From Lab Bench to Boardroom: Kevin Chen's Journey with IndieBio

In a recent episode of the talk is biotech!" podcast, host Guru Singh (Founder & CEO of Scispot) sat down with Kevin Chen, co-founder and CEO of Hyasynth Bio, to discuss Chen's transformation from academia to entrepreneurship. Scispot is recognized for offering the best AI stack to life science labs, and through its talk is Biotech! series it highlights innovators at the intersection of science and business. In this conversation, Kevin Chen, whose company uses yeast fermentation to produce cannabinoids like THC and CBD, reflects on his journey as part of IndieBio's first startup accelerator cohort and how the program helped turn a wild lab idea into a venture-backed biotech company. This blog post distills Kevin's story, explores what IndieBio is and its impact on the biotech startup ecosystem, and shares lessons and insights for future biotech entrepreneurs.

Kevin Chen's Story: From Academic to Entrepreneur

Kevin Chen's path to biotech entrepreneurship began in academia. He earned a degree in biochemistry at Queen's University and was deeply involved in the iGEM synthetic biology competition as a student. In Montreal, he co-founded a community DIYbio lab (Bricobio) where in 2013 he met his future co-founders and hatched an ambitious idea: engineer brewer's yeast with cannabis plant genes to produce cannabinoids like THC.

At the time, this idea was unproven and high-risk, especially for two students with no company or funding. Nevertheless, Chen and his colleague Sarah Choukah "casually decided to apply" to a brand new biotech accelerator program called IndieBio. To their surprise, the Hyasynth team was accepted into IndieBio's inaugural cohort in the summer of 2014, which took place in Cork, Ireland.

This meant Chen, then a Master's student at McGill University, faced a pivotal choice: stick with his academic program or drop everything to pursue the startup. "We didn't expect this to take off so quickly. We both went into it ad hoc, to see what would happen," Chen recalled of their mindset upon getting the IndieBio offer.

The offer was indeed compelling. IndieBio provided seed funding and lab space, but accepting it required leaving the structured path of academia. Chen ultimately decided to put his Master's on hold and move to Ireland for the accelerator, trading the prospect of a graduate degree for a shot at building a company.

"As a master's student, you tend to work on a pre-defined project for several years, whereas I wanted to try new things, test new ideas, rather than use old ideas to tackle a problem," he explained of his decision to leap into the unknown. Instead of a thesis, he would work toward a product: "the light at the end of the tunnel isn't a piece of paper [diploma], it's a great product that hopefully makes the world a better place."

Once in the IndieBio accelerator, Chen and his co-founders had to transform their idea into a proof-of-concept under intense time and resource constraints. In just a few months, working with "no lab, no gear, no playbook, just a wild idea" (as Guru Singh described it on the podcast), they hustled to clone cannabinoid biosynthesis genes, engineer yeast cells, and get initial fermentation results.

That summer of 2014 was like "an iGEM project" on overdrive, brainstorming in the spring, experimenting through the summer, and by fall presenting results to investors. With very limited budget and lots of improvisation, the Hyasynth team managed to demonstrate enough early progress by IndieBio's Demo Day to convince their first investors and raise a seed round in the fall of 2014. The accelerator experience had effectively turned a couple of grad students with an idea into startup founders pitching a vision of yeast-produced cannabinoids.

After the IndieBio program, Kevin Chen returned to Montreal to continue building Hyasynth Bio. The transition from the academic lab to a lean startup environment was challenging but rewarding. Chen noted that in academia there's often less focus on end-applications, whereas now "what we're doing has a direct impact" on the cannabis, synthetic biology, and pharmaceutical industries.

Over the next few years, Hyasynth grew from the founding team of four to a full company. They raised follow-on funding, including support from the Canadian government and later a $10 million strategic investment from Organigram (a Canadian cannabis firm), bringing total capital raised to around $12 million by 2020. The team expanded to roughly 30 scientists and engineers advancing the platform.

In a major milestone, by September 2020 Hyasynth became the first company in the world to commercially produce a cannabinoid via microbial fermentation: it made the first-ever sale of yeast-derived CBD (cannabidiol). This landmark proved that Kevin Chen's once "wild idea" had grown into a game-changing reality for the industry.

