Start-up Helps Navy Lift Off with New Fuel

A San Francisco-based start-up, Solazyme Inc, has been selected to develop the world’s first 100 percent algae-derived fuel for use in jets and Navy ships. Launched in a garage in 2003, Solazyme produces natural oils from algae through fermentation as a basis for renewable fuels. The firm plans to have a production facility online by 2012. 

Eco-friendly innovations including alternative fuels are often left to out-of-the-box thinkers or entrepreneurs to bring to market. EcoTrek is a non-profit founded to help businesses identify the environmentally friendly practices they already have and help them use that to their advantage: by marketing it to consumers. No longer do company’s need to sacrifice power or speed in order to use earth friendly bio-fuels as is made evident through Solazyme and other bio-fuel entrepreneurs. 

Innovators Catch the Eye of Investors Today

For the very first time ever Springboard Enterprises, an organization that helps match women owned companies with venture capitalists, is in Madison, Wisconsin today. More than 100 companies from around the U.S. and beyond applied to participate in the forum, called AllThingsLifeSciences 2009. Eighteen were chosen, about half of them from the Midwest, including four from the Madison area: EraGen BioSciences, Eso-Technologies, Quintessence Biosciences and Stemina Biomarker Discovery. 

One member of Springboard’s Board of Directors points out that the four local companies were chosen for Springboard's road show because they have "very scalable" businesses. "Each has the potential to be a large company, certainly $20 million to $25 million, or even the possibility of $100 million. And the women CEOs are experienced and good presenters," comments Laura Flanagan, Springboard Board Member.

Quintessence, a Madison company working on drugs to fight cancer, is in phase 1 clinical trials but is looking for investors because their Phase 2 trials, which will test the drug's effectiveness on cancer patients, will cost about $20 million.