The BEAM Circular Accelerator Launches in California's Agricultural Heartland to Unlock Opportunities to Transform Waste into Value
In Partnership with gener8tor and HawkTower, the New Program Offers $30,000 in Non-Dilutive Funding, up to $100,000 in Venture Funding, and Strategic Mentorship to Bioeconomy Startups
MODESTO, September 19, 2024 - BEAM Circular, in partnership with accelerator network gener8tor and early-stage venture firm HawkTower, today announced the launch of its inaugural accelerator program aimed at supporting startups advancing innovation in the circular bioeconomy. The circular bioeconomy is a growing global sector that uses biology to create valuable bio-based chemicals, materials, energy, and consumer products from sustainably sourced organic materials, including by repurposing agricultural by-products, forestry residues, and other organic waste-streams.
The BEAM Circular Accelerator invests in world-class founders driving the future of innovation in biomanufacturing and bio-enabled climate solutions, providing access to the expertise, bioindustrial manufacturing capacity, and abundant agricultural resources of California’s Northern San Joaquin Valley. The region is poised to become a national leader in circular bioeconomy innovation, underscored by a recent National Science Foundation Regional Innovation Engines Development Award for efforts to advance bio-based products and climate solutions, and is home to a growing ecosystem of public and private partners dedicated to supporting bioindustry scale-up.
The BEAM Circular Accelerator will provide $30,000 of non-dilutive funding and up to $100,000 in venture funding to five innovative, high-growth startups each year. This intensive three-month program, based in the Northern San Joaquin Valley of California, offers participants strategic mentorship, lab and office space in the region, and access to gener8tor's extensive global network of mentors and investors. The program focuses on engaging founders who reflect the diverse communities impacted by environmental challenges.
"The BEAM Circular Accelerator is committed to fostering sustainable solutions that drive positive change in the Northern San Joaquin Valley and beyond," said Karen Warner, BEAM Circular CEO. "This new program, in partnership with gener8tor and HawkTower, will invest in the next wave of game-changing bioeconomy innovators who will shape a more resilient and sustainable future."
Ryan Jeffery, senior managing director of sustainability at gener8tor, added, "Our mission with this accelerator is to cultivate a platform that supports diverse founders working on the most pressing environmental challenges in the bioeconomy sector. We believe the Northern San Joaquin Valley has the potential to become a leading hub for circular bioeconomy innovation."
Participants in the BEAM Circular Accelerator will benefit from direct access to a distinguished group of mentors who are leaders in the bioeconomy sector, including engagement with BEAM Circular’s innovation partners across the University of California and at Lawrence Berkeley National Laboratory. Participants will gain access to investment options from venture partner HawkTower, along with connections to gener8tor’s global network of business mentors and investors. The program’s local and global network of investors and collaborators – which includes Western Growers, the Almond Board of California, The March Group, Plug and Play, California Farm Bureau Federation, BASF, Ponderosa Ventures, Enduring Planet, University of California Agriculture and Natural Resources, UC Merced, and other industry and innovation leaders – is designed to provide guidance, connections, and resources that will help startups scale and succeed in the marketplace.
Applications for the BEAM Circular Accelerator are open until November 17th, 2024, with the program set to commence in February 2025. Founders developing solutions in sustainable agriculture, renewable bioresources, circular manufacturing, waste reduction, and other areas of the circular bioeconomy are encouraged to apply. For more information or to submit an application, visit gener8tor.com/investment-accelerators/beam-circular.
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About BEAM Circular
BEAM Circular is building a vibrant regional ecosystem for the circular bioeconomy in California’s agricultural heartland, the North San Joaquin Valley. We are facilitating collaboration and catalyzing action through the BioEconomy, Agriculture, and Manufacturing (BEAM) Initiative -- a portfolio of public and private projects designed to scale the most promising innovations in bioindustrial manufacturing and to advance solutions that support economic and environmental outcomes for local communities.
About gener8tor
gener8tor is a global venture firm and accelerator network that supports startups, workers, employers, artists and musicians across race, place and gender. gener8tor partners with companies, governments, universities and nonprofits to operate accelerator programs and conferences in more than 45 communities across 25 states and three countries. Fast Company named gener8tor one of the Best Workplaces for Innovators in 2021 and 2022. The International Trade Council recognized gener8tor as the Global Venture Capital Firm of the Year in 2022.
About HawkTower
HawkTower is a venture capital firm that invests in early-stage startups focused on sustaining California's natural resources. Based in California’s agricultural heartland, we back a new crop of technology startups that will achieve exponential commercial scale by developing novel products that safeguard and maximize finite industrial and environmental resources. Investments address critical market imperatives in agriculture and agriculture by-products, natural systems, disaster prevention, and resource management.
MEDIA CONTACTS
Karen Warner
Chief Executive Officer
karen@beamcircular.org
Ryan Jeffery
Senior Manager Director, Sustainability
ryan@gener8tor.com