Redstone: You're going to need some Redstone for most of your machines, as well as a few Pistons and such. I'd say a half stack is good for starters, but you'll need more as you expand. Upgrades, the Battery, and Machine Casings need gold, as well as the Matter Network Cable, Matter Scanner, and Fusion Reactor IO.
Iron Ingots: About a stack really to get started, but more is always better. Here's a quick list of what you'll need to get started: Unlike most tech mods, however, this one is a bit later of a start, as you'll need at minimum an iron pick to gather the most crucial materials. Like most tech mods, you'll need resources to get started. This guide is meant to help you get up and running with the 1.12.2 version, and have a great experience with the mod. So Matter Overdrive has been updated for 1.12.2, and many things from the 1.7.10 version have carried over.