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Reshma Shetty

06/01/16

@ Y Combinator

The plant on this desk is the most complicated piece of technology, capable of self-replicating, self-repairing, and self-assembling with nanometer precision, showcasing the inherent capabilities of biology.

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Reshma Shetty

06/01/16

@ Y Combinator

I believe biology is the most powerful manufacturing platform on the planet, and I want to use it to build innovative solutions.

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Reshma Shetty

06/01/16

@ Y Combinator

The next century will be about learning how to design biology and program DNA, leading to a new generation of designers focused on biological systems.

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Reshma Shetty

06/01/16

@ Y Combinator

At Ginkgo Bioworks, we design microbes and organisms to specifications, and we were founded in 2008 with around 75 employees.

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Reshma Shetty

06/01/16

@ Y Combinator

I grew up in Utah, studied computer science at the University of Utah, and worked in a biology lab, which allowed me to merge my interests in engineering and biology.

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Reshma Shetty

06/01/16

@ Y Combinator

While at MIT, I met Tom Knight, who brought an engineer's perspective to biology, emphasizing the importance of simplifying and designing biological systems.

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Reshma Shetty

06/01/16

@ Y Combinator

We realized that the most important step in starting a company is defining your mission, which serves as a compass for your direction, rather than just focusing on technology or funding.

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Reshma Shetty

06/01/16

@ Y Combinator

After much brainstorming, we decided that Ginkgo's mission would be to make biology easier to engineer, which defines us as a company beyond just our business model or products. The only reason to start a company is if there's a problem you're passionate about solving and you have a mission to accomplish.

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Reshma Shetty

06/01/16

@ Y Combinator

During our first year, we operated virtually and squatted at MIT while trying to generate enough funds to pay ourselves a stipend.

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Reshma Shetty

06/01/16

@ Y Combinator

In 2008, during the financial crisis, many biotech companies were going out of business, which made it a challenging time to raise money.

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Reshma Shetty

06/01/16

@ Y Combinator

We didn't even attempt to talk to investors because we had no product or clear idea of what our product should be.

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Reshma Shetty

06/01/16

@ Y Combinator

We dumpster dove for equipment from defunct biotech companies, acquiring everything we needed for our lab at a fraction of the cost.

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Reshma Shetty

06/01/16

@ Y Combinator

We built our first biology lab for about $150,000 using secondhand equipment, which was significantly less than the conventional estimate of a few million dollars.

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Reshma Shetty

06/01/16

@ Y Combinator

For the next few years, we focused on finding product-market fit by using the scientific method to test our business hypotheses.

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Reshma Shetty

06/01/16

@ Y Combinator

We followed the steps in Steve Blank's book to figure out a repeatable business model, which took us about five years.

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Reshma Shetty

06/01/16

@ Y Combinator

We discovered a market for cultured ingredients, which are normally produced from plants, and found we could brew them from yeast instead.

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Reshma Shetty

06/01/16

@ Y Combinator

Our business model involved replacing plant extracts, which have long growing cycles and supply chain issues, with a 5-day fermentation process using yeast.

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Reshma Shetty

06/01/16

@ Y Combinator

We raised money for the first time after five years of existence, once we had a clear picture of our market and customer traction.

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Reshma Shetty

06/01/16

@ Y Combinator

As a female founder, I recognize the importance of diversity in technology companies, especially given the low representation of women in the field.

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Reshma Shetty

06/01/16

@ Y Combinator

After raising our Series B, we saw a drop in female representation in job offers, which made me feel ashamed and prompted internal discussions about diversity initiatives.

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Reshma Shetty

06/01/16

@ Y Combinator

I believe that creating a diverse workforce will strengthen our company, but we also need to focus on making Ginkgo a sustainable business.

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Reshma Shetty

06/01/16

@ Y Combinator

I draw inspiration from the movie 'Moneyball' to think about diversity, as it highlights the value of finding undervalued talent in the marketplace.

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Reshma Shetty

06/01/16

@ Y Combinator

By addressing diversity early in our growth, we hope to create a competitive edge and improve our representation significantly with just a few hires.

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Reshma Shetty

06/01/16

@ Y Combinator

Since starting the conversation about diversity, our hiring numbers have improved slightly, but it's still uncertain if this trend will continue.

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Reshma Shetty

06/01/16

@ Y Combinator

I encourage everyone to think about diversity as they start their own companies, as it can have a significant impact on the workplace culture.

Reshma Shetty Speaks at Y Combinator's Female Founders Conference 2016

Takeaways