Facilitating and maintaining a clean energy shift hinges not only on revolutionary technology to reshape the global energy frameworks but also on executing that innovation on a large scale. As part of a continuing series featuring speakers, the MIT Energy Initiative (MITEI) welcomed Emily Knight, the president and CEO of The Engine, a nonprofit incubator and accelerator devoted to fostering technological solutions for some of the world’s most pressing issues. She elaborated on how her organization is closing the divide between research advancements and scalable market influence.
“Our objective from the outset was to promote and expedite what we refer to as ‘tough tech’ enterprises — [enterprises] that held the ambition to address some of society’s most significant challenges,” Knight stated.
The Engine, an offshoot of MIT, originated the term “tough tech” to denote not only the resilience of the technology but also the intricacy and breadth of the issues it aims to tackle. “We are an incubator and accelerator committed to establishing a platform and forming what I believe to be an open community for individuals who aspire to develop tough tech, wish to invest in tough tech, aim to work for a tough tech organization, and ultimately participate in this community,” Knight articulated.
As per Knight, The Engine constructs “an innovation orchard” where nascent research teams can access the infrastructure and resources necessary to take their concepts from the lab to the marketplace while maximizing their impact. “We utilize this pathway — from conception to investment, then investment to impact — in much of our work,” Knight explained.
She indicated that tough tech operates at the convergence of various risk elements: technology, market and consumer, regulatory, and scaling. Knight pointed out Commonwealth Fusion Systems (CFS) — one of many MIT spinouts within The Engine’s network focused on energy — as an illustration of how The Engine fosters teams in managing these uncertainties.
In its formative days, the CFS team was encouraged to presume that their innovative fusion technology would function. “If you’re consistently preoccupied with concerns about whether your technology will succeed, you won’t be proactive in surrounding yourself with the right individuals who are cultivating public affairs relationships, enabling you to site and complete your first fusion reactor when necessary,” Knight clarified. “You will be at a loss about where to seek the next funding round and unaware of who in government might act as your supporters when you need them.”
“I believe [CFS’s] eighth hire was a public affairs expert,” Knight remarked. Given the substantial regulatory, scaling, and customer challenges associated with fusion energy, strategically building their team was vital. Hiring a public affairs specialist assisted CFS in raising awareness and excitement about fusion energy within the local community and establishing the community programs crucial for securing grant funding.
The Engine’s expanding ecosystem of entrepreneurs, academics, institutions, and governmental bodies forms a vital aspect of the support provided to early-stage researchers. This ecosystem cultivates an environment for exchanging knowledge and resources, which Knight perceives as essential for navigating the distinctive challenges linked to Tough Tech.
This backing can be particularly crucial for novice entrepreneurs: “This transition from PhD student to CEO — that’s an enormous journey that begins the minute you secure funding,” Knight said. “Understanding that you are part of a community of individuals undergoing that same transformation is incredibly important.”
The Engine also extends its assistance to the broader community through educational initiatives that guide participants through the steps of transforming their research from lab to market. Knight pointed to two climate and energy startups that joined The Engine via one such program aimed at graduate students and postdoctoral researchers: Lithios, which is developing sustainable, low-cost lithium, and Lydian, which is creating sustainable aviation fuels.
The Engine further provides access to funding from investors who possess a deep comprehension of tough tech ventures. She noted that collaborations with governmental partners can provide additional backing through public funding opportunities and underscored that grants from the U.S. Department of Energy were instrumental in the initial funding of another MIT spinout within their ecosystem, Sublime Systems.
In light of the current political pivot away from climate investments, as well as the uncertainty surrounding government funding, Knight believes that the connections within their ecosystem are increasingly significant as startups seek alternative financing. “We are actively exploring funding mechanisms that could offer more stability. That’s our role as an incubator.”
Being able to gather the appropriate individuals to tackle an issue is something Knight credits to her education at Cornell University’s School of Hotel Administration. “My guiding principle throughout all of this is centered around service,” Knight expressed. “We are consistently refining our resources and how we assist our teams based on the challenges they confront.”
MITEI Presents: Advancing the Energy Transition is an MIT Energy Initiative speaker series that showcases energy experts and leaders who are at the forefront of the scientific, technological, and policy solutions necessary to revolutionize our energy systems. The next seminar in this series is scheduled for April 30 with Manish Bapna, president and CEO of the Natural Resources Defense Council. Visit MITEI’s Events page for further details on this and other forthcoming events.