BioInnovation x Climate Challenge
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BioInnovation x Climate Challenge
Applications are open for the BioInnovation x Climate Challenge, a startup competition designed to identify startups and entrepreneurs developing promising bio-based solutions for climate change in the fields of Food / Agriculture and Bio-Manufacturing. By applying, startups will join an ecosystem connected to industry experts and investors, to help shorten go-to-market timelines and encourage partnerships.
Purpose
Biology is not only about dissecting frogs or learning how organisms exist in their native environment. Today it is changing how we live, how diseases are cured, and how we will combat climate change.
Synthetic biology is using modern tools to open up a whole new field of biology – where organisms are redesigned for useful purposes by engineering them to have novel functions. These new manufacturing engines make it possible for us to harness the power of nature to solve complex and previously intractable problems in the world.
Recognizing its tremendous potential, Vectors Capital is launching the BioInnovation x Climate Challenge to direct the power of biology innovations to address our climate problems.
Challenge
What are the best ways bio innovations can be used to reduce greenhouse gasses (GHG) and mitigate the impact of climate change?
We want to learn how your company can reduce GHG and mitigate the impact of climate change along these two tracks:
FOOD & AGRICULTURE
How is modern biology applied to food and agricultural practices to reduce GHG emissions and produce food in a more sustainable way?
Different areas of agricultural practices and food production can be done sustainably using modern biology using:
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Alternative protein production
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Bio-fertilizers
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Bio-pesticides
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Low methane cow feed
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Low-water, high-yield crops
For example:
For example:
BIO-MANUFACTURING
How is modern biology used to sustainably produce resources that replace carbon-intensive materials?
Synthetic biology can be used to redesign organisms to produce building blocks that have traditionally been produced from petroleum. With synbio tools, microorganisms behave as micro-reactors instead of relying on multimillion-dollar reactors currently used in petrochemical plants.
For example:
Vectors Capital believes in supporting promising startups solving climate change problems. We want to promote your work, connect you with advisors and funding and accelerate the deployment of your solution with access to communities that understand the work you are doing.
Application Criteria
The BioInnovation x Climate Challenge is open to all submissions with a bio-based solution for reducing GHG emissions in the fields of Food / Agriculture and Bio-Manufacturing.
Applicants should fall in one of the following categories:
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Companies with no previous investment
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Companies in Pre-Seed, Seed or pre-Series A stages
The proposed business cannot be in violation of any intellectual property rights, including but not limited to patents, copyrights and trade secrets.
Selection Criteria
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Climate solution
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Viable and have a clear direct or indirect positive impact to climate change mitigation
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Demonstate a clear market need
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Identified a pathway to product-market fit
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Clear path towards cost reduction and commercial scalability
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Especially applicable to those bio-based solutions with end products as commodities
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Team
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Large total addressable market size and viable go-to-market strategy
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Strong defensibility
Finalists will be chosen and invited to meet and present their solutions to the judging panel of industry, venture capital, and corporate executives.
Panel Judges from Leaders in the Industry
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MITSUBISHI CHEMICAL GROUP CORPORATION
Small Title
Important Dates
The BioInnovation x Climate Challenge will follow the schedule below:
20
MAY
Application launch
27
JUNE
Application deadline
11:59 pm PDT
8
JULY
Application review phase
11 - 15
JULY
First round interviews
26
JULY
Final round presentations
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2
AUGUST
Winner announcement and Finalist public demo day
Note: this event will be held virtually
Challenge Awards
Winning solutions are eligible to receive funding from the Vectors Capital Climate Frontier Fund.
Support is designated across stage of company development:
Companies in Pre-Seed,
Seed or pre-Series A
$100K with a discussed term or MFN Convertible
Companies without
previous investment
$100K for up to $5M valuation
Companies with
pro-rata right
$200K to $400K to deploy in companies with hitting the next pre-discussed milestone and valuations
What is in it for startups?
We understand the challenges of commercializing bio-based solutions. Typically, the time from early stage research to full-scale manufacturing can span a decade or more. Furthermore, each stage of development has its own challenges. These delays in the process introduce uncertainty into bio-based ventures. We want to build an ecosystem to accelerate the time to commercialization and reduce the uncertainty. Here is how:
ACCESS
Connect with leading synbio companies and industry experts with the potential for developing go-to-market partnerships and advisor relationships
PARTNERSHIP
At no cost to startups, the Challenge provides introductions to strategic partners, advisors, mentors and investors
COLLABORATION
The BioInnovation x Climate Challenge is building a community around bio-based ventures
VALIDATION
Vectors Capital due diligence evaluates your concept
About Us
Vectors Capital is dedicated to supporting companies that can create a positive impact in solving global challenges.
Vectors Capital comprises the Vectors Climate Frontier Fund and Vectors Angel – investors who share our mission for supporting the founders creating real impact on the environment and human wellbeing.
We are engaged in solving humanity's toughest problems every day, and not just through investing.
