How do I apply to IndieBio?

Please submit an application via our Application Portal. Applications are reviewed on a rolling basis year-round.

How does the application process work?

Our teams run a standard diligence process of applicants via a series of screening calls with members of the IndieBio team. Our screening calls will cover introductions, your 10 –  15 minute pitch (including materials). We will look to discuss your founding team, technology, addressable market, competitive landscape, and proposed technical development plan for the IndieBio accelerator program.

What kind of companies are you looking for?

We look for companies with deep scientific insights aimed at solving intractable or difficult problems that will impact 1B+ members of humanity. Human and Planetary Health is our mission. We see biology as a technology that can be applied across all verticals which can include therapeutics, the future of food, biomaterials, biological tools, diagnostics, synthetic biology, genomics, and data analysis to just name a few areas.

Companies can be based on hardware, software, or wet-biology and go straight to consumers or sell to business.

For the therapeutics track, because only $250K is upfront and the other $1.75 million is over time, we are looking for truly novel platforms and methodologies that need this time to prove their concept.

I don’t have a company, just an idea or maybe a half built prototype, can I apply?

All you need to apply is a well thought out idea with the science worked out at least in principle and a good team (two co-founders minimum). We’ll help you with all the rest.

I’m a single founder. Can I apply by myself, or do you only accept teams?

If you are a single founder, we suggest you apply, but understand that we will need you to find at least one other co-founder for us to fund your company and bring you to the program. All startups must have at least two people at IndieBio during the program (though it is normal to travel to conferences, visit customers, and check in back home.)

We look for great, balanced teams who have a full range of skills. We strongly advise you to seek co-founders who balance your skill-set.

Can I apply if our company or founders are not from the USA? Can you help with Visa/immigration issues?

Yes. Anyone from anywhere can apply. You do have to be legally in California or New York during the program, of course. Once accepted, we can help with legal/immigration issues. We have had experience with long visa delay times with certain countries and will require applicants from certain countries to arrive before other teams where visa issues have not been a problem. In order to attract investment, you should incorporate your company in the U.S.

Can I still apply if I already have funding?

Yes, we have accepted teams that have previously raised funding through venture capital, angel investors, or grants. We have had many serial and veteran founders who recognize the value of being backed by SOSV/IndieBio that it is not uncommon for startups to come in with previous dilutive and non-dilutive funding.

How much funding do IndieBio companies receive?

Our initial investment, which unlocks entry into our very selective IndieBio startup community, comprises two post-money SAFEs, executed simultaneously. The first is a Cash SAFE of $200,000 and the other is an IndieBio SAFE for all the resources, infrastructure, and services IndieBio provides to its portfolio companies. Both these SAFEs are post-debt instruments. In simple terms, this means these are diluted in a qualified priced equity financing round, but not by other SAFEs, debt or convertible notes. 

Based on performance against value-inflecting milestones, we also offer an additional $250,000 SAFE from the Genesis Consortium (also a post-debt instrument) at a valuation cap of $6M.

The IndieBio mantra is to reduce the cost, not the chances of risk. It is for that reason that our initial check size is smaller than a typical Seed investment – it allows us to de-risk the red hot risk – and set the company up for venture speed and scale.  While our initial check size may perhaps seem smaller than you desire, most companies will garner millions from us as they grow and evolve into iconic companies in their respective market space.

How much equity does IndieBio take?

Our ownership target is 10% equity in a company at Series Seed. 

Simply put our Cash SAFE and IndieBio SAFE will both convert and dilute upon the next qualified priced round financing based on the terms thereof (estimated 30-40% dilution based on our historical data). We will exercise our pro-rata right to invest more alongside the new investors to retain our goal of 10% ownership. Typically this amount ranges from $250k-$500k, depending on the size and terms of the round.

What is IndieBio’s value-add beyond investment?

We are a hands-on venture capital fund. We aren’t a spray-and-pray accelerator. There are many educational startup programs, pre-accelerators, studios, and business model canvas-type materials out there. With our in-kind investment, we will roll up our sleeves and become strategic members of your founding team for a 4-5 month pre-seed sprint. Think customized working sessions and less startup school.

We hold ourselves and our startups accountable by agreeing upon milestones ahead of our investment and tracking these at a set cadence, in high resolution. Our best-performing startups have thrived under this structure, setting ambitious targets, and measuring and iterating against these targets week after week.  

The IndieBio package is bespoke to every company based on the specific technical and business objectives that company needs to achieve in order to raise an optimal financing round with the highest quality of investors.  

Starting with the pre-seed sprint, all members of our team, including our General Partners, are on speed dial and highly tuned into exactly what is going on with your company. You don’t have to wait for a weekly or even quarterly board meeting to meet with us – we are always one DM away. 

The investing team at IndieBio works daily with founders to troubleshoot any and all aspects of the business, problem solve, cut through interferences and obstacles, and build a solid foundation together. With the In-Kind investment we invest our human capital in multiple ways to supercharge your pre-seed startup. These services include but are no way limited to fundraising, business development, recruiting, technical debugging, executive coaching, tech transfer, coworking office space, IP, accounting, lab & supply chain infrastructure, SOSV’s perks packages, AWS Credits, NVIDIA links, grant writing, vendor network and so much more! 

