iGEM BioFounders on the rise
Amidst the extraordinary circumstances of 2020 a new generation of iGEM BioFounders are on the rise and they are an extraordinary source of hope in our efforts to transition to a more equitable & sustainable future!
The Entrepreneurship Program & Innovation Community (EPIC) began the year with three major questions in mind;
Where are they now? (the iGEM BioFounders)
What would our future look like if just 10% of iGEM projects became real-world solutions?
How can EPIC support iGEMers who want to make an impact?
Today there are 50 000 iGEMers all over the world tackling the some of our greatest challenges ahead within food, water and health.
Where are they now?
In 2004 the first ever iGEM competition was held, hosting only 31 participants. 16 years later, it has hosted over 50,000 students world-wide and given them the chance to develop exceptional problem-solving skills using synthetic biology tools.
We at iGEM EPIC asked ourselves the question ‘Where are they now?’ How many of these iGEM alumni are pursuing entrepreneurship and what impact are they having in their local communities? We have been seeking to reconnect with those iGEMers who have gone on to become BioFounders.
We are happy to announce this resulted in the creation of our first Discovery & Insights report which encompasses data on iGEM spinouts and founders, funding raised, social impact, jobs created and other insightful trends.
Check out the full report for more elaborate explanation of the compiled data about the iGEM entrepreneurial community.
To date we have globally identified 157 startups with roots in the iGEM competition from 27 different countries, who have collectively raised over $1.2 billion towards creating synbio based solutions in food, health and environmental challenges. A large majority (90%) of the identified ventures are still active and has to this day created ~1500 jobs. The number of female founders is also on the rapid rise with a 5-fold increase during the last 7 years.
You can read more about this in the EPIC Discovery & Insights 2020 Report.
Could it be a critical step for our transition to a sustainable bioeconomy?
What would our future look like if just 10% of iGEM projects became real-world solutions?
During the months of April, May and June, EPIC’s Venture Creation Lab (VCL) events took place in the EMEA, APAC and Americas regions. Around 90 iGEMers began their BioVentures, creating ~30 startups, meeting with co-founders to continue to work on their iGEM projects, practice the fundamentals of entrepreneurship, and receive mentorship from serial founders from the iGEM and synthetic biology community.
The teams are now working with their mentors to help them prepare for their first investments and we are looking forward to welcoming them to our Fast Track Program, which will matchmake them with relevant investment opportunities later this year in September. We also inviting the wider iGEM entrepreneurial community to join us as we highlight & celebrate our BioFounders at our annual Start-up Showcase in November. If you are interested to learn more about investment opportunities or would like an invitation to attend the Start-up Showcase, please email will@igem.org.
The next generation of biofounders
How can EPIC support iGEMers who want to make an impact?
This year, iGEM launched EPIC, as its pioneer entrepreneurship program to support the next generation of synthetic biology founders and to help accelerate our transition to a more sustainable bioeconomy.
The core of the program is focused on supporting iGEMers and researchers by connecting them to relevant co-founders, mentors, accelerators, investors and partners. EPIC’s activities include three global venture creation labs, mentorship programs and an annual startup showcase at the iGEM Giant Jamboree. You can read more about our ambitions, programs and activities on our new hub here.
As we are now half way through 2020 we will be taking some time to reflect on what has worked well and what could be improved in our programs for V.2 of EPIC and the creation of a more equitable synbio entrepreneurship ecosystem. It is our sincere hope that you will join us on this journey if you have any ideas, suggestions, feedback or would like to become a member of EPIC, please feel free to contact us at epic@igem.org
Will Wright, Director of Entrepreneurship
