Solvay VC arm joins biotech startup consortium
In Belgium, Solvay’s venture capital fund has joined the Genesis Consortium to support biotech startups in SOSV’s development program. Dubbed IndieBio, the program includes early-stage, venture-backed companies with ties to Solvay’s key markets, including agritech, food, biobased materials and personal care.
“[W]e can modify the chemistry to the sectors where chemistry can employ industrial biotech and renewable feedstocks to provide sustainable, value-added alternatives,” Solvay CEO Ilham Kadri said in a press statement. “As a leader already in bio-based products like guar, bio-sourced solvents and vanillin, Solvay is uniquely positioned to help solve some of the most pressing challenges faced by society today.”
Founded by Silicon Valley-based venture capital firms SOSV and Mayfield, The Genesis Consortium is a global alliance of venture capital firms and corporations dedicated to supporting startups that leverage biotechnology to promote human and planetary health.
Category: Chemicals & Materials