## Mindgrove Technologies Secures Funding

Mindgrove Technologies, an **India-based IC design house**, has successfully secured **US$8 million** in funding. This significant investment positions the startup to **commercialize its RISC-V products** in alignment with the Indian government's **design-in-India initiative**. 

The funding will play a crucial role in helping Mindgrove launch its **first microcontroller unit (MCU) by 2025**. This development is expected to contribute to the growing landscape of semiconductor design in India, particularly focusing on the **RISC-V architecture**, which is gaining traction for its open standard and flexibility in design.

Stay tuned as Mindgrove aims to make a mark in the **semiconductor industry** and push forward the **Make in India** initiative.

Mindgrove Technologies, an India-based IC design house, has secured US$8 million in funding, positioning the startup to commercialize its RISC-V products amid the Indian government's design-in-India initiative.

Mindgrove Technologies Raises $8 Million to Revolutionize RISC-V Microcontrollers in India

In this special edition of **Straight Talk Africa**, we delve into the **dynamic world of tech startups in Africa** and their innovative use of **Artificial Intelligence (AI)**. Join us as we explore:

### The Role of Tech Giants
**Tech giants like Google and Microsoft** are stepping up to support African startups in their AI journey. Their contributions are vital in fostering an environment ripe for innovation and growth.

### Founders' Perspectives
Founders from various startups share their insights on the **ethical and strategic applications of AI**. They emphasize the importance of using AI responsibly to drive **sustainable development** and address local challenges.

![AI in Africa](https://gdb.voanews.com/3c4ab149-c5cd-4b8e-a4d7-d4440290fa33_w250_r1.png)

### Key Discussions
- The significance of **ethical AI use** in enhancing business operations.
- Strategies for leveraging AI to improve **efficiency and reach** in the African market.
- How startups are navigating the unique challenges of implementing AI solutions.

This edition not only highlights the **potential of AI** in transforming businesses but also sheds light on the **commitment of tech leaders** to foster a supportive ecosystem for startups across the continent.

In this special edition of Straight Talk Africa we’ll examine how tech startups are using "Artificial Intelligence.” Tech giants, such as Google and Microsoft, weigh in on how they support startups using AI. And founders discuss the importance of ethical and strategic uses of artificial intelligence.


Unleashing Innovation: How African Tech Startups are Harnessing AI

### Understanding Startup Salaries

Once a startup successfully raises its **seed round**, the critical question arises: **How much should founders pay themselves and their initial team?** Recent analysis by [Kruze Consulting](https://kruzeconsulting.com), a CPA firm focusing on venture-backed startups, sheds light on salary ranges for over **450 seed-stage startups**.

### Key Salary Insights

According to Kruze, the following are the average salaries for founder executives:
- **CEO:** $132,000
- **CTO:** $134,000
- **COO/Operations:** $135,000
- **Product/CPO:** $149,000

Interestingly, **technical engineering and product roles** generally command higher salaries than the CEO. Notably, the COO position can sometimes indicate a third co-founder role, which may raise eyebrows among seed VCs regarding budget management.

### Competitive Salaries for Engineers

In the competitive landscape of the Bay Area, senior engineers can earn between **$180,000 to $235,000**, while entry-level engineers average **$75,000 to $105,000**. Founders typically increase their salaries as funding rounds progress, averaging **$183,000 after Series A** and **$218,000 by Series B**.

### Starting Salaries for Initial Hires

For initial hires, the starting salaries vary significantly:
- **Engineering (Midlevel):** $100,000 to $145,000 (Bay Area); $90,000 to $130,000 (Other tech hubs)
- **Sales (Midlevel):** $80,000 to $110,000 (Bay Area); $70,000 to $100,000 (Other)
- **Product Titles:** $130,000 to $185,000 (Bay Area); $110,000 to $175,000 (Other)
- **Marketing (Midlevel):** $100,000 to $175,000 (Bay Area); $80,000 to $145,000 (Other)

### Equity Compensation

In addition to salaries, employees often receive equity, which is a major draw for joining startups. According to data from **Carta**, the expected equity for the first five hires is:
- **First hire:** 0.5% to 4% equity (median 1.49%)
- **Second:** 0.3% to 2% equity (median 0.85%)
- **Third:** 0.21% to 1.2% equity (median 0.50%)
- **Fourth:** 0.18% to 1% equity (median 0.44%)
- **Fifth:** 0.13% to 0.8% equity (median 0.34%)

This data provides valuable insights into how startups navigate **salary structures** and employee compensation as they scale. 

*This story originally published December 2, 2024.*

Once a startup has raised its seed round, the perennial question becomes how much should the founders pay themselves and their first few employees? Kruze

Unlocking Startup Salaries: How Much Do Seed-Stage Founders Really Pay Their Early Employees?

![Thomas Burrus](https://www.citybiz.co/wp-content/uploads/2024/12/Thomas-Burrus.jpg)

**Waypoint Bio**, a pioneering spatial biology startup, is making waves by relocating to the **Alexandria Center for Life Science** in New York City. The company has signed a lease for **3,413 square feet** of lab and office space at **430 East 29th St.**, previously operating from the Biolabs Incubator.

Founded in 2021, Waypoint Bio aims to leverage **AI, pooled screening**, and **spatial biology** to enhance drug discovery processes. The co-founders, **Xinchen Wang** and **David Phizicky**, both MIT alumni, have raised **$14.5 million** in seed funding to develop **CAR-T cell therapies** targeting cancer and autoimmune diseases. Wang expressed excitement about their new location, stating, "The Alexandria Center for Life Science is a one-of-a-kind home to world-class pharmaceutical and biotechnology companies."

