Founders at the University of Cambridge unveils START Accelerator 2.0 cohort
The eight new companies invited aboard cover software, AI, life sciences and physical science to solve global challenges across drug development, mental health and quantum computing.
All are founded by current and former Cambridge students, researchers and professors. The startups are now set to embark on the second of the organisation’s three-month accelerators, culminating with a Demo Day pitch to investors.
The programme is supporting entrepreneurs who are applying university research and technology to some of the world’s most difficult problems and powering growth through science. Here’s the run-down of the cohort:-
1. Sqwish: building a real-time prompt compression API to reduce the size of inputs to foundational models, cutting cost and latency, while preserving response quality
2. Pinepeak: solving the challenges of wildfire risk assessment with an ultra-granular simulator that has up to 90% prediction accuracy in urban and wildland areas
3. Trismik: provides fast reliable testing solutions for LLMs through a proprietary computer-adaptive testing method, delivering results up to 99% faster
4. Cambridge Adaptive Testing: tackling school-age mental health challenges with an innovative age-specific platform for efficient mental health assessment
5. Podromic: using AI to analyse data and predict how dementia patients will progress over time to support treatment
6. Electra Bio: powering the future of data-driven drug discovery through the production of lab-ready research tools to enable large datasets
7. Gastrobody Therapeutics: developing new treatments to tackle Crohn’s Disease and Ulcerative Colitis which affects more than half a million people in the UK alone
8. Stealth: a new quantum computing company operating in the semiconductor space, currently in stealth mode
Following the commencement of the programme, the teams will participate in the Founders at the University of Cambridge's annual Investor Day in London, where they will use everything they’ve learned during the 14 weeks to pitch their company to over 200 investors for further investment.
This is part of Founders’ mission to ensure Cambridge’s start-ups can compete with emerging companies from the likes of MIT and Stanford in the US.
Gerard Grech, Managing Director at Founders at the University of Cambridge, said: “I’m delighted to see the launch of our START 2.0 cohort and highlight the brilliant University of Cambridge start-ups building deep technologies that have the potential to change the world.
“If there is one thing Cambridge isn’t in short supply of, it’s ambitious entrepreneurs, but there hasn’t been a bridge between that ambition and flawless execution.
“Recognising that entrepreneurial journeys are unique, we’ve now developed and launched two other programmes to complement START, including SYNC, a co-founder matching and hatching programme and SPARK, an incubator in partnership with Kings College Entrepreneurship Lab.
“In the meantime, we’re committed to working alongside these exceptional Start 2.0 founders and their teams to transform their groundbreaking innovations into globally significant companies.”
The START Accelerator 2.0 is for early-stage deep tech companies with a connection to the University of Cambridge and is designed to accelerate and smooth the path to success. This strategic initiative is delivered by the University’s innovation arm, Cambridge Enterprise, to connect innovators with a wealth of expertise in venture building, investment and commercialisation.
This is complemented by access to a growing global expert community of more than 250 investors, industry executives, entrepreneurs and leaders, many of whom are University alumni.
Last year’s programme saw 11 companies participate including lithium-sodium battery startup Molyon which raised $4.6 million, co-led by IQ Capital and Plural, whilst several companies in the cohort are currently raising millions in funding collectively.
Amongst this year’s chosen cohort, the average age is 40; 81 per cent of participants have a PhD and the collective research years amongst the founders amounts to 69 years.
Together, the founders have raised nearly £8 million in non-dilutive capital, such as funding grants, for their companies. These eight chosen companies will now embark on a 14-week programme, where each team will undergo 50 hours of intensive mentorship from their own entrepreneur in residence (EIR) – one of the Founders’ network of over 250 experts, specialists and connections.
They will also receive non-dilutive seed funding, which includes funding from the University of Cambridge and investor partner Parkwalk Advisors, and benefit from free hosting by ideaSpace West, a co-working space on the West Cambridge site. Supporting partners involved in the program include sponsors KPMG, AstraZeneca, Hitachi, and the University of Cambridge Judge Business School.
Moray Wright, CEO at co-investor Parkwalk, said: “It’s wonderful to see a new cohort of innovative Cambridge entrepreneurs who are building companies at the intersection of AI, deep tech and impact.
“Cambridge is one of the UK’s top cities for VC investment but founders face myriad challenges taking their tech from the lab into the world, including a lack of funding and support to make this leap.
“We’re pleased to support the Founders at the University of Cambridge programme and we look forward to seeing how this new cohort progresses and scales during the 14 weeks.”
Martina King, CEO of Featurespace which recently exited for a reported $1bn following acquisition by Visa in the US, said: “Taking a company from the early stages of Cambridge spinout into an impactful business feels like sitting on a rollercoaster of exhilarating breakthroughs and humbling setbacks.
“Scaling Featurespace has been incredibly rewarding - staying true to a vision with limited resources isn’t easy to achieve. This is why I’m excited to support the Founders at the University of Cambridge programme and this new cohort, with a goal of creating businesses that truly make a difference.
“As these founders face challenges we are planning a shortcut to success by sharing our own triumphs and defeats.”