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ADM joins Genesis Consortium to support startups powering the future of sustainable innovation
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Monday, 07 June, 2021, 08 : 00 AM [IST]
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Chicago, USA
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ADM Ventures, the corporate venture capital arm of ADM, unveiled its collaboration with the Genesis Consortium. Founded by Silicon Valley-based investors SOSV, and Mayfield Fund, is a global alliance of venture capital firms and corporations dedicated to supporting startups that leverage biology to promote human and planetary health.
SOSV is the parent company of IndieBio, a leading startup accelerator and early-stage investor for biology-centered startups worldwide.
A global leader in human and animal nutrition, the company actively partners with innovators advancing sustainability across the company’s diverse, global business. Recently launched engagements with startup companies such as Air Protein, Spiber, and Net Power underscore the company’s dedication to sustainable innovation. This new partnership will accelerate the commercial launch and scale-up of startups that leverage biology to promote human and planetary health.
Ian Pinner, ADM’s chief strategy and innovation officer, said, “ADM and the Genesis Consortium share a common focus at the intersection of sustainability, nutrition, and health and wellness. We view the Genesis Consortium as a conduit through which ADM can collaborate with emerging players in the industry to bring to market new, natural products that simultaneously meet consumer demands and solve pressing global challenges. Innovative startups are unlocking scientific advancements by leveraging biology and fermentation to produce nutritional, health and wellness, and bio-material solutions sustainably and cost-competitively. ADM is focused on leveraging its deep expertise in fermentation to accelerate the commercialisation of these game-changing innovations.”
It unites a diverse network of technologists, venture investors, and corporations to translate life science breakthroughs into commercially viable businesses that solve pressing human and planetary health problems. The company builds a strong foundation for the early-stage venture ecosystem by supporting scientific and technical founders with the resources necessary to scale their life science startups from the earliest stages.
Arvind Gupta, founder of IndieBio and partner at Mayfield Fund, said, “We are excited to have ADM join the Genesis Consortium as leaders in the clean foods and materials movement. With industry giants like ADM, I am more confident in our fight against climate change.”
In addition to acceleration and incubation support for startups, the Genesis Consortium’s activities include regular events focused on emerging breakthroughs in life science, frequent tech talks and seminars at IndieBio’s event centers in San Francisco and New York, and an annual corporate engagement conference for venture investors and relevant corporations.
Sean O’Sullivan, managing general, and partner of SOSV, said, “The next 20 years will witness the unstoppable rise of biology and bio-manufacturing as the agents of change for a better planet. Breakthroughs in bio-engineering mean will bring physical abundance that is sustainable and good for everyone’s future.”
The company invests in cutting-edge start-ups with disruptive technologies across three key areas: human nutrition, animal nutrition, and sustainability. More precisely, the company seeks to create functional and clean label ingredient portfolios that advance the growth strategy of the company by both investing in and collaborating with startups that are focused on improving human and animal health and nutrition.
The company also seeks startups that utilise its assets and feedstocks to produce sustainable materials, in addition to technologies that enhance the effectiveness or efficiency of operations. The company's separate internal, incubated new products group creates and operates new product lines and new businesses.
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