The Engine, a venture capital fund backed by MIT, has spun off a new unit called The Engine Accelerator to provide support for early-stage startups. The accelerator will offer office and lab space to startups, including wet labs, fabrication space, and machine shops. The unit has also received a three-year, $9.5 million grant from the National Science Foundation to help start 10 regional startup incubators across the US. The Engine Accelerator does not invest in the startups but instead focuses on providing them with the physical resources and support they need to grow.
MIT-backed Venture Capital Fosters Startups Through Innovative Spin-off Support
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