FREQUENTLY ASKED QUESTIONS:
How much funding do Indie.Bio companies receive?
You get 35k in seed investment in exchange for 8% of the startup. You also have access to great perks such as accelerated DNA synthesis, lab space with the other teams, and more. There is immeasurable value in the connections and advice that you’ll receive with Indie.Bio and also in the opportunity to pitch to angel investors and venture capitalists at the end of the program during our Investor and Demo Day.
What sorts of companies do you fund?
We fund startups that are using biology as the basis of their technology. This spans processes, products and software. The key is that the business uses biology to solve a problem.
Who’s behind the program and why are you doing this?
Arvind Gupta is a genetic engineer turned designer turned VC at SOSventures. Jacob Shiach is a bioengineer and indie scientist. They and other scientists, entrepreneurs and designers got together and realized the time is right to catalyze the biology industry via early stage entrepreneur funding and support.
I don’t have a company, just an idea or maybe a half built prototype, can I apply?
Very much so. All you need to apply is an idea and a good team. We’ll help you with all the rest.
Do I have to be there for the entire 3 month period?
Yes. We require that you be primarily based in SF or Cork during the program. This benefits you because you can take advantage of the numerous learning opportunities, networking and coaching that will be provided. Indie.Bio is a major commitment, and we expect you to be present for a very intense ride!
Do I have to stay in SF/Cork when the program ends after 3 months?
No. It’s your company, so you can live where ever you’d like.
Can I apply if our company or founders are not from the USA? Can you help with Visa/immigration issues?
Yes. Anyone from anywhere can apply. You do have to be legally in California during the program, of course. Once accepted, we can help with legal/immigration issues.
I don’t want to patent my idea, Do you fund open source projects?
Yes, it’s your company how open or restrictive you want to be with your intellectual property is up to you.
What sort of control am I giving up by granting equity to Indie.Bio?
We don’t want any special or controlling interests in your company. We won’t ask for a board seat or for any uncommon investor rights. You will still run the show.
I’m a single founder. Can I apply by myself, or do you only accept teams?
While we don’t screen applications just because they have a single founder, it does make things more difficult. We look for great, balanced teams who have a full range of skills. We strongly advise you to seek co-founders who balance your skill-set.
Where will we live while we’re there?
That’s up to you – we don’t provide a place to live. If you’re accepted into BioDesign-X, we will help you find a place.
Will we have access to a lab?
Yes. We have a wet lab in our headquarters specifically for you to build your technology and your product.
Where are you located?
We are located at 485 Jessie Street in SF, California. In the heart of downtown SF, the accelerator is flanked by the storied Blue Bottle Coffee on Mint Plaza and Union Square. There are plenty of housing options within walking distance and the Powell street BART stop is just one blocks away!