Most scientific inventions don’t leave the lab. This VC firm is changing that

While working as an engineer at Tesla, Niccolo Cymbalist never planned to start a business. But he’d been considering an idea for new technology—an autonomous, wind-powered cargo ship. Then, while on paternity leave in 2024, he discovered a free program that helps scientists and engineers launch businesses for the first time.

Weeks after finishing the program, called 5050, Cymbalist had launched a startup called Clippership. The company’s first ship is being built in the Netherlands this year. Without the accelerator, he says, the company likely wouldn’t exist.

The program has now helped scientists and engineers launch 100 businesses, from Huminly, which uses enzymes to make clothing infinitely recyclable, to Plasmidsaurus, which offers ultra-fast DNA sequencing.

The course is run by Fifty Years, a San Francisco-based VC firm focused on deep tech that tackles the world’s largest problems, from disease to climate change. Soon after the firm started a decade ago, the team saw that good ideas were stuck in academic labs.

“The transition from academic scientist to founder is actually much more difficult than the transition from sophomore dropout to founder, for a whole host of reasons,” says Seth Bannon, a founding partner at Fifty Years. “Because of that, the best people to start these startups—the scientists that invented the technology—weren’t doing that. So we said, ‘okay, can we help fix that?’”

From idea to startup

Potential founders go through a 13-week program—with some in-person weekends and weekly Zoom sessions—that helps them figure out if their idea is worth pursuing and whether it’s ready to commercialize.

The founder of Plasmidsaurus, for example, who was a postdoc at Caltech, initially joined the program planning to turn his lab research on synthetic gene circuits into a medical product. But the 5050 team helped him realize that it was around 10 years from being commercializable, and one of his other ideas—technology he’d developed to speed up his own research—was ready now. The company is growing quickly. “At year one, they just crossed a $50 million run rate,” Bannon says. “They’ve been profitable every month since they started. And they’re now one of the most beloved names in biology.”

Participants also learn how to build a startup team, understand what makes founders successful, and decide if entrepreneurship is a fit for them.

“One of the workshops that we do is the ‘story of self,’ where it’s a deep dive into their core motivation—their entire story of life and like what they’re doing today to really make sure that they’re actually pursuing something that they’re really really excited about,” says Ale Borda, who runs the 5050 program. “Then they can use that same story to share about their work and why they will go through walls to enable this to happen.”

They learn about how to communicate differently. “In academia, just as one example, you are taught to communicate with data, data, data—and then here are the 10 ways my data might be wrong,” Bannon says. While that’s good for research, “if you communicate that way as a startup founder, you will have trouble hiring anybody, you’ll have trouble raising money, you’ll have trouble getting press,” he says. “And so you have to learn to talk in directionally correct abstractions.”

Universities often also have programs to help move tech to the market, but schools are disconnected from the startup world, and Bannon says the programs aren’t very effective. (Mentors might be Fortune 500 executives, for example, rather than other startup founders with direct experience.) There are also conflicts of interest. Universities own the IP for new inventions scientists develop on campus; scientists have to go through a complicated process of negotiating for the rights to the tech. The program at 5050 includes coaching on navigating that process.

Turning scientists into founders

So far, the approach is working. “The stat we’re most proud of is that 96% of the teams that went out to raise a round were able to,” says Bannon. “That’s an insanely high stat for a program that accepts people who don’t have companies when they join.”

In the current political climate, as federal funding cuts have hit university labs, the program is already seeing an increased interest from scientists at a career crossroads. “A lot of them are seeing that they might not be able to continue their life’s work in academia anymore,” Bannon says. “Some of them happen to be lucky and be in a spot where maybe it could be a startup.” In the short term, he says, funding cuts might lead to more startups, though they’ll slow down future growth.

Of the 100 companies that have launched from the program so far, around half wouldn’t have started without it. Others launched faster than they would have. “I probably would have started a company, but it almost certainly wouldn’t have been at the time that I did,” says Daniel Rahn, a former SpaceX engineer who launched Metal as Fuel, a company that makes metal fuels to decarbonize heavy industry.

“These are counterfactual companies,” says Bannon. “These companies are combating the climate crisis, they’re defeating disease, they’re doing important stuff. And so it just feels really, really good to help companies come into existence that wouldn’t otherwise.”

View the full article