The Newcomen Society of the United States is a publicly-supported, tax-exempt, educational foundation for "the study and recognition of achievement in American business and the society it serves". It was founded in New York City in 1923 by L. F. Loree , then dean of American railroad presidents, together with a group of other prominent business leaders. The original members were nominated from the leaders in business, industry, education, the military, and other professions. While its original interest was Business History, The Society recognizes those free enterprise factors making positive contributions to the world around us, including educational institutions and other non-profit organizations which contribute to free enterprise or are its beneficiaries.
The Newcomen Society of the United States is patterned after the Newcomen Society of Great Britain, a learned society formed to foster the study of the history of engineering and technology which was founded in London in 1920.
Both groups take their name from Thomas Newcomen (1663-1729), the British pioneer whose invention of the atmospheric steam engine in 1712 led to the first practical use of such a device - lifting water out of mines. Newcomen' s invention facilitated the birth of the industrial revolution. Thomas Newcomen is frequently referred to as the "father of the industrial revolution" as its first innovator and entrepreneur.
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