A NEW APPROACH TO FUNDING EARLY STAGE SCIENCE
Breakout Labs is a fund within the Thiel Foundation that supports early stage companies as they transition radical scientific discoveries out of the lab and into the market. Their unique hybrid grant/investment approach helps startups get to the next critical R&D milestone making them stronger prospects for investors, including their own spin-out fund Breakout Ventures. Companies within the Breakout Labs portfolio receive grants of up to $350,000.
Join us as we hear from Breakout Labs Scientific Director Hemai Parthasarathy on how the fund started, why this model works and the types of companies in which they are looking to invest.
To be considered for a 1:1 meeting following the presentation, please submit an executive summary or nonconfidential pitch deck to firstname.lastname@example.org by March 15th. Criteria when choosing companies to meet with:
- Fundamental scientific breakthrough at heart of company, forms basis of “platform technology”, i.e. multiple possible applications
- Company (Delaware C-corp by the time grant is offered), has first commercialization hypothesis/goal
- At least 1 full time scientist in leadership role, preferably w/cofounder
- BOL funding ($350K) can support a serious derisking step in the technology (prototype, POC, animal studies etc)
- Company has not yet raised more than $1M in *investment* (grants do not count)
11:30AM - 12:00PM: Lunch & Networking
12:00PM - 12:30PM: Presentation by Hemai Parthasarathy, Breakout Labs Scientific Director
12:30PM - 12:45PM: Q&A
1:00PM - 2:30PM: 15-minute 1:1 meetings