Introducing D-Nome and Divya
Q: Can you briefly describe yourself and your company?
A: I’m Dr. Divya Sriram, the co-founder and CEO of D-Nome. We kicked off this venture about two years ago, and our focus is on molecular diagnostics. We’re all about making diagnostic tech as accurate as PCR tests, but way more accessible through our combo of synthetic bio and genomics. We’ve shrunk down PCR to a size where you could turn pretty much any place into a diagnostic lab.
Q: How did you come up with the idea?
A: The inspiration for our startup came while I was pursuing my PhD at CSIR CCMB in India. I was deeply involved in research on cancer cell signaling. During this time, I realized that the human body performs functions similar to PCR but at lower temperatures. This led me to question whether we could replace the complicated machines currently used in PCRs. With the Entrepreneurship Cell at CCMB, I started developing a sepsis diagnostic kit as a side project. This experience taught me how to transform a research idea into a practical product. Post that and eventually a business. The missing piece fell into place when I teamed up with my co-founder at Entrepreneur First. He had the tech skills that perfectly complemented my own, making our partnership a perfect match.
Why Divya Joined Entrepreneur First
Q: What motivated you to join Entrepreneur First?
A: Halfway through my PhD, life threw me a curveball. I lost a family member to an infectious disease—a loss that could’ve been avoided with an early diagnosis. That flipped a switch in me, yanking me toward infectious disease research. I took up projects at Johns Hopkins to dive deeper into infectious biology and realised that accurate, rapid diagnostics is a need especially with the rise in AMR infections and epidemics. I got back and knew one thing for sure—I wanted to bring something to life that could make a real difference. Entrepreneurship seemed like the avenue to make that happen. Started with a couple of boot camps in India to get the lay of the land.
But let’s be real, transitioning from the academic world to the entrepreneurial one isn’t a cakewalk. I needed some hand-holding, and Entrepreneur First felt like the perfect fit. Not only did it help me understand the basics of starting a company, but it also gave me the chance to meet my co-founder.
Navigating the Application Process
Q: Can you describe very briefly the application process of the accelerator?
A: Sure, the process was online when I applied. It kicked off with a form where you spill the beans on why entrepreneurship lights your fire and answer a slew of questions designed to see if you’re the right fit for the program. Once you’ve submitted that, you get to have an interview with someone from the EF team.
Now, EF is pretty savvy about team dynamics—they categorize applicants into techies, business buffs, industry experts, you name it. I got paired with an EF mentor for my interview, someone who’s continued to be a mentor for me even now. I still remember I was heading to the airport when I got the call saying I was in.
Q: How competitive was the application process and what do you believe set you apart?
A: Oh, it’s no walk in the park. EF was in just four locations when I applied—India, Singapore, Paris, and the U.S.—and they’re getting applications from all corners of the globe. We’re talking thousands of people throwing their hats in the ring, some of whom were colleagues of mine.
What gave me the leg up? I’d say it was my laser focus on entrepreneurship. I had already dipped my toes in some boot camps, so I wasn’t just talking. If you can show you’ve got the guts and the grind of an entrepreneur, that you’ve been hustling to make your goals happen, you stand a better chance. I think EF spots those traits, whether you’ve done the boot camps or just bring a killer idea or some solid expertise to the table. It’s all about proving you’re not just window-shopping—you’re in it to win.
What’s It Like Inside the Entrepreneur First Accelerator
Q: How does a typical day within the accelerator look like?
A: It’s a whirlwind! A blend of online and offline interactions set the stage, but the real value comes from one-on-one mentorship. Mentors assign tasks like conducting market research or finding the right co-founder. EF even offers a speed-dating style format for co-founder matchmaking, allowing participants to team up for short projects to see if there’s a good fit.
The program encourages you to engage directly with the market. Whether it’s street-level interviews or Zoom calls, the focus is on understanding market size, talking to potential customers, and gaining early traction. If you have a tech-focused idea, there’s also lab time for prototyping. Plus, they provide some initial funding to test your concept extensively before an official launch.
The emphasis is on rapid growth and hustle. You’re evaluated on your progress, and the program aims for exponential growth rather than a slow burn. This fast-paced environment provides instant, real-world feedback on the viability of your startup idea, making it an effective testing ground.
Q: How did you meet your co-founder during the program?
A: It was a last-minute miracle. Sujoy and I had each cycled through other teams when we decided to regroup. With just a week left to secure pre-seed funding, we already knew each other and decided to hash things out. During our conversation, we hit on a key insight that merged both our tech interests. Realizing the potential, we amended a grant I had already applied for, and quickly validated our partnership with some early wins—all within a month.
The accelerator’s emphasis on open dialogue made a significant difference. While Sujoy and I had been friends, being potential business partners required asking tough questions and challenging each other. Thanks to the program’s culture, we realized we were not just good friends but also ideal co-founders with aligned business goals. Ultimately, it felt like a twist in a rom-com, showing that you can never predict the next turn in the entrepreneurial journey.
Q: Did EF also play a role in helping you get LOIs and grants?
