March 14, 2024

From the Desk of the CEO: The first few months of 2024 have looked a bit brighter for science entrepreneurs. In the life sciences, our friends at Synnovation Therapeutics kicked off the year strong with the close of their $102 million Series A round in January (more on this below). We're also partnering with Delaware BioScience Association at its 2024 Life Science Conference (more on this below, too). 

Clean tech startups in 2024 should also experience increased demand. Our portfolio companies such as Lectrolyst, Carbon Reform, and Versogen continue to achieve critical R&D and commercial milestones and intersect with national initiatives such as the $750 million Mid-Atlantic Clean Hydrogen (MACH2) Hub.

National security needs continue to drive public investment support for advanced materials, and we are collaborating with Silicon Catalyst, the world’s largest incubator for the semiconductor industry to advance innovation and meet demand.

I’m also personally excited to have helped to craft the recently issued report from National Advisory Council on Innovation & Entrepreneurship (NACIE) on 🔗 Competitiveness Through Entrepreneurship:  A Strategy for U.S. Innovation and also to help craft and co-lead the entrepreneurship components of the Greater Philadelphia’s proposal to the EDA for a National Center for Precision Medicine. It’s gratifying to see this work on inclusive innovation come to life and see Delaware and the Greater Philadelphia region designated by the EDA as the epicenter of life-saving innovation. We’re not looking back ...

 - Bill

💡 NEWS & VIEWS

We're partnering with the Delaware BioScience Association to host the "Innovation and Investor Showcase" at their 2024 Delaware's DNA | Life Science Conference on May 9^th. The showcase will feature presentations from companies and investors that are driving innovation and growth in the Delaware life sciences sector like Prelude Therapeutics, Inventia, NiKang Therapeutics Inc., and First Fund @ The Innovation Space. 🔗Get your ticket(s) today.

🔗Meet the Spring 2024 cohort of our Science Inc. virtual accelerator program! This cohort is developing innovations in clean tech, advanced materials, and life sciences. We're excited to work with these startups over the next four months - keep an eye on our LinkedIn page and your inbox to follow their progress and learn more.

We're proud to sponsor and serve on the planning committee for the 2024 Startup302 Pitch Competition.  Startup302 is focused on high-potential; early-stage startups led by founders from underrepresented ethnic backgrounds, LBGTQ+, and women. The finals will be held May 16 at the Delaware Art Museum in Wilmington. We'd love to see you there.

🔗Bill was named to the inaugural Delaware 222 list from the Delaware Business Times. The list features Delaware's most impactful business, nonprofit, and civic leaders. Other members of The Innovation Space community that made the list were Yushan Yan of Versogen and Kris Vaddi of Prelude Therapeutics. 

🚨 ANNOUNCEMENTS

Spark Factory™ virtual mentoring events are held the third Thursday of each month. 🔗Apply now to get valuable feedback and support on your startup from industry experts!

Applications for the current 🔗 The First Fund™ investment program funding round close March 15. Don't miss out on up to $200k in lab space, cash, and support for your startup.

📰 COMPANY NEWS

Synnovation Therapeutics announced its 🔗raising of $102 million of Series A funding, making it Greater Philadelphia's largest venture capital deal of Q4 2023.

Prelude Therapeutics cut the ribbon to 🔗its new headquarters located at the Chestnut Run Innovation and Science Park in Wilmington. 

Sindri Materials received an EDGE Grant from the Delaware Division of Small Business. Pictured on the right are Kristopher Knight, Chief Deputy Secretary of State and Director of the Delaware Division of Corporations; Christopher DiMarco, Sindri Founder and CEO; and Delaware Governor John Carney.

Cellergy Pharma and Sindri Materials were named two of 🔗Technical.ly's 2024 Delaware RealLIST Startups.

Cellergy Pharma was awarded a 🔗Phase I Small Business Technology Transfer award of $300,000 by the National Institute of Allergy and Infectious Diseases to develop CAR T cell products to treat severe atopic allergic diseases.

Elyte Energy is partnering with the 🔗U.S. Department of Energy for a validation study to test the company's energy storage system in real-world scenarios to gather insights and data to inform technology improvements.

Carbon Reform has launched its 🔗Clean Air Access Fund to help organizations that are struggling with their indoor air quality or want to make their buildings greener.

A.D.A.M. has partnered with 🔗Icahn School of Medicine to use the company's bioprinting technology to improve patient outcomes by innovating bone implant delivery and soft tissue repair.

Torev Motors CEO Rory Brogan talked to 🔗Synapse's Hardware to Save a Planet podcast about building a sustainable future, the importance of innovation, and how to find success in a startup environment.

🔬 LAB SPACE AVAILABLE

The Innovation Space has more than 130,000 ft² of multi-use chemistry & biotech lab space, offices, conference rooms, and common areas, plus a full suite of analytical equipment for our residents.

📅 Schedule a Tour ➡

🤝 LET'S MEET UP

Here's where we'll be over the next few months. We'd love to meet while we're there - reply to this email to set up time to connect.

Bill @ Silicon Catalyst & SF Bay Area, April 1 - 3, San Francisco, California

Team @ Delaware's DNA | 2024 Life Science Conference, May 9, Newark, Delaware

Marcie & Jonathan @ Startup 302 Pitch Competition, May 16, Wilmington, Delaware

Bill judging Startup Stadium @ BIO International Convention, June 2-3, San Diego, CA

Bill @ Silicon Catalyst Showcase, June 4-6, San Francisco, CA

Share your news with us! Send us your news and updates, and we'll feature them in a future edition of Innovation Inside. Email them to Marcie Reilly at marcie@innovationspace.org.