SCIENCE ENTREPRENEUR
AWARD
TURN YOUR BREAKTHROUGH INTO GLOBAL IMPACT
For many scientists, moving from academia to entrepreneurship is daunting. Why turn a discovery into a real-world solution? Because breakthroughs can’t change the world if they stay in the lab.
The Future is Fungi is here to guide you — providing a nurturing ecosystem, expertise, and support to bring your innovation to the world for global environmental impact.
You bring the science. We’ll help you accelerate it. Because when you succeed, we all succeed. Take the leap.
APPLICATIONS ARE NOW CLOSED, SIGN UP TO OUR NEWSLETTER TO FOLLOW THE JOURNEY
SCIENCE ENTREPRENEUR PRIZE
Venture Builder Program
Top 5 scientists or teams
Designed to help you turn your groundbreaking research into real-world impact
Expert Network
Top 5 scientists
Gain access to a global expert network to back you on your startup journey
Financial Investment
For the winner
Backing your mission to turn science into
an impactful business
Fungal Fame
Top 5 scientists
A global spotlight showcasing
your innovation, unlocking
high impact opportunities
“We need pioneering scientists like you to transform fungal research into real world impact. Join the movement”
— Susanne Gløersen, Founder of The Future is Fungi Award
AWARD PRIZE
Learn how to build your company
A three month program for the top 5 scientists or teams learning how to build your startup.
Through expert-led lecturers, one-on-one mentoring and tailored resources, you will learn how to transform your pioneering discoveries into startups with real-world impact.
The program is free for the top 5 award winners, and we do not take any equity for participation.
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The program will run from the second week of September until second week of November. It will be run as an online programme so you can from your home country.
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This is an online-program, allowing you to participate from anywhere in the world.
Note however that you need to be able to participate in program sessions between 18:00-20:00 CET /09:00-11:00 PST /12:00 - 14:00 EST once a week. -
The program includes lectures, guest speakers, personalized coaching sessions and assignments to complete between lectures. You can read more about it in the section about the program.
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The award program is run in collaboration with a venture builder partner with extensive experience in running global programs for biotech and deep tech science entrepreneurs. They have among other designed and run venture builder programs for iGEM, BioInnovation Institute and NATO).
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In the end of the program, one winner will receive an investment, providing a valuable launchpad for the company’s next growth phase.
The other program participants may also have an opportunity to secure an investment. -
A prerequisite is that you target to incorporate a company within maximum 6 months from applying to the award, or has incorporated a company no more than 10 months before applying to the award.
You need to have an incorporated company in order to be able to receive the award winner investment.
Your innovation also need to have reached minimum TRL 3. -
There is no program fee for the 5 winning science entrepreneurs, and we do not take any equity for the program participation.
The winner investment to the winning entrepreneur in the end of the program is an equity investment.
Venture Builder Program
The winning science entrepreneur will receive a financial investment as well as a grant to boost your startup journey. Which science entrepreneur or team that will receive the investment and grant will be announced after the end of the 3 months venture builder programme, as they present to the final jury.
There might also be an opportunity to additional teams in the venture builder programme to receive an investment.
FINANCIAL INVESTMENT
The winning science entrepreneur will receive min. EUR 60 000:
EUR 50 000 dilutive investment
EUR 10 000 non-dilutive grant
The winner investments might increase in size until the finalization of the venture builder program in the autumn (by 10th of Nov). Pending the team, we would like to award a
EUR 200 000 investment.
What is a SAFE Investment?
A SAFE investment (Simple Agreement for Future Equity) is a financing instrument often used by a startup and early investors in the beginning of the incorporation of a company, when one often do not know the valuation of the company or how many shares an investment should give, and without immediately issuing shares.
It is a good way for both the founder/startup and the investor to be able to proceed and grant an investment. With the SAFE, the investor provides money upfront and “receive the right to obtain equity (shares) in the company at a later stage, usually when the company raises a future prices funding round". Later, when the startup does their first formal equity round and where a formal valuation will be set , the SAFE investment will covert to equity and follow the valuation of the company and associated shares set by the equity investment round. SAFE Investments can also be used in between financing rounds for startups.
A SAFE does not set a valuation at the time of the investment, noes nod accrue interest or have a maturity date. Why early startups uses SAFEs: its a simple legal structure, and it enables a faster fundraising process. Further, it does not give a debt obligation. The SAFE structure was introduced by Y Combinator in 2013.
The top 5 scientists will gain access to a global network of 30-40 leading corporations, experts, organizations and research institutions spanning multiple sectors. This network featuring partners such as Stanford, L’Oréal, Novonesis, BASF, DSM-Firmenich, Westerdjik Fungal Biodiversity Institute, Magan Centre for Applied Mycology, VTT, and many others that will provide invaluable backing throughout your journey.
