YC Fireside: Surbhi Sarna + Reshma Shetty and Jason Kelly - Founders of Ginkgo Bioworks | Summary and Q&A

TL;DR

Ginkgo Bioworks is a platform company that offers highly automated labs and outsourced services to enable cell engineering and product development for various industries.

Key Insights

• 🔬 Ginkgo Bioworks operates like Amazon Web Services, providing highly automated labs as a service for cell engineering, allowing start-ups to leverage their infrastructure for product development.
• 💼 The company follows a platform business model, providing outsourced services to biopharma companies to gain access to scalability and automation that may not be available in their own labs.
• 📅 Ginkgo Bioworks was founded in 2008 and has been bootstrapped for five years before raising outside funding. They have maintained a frugal and resourceful culture even after obtaining more capital.
• 🤝 The company was founded by five individuals who met at MIT and were drawn together by their shared interest in synthetic biology. The camaraderie and expertise of multiple founders have contributed to their success.
• 💡 Founders should consider the possibility of getting their thesis advisor to join their company full-time, as it is a great signal of commitment and has the potential to bring significant value to the venture.
• 🚀 Bootstrapping and starting with customers in industries outside of traditional biotech can be an effective strategy, allowing for the development of a track record and generating revenue before targeting larger markets like biopharma.
• 💭 Founders should maintain a belief in their own ability to learn and adapt, as being a founder requires constantly acquiring new skills and climbing steep learning curves.
• 💡 Synthetic biology tools have significantly improved over the years, enabling the field to expand its applications and drive innovation in various sectors, such as drug discovery, agricultural biotechnology, and industrial biotechnology.
• 🌐 Ginkgo Bioworks aims to capture a substantial portion of the cell engineering market, serving biopharma, agriculture, and industrial biotech industries, and expanding into new areas where synthetic biology can make a significant impact.
• 🌱 The future of synthetic biology lies in further advancements in technology, particularly in automation, data generation and analysis, and improved understanding of biology, leading to more ambitious and groundbreaking applications.
• 👥 Ginkgo Bioworks partners with organizations in various fields, which opens up diverse opportunities and expands the range of applications for synthetic biology. The company continues to be excited about the potential of its partners and their growth prospects.

Transcript

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Questions & Answers

Q: What is Ginkgo Bioworks' business model?

Ginkgo Bioworks operates as a platform company, providing highly automated lab facilities and outsourced services for cell engineering and product development.

Q: How did Ginkgo Bioworks initially fund itself?

Ginkgo Bioworks bootstrapped for several years, relying on grant funding and equipment purchases on platforms like eBay before receiving outside funding.

Q: What are the main industries that Ginkgo Bioworks serves?

Ginkgo Bioworks serves various industries, including biopharma, fragrances, animal feed, and agricultural biotechnology.

Q: How does Ginkgo Bioworks differentiate itself from traditional biotech companies?

Ginkgo Bioworks differentiates itself through its highly automated lab infrastructure and scalable platform, which allows it to offer outsourced services and provide access to a wide range of tools and expertise.

Q: What is the future of synthetic biology according to Ginkgo Bioworks?

Ginkgo Bioworks envisions a future where synthetic biology tools become more accessible and widely adopted, leading to the development of new applications and innovations across various industries.

Q: How does Ginkgo Bioworks balance skepticism and ambition in its culture?

Ginkgo Bioworks maintains a culture of skepticism to ensure rigorous scientific and engineering practices, while also fostering ambition and embracing the possibilities of tackling challenging projects.

Q: How does Ginkgo Bioworks find its earliest customers?

Ginkgo Bioworks initially targeted industries like fragrances and animal feed, offering outsourced research services where there was a clear need for biotech expertise. This allowed them to gradually expand their customer base and attract customers from more traditional biopharma companies as their capabilities grew.

Q: What is Ginkgo Bioworks' long-term vision?

Ginkgo Bioworks aims to become the go-to platform for cell engineering and synthetic biology by capturing a significant share of cell engineering projects across various industries and expanding the possibilities of biological applications.

Q: What is Ginkgo Bioworks' business model?

Ginkgo Bioworks operates as a platform company, providing highly automated lab facilities and outsourced services for cell engineering and product development.

Summary & Key Takeaways

• Ginkgo Bioworks is like Amazon Web Services for synthetic biology, providing a highly automated lab facility for cell engineering and product development.

• The company started in 2008 and bootstrapped for several years before receiving outside funding, and has since grown to become a leader in the synthetic biology field.

• The founders emphasize the importance of being scrappy and resourceful, and the value of having a strong co-founder relationship.