Every IndieBio team member has worked with 100s of startups and has an extensive network across the deep tech value chain: from benchtop research to conglomerates. We have provided multiple key intros to corporate champions and made sales calls for our companies. Companies can count on us to help structure multi-party corporate deals and partnerships, not just at pre-seed but also as they scale. 

Beyond services, perks and the financial terms, the real value of the program comes from the intangibles – the camaraderie that comes from pushing the next frontier of human and planetary health together, and from the extraordinary IndieBio community that you will join. This community includes over 200 startups that have come before you, which have raised >$4B over the years. Our founders take a keen interest in paying it forward and generously share their hard-earned lessons with other IndieBio founders. As you can tell, we like to be really involved and love what we do. We realize this level of participation by investors is unique and atypical. Many founders tell us that they didn’t know how much help they needed to overcome the valley(s) of death. The bar to raise a Series Seed/A is so much higher than it used to be just a couple of years ago, and we know how to get you there.

What sort of control am I giving up by granting equity to IndieBio?

We don’t seek any special or controlling interests in your company. Our investor rights  are quite standard. For our initial investment, we ask for a board observer seat but not a voting board seat. Our goal is to create founder-driven companies that are fully enabled and equipped to confidently make high-quality decisions for themselves at venture speed.

What fundraising opportunities will I have through IndieBio?

Fundraising is a marathon and we put in the sweat equity to work with every company in our portfolio in both boom and tough times. While founder hustle and grit are table stakes for any of our startups, IndieBio will contribute essential ingredients to the process such as championing a startup to a prospective lead investor, building trust with a syndicate, and providing a key signal to the next stage of investors through our follow-on investment. We are calling investors on your behalf all the time, giving them a preview, and keeping them warm about your progress. 

During the program a company can expect to meet with 50 to 100 investors. Our investor days are watched by hundreds upon hundreds of investors and we have a curated list and dedicated portal to reach funds, angels, CVC, and high-net-worth individuals in our ecosystem.  In addition to our virtual outreach, we host multiple invite-only curated events bespoke to sector and stage, bringing the best investors and select startups together for high-resolution interactions. 

Expect IndieBio to be heavily involved in compiling fundraising materials, pitch practice, and data room prep. We believe our founders should be busy building trust and rapport with top-tier VCs, generating crucial data, and building the business, not spending countless hours on styling pitch decks and studying boilerplate templates. For this reason, our investor days involve the IndieBio team doing a lot of heavy lifting and working with our companies to produce sizzle videos. Check them out here: https://www.youtube.com/@indiebio1 

And this is just for your Series Seed. As we mention above, we are a multi-stage VC and we are in it with the founders for the long run. We will continue to be champions and work with you over and over for every funding round and value-inflection in your startup’s journey.

What/who is SOSV and how is it related to IndieBio?

SOSV is the global venture fund that runs IndieBio. IndieBio is one of the SOSV brands, not a standalone fund, and all team members at IndieBio are SOSV employees. SOSV continues to invest in our companies at the seed stage and beyond. SOSV is set up so that 1/4 of our total fund is deployed at pre-seed, and 3/4 is deployed in follow-ons as the companies grow. This separates SOSV and IndieBio from other accelerators and pre-seed funds. SOSV is one of the most active investors in the world, managing over $1.5 billion. We are currently deploying out of a $306M core fund.  When you join IndieBio, the investments will come from an SOSV investment entity and this is how we will show up in your cap table.

What is the IndieBio program curriculum and experience like?

Our program is a mix of all-group sessions (4-5 hours a week) and small-group sessions (2 hours a week) and weekly reviews between each startup and the IndieBio team. In addition there are a high daily rate of interactions with each startup, which might be in person, over Slack, or Zoom. For the all-group sessions we bring in panels of mentors and talks about tech product production, business models, intellectual property, sales, product design. We do significant small group sharing with CEOs and CXOs. Remote startups do get just as much attention as those in person.

We must reiterate that the IndieBio services package is bespoke to every company based on the specific technical and business objectives that company needs to achieve in order to raise an optimal financing round with the highest quality of investors.  

Starting with the pre-seed sprint, all members of our team, including our General Partners, are on speed dial and highly tuned into exactly what is going on with your company. You don’t have to wait for a weekly or even quarterly board meeting to meet with us – we are always one DM away. 

The investing team at IndieBio works daily with founders to troubleshoot any and all aspects of the business, problem solve, cut through interferences and obstacles, and build a solid foundation together. With the In-Kind investment we invest our human capital in multiple ways to supercharge your pre-seed startup. These services include but are no way limited to fundraising, business development, recruiting, technical debugging, executive coaching, tech transfer, coworking office space, IP, accounting, lab & supply chain infrastructure, SOSV’s perks packages, AWS Credits, NVIDIA links, grant writing, vendor network and so much more! 