EXPERT NETWORK
CORPORATES (such as L’Oréal, Novonesis, Sylvan.bio, BASF, DSM-Firmenich)
RESEARCH INSTITUTIONS (such as VTT, Westerdjik Fungal Biodiversity Institute, Magan Center for Applied Mycology, Standford)
STARTUP EXPERTS (across domains such as scaling, regulatory, IP, commerzial strategy, team building and more.)
FUNGAL FAME
The Future is Fungi Award shines a global spotlight on pioneering fungal science entrepreneurs, celebrating and elevating the boldest innovators shaping the future of fungi.
Get ready to be featured!
Beyond the prestige and visibility of the award, the top 5 science entrepreneurs will be featured and invited to:
Appear on The Future is Fungi podcast
Take part in exclusive Interviews
Present their work at select occations
Previous award winner have among other been featured in Nature Biotechnology, The Guardian, Financial Times and The Microbiologist along external podcasts and the awards own communication platforms.
“Discoveries can’t change the world if they don’t leave the lab”
— Wyss Institute for Biologically Inspired Engineering, Harvard University
Fungi based innovations: Applications are welcome from projects involving fungi, yeast, or mold.
Environmental impact: Innovations or technologies demonstrating positive environmental impact.
Scientist or teams: Solo scientists as well as teams with at least one scientists are eligible to apply.
TRL (Technology Readiness Level): Applicants must have reached a minimum TRL level 3 (experimental proof of concept) on the 9-level scale.
Global reach: Applications are open to participants worldwide.
Company stage: Not yet incorporated a company, or the company must have been incorporated no more than 10 months prior to applying for the award. If you have not incorporated a company yet, you need to plan to do so within max 8 months after applying to the award, otherwise we can`t grant you the winner investment.
WHO CAN APPLY
Send in an application. The award opens for applications from 9th of February until 16th of March.
The Future is Fungi Award and partners will then pre-screen the applications.
The Top 25 Applications will then be invited to the 2nd stage of application process, where we will ask you to send in more information in writing. We will ask you to answer questions based on the application you sent in, as well as an fill out an assessment so we can assess your readiness (note: it is not a requirement to be advanced, we will use this assessment to guide you in the work).
The award team will also reach out to the Top 25 Applications to set up an application process interview with the award and the venture builder partner.
Based on the additional information sent in and the interviews, the Top 15 Applications will be sent to the jury for review.
After the jury assessment, the Award Winner Committtee will assess the jury`s review and make the final decision on which 5 Science Entrepreneurs/Teams have made it to the top of the award, and will get a place in the venture builder programme, support from the expert network, a place on the Fungal Hall of Fame and possibility to win the award winner investment in the end of the venture builder programme
The Top 5 Science Entrepreneurs/Teams will then be contacted and notified by the award team by Friday 22nd of May.
The Top 5 Science Entrepreneurs/Teams will then be announced through the award`s communication and social media channels.
The venture builder programme starts the 2nd week of September.
APPLICATION PROCESS & JURY ASSESSMENT
Fungal based innovations/technology (fungi, mold, yeast)
Contributing to significant positive environmental impact
Big market opportunity & scaling potential
Frontier innovation
Strong value proposition
And more
The applicants will be informed about which critera the jury use to assess your application.
WHAT THE JURY LOOKS FOR
Confidentiality:
Confidentiality and protecting your innovation is of the utmost importance for us. We are here to back you so you can make it to wide reaching impact worldwide. So securing your protection is paramount for us. We are a nurturing ecosystem to help YOU.
That means we take specific care when you apply to the award and as you enter the venture builder programme.
1) Applying to the award: The jury members, the venture programme partner and award team all sign non-disclosure agreements (NDAs) detailing they are not allowed to share or otherwise use the information gained to safeguard all the applicants information. You find the jury here. As the initial application form is shorter, we anyhow recommend to keep the applications to the level information that you are comfortable sharing.
2) Going into the venture builder programme: all people associated with the venture programme (being the venture programme who already have signed an NDA), external expert speakers and the advisors to the programme all sign NDAs to safeguard your information and IP. They are not allowed to reshare or use any accuired information.
This award is for you. it is so you can bring your innovation to its highest potential and go change the world. We are here to support you as a nurturing ecosystem. So it is of our utmost importance that you know we safeguard your work and innovation. Any questions, do reach out tob me (Susanne Gløersen, founder and CEO) or get in touch with us at contact@futureisfungi.org.
