Equity 'If you build it, they won't come': Bison Ventures founders on scaling frontier tech
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Dec 4, 2024 
Tom Biegala and Ben Hemani, co-founders of Bison Ventures, dive into the nitty-gritty of scaling frontier tech. They discuss why AI isn't a miracle solution for biotech, yet remains vital for drug discovery. The duo also highlights eye-catching robotics startups, the tricky path to finding product-market fit, and the differences between pursuing venture funding versus grants. Their insights reveal both the excitement and the real challenges facing innovators in material science, climate, and more.
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Transitioning from Grant to VC Funding
- Seek VC funding after demonstrating proof of concept or a prototype, not just a science project.
- Look for pre-seed/seed investors when you have a nascent team and a decent chance of getting a product to market.
Bison's Investment Strategy
- Bison Ventures typically invests in seed and Series A stages, focusing on companies with initial product-market fit.
- Instead of revenue metrics, Bison looks for indicators like joint development agreements and pilot agreements.
AI in Biotech: Hype vs. Reality
- AI is not a silver bullet for drug discovery, contrary to the hype.
- AI needs massive datasets which are currently missing in this area.