The Hyasynth Bio team grew significantly after IndieBio. Pictured: an early team gathering as the startup expanded (circa 2019). Today, Kevin Chen continues to lead Hyasynth Bio, which is recognized as a pioneer in cannabinoid biosynthesis. His journey, from university bench research to CEO of a venture-backed biotech, illustrates the power of stepping outside one's comfort zone. Key to that journey was the springboard provided by IndieBio's accelerator, which helped transform Kevin and his co-founders from academics into entrepreneurs.

IndieBio's Founder-Friendly Approach in Biotech

IndieBio is a startup accelerator with a mission to take scientists "from bench to startup" and was the first of its kind focused on synthetic biology and life sciences. Founded in 2014 by venture investor Arvind Gupta, IndieBio began in Ireland and soon after expanded to San Francisco (and more recently New York). Backed by the venture fund SOSV, IndieBio provides early-stage biotech companies with a mix of funding, lab space, and mentorship in an intense four-month program.

The program is extremely founder-friendly. It is designed for researchers who may have little to no business experience but possess a big scientific idea. IndieBio's approach recognizes that turning a biotech discovery into a product is challenging, and it offers a structured "scientist-to-founder" curriculum to bridge that gap. Participants receive hands-on guidance in developing a business model, engaging customers and partners, and pitching to investors, all while iterating on their science in a fully equipped lab.

What sets IndieBio apart is how it empowers academics to become entrepreneurs. The accelerator effectively lowers the barriers for scientists like Kevin Chen to launch companies. For example, IndieBio invests a significant seed sum in each startup (now $525,000 on average) and takes an equity stake. It also provides co-working space and a communal laboratory so the founders don't need to have their own lab infrastructure. This means a team of grad students can move into IndieBio with just an idea and, within months, emerge with experimental proof-of-concept and a viable business plan.

IndieBio also surrounds teams with a network of mentors, experienced entrepreneurs, industry experts, and investors, who coach the founders on everything from scaling technology to navigating regulations and pitching effectively. Crucially, IndieBio is willing to bet on first-time founders and high-risk ideas. Many of its portfolio companies are led by young scientists; in fact, 67% of IndieBio startups have at least one PhD co-founder. The program embraces the notion that great biotech companies can start in university labs and garage biohacker spaces.

Kevin Chen's acceptance into the first IndieBio cohort while he was still a student exemplifies this founder-friendly ethos. "No lab? No problem" could be IndieBio's unofficial motto, the program provided Hyasynth with the essentials so they could focus on the science.

During the podcast, Kevin highlighted how IndieBio gave him and his team a crash course in entrepreneurship. Instead of a slow academic pace, they were expected to build fast, developing prototypes, soliciting customer feedback, and iterating in real-time. By Demo Day, they had to transition from thinking like researchers to presenting like startup CEOs pitching a product vision.

IndieBio's cohort structure also created a sense of community; Chen was surrounded by other scientist-founders going through the same transformation, which fostered collaboration and confidence. This supportive, learn-by-doing environment is a hallmark of IndieBio's approach.

IndieBio's impact on the biotech startup ecosystem has been profound. Over its various cohorts, IndieBio has funded more than 270 companies across a wide range of biotech sectors, from therapeutics and diagnostics to agricultural and food tech. Collectively, IndieBio alumni have created over $12 billion in value (company valuations) and counting.

Success stories include notable startups like Upside Foods (formerly Memphis Meats, cultured meat), The EVERY Company (formerly Clara Foods, animal-free egg proteins), Geltor (lab-grown collagen), and many others that began as tiny teams of scientists with radical ideas. IndieBio's founder-friendly model has now been emulated in new biotech accelerators and incubators worldwide, helping to spur a generation of biotech innovation.

By focusing on "people, not just platforms," IndieBio has proven that investing in passionate scientists can yield game-changing companies. As Kevin Chen's experience shows, the accelerator can rapidly turn a novel concept, like brewing cannabinoids in yeast, into a venture that attracts major investors and pushes an industry forward. Today, Scispot partners with IndieBio to support their portfolio companies with digital lab management solutions.

Lessons for Future Biotech Entrepreneurs

Kevin Chen's journey offers several key takeaways for scientists looking to found biotech startups.

