Biology is the next big technology and we are looking for scientists that will usher the new wave of iconic life science companies.
“Nothing is normal in the new biotech; it’s inherently cross-disciplinary and purposefully attacks preconceptions of what can’t be done.”- Po Bronson
Scientists make amazing entrepreneurs due to their technical expertise, problem solving skills, resourcefulness and persistence. Over the years, the number of life science PhDs has been rising exponentially and at the same time running biological experiments is becoming faster and cheaper. Our ability to read, write, cut, copy and paste DNA more efficiently is significantly decreasing costs and increasing speed and accessibility of experiments. Tying these trends together, IndieBio enables scientists to build radically transformative companies through our unique program.
We take a design-driven approach to integrate product and business development in continuous feedback loops. Startups can rapidly prototype and get early customer traction at a pace that is closer to an IT startup rather than traditional biotech.
During our 4-month program in downtown San Francisco, scientists leverage $250,000 in funding with our fully-equipped labs, 300+ mentors and a galvanized ecosystem of industry, academia and investors that enables life science businesses to thrive. Our interdisciplinary team works with the companies every day to enable scientists to de-risk their science and business. Together we build the foundations of a viable and scalable business that can impact billions of people.
What types of companies do we look for?
We are here to fund scientists that can translate scientific insights into commercializable products that solve large scale human and planetary problems.
The biggest advantage a startup has is the precise focus on solving a problem from first principles. Our most successful founders build on deep technical knowledge with market insights that come from approaching the problem from all angles. As a result, startups create new business models, reimagine antiquated systems, or build industries from the ground up.
We welcome applications of biology for any industry. Thus far, our companies have represented the eight categories below, but we are most excited about companies that bridge multiple categories or invent new categories.
Despite the billions spent in R&D, we continue to treat symptoms and not the causes of disease. New modalities such as immunomodulation and functional metabolomics are setting a new paradigm in drug discovery and delivery. With gene therapy we will have the ability to directly edit our own genomes to fix inherited diseases and transcend our parents’ genetic material. Across all these modalities there has been a rise in platform technologies enabling repeated target and therapeutic discovery.
Regenerative medicine and tissue engineering will give us control of how we treat damage to our bodies, from losing limbs to restoring loss of function from paralysis to growing whole replacement organs. Furthermore, we can intervene and reverse the processes of aging.
We are only beginning to understand the brain. New biological and digital tools are needed to understand and treat neurodegeneration and mental health. Brain computer interfaces open up new possibilities for human consciousness.
Medical Devices, Tools & Diagnostics
Early detection of diseases that can seamlessly integrate in to healthcare workflows not only enhances decision making through precise real-time biomarkers, but also, eliminates centralized labs and administrative bottlenecks that are burdening the healthcare system. The advancement of research tools is critical for unlocking new knowledge that can lead to life-saving solutions.
Future of Food & Agriculture
Food supply cannot catch up with food demand at the same time supply remains inefficient and unethical. New biotechnologies are changing the unit economics of how we produce protein. Vertical integration of food and agtech can enable us to unbundle the food supply system and increase efficiencies of production.
Driven by faster and cheaper science, companies will bring biology direct to consumers in an increasingly personalized manner. The first human genome cost $2.7B. Today people can order an at-home sequencing kit for $100. Products are increasingly putting the power in the hands of the consumer to manage their own health.
Computational Biology, BioData, & AI
Biology is rich with data and complexity and companies are increasingly leveraging bio-processes with machine learning and automation, creating bio-feedback-loops to optimize each stage of a life science company: from discovery to manufacturing.
Industrial Biology, Biomaterials, & Clean Biotech
Not only is our demand for commodities unsustainable, the industrial processes for converting commodities into everyday products remains inefficient. Biology is inherently versatile and scalable. Cells, the building blocks of life, live to divide, and under the right conditions they can be engineered to create bio-materials and novel commodities that can then be scaled exponentially using fermentation without harming the planet.
Our Application Process
Online Application. Our application process begins with an online submission at http://indiebio.co/apply.
Technical due diligence. Selected companies are invited to a 30-minute video interview that focuses on technical due diligence. We encourage applicants to ask questions about the IndieBio program throughout the process.
De-risking milestones. If the first call is favorable, our team will set up additional calls to discuss the product, the business plan, and discuss the derisking milestones that the company aims to achieve by the end of the 4-month program. Often, homework is assigned to address certain questions. Once discussions are mutually favorable, an offer is made.
Deeper look into how do we evaluate companies. We evaluate companies based on five key questions.
- What is the technical insight that gives you an unfair advantage? This is often the core technology that can be patent-protected, whether it is licensed from an academic institution or developed in-house. What advantages does your technology have over competing technologies? How does your technology address the core problems you are trying to solve?
- How is the insight made into a product? Science itself is not a product. Product development starts with understanding the end user. What problem are you solving for the end user? What is the form factor? What is the workflow? What are the parameters for a successful drug? What product do you focus on first when you have a platform technology?
- How does the product form a sustainable business? What is the go-to-market strategy for roll-out when the startup is cash limited? How to gain adoption? How to navigate regulatory pathways?
- Can this business make $1 billion or touch the lives of 1 billion people? Venture capital investment seeks the potential for big returns and big impact.
- Is this the team to make it all happen? Arguably, the most important aspect of selecting teams at an early stage is the founders themselves. Do they have the experience and expertise to turn their technical insight into a viable business and propel the company into a flourishing venture? We look for founders who are coachable, able to make decisions rapidly, take responsibility, are resilient, and are passionate about their work. We look for founders who are self-aware and possess a growth mindset.
The interview style is informal conversations and we often instill a mini preview of the IndieBio program during the interviews. Our application timeline is rolling, with set deadlines that batch the interviews. We encourage applying early and sending periodic updates of progress even if you don’t hear back immediately. Updates are also encourage between interviews as it could take time for both sides to come up with good strategies. We also encourage re-applications if you were not selected for one class. Some of our most successful companies reapplied 6 months later with significant momentum. Most ideas and teams will take a while to mature. (Read “I have an idea. What’s next?” for the starter checklist.)
Lastly, we encourage you to due diligence on us. Learn more about our story and our program featured in Neo.Life. Attend or livestream our next Demo Day on Nov. 6th at the Herbst Theatre or watch the previous ones on Youtube. Talk to founders of any of our alumni companies or attend an event at our space.
We look forward to hearing your world-changing idea! Apply now at http://indiebio.co/apply!