Impressions of the iGEM 2019 Start-up Showcase
by Linda Kahl
Although the 2019 iGEM competition has ended, iGEMers continue to innovate and build upon the ideas and proofs of concept they tested in the competition. And to foster this innovation, iGEM is officially launching its own Entrepreneurship Program. Led by Will Wright, a former iGEM Ambassador and now iGEM’s Director of Entrepreneurship, the program seeks to support those who want to go beyond the competition by welcoming iGEMers back to the community where it all began.
“Over 150 founders have gone on to create synthetic biology ventures from iGEM who are changing the way the world works and the way our industry will develop. The iGEM Entrepreneurship Program will provide iGEMers with an opportunity to engage in finding their cofounders, meeting investors, and taking a designed challenged-based approach to validating their business case.”
As an early pilot for the Entrepreneurship Program, iGEM featured its first Start-up Showcase at the 2019 iGEM Giant Jamboree. Represented on the panel were eight companies with roots in iGEM at different stages of their start-up journey. iGEMers with early-stage ventures offered their insights into how they are turning their iGEM projects into flourishing companies:
Feles
Feles, developer of the Feles Box – a personal gateway to the biotech revolution.
Feles hardware, via Facebook (@feles.bio)
“Feles presented initially last year here at iGEM with nothing more than an idea and pretty posters, and we handed out a lot of swag and talked to all of you iGEMers about the problems you experienced. And from that we went on to create a fully functional lab in a box to not only support imaginative iGEM projects but also to enable bioimagineers throughout the world to do what they love.”
- John Min, co-founder of Feles
Biomatter Designs
Biomatter Designs, enabling technologies for protein engineering at the intersection of synthetic biology and AI.
Biomatter Designs attending CBS Entrepreneurial Day, via Facebook (@biomatterdesigns)
“I’ve been participating in iGEM for the last three years. I think iGEM itself is really marvelous to test out different ideas that later on spin out as companies. In 2017 we had a great idea, but it could not really be used in the market even though we won the grand prize. And knowing that we had this great team with which we can win the iGEM competition, we decided to go the next year with some idea we could turn into a company.”
- Laurynas Karpus, co-founder of Biomatter Designs
Inulox Ltd
Inulox Ltd, developing a natural science-based solution for combating the adverse effects of high sugar intake.
Inulox, solving sugar naturally, via Inulox.com
“Our start-up began about a year and a half ago. The idea originated from one of our co-founder’s iGEM project – year 2012. So it took quite some time and inspiration to get the ball rolling again and turn it into a company.”
- Carolin Schulte, co-founder of Inulox Ltd
Scintia
Scintia, pioneering affordable and easy-to-use laboratory equipment, materials, and educational resources in Mexico and Latin America.
Scintia lab equipment, via Facebook (@scintia.bio)
“Scintia came to be after having the privilege of participating in four teams in the iGEM competition – 3 Mexican teams and 1 team from the University of Edinburgh. From this experience I got to see how things are done in areas outside the Latin American region. I became inspired by other companies that have spun out of iGEM and asked how we could improve the way we do synthetic biology in Latin America. And for us it came in several ways – through education and supplying the tools needed for research and innovation.”
- Ricardo Camilo Chavez Martinez, co-founder of Scintia
Scope Biosciences
Scope Biosciences, developing a state-of-the-art CRISPR based diagnostic platform that will revolutionize point of care medical diagnostics.
Scope Biosciences founders, via scopebio.com
“The thing that happens with properly doing human practices is that you find out you might not be completely focusing on the exact thing that people really want. We were working on tropical disease, but every time we spoke with people they would tell us ‘Well it would be really nice if you could also make something for …’ and then you get a list of ideas. At the end of the competition when we were done, 4 of the original 10 people came back together and we took one of those ideas and really started to work on it.”
- Niek Savelkoul, co-founder of Scope Biosciences
Also represented at the 2019 iGEM Start-up Showcase were later stage ventures offering their perspectives on surviving the early years, securing funding, managing investor relationships, growing their team and more:
MiProbes
MiProbes, developing solutions for rapid testing of microbial contamination in food and beverages.
Miprobes website, via miprobes.de
“MiProbes is very much inspired by how iGEM teams work – you are thrifty, you are resourceful, you make a lot out of very little, and you manage to communicate the big vision that drives you while doing the wetlab work.”
SyntheX
SyntheX, creating and identifying molecules that disrupt or bridge previously undruggable protein-protein interactions for therapeutic and biotechnological applications.
SyntheX video capture demonstrating their technology, via synthexlabs.com
“The company was just an idea when we started. It was not a spin-out, it was not something we were working on in grad school. We applied for an accelerator that was a 4-month program with a little bit of money, and that’s how we got started.”
Asimov website, via asimov.io
“Lattice was funded by SBIR grants from the US government, and all the rest of the money was strictly from customers. Lattice is only in business because we have customers that give us money; it didn’t make sense to take money from investors. Asimov, on the other hand, did do a seed round and is about to announce its’ series A. The nice thing about that is you have a series of technical milestones you have to accomplish and you have to go out and execute on those. If you don’t, then you probably won’t be successful both in the business or in getting those investors to back you in subsequent rounds”
Hyasynth
Hyasynth, engineering yeast strains to isolate high-quality, pure cannabinoids for research or healthcare products.
Hyasynth team, via blog.hyasynthbio.com
“We did our own hiring. As far as hiring goes, iGEM drove that since I got my first experience there in ‘hiring’ iGEM team members, and I was able to transfer that culture and energy into what I ask from people in terms of personality. You try to hire people who will get along with the rest of your team.
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As evidenced by the packed room and questions from the engaged audience, the iGEM 2019 Start-up Showcase drew a great deal of interest and excitement among iGEMers. The iGEM Entrepreneurship Program is slated to officially launch in early 2020, and will feature a combination of venture creation labs, mentor match making and fast track access to the leading synthetic biology accelerators globally. To learn more about this exciting opportunity, contact Will Wright, iGEM Director of Entrepreneurship, at Will@iGEM.org
Are you interested in helping connect iGEM entrepreneurs with investors, mentors and corporate partners? Apply here to become a member of the Entrepreneurship Program International Committee (EPIC) by 02 December 2019.