Every IndieBio team member has worked with 100s of startups and has an extensive network across the deep tech value chain: from benchtop research to conglomerates. We have provided multiple key intros to corporate champions and made sales calls for our companies. Companies can count on us to help structure multi-party corporate deals and partnerships, not just at pre-seed but also as they scale. 

Beyond services, perks and the financial terms, the real value of the program comes from the intangibles – the camaraderie that comes from pushing the next frontier of human and planetary health together, and from the extraordinary IndieBio community that you will join. This community includes over 200 startups that have come before you, which have raised >$4B over the years. Our founders take a keen interest in paying it forward and generously share their hard-earned lessons with other IndieBio founders. As you can tell, we like to be really involved and love what we do. We realize this level of participation by investors is unique and atypical. Many founders tell us that they didn’t know how much help they needed to overcome the valley(s) of death. The bar to raise a Series Seed/A is so much higher than it used to be just a couple of years ago, and we know how to get you there.

Where are your two offices located?

The San Francisco location is at 2565 3rd Street, Suite 318 in the same building as the Museum of Craft & Design and the famous Dogpatch Bouldering gym. Our New York location is opening at 7 Penn Plaza in Manhattan. We also support startups remotely, and we have startups in every region of the world.

Will we have access to a lab?

Yes. We have a BSL1 & BSL2 wet lab in our headquarters specifically for you to build your technology and your product. While the rent and access to the equipment is free, you will have to pay for your disposable plastics, reagents, cell lines and other consumables.

Does IndieBio provide housing?

We don’t provide accommodation. However, we will connect you with other teams in the cohort and generally help in pointing you to viable options.

How are you operating during the pandemic?

The IndieBio labs in San Francisco and New York are open for lab work. When the local case numbers warrant, we offer PCR and antigen testing regularly. The program — the seminars, panels, coaching and meetings — are being delivered online. Both NY and SF batches are being run in parallel, with all 15 staff from both locations bringing their expertise to both batches wherever possible.

Do I have to be at IndieBio for the entire 20 week period?

No. During the pandemic we began to work with companies remotely, and we are now very comfortable with it. However, we do need to emphasize that IndieBio is an absolutely full-time program, no matter where a startup is in the world. It’s very intense. We insist that founders are fully devoted to making their company great.

We do recommend startups take advantage of our SF and NY locations as much as possible, for networking, events, meetings, and the benefits of in-person coaching.

Do I have to stay local when the program ends after 4 months?

During the pandemic, IndieBio began working with companies remotely, and we are now happy to work with companies whether they can be here in person or not. However, we do need to emphasize that IndieBio is an absolutely full-time program, no matter where a startup is in the world. It’s very intense. We insist that founders are fully devoted to making their company great.

We do recommend visiting for periods. Based on experience, we recommend teams meet investors in person, for fundraising purposes, until they close their seed round, taking advantage of the vast network of founders, industry partners, investors, and press.

Long-term, about half of our companies stay local, and half move to another state or country. But all our alumni come back to visit and are warmly welcomed!

Who is eligible to become a mentor?

IndieBio seeks to connect founders to mentors that can provide insight across a broad range of topics. We look for academics, corporates, investors, industry experts, service providers, and entrepreneurs that are dedicated to sharing their expertise or experience in a particular field and build meaningful relationships with companies in the IndieBio portfolio.

How do founders engage with mentors?

IndieBio provides two avenues for mentors to engage directly with companies:

1. Accelerator Programming: Mentors can elect to work with groups of IndieBio companies to engage with companies as part of our regular accelerator programming. Examples include:

• Insights on relevant products and services
• Teach-ins, workshops, exercises, or consultations
• Open discussion and Q&A forums

2. Individual Mentorship: Mentors can request to be introduced to specific founders for more targeted engagement. Examples include:

• Regular touchpoints or advisory positions
• Networking opportunities
• Contracted services

What are the benefits of becoming a mentor?

IndieBio mentors have the opportunity to engage directly with companies in our portfolio, build a network across different geographies and industries, and gain exposure on the latest market trends and breakthrough developments in the life sciences.

IndieBio not only facilitates warm introductions to founders, but also organizes regular events to foster IndieBio and SOSV’s global mentor community. Mentors have the opportunity to attend program sessions, mixers, pitch events, and have early visibility on company progress in IndieBio’s accelerator programs.

What is the time commitment?

Mentors can choose their desired level of commitment. The IndieBio team keeps mentors abreast of upcoming events in your area and looks to facilitate partnership opportunities on an ongoing basis. 

How are mentors compensated?

Mentors work with IndieBio companies on a voluntary basis. We seek to create an enriching environment for early stage life sciences companies and appreciate the time and dedication of our global mentor community who help to further their success. 

In some cases, mentors that take on specific advisory roles with individual companies may over time have the opportunity to receive cash or equity compensation, extended at the company’s discretion. Service providers extending their offerings through IndieBio’s platform should work directly with companies to become their provider.

How do I become a mentor?

Please submit an inquiry via our Mentor Request Form. Our team will review your submission and will reach out to you on next steps.