E1059: The Power of Accelerators E4 Sean O’Sullivan, Managing General Partner of SOSV on running capital intensive accelerators in hardware, life sciences & food science, unique follow-on strategy, cell-based meat going mainstream, China-based vs. US-based accelerators

This Week in Startups

Jason Calacanis

Technology

4.4 • 1.3K Ratings

🗓️ 13 May 2020

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

0:42 Jason intros SOSV's Sean O'Sullivan
4:19 How is operating in China during COVID?
5:22 Origin of SOSV, thoughts on in-person accelerators over remote accelerators, why hardware/life-science accelerators need in-person cohorts
9:02 Sean describes SOSV's typical deal terms, unique follow-on strategy & cohort size
14:27 What stage company are SOSV accelerators looking for? Does it vary by industry?
17:58 Sean describes SOSV portfolio company Memphis Meats & how they utilize bioreactors to create cell-based meats
23:06 When will we see plant/cell-based meat being cheaper than the real thing?
29:25 Will the issue of food-availability will be solved in our lifetime?
33:16 Will modern food science revolutionize taste & what is the holy-grail food that will be produced?
42:15 What is being done in the ingredients space?
48:58 How is running an accelerator in China different than running one in the US?
53:39 Embracing hardware, thoughts on Hardware-as-a-Service
1:00:44 Micro-terraforming

Transcript

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0:00.0	This Week in Startups, The Power of Accelerators series, is brought to you by
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0:41.3	Hey everybody welcome to this week in startups.
0:44.0	We're doing a special series, The Power of Accelerators.
0:46.0	What's an Accelerator or an Incubator?
0:48.0	You may have heard of these things before if you're new to the startup scene.
0:52.0	It's typically a 12 or 16 week program. Sometimes you do it
0:57.6	100% in person. Sometimes it's 100% virtual. Most of the time you make one or
1:02.2	two visits a week into a space with a bunch of people who are
1:05.9	investors and maybe even advisors or mentors and they help you accelerate the process of starting a company. So why would anybody do this? Well, most of the
1:16.8	accelerators out there in the world give you a little bit of money, somewhere between
1:20.8	$25,000 and $150,000 for a little bit of equity, somewhere between 5,
1:27.1	6, 7% typically.
1:28.7	I've seen some do 10%, some of them do 1 or 2%.
1:32.1	And they're all over the world. In the 90s we had incubators. Incubators were
1:36.8	slightly different. Usually it was one person or a team that came up with ideas and then
	...

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