An MIT spinoff known as the Engine is putting “tough tech” in the spotlight as it prepares to convert an old Polaroid building in Cambridge into labs and offices for startups with potentially game-changing technologies for the energy, biotech, and manufacturing fields.
MIT created the Engine — a for-profit company that runs a $205 million venture fund — in 2016 to help startups with longer-term horizons that were finding it difficult to secure venture capital and other more traditional kinds of startup financing.
On Tuesday, the Engine marks a milestone: an announcement of a 200,000-square-foot lease with MIT in a vacant building once used by Polaroid at 750 Main St. 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.
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