An equity-free accelerator scheme launched last year by Bristol deep-tech ecosystem Science Creates is aiming to create more innovative businesses following the launch of its second programme.
Science Creates Accelerate seeks to find the best fit between companies and investors, intentionally providing deep-tech founders and entrepreneurs with the best opportunity to succeed in their journey to improve the health of people and the planet.
Run in partnership with government agency UK Research and Innovation (UKRI), the flagship scheme is open to 24 innovators and is being supported by a number of leading European and US venture capital funds for the new round.
Under its unique partnership model, VCs take no equity and no ‘right of first refusal’ in companies formed through the accelerator.
The programme is open to anyone with an existing engineering biology start-up in its very early stages or anyone wishing to launch one, while the technology can be focused on either biomedicine, environmental solutions, food systems or clean growth.
Participants will have access to a variety of training and workshops, as well as a network of investors critical to a startup’s journey.
There is also the opportunity for selected successful candidates to unlock equity-free feasibility funding from UKRI for their startups to test the feasibility of their ideas and technologies.
The UK-wide hybrid programme will take place at Science Creates’ deep-tech incubation hub in Old Market, pictured, as well as remotely, over nine weeks starting on 17 June.
The accelerator programme is the brainchild of Bristol-based chemist and investor Dr Harry Destecroix, pictured below, who launched the city’s first science incubator, Unit DX, in St Philips six years ago after discovering there was no home for science companies in the city.
One of its first residents was his own business, University of Bristol spin-out Ziylo, a biotech working to develop one of the first smart insulins to help people suffering from diabetes and which was acquired a year later by pharmaceutical giant Novo Nordisk in a deal potentially worth $800m (£628m).
Harry, who is also managing partner of Science Creates’ venture capital arm SCVC, said: “Our objective is to build an internationally recognised accelerator programme that gives the direct training and mentorship that is so important when transitioning from scientist to entrepreneur.
“Neither SCVC nor our partners take any equity or option to invest, which is intentional because we believe the opportunity is both enormous and largely untapped.
“For us, it’s about getting the best VCs together and developing the best founders to forge great co-investments that will lead to building a new wave of multibillion dollar startups that could move the needle in terms of healthcare and sustainability.”
Among the funds joining SCVC in the round are Amino Collective, Giant VC, Local Globe and Pillar VC.
Giant VC investment partner Jon Dishotsky said: “I’m thrilled to embark on this journey with the Science Creates Accelerate team as we launch a groundbreaking engineering biology accelerator.
“At Giant Ventures, we’re passionate about backing purpose-driven entrepreneurs solving the world’s biggest challenges.
“This partnership aligns perfectly with our mission and offers an unparalleled opportunity to support and shape the future of biomedicine, clean growth, food systems, and environmental solutions.
“I look forward to contributing our expertise and getting an early glimpse into the entrepreneurial talents that will redefine our tomorrow. Let’s make a meaningful impact together!”
The new programme, funded through the UKRI Technology Missions Fund, follows the successful completion of the first accelerator, which took place last year.
It supported 19 companies – eight of them formed during the programme itself – focussing on deep-tech solutions such as engineering yeast to produce alternative food flavourings or textile dyes, developing novel targeted cancer therapeutics using synthetic biology and harvesting energy from waste using microbes.
More than half the graduating companies went on to receive equity-free feasibility funding from UKRI to help take their ideas to the next stage.
Dr Christopher Waite, who graduated from the first accelerator programme, said: “Joining the Science Creates Accelerate programme has put me nine months ahead in the development of my vision, venture and founder skills.
“I might have given up by now if I were still alone on this journey. I can’t recommend the programme highly enough for anyone who has an idea or some technology and would like to seriously explore founding an engineering biology company.”
Anyone interested in finding out more can visit one of the accelerator roadshows taking place throughout this month across the UK, including at Science Creates in Bristol, on 27 March.
Financial support will be available to applicants to ensure the programme is accessible to all and can support scientific founders from a diverse range of demographics backgrounds, career trajectories and company stages. This will include a £3,900 stipend to help with living costs.
Flexible, hybrid options for participating in the accelerator are also available for many elements of the programme, enabling participants to work around other commitments, and personalised support from experienced mentors and expert psychologists is included as a core part of the programme.
Expression of interest applications for the programme close on 3 April. For more information and to apply, visit https://www.accelerate.sciencecreates.co.uk/
