In the ever-growing field of synthetic biology, continuously increasing numbers of funding providers and resources for entrepreneurs are boosting innovation. Standing out among all of this support is SynBio Axlr8r, a 90-day accelerator for synthetic biology startups in the idea stage. Funded by SOSventures, SynBio Axlr8r is working to bring synthetic biology innovators to Cork, Ireland to take advantage of the city’s life sciences and synthetic biology capabilities.
Starting in the summer of 2014, 10 project groups selected by the SynBio Axlr8r will head to Cork, where they will receive mentoring from business and biotech experts as they work turn their ideas into functioning companies. Further support will be provided through the use of space in a wet lab and $30,000 in seed funding. As many entrepreneurs struggle to raise the capital to create businesses, the goal of this program is to fill a great need.
Alongside this project, SynBio Axlr8r, in conjunction with multiple Cork-based organizations, is set to host a conference entitled The Synthetic Biology Future on Friday March 13th 2014. This event, expected to bring leaders in the field of synthetic biology to Cork, will showcase the city’s innovative and research friendly environment.
SynBio Axlr8r Mentor and SOSventures European Venture Partner, Bill Liao, believes that this is a great opportunity for Cork to get ahead of the curve in the synthetic biology space. With many top pharmaceutical companies located in Cork, Bill sees a future in which synthetic biology companies become a key to the updating of pharmaceutical processes.
As the field continues to grow and become increasingly viable, the synthetic biology industry has the ability to affect a plethora of other economic sectors. At the middle of this, Mr. Liao also believes that,
“By deploying our proven start-up accelerator methodology in Cork with our partners we see the possibility of making Cork and Ireland the centre of the synthetic biology universe attracting talented innovators to participate in a rich cluster of excellence at the crest of this global wave of new progress."
Over the next several years, as the synthetic biology revolution takes hold, Temporary Market Research (“TMR”) believes that the industry will grow rapidly. TMR estimates the worldwide synthetic biology market will be worth $16.7 billion in 2018, up from $2.1 billion in 2012. This rapid growth, working in concert with resource providers such as the SynBio Axlr8r, creates opportunities for synthetic biology trailblazers everywhere.
“Synthetic biology, at this moment, I think, is at the same point in time as silicon was back in the 1980s” – Bill Liao