ADM Joins the Genesis Consortium to Support Startups Powering the Future of Sustainable Innovation
Partnership to promote next-generation startups driving advancements at the intersection of sustainability, nutrition, health and wellness
CHICAGO--(BUSINESS WIRE)-- ADM Ventures, the corporate venture capital arm of ADM (NYSE: ADM), today announced its collaboration with the Genesis Consortium. Genesis, founded by Silicon Valley-based investors SOSV and Mayfield Fund, is a global alliance of venture capital firms and corporations dedicated to supporting startups that leverage biology to promote human and planetary health. SOSV is the parent company of IndieBio, a leading startup accelerator and early-stage investor for biology-centered startups worldwide.
A global leader in human and animal nutrition, ADM actively partners with innovators advancing sustainability across the company’s diverse, global business. Recently announced engagements with startup companies such as Air Protein, Spiber, and NET Power underscore ADM’s dedication to sustainable innovation. This new partnership will accelerate the commercial launch and scale-up of startups that leverage biology to promote human and planetary health.
“ADM and the Genesis Consortium share a common focus at the intersection of sustainability, nutrition, and health and wellness. We view the Genesis Consortium as a conduit through which ADM can collaborate with emerging players in the industry to bring to market new, natural products that simultaneously meet consumer demands and solve pressing global challenges,” said Ian Pinner, ADM’s Chief Strategy and Innovation Officer. “Innovative startups are unlocking scientific advancements by leveraging biology and fermentation to produce nutritional, health and wellness, and bio-material solutions sustainably and cost-competitively. ADM is focused on leveraging its deep expertise in fermentation to accelerate the commercialization of these game-changing innovations.”
The Genesis Consortium unites a diverse network of technologists, venture investors, and corporations to translate life science breakthroughs into commercially viable businesses that solve pressing human and planetary health problems. Genesis builds a strong foundation for the early-stage venture ecosystem by supporting scientific and technical founders with the resources necessary to scale their life science startups from the earliest stages.
“We are excited to have ADM join the Genesis Consortium as leaders in the clean foods and materials movement. With industry giants like ADM, I am more confident in our fight against climate change,” said Arvind Gupta, Founder of IndieBio and Partner at Mayfield Fund.
In addition to acceleration and incubation support for startups, the Genesis Consortium’s activities include regular events focused on emerging breakthroughs in life science, frequent tech talks and seminars at IndieBio’s event centers in San Francisco and New York, and an annual corporate engagement conference for venture investors and relevant corporations.
“The next 20 years will witness the unstoppable rise of biology and bio-manufacturing as the agents of change for a better planet,” said Sean O’Sullivan, Managing General Partner of SOSV. “Breakthroughs in bio-engineering mean will bring physical abundance that is sustainable and good for everyone’s future.”
ADM Ventures invests in cutting-edge start-ups with disruptive technologies across three key areas: human nutrition, animal nutrition, and sustainability. More precisely, ADM Ventures seeks to create functional and clean label ingredient portfolios that advance the growth strategy of ADM by both investing in and collaborating with startups that are focused on improving human and animal health and nutrition. ADM Ventures also seeks startups that utilize ADM’s assets and feedstocks to produce sustainable materials, in addition to technologies that enhance the effectiveness or efficiency of ADM’s operations. ADM Ventures’ separate internal, incubated new products group creates and operates new product lines and new businesses for ADM.
At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We’re a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over. Learn more at www.adm.com.
Source: Corporate Release
View source version on businesswire.com: https://www.businesswire.com/news/home/20210602005626/en/
ADM Media Relations
Source: ADM Ventures