The program’s 11th cohort will receive non-dilutive funding for collaborative research at the Donald Danforth Plant Science Center to develop and de-risk their technologies
The Wells Fargo Innovation Incubator (IN2), a technology incubator and platform funded by the Wells Fargo Foundation and co-administered by the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL), announced today it selected five startups to participate in the program’s 11th cohort. The cohort consists of sustainable agriculture companies focused on using biological solutions to improve the resilience of global food systems.
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“With growing populations coupled with environmental shifts, farmers need technologies that will provide more yield using available resources ultra-efficiently and in the least harmful way,” said Trish Cozart, IN2 program manager at NREL. “Agriculture technologies that provide diversified supply as well as resilience from disease play a significant part in securing our future.”
The selected companies will receive up to $250,000 in non-dilutive funding to conduct technical assistance projects at the Donald Danforth Plant Science Center in St. Louis, Missouri, a program partner, and the world’s largest independent plant science research institute. The companies will also benefit from a robust IN² cleantech ecosystem that includes industry experts, investors, and a nationwide Channel Partner network of more than 60 business incubators, accelerators, and university programs.
“This year’s IN² agtech cohort companies are creating new technologies that can help control and mitigate a variety of emerging crop vulnerabilities,” said Elliott Kellner, Senior Program Manager at the Donald Danforth Plant Science Center. “We’re excited to support the development of such a broad range of strategies by a cohort that is so diverse, in terms of commercialization stage and technological approach.”
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Originally nominated by program Channel Partners, the selected companies underwent an in-depth review by Wells Fargo, NREL, the Danforth Center, and IN2’s expert industry advisory board. The selected startups are:
- Cytophage Technologies, based in Winnipeg, Manitoba, aims to overcome the problem with evolving bacteria that becomes increasingly resistant to antibiotics by using synthetic biology to generate bacteriophage. Bacteriophages are evolved viruses that exclusively infect and kill bacteria and leave behind no deleterious effects on humans, plants, or animals. Cytophage Technologies will collaborate with Danforth’s Drs. Rebecca Bart and Allison Miller.
- Edison Agrosciences, based in St. Louis, MO, tackles the problem of the endangered natural rubber supply by increasing the amount of rubber already produced by the sunflower plant. The goal is to create a domestic supply, prevent further tropical deforestation, and improve farmer economics for a crop suitable for marginal lands. Edison Agrosciences will collaborate with Danforth’s Dr. Todd Mockler.
- Peptyde Bio, based in St. Louis, MO, strives to provide a safe alternative to combat fungal diseases even as resistance to current solutions accelerates. Peptyde discovers, designs, and develops novel biofungicides based on plant-derived antimicrobial peptides (AMPs), speeding transition of crop protection from synthetic chemicals toward natural alternatives. Peptyde Bio will collaborate with Danforth’s Drs. Mao Li and Noah Fahlgren.
- Robigo, based in Cambridge, MA, is shaping microbial communities to create a more sustainable food system. Unlike existing pesticides that indiscriminately kill microbes and wreak havoc on the environment, Robigo’s technology specifically targets pathogenic bacteria, creating more effective and environmentally friendly biopesticides that will clear the way for healthier soils and more productive crops. Robigo will collaborate with Danforth’s Drs. Rebecca Bart and Allison Miller.
- Synthetic Vector Design, LLC, based in St. Louis, MO, is partnering with a BioGenerator Ventures-formed company, Susterco, to develop and commercialize its technology. Crop losses due to disease cost farmers more than $220 billion per year. To combat this issue, Synthetic Vector Designs is developing novel methods to facilitate the site-specific transposition of large DNA fragments into selectable target sequences in plant cells to boost disease control. Susterco will collaborate with Danforth’s Drs. Toni Kutchan and Veena Veena.
“Future generations are counting on us to work together to transform the agriculture industry and increase food security,” said Jenny Flores, Head of Small Business Growth Philanthropy at Wells Fargo. “We need to support entrepreneurs and companies with innovative ideas as they prepare to go to market and help solve this global issue.”
With the addition of these five companies, IN2’s total portfolio now includes 66 startups, including 20 sustainable agriculture startups. Since joining the IN2 program, portfolio companies have raised more than $1.28 billion in external follow-on funding—equivalent to an average of more than $81 for every $1 awarded by Wells Fargo through IN2.
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