First, you may never feel completely "ready," but that shouldn't stop you. Leaving the familiarity of academia for the uncertainty of a startup is intimidating. Chen admitted that even he wasn't initially sure about taking the leap, but he recognized the opportunity was too meaningful to pass up. Aspiring founders should be prepared to embrace discomfort and risk in exchange for the chance to make a bigger impact. As Chen and his co-founder learned, sometimes you have to "pack up and leave academia" to pursue an idea, and that's okay if you believe in the mission.

Second, focus on assembling the right team and skill set. In Chen's case, the founding Hyasynth team combined strong science skills (in metabolic engineering and synthetic biology) with unrelenting dedication. They also sought advisors (like metabolic engineering expert Vince Martin) to fill gaps. A biotech startup is a team sport; you'll need co-founders and mentors who complement your expertise. IndieBio and similar programs can connect you to a network of like-minded scientists and advisors. Chen has noted that having confidence you can build and lead a team is crucial before diving into entrepreneurship.

Third, be ready to make sacrifices and adapt your goals. Startup life often requires personal and financial sacrifices. During IndieBio, Chen lived on a modest stipend comparable to a grad student's income, and Choukah actually gave up a prestigious PhD scholarship to join the venture. They viewed it as an investment in their future rather than a loss. If you truly believe in your idea, you must be willing to step off the traditional career path and work with uncertainty. This might mean delaying or foregoing a degree, relocating, or enduring a lower salary in the short term. In return, you gain a shot at creating something novel and valuable, as Chen put it, the reward is "a great product that hopefully makes the world a better place," not just a diploma.

Fourth, leverage accelerators and communities to speed up learning. One of the biggest lessons from Kevin's story is the value of programs like IndieBio for first-time founders. In just a few months, Chen's team learned to think about market needs, prototyping, and investor pitches, experiences that academia doesn't typically provide. Accelerators also lend credibility and initial funding that can be critical for biotech startups, which often have higher early costs. Modern lab operating systems have become essential tools for biotech founders to manage their experiments, inventory, and data from day one.

Beyond formal programs, communities like iGEM, DIYbio labs, or university innovation hubs can provide a sandbox for ideas. Chen's involvement in iGEM and Bricobio before starting Hyasynth gave him practical skills and a network that made the startup transition easier. Engaging with the broader biotech community exposes you to potential co-founders, mentors, and even investors who are excited about new ideas.

To summarize Kevin Chen's advice for future biotech entrepreneurs, if you:

• Have solid science skills and an idea with real-world impact

• Are deeply committed to building something important

• Are willing to make personal and professional sacrifices

• And are confident you can assemble a capable team

then you should "look to the world of entrepreneurship." The biotech industry today is ripe with opportunity, what Chen calls the era of the "bio-entrepreneur." Not long ago, software was seen as the only easy path for a startup, but now biology is an exciting frontier for innovation. If you meet the above criteria, an accelerator like IndieBio might be the catalyst you need to go from an idea in the lab to a company changing the world. Many biotech startups are now leveraging AI and automation tools to accelerate their journey from concept to commercialization.

Conclusion

Kevin Chen's journey from academic researcher to biotech CEO underscores the transformative power of founder-focused accelerators in the life sciences. With IndieBio's support, he and the Hyasynth Bio team turned a bold idea, brewing cannabinoids in yeast, into a funded startup that achieved a world-first in its industry.

IndieBio's role in this story highlights how crucial such programs have become in nurturing biotech innovation: they provide aspiring founders with resources, mentorship, and confidence to leap into entrepreneurship. The biotech startup ecosystem has been enriched by IndieBio's model, which has launched hundreds of companies and demonstrated that scientists can be great entrepreneurs when given the right environment.

As Kevin Chen's experience shows, moving from the lab bench to the boardroom is challenging but immensely rewarding for those willing to take the risk. It requires vision, grit, and the humility to learn business skills on the fly. But with institutes like IndieBio paving the way, more researchers are making this transition and tackling big problems through startups. Today's biotech founders have access to a growing ecosystem of tools and technologies specifically designed to help them manage complex scientific data and streamline their operations.

Chen's story, as discussed on the "Talk is Biotech!" podcast, is ultimately an inspiring blueprint for budding biotech entrepreneurs. It teaches us that groundbreaking biotech companies often start with one courageous decision: to venture beyond the academic comfort zone and build something new. With support from accelerators and a strong network, today's scientists have an unprecedented opportunity to become tomorrow's biotech innovators, turning scientific breakthroughs into real-world solutions just as Kevin Chen did with Hyasynth Bio.