Insights into global deeptech ecosystem from Hello Tomorrow Summit 2020
This year Luna Eresta Jaya co-founder of Balita, (an iGEM EPIC start-up) working to prevent child stunting and malnutrition through the bio-fortification of low-cost, traditional foods, was chosen to represent the iGEM EPIC community and check out the worlds largest deeptech event! We caught up with Luna to learn more about her experiences from Hello Tomorrow Global Summit 2020.
What did you learn?
I learned a lot, some of the key takeaways for me were;
The importance of having a proof of concept that can be tested as fast as possible. From the foodtrack it was mostly apparent that the companies being recognized were ones who had already recognized their MVP and had a clear testing strategy.
Having a versatile core tech was something that most successful teams shared in common. Their core tech was not limited to their pilot products, they could be applied to a wide assortment of applications even in different industries, this helped make their case seem very investible.
We need to break the barrier for regulatory and fear. Sometimes, active engagement with policy makers is needed and new regulations can be made together (like the case of Shiok Meats).
How did this change your perspective of Deeptech & SynBio?
Mostly it was a reminder to never forget the basics as a startup. My main insights were;
To always have the awareness to keep your team in line with making a market ready prototype to test and validate your value propositions. It is very easy to get lost in the complexities of deep tech.
Great reminder to constantly assess the sustainability and scalability of our solutions and the growing importance of aligning UN SDGs within your company goals.
We have to be really sure in answering the question “why is deep tech (synthetic biology) needed to solve this problem?”. At the end of the day, simple solutions shine and synthetic biology may need to be paired with conventional solutions for better acceptability/transition.
Click on the video above to learn more about Balita.
What advice would you share with iGEMers based on this experience?
My main advice would be;
NETWORK, NETWORK & NETWORK. Do not be afraid to initiate conversations with experts or investors. The best case scenario is of course if they’re interested, but even if they are not, they are usually happy to refer you to something/someone that is more suitable. Worst case scenario, you will get great constructive feedback and that is invaluable for planning ahead.
Ultimately, people are the ones that will go on and execute, the idea and the pitch deck on its own are just tools.
We are proud to have talented iGEM BioFounders, like Luna, represent us at deeptech conferences like Hello Tomorrow and will continue to offer similar representative opportunities in the future. Please feel free to reach out to epic@igem.org if you would like to be considered for our future representative opportunities.
If you are interested to learn more about iGEM Entrepreneurship please make sure to check out the rest of our blog and find out how to get involved in our program apply here.
About iGEM EPIC
The Entrepreneurship Program Innovation Community (EPIC) supports the development of iGEMs entrepreneurial community. The vision of the program is to become the driving force behind hundreds of SynBio based start-ups globally to help accelerate our transition to a more sustainable bioeconomy. The core of the program is focused on supporting iGEMers by connecting them to relevant co-founders, mentors, accelerators, investors and partners. This is done through a range of activities globally including the Venture Creation Labs, Mentorship Program, Fast Track Program and the Annual Startup Showcase.
