#180 Tough Tech, Scaling DeepTech, MIT's Ecosystem, Political Durability of IRA, & More w/ Michael Kearney (Engine Ventures)

🌎 Welcome back to the CleanTechies PodLetter, investor edition.Today, we are talking to Michael Kearney from Engine Ventures.Michael Kearney started off this podcast defending the political durability of the IRA…and he had us convinced. If that doesn’t have you hooked, I don’t know what will! Building for deeptech founders is HARD…like folding a fitted sheet hard.And that’s why we need someone like Mike to do it. Mike himself did his undergrad and Ph.D. at MIT, so he’s knows the MIT innovation ecosystem like the back of his hand (The Engine is an MIT spin-out). In between, he spent his time drawing power from the Sun…well not literally…he worked on grid-scale renewable energy at Ambri in corporate development. Now, he’s focused solely on supporting “Tough Tech” founders (side note, that’s definitely a favorite term of this podcast now). Mike clearly loves doing really easy things…right?Some core topics discussed today include…* How the IRA is creating critical market opportunities, making it politically durable* The three things that matter for deeptech startups — space, equipment, and community support* Why Fluid labor markets are crucial for scaling tough tech companies* Why techno-economic modeling is leading to breakthroughs in commercializing climate tech* What will happen now that demand for clean energy has surpassed supplyAnd more… 📺 Watch on YouTube | 🍎 Apple Podcasts | 🎧 Spotify | 🗣️ Join the Slack Channel🚨Attention! 🚨 We interrupt your regular programming for an important message.ClimateTech founders are taking on a huge challenge. Building a climate startup is highly complex but also SO NECESSARY if we are going to save the climate. Founders not only you need to understand how to build a startup, but you also need to understand how to deal with hardware, have a strong handle on climate policy, know how to fundraise from diverse investors types, etc. etc. etc…It’s a lot.That’s why we make CleanTechies. The #1 Podcast for ClimateTech Entrepreneurs.In addition to our jobs, we devote ~20 hours a week to producing this podcast for you. This way, you can learn from others who have walked the path you’re on now, learn from their mistakes, and gain insights on navigating this complex world.If this mission resonates with you, we ask for your financial support of this project. It takes a lot of effort, and it’s not free. Your willingness to contribute on a monthly or yearly basis helps us keep this going.If you’re already a subscriber and want to contribute financially, click “Upgrade to Paid” at the top right of your screen.If not, follow the steps once you click “Subscribe” below to help us out. Thanks for helping us help all the climate entrepreneurs like you. 🙏 🌎The Guest: Michael KearneyMichael Kearney is the General Partner at Engine Ventures. Before Engine Ventures, Mike was at The Engine, which is the overall ecosystem and accelerator, focused on commercializing deeptech. Mike completed his Ph.D. at MIT’s Sloan School of Management before joining The Engine ecosystem. Before that, he spent 4 years at Amber, working on grid-scale solar technology in CleanTech 1.0. Mike started his career completing his Bachelors from MIT in Technology and Policy. The Investor: Engine VenturesOne Liner: Investing in the next generation of Tough Tech founders — providing capital, operational expertise, and a powerful academic, commercial, and governmental network to build and scale companiesThey invest in Tough Tech founders, helping bridge the gap from discovery to commercialization. The companies we invest in have a clearly articulated scientific or engineering solution to a global problem. They convene the investment, government, academic, regulatory, and corporate communities to help accelerate the progress of those working to grow and build Tough Tech companies. Industry and government have a chance to learn from Engine Venture’s portfolio companies and collaborate on how to augment or build upon existing solutions. Together, their network helps remove obstacles and clear a path to commercialization and success for our portfolio.Do you have suggestions on future guests or topics? Leave a comment!Unable to support financially but still want to help? Share this post w/ 3 ClimateTech entrepreneurs (or aspiring entrepreneurs). Sharing is super helpful to us, and it costs you nothing.📝 Show Notes:Topics* 02:29 Introduction* 03:50 Political Durability of the IRA* 07:46 Supporting Tough Tech Startups* 16:06 Scaling from Early-Stage Innovation to Large-Scale Deployment* 26:30 Building in the Field* 28:35 The Investment Model of Engine Ventures* 30:41 Commercializing Technology * 36:46 The Changing Nature of Competition in Clean Energy * 45:20 Room for Innovation* 51:36 TakeawaysLinks* Engine Ventures | Michael Kearney* Connect with Somil | Connect with Silas* This podcast is NOT investment advice. Do your homework and due diligence before investing in anything discussed on this podcast.Asks 👋👉 Listeners Survey* We would love to hear how we can improve the show and what you like most.👉 Fundraising for Founders* If founders are looking for funding in the ClimateTech space, reach out & schedule a chat here!👉 Early-Stage Founders Hiring* Silas just started his own recruitment consultancy tailor-made for early-stage ClimateTech startups. He does this by offering heavily discounted headhunting services for companies at Pre-Seed, Seed, and Series A companies. If you need a hand finding the best talent on the market, and you don’t want to sell your kidney to pay for it, let’s chat. (booking here)👉 Meet Top Founders* Interested in getting in front of hundreds of ClimateTech VCs and Founders each month, reach out to [email protected] to learn more about becoming a sponsor.If you couldn’t already tell, we care a lot about ClimateTech founders 😂🙏🏽 Thanks for tuning in, and see y’all next episode! This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit cleantechies.substack.com/subscribe