A Bristol-based accelerator aimed at helping deep tech startups turn ideas into breakthrough inventions has relaunched the second round of its flagship program.
Science Creates Accelerate was launched last year as a UK-wide, equity-free engineering biology accelerator in partnership with government agency UK Research and Innovation (UKRI).
This unique partnership aims to find the best match between companies and investors, without venture capitalists (VCs) acquiring equity or preferential rights in companies founded through the accelerator.
said Dr. Harry Destecroix, Founder of Science Creates and Managing Partner of SCVC. “Our aim is to build an internationally recognized accelerator program that provides the direct training and mentorship that is so important in the transition from scientist to entrepreneur.
“Neither SCVC nor our partners are receiving any shares or options for investment. This is intentional as we believe the opportunity is vast and largely untapped. For us, it’s about attracting the best VCs and developing the best founders to build great co-investments.” It will help build a new wave of billion-dollar startups. ”
The accelerator program is funded through the UKRI Technology Missions Fund and is open to existing engineering biology start-ups at very early stages, as well as any company wishing to start up. The technology may be focused on either biomedicine, environmental solutions, food systems, or clean growth.
The UK-wide hybrid program will run for nine weeks from 17 June and will be delivered at Science Creates’ Deep Tech Hub in Bristol and remotely.
Participants will have access to a variety of training and workshops, as well as a network of investors. Selected successful applicants will also have the opportunity to secure non-equity feasibility funding from UKRI for start-ups to test the feasibility of their ideas and technologies.
Applicants will be provided with financial support including a £3,900 bursary to help with living costs. Flexible hybrid options for joining the accelerator are also available for many elements of the program, allowing participants to avoid other commitments, and individual support from experienced mentors and specialist psychologists is at the heart of the program. included as part.
Amino Collective, Giant VC, Local Globe, and Pillar VC are just a few of the companies joining SCVC (Science Creates’ official venture arm) in support of Science Creates Accelerate. The first group to benefit from the VC partnership will be the upcoming Engineering Biology Accelerator Programme.
said Jon Dishotsky, Investment Partner at Giant VC. “I am excited to embark on this journey with the Science Creates Accelerate team as we launch the groundbreaking Engineering Biology Accelerator. At Giant Ventures, we are passionate about supporting causes. Ambitious entrepreneurs solving challenges.”
The launch follows the successful completion of the first accelerator program in 2023 supporting 19 companies, eight of which were founded during the program. The companies focused on deep technology solutions such as engineering yeast to produce alternative food flavorings and textile dyes. Developing new targeted cancer treatments using synthetic biology. It then uses microorganisms to recover energy from waste.
More than half of the graduating companies received non-equity feasibility funding from UKRI to take their ideas to the next stage.
Dr. Christopher Waite, an alumnus of the first accelerator program, added: “Participating in the Science Creates Accelerate program accelerated the development of my vision, venture, and founder skills by nine months. If I had continued on this journey alone, I might have given up by now. I can’t recommend this program enough for anyone who has ideas and technology and wants to seriously consider starting an engineering biology company.”
The accelerator program has a maximum capacity of 24 people and expressions of interest applications close on Wednesday, April 3rd.