Synbio Playbook for Techstyle startups – A Complete Guide for Founders
Synbio startups tend to have a higher failure rate than other tech startups, as most require longer development cycles with higher capital. Against that backdrop, The Mills Fabrica together with Bolt Threads are excited to announce the launch of “Synbio Playbook for Techstyle Startups: A Complete Guide for Founders”. In this playbook, we explore the different stages involved in commercializing synbio innovations within the food and fashion industries and address the key challenges that synbio innovators will face throughout the business growth journey.
Figure 1. Five critical considerations for synbio founders
Starting a business – from strategy to growth
The success and growth of a startup can be largely affected by decisions made at the start of the business. While it is important to define long-term value and vision, founders are expected to be flexible towards evaluating and adjusting their business focuses as their company develops.
Transiting from lab to factory
With proper positioning and setup in place, many startups still fail as they have the tendency to over-commit before their product is ready. To minimize risks and losses in a scale-up, start-ups are advised to start off with practical, small to medium-scale launches/ pilots for proof of concept and consumer approval, before committing to larger scales of production.
Leveraging various marketing strategies for market penetration
Once your company has demonstrated a successful scale-up, the next hurdle is how to market your product and to create sustainable pipeline of revenue growth. What are the best brand strategies for your brand? How can startups attract consumers and other brands via strategic partnerships and platforms across the supply chain? We look into how brands such as Impossible Foods, Perfect Day, Beyond Meat and Bolt Threads, reached out to a wider consumer market via effective implementation of various Go-to-market strategies, including D2C, B2B2C (brand collaborations), B2B, as well as other physical and digital marketing channels.
Figure 2. Go-to-market strategies (Source: Forbes, Fabrica analysis)
Fundraising towards a successful exit
Securing new funding rounds is a major turning point for startups. What would the production capacity be at each stage of the fundraising journey? What can founders do to plan for exits in the far future? In this section, we look at a “typical” fundraising trajectory, compare three main exit strategies for synbio startups, and identify trends and tips to help founders through their fundraising journey.
Figure 3. The fundraising journey of synbio startups (Source: Bolt Threads, Crunchbase, Fabrica analysis)
Building a better synbio ecosystem
There has been a sharp rise in the number of new synbio startups in the past 5 years. This is mainly attributed to the growing synbio ecosystem, which has helped enabled the growth of many startups. We have identified the following key players who have been contributing to this trend:
- In addition to providing capital, incubators and investors are offering valuable industry connections and support to guide startups throughout their business development;
- The government and development platforms help ease the commercialization process through providing equity-free grants and a range of stack services, including synbio-labs, bioreactors and contract manufacturers;
- Educational institutes with synbio-related courses & degree programs and R&D labs are actively creating a pipeline of talent and technology within the community;
- Wider synbio ecosystem builders, such as SynbioBeta, Biofabricate, are facilitating knowledge exchange and connections amongst synbio stakeholders via various events and platforms
Figure 4. Key players in synbio ecosystem (Source: Fabrica analysis)
Towards a synbio future
The synbio scene has seen rapid boom in the past few years with numerous exciting companies being launched. With the launch of this playbook, we hope to offer helpful tips to guide some of those Techstyle synbio founders in scaling up their technologies and businesses for the industry.
To learn more, please download the full report of Synbio Playbook for Techstyle startups – A Complete Guide for Founders
This information, statements, analysis, views, opinions and conclusions contained in this PowerPoint deck and any related materials have been prepared, compiled or provided by “The Mills Fabrica” (which expression covers those corporate entities include The Mills Limited, Fabrica Incubator Limited, The Mills (BVI) Limited and their subsidiaries, affiliates or partners) as a service to its members/site visitors/readers. They are not intended to constitute advice of any kind or the rendering of legal, consulting or other professional services.
All content found on this PowerPoint deck and related materials including figures, tables, charts, texts, images, audio, recording or other formats were created for information purposes only. They are meant to provide insights, and are general in nature, and the opinions or recommendations expressed in the Webinar PowerPoint deck are those of the authors only and may not necessarily represent the views of The Mills Fabrica.
All rights reserved. No part of any statement made in the course of this presentation PowerPoint deck may be used, reproduced, distributed or transmitted in any form or by any means, including photocopying, recording or other electronic or mechanical methods without the prior written consent of The Mills Fabrica.
Although The Mills Fabrica believes that all these information, both written and oral, given in the course of or in connections with the PowerPoint deck are correct and up to date, no warranty or representation or accuracy or suitability or reliability as to such presentation is given and no responsibility or liability is accepted by The Mills Fabrica or by any of its agents, directors, employees or by any person giving presentations or providing materials in respect of any loss, claims, costs or expenses, including indirect or consequential damages or lost profit, arising in any way from or in connection with errors or omissions in any information provided. The Mills Fabrica reserves the right to amend the information and the presentation at any time without notice.
The PowerPoint deck may include links to other resources and websites. These links are provided for convenience only and The Mills Fabrica does not endorse, approve or make any representation or claim regarding their accuracy, copyright, compliance or legality. Nor does it warrant the performance, effectiveness or applicability of any listed sites or links in the PowerPoint deck.
By accessing this PowerPoint deck, you acknowledge and agree that The Mills Fabrica disclaims any and all liability to you or any person for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising directly or indirectly from any access to or participation in or use of the information contained herein.