A: Sujoy and I had a strong foundation in India’s healthcare sector due to our academic backgrounds, which gave us an initial advantage. But the real game-changer was the ecosystem at EF. Our Entrepreneur in Residence, Prajwal, who also has a healthcare background, was instrumental in helping us refine our pitch to various stakeholders.
The community within EF is invaluable. A diverse group of founders surrounds you, each passionate about their projects. The cross-pollination of ideas and experiences is enlightening. Whether it’s insights into Direct-to-Consumer or SaaS models, you learn just by being in that environment.
Whenever I hit a roadblock, a quick message in the EF group chat often yields immediate and helpful advice. It’s like having a panel of specialists ready to assist at any time. Srikant Sastri, our VP at EF, was a crucial connector. He linked us to grant agencies, potential partnerships, and more, amplifying our efforts.
While we contributed our know-how and contacts, EF provided the infrastructure and resources that enabled us to build a robust business. It’s a true collaboration that has been pivotal to our progress.
Q: How much funding did you receive from EF, and did they take equity in return?
A: Ah, the golden question! EF coughed up around 50K USD for our venture as a pre-seed investment. Pretty solid, right? And yeah, they didn’t just toss the money and say, “See you later!” They stayed on as a key player, setting us up with investor meetings for three months straight to help us get those follow-up rounds in.
In terms of equity, EF takes a 10% slice. It’s their skin in the game, and we knew that from the get-go. If you’re familiar with Y Combinator, it’s a similar deal there. So, it’s 10% equity for the 50K investment, and I’ve heard they’ve upped it to 100K USD these days. They’re in it with you, both feet in, making sure you’ve got the resources to shoot for the stars.
The Real Benefits of the Program
Q: Can you share a significant milestone that you achieved during the program?
A: The big win for us was getting our Proof of Concept (POC) off the ground and into the labs. We’re in the diagnostic tech space, right? So it’s not like you can just whip up a prototype on your laptop. We needed the wet lab, the real-deal testing conditions. Thanks to our connection with our alma mater, we got to do just that—clinical validation and all.
And it didn’t stop there. The EF program gave us a sort of fast pass to advisors and investors who gave us the 411 on the fundraising circus. A sort of Fundraising 101, if you will. So not just scientific milestones but some serious networking uplifts as well. Big moves, all the way around.
D-Nome’s Post-Accelerator Journey
Q: How has your startup’s growth trajectory changed since completing the program?
A: The momentum from our time at EF propelled us into the next phase like rocket fuel. Initially, we were newcomers to the startup scene. EF guided us through the essentials—everything from legalities to compliance.
Once we graduated from EF, the training wheels were officially off. We sharpened our fundraising skills and secured an $1.5 million in seed investment. That’s got us some serious momentum for sure.
What’s more, we’re not just a duo in a makeshift lab anymore. Our team has expanded to seven members and we’ve upgraded to a state-of-the-art lab. Our MVP is now on the market, and we’ve joined forces with some eager early adopters.
Q: Are you focusing solely on India or exploring other markets as well?
A: India is our starting point, our home turf. But our vision transcends national borders. We’re setting our sights on the U.S., exploring opportunities in Africa, and even making strides in Europe. What’s great about our technology is its versatility. It is a platform technology based on synthetic biology for nucleic acid detection that can be moulded for multiple applications and market adjacencies. From clinical diseases to genomics and livestock screening, our tech has many applications. One of the First applications we are laser-focused on is creating point-for-care diagnostics, a PCR/RT-PCR that can be done in a device that fits into your pocket and can be done in ambient temperatures.
Our goal is bigger than just geographic expansion. We’re on a mission to spread our innovation worldwide. Every product we develop is like a global citizen, ready to find its niche in markets eager for our offer.
Q: What milestones are on your horizon and how has EF been instrumental in that?
A: Our roadmap is filled with ambitious targets. We’re zooming past pilot projects and ensuring we know each market’s rules like the back of our hand. That includes managing the complexities of regulations from the USF to local authorities.
As for EF, they’re the ultimate connector. If you need an intro to a key player in a big company, then they set that up like a pro. It’s all about extending your reach; with EF, you’re never going at it alone.
What’s more, the mentorship from EF doesn’t just stop when the program ends. I still have quick access to my entrepreneur-in-residence and other advisors for those curveball situations or brainstorming sessions. EF is this ongoing, ever-useful resource of people and advice that keeps giving.
Final Thoughts
Q: Do you have any final tips you want to share with people thinking about joining EF?
A: If you’re on the fence about diving into the startup world, particularly if you’re coming from a different industry, EF is your ultimate accelerator course. It’s the fast track to the entrepreneur world.
Not sure with which idea to proceed? EF helps you sift through the noise and pinpoints what’s got real potential. They cut through the fluff and let you know if you’re onto something or need to go back to the drawing board.
Finding your startup co-founder? That’s another win from EF. Entrepreneurship can be a solo trek, but it doesn’t have to be. It’s not just about dividing the workload; it’s about finding someone who’s there for both the wins and the setbacks.
EF is your launchpad. If you want to jumpstart your journey, find a like-minded co-founder, and understand the startup arena, EF is your answer.