$250k seed funding, 4 months, & life-long experience.
Each team receives $250,000 in seed funding, lab and co-working space, dedicated mentorship, and become part of a huge network of IndieBio alumni, investors, biotech entrepreneurs, investors, press, corporate partners, and more.
Twice a year, fifteen early stage biology companies move to downtown San Francisco to take part in an intense four month program unlike anything they’ve ever experienced in their PhD’s and Post-doctoral training. Founders engage with customers and partners, pitch to investors, and turn science into a real product people pay for.
A huge focus for every team while at IndieBio is going from bench to product in four months. This means making prototypes, getting them into hands of mentors and potential customers, and iterating off of their feedback over and over again.
Teams are able to do this since we have a fully equipped biosafety level 1 and 2 lab on site and accessible 24/7. It’s high density with world-class scientists, and many teams have had fundamental breakthroughs due to problem-solving and working with other scientists in their class. We also have a large network of facilities and institutions in the Bay Area that can lend teams equipment and expertise as needed.
We’re compressing years of learning for many companies and researchers into a four month window. As a result, all the teams learn they’re capable of going at a pace that’s orders of magnitude faster than what they’re used to. This is always done with a focus on product directed discovery – doing science to discover how to make a product people actually want.
On a day to day level this means:
– Running experiments in parallel
– Working with IndieBio’s scientific staff (Ron, CSO, and Jun, Science Director)
– Talking with other teams
– Creating mentor relationships through our global network and in the Bay Area
– Participating in a weekly scientific roundtable
– Science panel discussions with major biotech CSOs
We’re always pushing teams to close the distance between science and money. Your startup isn’t an academic project or research for a new paper. Becoming a real company means having a real product that people want and pay for.
We push founders beyond their comfort zone from day one. Most of our teams are relocating to a new environment in the Bay Area, building their first start up, and learning to do business for the first time. They are talking to potential customers and partners right away to close sales and test their assumptions on what the market really needs.
Our program shows founders to be relentless with emails, knocking on doors, and having in-person meetings as many times as it takes to close a deal. It’s about learning from every interaction to hone their pitch and iterate on product. They know their numbers – market size, cost of goods sold, profit margin, and more.
Finally, entrepreneurs figure out their ten year vision in order to work backwards and build a world changing biotech company.
On a day to day level this means:
– Cold call and email training
– Weekly business development round table
– Creating a powerful pitch deck
– Pitching to investors
– Forging corporate partnerships
– Selling product
We are in the heart of downtown San Francisco. We are located in the same building as HAX Boost, and the Revolution, which is a shared co-working space run by SOSV. Many of our graduated compananies continue working at the Revolution where they can be amongst the most exciting startups to be found in the world.
Revolution SF is SOSV’s flagship US location, where you’ll frequently see teams participating in IndieBio and HAX, plus some friendly SOSV faces. Located in San Francisco’s Mission District, it’s a 14,655 square foot space that was purchased by SOSV in 2015. Over 100 staff are typically working in this location, which includes a co-working area, numerous conference rooms, and a biotech laboratory, which contains 20 BSL1 and 4 BSL2 stations. Many IndieBio companies move to the Revolution co-working space after the 4 month program.
Next program starts Winter 2017. Early applications due August 30th!