Thoughts from the President

March 15, 2024 - Progress Through the Start-Up Initiative

Dear Danforth Center Community,

Realizing benefit from the plant science we do is our reason for being. This means that a Danforth Center discovery or technology with potential for nutritional, crop productivity or environmental benefits actually needs to reach a farmer or other consumer. The products of our research somehow need to reach the marketplace and be taken up at scale by actual users. That’s why the Start-up Initiative was put in place as a strategic priority in 2021. The Start-up Initiative seeks to increase the pace of formation, and likelihood of success, of new companies from the Danforth Center. These companies will provide solutions that align with our mission and vision, and that contribute to growth of the innovation economy in our region.

How is the Initiative going, and what have we achieved since 2021? Let’s consider the Initiative’s five parts:

Strengthening intellectual property (IP) practices. Over three years, we’ve increased patent applications by 36% due in large part to Erica Agnew working closely with inventors. We recently added Amine Noueiry, Senior Patent Scientist, to increase capacity for patent filings and lower overall costs. With Elisa Morales, this is one of the best technology management teams I’ve seen!

Facilitation of Proof-of-Concept (PoC) research. With management by Elliott Kellner, we’ve funded 12 internal PoC grants of $50,000 to de-risk technologies, enable better IP, or otherwise advance a good idea to practice. Some successful projects have received multiple rounds of funding; three such projects have led to, or will likely lead to, creation of a company.

Vetting of technologies with commercial potential. Through engaging outside technical and market expertise, we are now gaining detailed understanding of industry needs, technical requirements, and market potential for our technologies before deciding whether or not to create a company. In one case, Keith Slotkin was awarded an NSF grant to fund this stage.

New start-up creation through Danforth Technology Company (DTC). As a for-profit subsidiary, DTC was created in 2021 to launch companies. Peptyde Bio, which exited in a sale to Invaio in late 2023, was the first, but it won’t be the last! Our goal is to start two more companies in 2024.

Initial funding of start-up companies. DTC is the first investor in new start-up companies, but it also secures funding from co-investors. Two DTC investments have been made to date – Peptyde Bio and Agrela Ecosystems (formed prior to DTC). Financial returns on these and other investments are intended to fund future start-ups.

I thank everyone who is contributing to the Start-up Initiative and helping in this way to deliver on our mission.

Jim Carrington,
President and Chief Executive Officer

Previous Weekly Messages from Jim Carrington

Danforth Center Response Plan

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