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.