fish. The coating dramatically extends shelf life by slowing the exchange of gases that cause decay.
“We produce enough food to feed the world — the ability to extend shelf life, and ensure a resilient food supply chain, can help us all have access to food that is healthy and safe.”
Adam BehrensCEO & Co-Founder, Mori
25%-100%
Natural coating slows the spoilage of produce and protein by 25%-100% without the need for single-use packaging.
Redefining the possibilities of the world’s communication infrastructure with ultra-high-speed, low-power circuits
HyperLight has developed chip-scale electro-optic modulators, the first of their kind anywhere in the world. These chips will make the connections between data centers, industries, offices, and homes faster and more capable.
“The demand for data is not slowing down. It’s accelerating, and we expect that demand to keep growing, driven by the rapid evolution of AI and other data-intensive platforms.”
Mian ZhangCEO & Co-Founder, HyperLight
30%
Reducing data center power consumption by up to 30% by harnessing the superior properties of lithium niobate
Quantum software to solve our most complex problems
The team at Zapata Computing writes algorithms that harness the power of quantum computing to help predict and simulate some of the universe’s most complex interactions, such as the behavior of molecules at an atomic level. When used in tandem with quantum hardware, these algorithms have practical industrial applications, like the optimization of supply chains and travel routes, or the prediction of drug efficacy before compounds are even synthesized in the lab.
“I deeply believe that quantum software will affect all of humanity. Many of the big problems that we need to solve require the type of predictive modeling quantum computing excels at — things like climate change, global pandemic response, anything that involves massive models.”
Christopher SavoieCEO & Co-Founder, Zapata Computing
497
Peer-reviewed quantum information publications
Changing how we design and construct our world
WoHo is transforming the way spaces are conceived and created. The company integrates architectural design, engineering, and construction into a single, streamlined platform to quickly build resilient, sustainable, high-rise buildings.
“WoHo is building the new generation of intelligent, safe, and sustainable spaces. We are raising the standards and expectations for how buildings are created. WoHo is changing how we design and construct our world — so that everyone wins.”
Israel RuizCEO & Co-Founder, WoHo
20%+
Reducing construction costs by more than 20%.
“The Engine ecosystem — and the Boston Tough Tech ecosystem at large — is full of founders and talent going through the same sort of thought processes and the experiences of building companies. You can find people that have gone through the same stage that you’re at right now as an entrepreneur, whatever that stage is.”
Bob MumgaardCEO & Co-Founder, Commonwealth Fusion Systems
