Solvay Ventures joins start-up focused Genesis Consortium
Start-up

Solvay Ventures joins start-up focused Genesis Consortium

This strategic investment will enable the Group to accelerate and expand its offering of innovative solutions using biotechnology

  • By ICN Bureau | February 17, 2023
Solvay Ventures, the venture capital fund of Solvay, has joined the Genesis Consortium to support startups in SOSV’s IndieBio startup development program, which holds a portfolio of early-stage venture-backed companies with ties to Solvay’s key markets, including agritech, food, bio-based materials, and personal care. 
 
This strategic investment will enable the Group to accelerate and expand its offering of innovative solutions using biotechnology.
 
The Genesis Consortium, founded by Silicon Valley-based venture capital firms SOSV and Mayfield, is a global alliance of venture capital firms and corporations dedicated to supporting startups that leverage biotechnology to promote human and planetary health. 
 
SOSV is a multi-stage venture fund that operates IndieBio, a leading startup development program, founded in 2015, based in New York City and San Francisco, and focused on human and planetary health across categories including food, agriculture, materials, climate tech, and biopharma sectors.
 
Over the years, Solvay Ventures has demonstrated interest in Indiebio’s graduates’ companies, which represent a growing number of early-stage ventures with ties to Solvay’s commitment to innovating in chemical biotechnology.
 
This partnership is designed to strengthen Solvay’s position in biotechnology as part of the “Renewable Materials and Biotechnology” growth platform which aims to meet growing demand for sustainable solutions by increasing the share of renewable carbon in Solvay’s product offering and developing new business opportunities enabled by biotechnology. 
 
This growth platform complements the company’s activities in three other key areas: Battery Materials, Green Hydrogen, and Thermoplastic Composites.

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