Activate Investor Partnership Program

A program designed to bring together mission-aligned early-stage investors and Activate cohort companies to provide pre-seed investment capital to fellows at critical milestones.

Program Details

• Status: Pilot program launched summer 2022
• Geographic Scope: United States (multi-location fellowships)
• Focus: Closing the funding gap between early-stage science entrepreneurs and product commercialization

Program Structure

• Co-created with Impact Science Ventures (ISV)
• Goal: Create seamless investment pathway for mission-aligned investors
• Eligible Activate Fellow-led companies can draw down pre-seed investments at pre-established terms upon reaching certain milestones
• Pool of investor partners make coordinated investments

Target Companies

• Early-stage Activate Fellow-founded companies
• Companies with clear pathway to commercial value creation
• Companies demonstrating scientific breakthroughs in hard-tech sectors

Investor Requirements

• Mission alignment with Activate's vision (climate tech, clean energy, advanced materials, semiconductors, etc.)
• Commitment to supporting deep-tech/hard-tech innovation
• Willingness to co-invest with other partners
• Interest in supporting fellows at earliest stages

Key Partners

• Impact Science Ventures (ISV): Primary partner, venture capital firm focused on scaling scientific breakthroughs
  • Founded by Activate alumni: Robert Ethier (former VP of Investments), Michelle Kiang, Alain Harrus
  • Investment areas: Energy, manufacturing, materials, semiconductors, biotech, agriculture
  • Managing partners bring hands-on deep-tech experience

Background

• Addresses gap where lack of early-stage capital delays commercialization of hard-tech innovations
• Typical Activate Fellow company: 1-2 person team with scientific breakthrough but limited access to capital
• Program enables business model maturation alongside technology development

Companies Invested (as of April 2022)

ISV has invested in 9 Activate Fellow-founded companies including:

• Antora Energy
• UMARO Foods
• Sepion Technologies
• Liminal (formerly Feasible)

How to Participate as an Investor

1. Express Interest: Complete short form expressing interest in participating in pilot program
   • Form submission deadline: May 13, 2022 (Note: This deadline has passed; current participation details not specified in provided content)
2. Program Launch: Official launch occurred summer 2022
3. Investment Process:
   • Investor partners review eligible Activate cohort companies
   • Pre-established investment terms provided
   • Companies reach certain milestones to draw down investment
   • Co-investment structure with other participating investors
4. Ongoing Engagement:
   • Monitor company progress
   • Serve as advisors/mentors if desired
   • Participate in investor community

Investor Qualifications

• Demonstrated mission alignment with climate tech and clean energy
• Interest in deep-tech/hard-tech innovation
• Ability to make early-stage pre-seed investments
• Willingness to work with co-investors
• Access to operational expertise to support founders

Application Process for Current Opportunities

• Contact Activate directly for current participation opportunities
• May require:
  • Investment thesis/strategy documentation
  • Evidence of deep-tech/climate-tech experience
  • Financial capacity documentation
  • References from ecosystem partners