I think they take ~20% equity for the $30k + lab space + mentor network.
On Mon, Dec 16, 2013 at 11:54 AM, Nathan McCorkle <nmz787@gmail.com> wrote:
What are the terms of this program? Is it a grant, loan, or do they
take a % of the company (if so, how much % or what other terms)? How
much publication is required, i.e. I want to keep my tech a trade
secret and just sell the what it produces?
--
On Mon, Dec 16, 2013 at 6:08 AM, Cathal Garvey
<cathalgarvey@cathalgarvey.me> wrote:
> Hey all,
> Time to spam you all again about something exciting in Ireland. :)
>
> For the TL;DR crowd: http://www.synbioaxlr8r.com/about
>
> For the rest of you:
> Synbio Axlr8r is a startup accelerator program for Synthetic Biology,
> planned and organised to take place this May 5th -> Aug 30th in Cork,
> Ireland.
>
> Pre-arranged for the program is funding, mentorship, and lab-space in
> University College Cork, furnished with the equipment you'd expect to
> need for Synbio projects.
>
> Funding is in the range of $30,000 for accepted entrants, and at the end
> of the 3-month program participants will have the chance to pitch to
> further investor groups or individuals.
>
> On the "board" at present are Bill Liao, Permaculturalist, Businessman,
> Speaker and Investor; Jacob Shiach, editor of the Citizen Science
> Quarterly, founder of Brightwork CoResearch, and officially tenured
> DIYbioer; and myself.
>
> Mentors onboard besides us already include: Andrew Hessel, Britt Wray,
> Douglas Ridgway, John Cumbers, Karmela Haynes, Martin Kelly, Nigel
> Sansom, Reid Williams, Sean O'Sullivan, Simon Bayly, and Phil Cotier.
>
> Entrants need not be Free/Libre (though I heartily encourage it), nor do
> they need to be proprietary (though I'm sure others will push for it).
> They do not *necessarily* need to focus on actual wet-work, either;
> advanced software or hardware that's directly relevant to Synbio will
> also be considered.
>
> This is a business-focused accelerator, however, so bring your ideas
> with a mind to forming a company and producing a product. In your
> application it may be worth considering the three cardinal rules of
> business and how you plan to apply them; how you'll make a product (1)
> that people want (2) at a price they can afford (3). However, like all
> other details of the final product, nothing need be fixed in stone at
> the application stage; it's more important to make the pitch than
> describe the outcome!
>
> From a purely nerd-love standpoint, this also stands to be a great event
> for exciting people to meet one another and share biohacking experiences
> that may be worth including in their print-on-demand, badly punctuated
> autobiographies someday.
>
> Looking forward to meeting and working with some of you this May! If
> you've ever had a Synbio business idea, this is as good a time as any to
> bite the bullet and make it happen, and I'll be happier the more
> biohackers we get in on this. ;)
>
> Best,
> -Cathal
-Nathan
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