The Alexandria Center is recognized for fostering innovation within New York City's life science ecosystem, providing a collaborative environment and proximity to leading academic medical institutions. **Thomas Burrus**, JLL Associate Vice President, represented Waypoint Bio in this strategic move, highlighting the growing demand for specialized lab spaces in the area.

### About Waypoint Bio
Waypoint Bio is at the forefront of biotechnology, focusing on **novel cell therapies** for solid tumors through its proprietary **spatial pooled screening technology**. The company has quickly established itself within the biotech community, assembling a team of experts and securing significant funding to propel its mission.

### About JLL
JLL is a global leader in commercial real estate, helping clients navigate their property needs for over **200 years**. With a strong presence in New York's commercial real estate market, JLL continues to support innovative companies like Waypoint Bio in their growth and development.

Pioneering spatial biology startup Waypoint Bio will relocate to the Alexandria Center for Life Science  JLL announced today it has... Read More

Breaking Ground: Waypoint Bio Moves to New York's Premier Lab Space for Innovative Drug Discovery

## Ecolectro's Groundbreaking Approach to Hydrogen Production

A new **startup**, **Ecolectro**, is pioneering a method to **localize hydrogen production** using **shipping container-based electrolyzers**. This initiative aims to accelerate the adoption of hydrogen as a **greener fuel alternative**.

### Addressing Infrastructure Challenges

Unlike **natural gas**, which benefits from extensive pipeline infrastructure, hydrogen lacks similar support. According to **Gabriel Rodriguez-Calero**, Ecolectro’s representative, the company's onsite production solution helps to **mitigate risks** associated with transportation and storage logistics.

### Costly Production Methods

Current hydrogen production methods can be **expensive** due to costly materials used in some electrolyzers and **inefficient outdated technologies**. Ecolectro's method combines two popular approaches: **proton-exchange membrane** and **alkaline electrolysis**. While the former is more expensive, the latter is less efficient.

### Innovative Technology

Ecolectro has developed a membrane capable of withstanding the harsh conditions of alkaline electrolysis, effectively eliminating **PFAS** (toxic forever chemicals) while replacing **iridium and platinum** with more affordable **nickel**. Rodriguez-Calero noted, "You can use **1,000 times the nickel** per amount of iridium without changing the cost."

### Impact on Clean Energy and Job Creation

This new technology comes at a time when the **Department of Energy** is exploring the potential benefits of clean hydrogen. The expanded use of hydrogen could lead to a **10% reduction** in economy-wide emissions by **2050** and create over **100,000 new jobs** by **2030**.

### Current Developments

Ecolectro has successfully built a **10-kilowatt electrolyzer**, producing **5 kilograms of hydrogen daily**, currently being tested by **Liberty Utilities** in Upstate New York. The startup is also developing a **250-kilowatt commercial-scale version**, expected to produce **125 kilograms of green hydrogen daily**, slated for operation by the **first quarter of 2025**.

"While the first option is said to be pricier, the second one is less efficient."

Innovative Startup Ecolectro is Set to Revolutionize Hydrogen Production Using Shipping Containers

Israel is renowned for its vibrant **startup ecosystem**, boasting more **startups and unicorns** per capita than any other nation. However, much of this innovation is concentrated in areas like **Tel Aviv** and **Haifa**, leaving **East Jerusalem** with minimal startup activity among its **predominantly Arab** population of 400,000.

**Mahmoud Khweis**, a notable entrepreneur and former negotiator, aims to change this narrative. In **October 2021**, he established **Techlinic**, the first Palestinian-owned tech firm in East Jerusalem, providing **software development training** to local residents.

![Jinnovate portfolio startups exhibiting in the medical conference International eHealth Forum in Casablanca, Morocco. Photo courtesy of Jinnovate](https://static.israel21c.org/www/uploads/2024/12/Jinnovate_pic_6-768x576.jpeg)

### A Helping Hand
Startups require more than just a great idea to thrive; they need **office space, mentorship, business skills**, and access to **funding**. Khweis highlights the lack of an **innovation ecosystem** in East Jerusalem, stating that there are currently no incubators or sufficient support from local governments.

At **Jinnovate**, the **Jerusalem Innovation Health-Tech Center**, Khweis provides vital resources, mentorship, and training for those with innovative ideas in the health sector, particularly addressing **unmet health needs**. The center has garnered almost **$2.7 million** in funding from the **Israel Innovation Authority**, alongside contributions from **USAID** and the **Jerusalem municipality**.

![Participants in Jinnovate’s Healthtech Leadership Program meet at the ARC Innovation Center of Sheba Medical Center. Photo courtesy of Jinnovate](https://static.israel21c.org/www/uploads/2024/12/Jinnovate_-_Pic_5-768x454.jpg)

### The First Jinnovate Startups
Among the startups nurtured by Jinnovate is **Healers**, which is innovating a new cutting device for thoracic surgeries, greatly reducing infection risks. **Line of Sight** is leveraging AI to improve surgical outcomes during jaw corrections, while **Mirror Digital** focuses on integrating patient records across different management systems. Khweis aims for the first Arab startup **exit** in five years, a notable milestone for the region.

### Innovation in Hospitals
Jinnovate is also initiating a cultural shift in local hospitals, encouraging innovation. Collaborations with leading medical centers like **Sheba** and **Shaare Zedek** are paving the way for the establishment of an **innovation center** within East Jerusalem hospitals, which have historically lacked resources for advanced patient care.

![Mahmoud Khweis, founder of Techlinic and Jinnovate. Photo courtesy of Mahmoud Khweis](https://static.israel21c.org/www/uploads/2024/12/jinnovate_Mahmoud_Khweis-768x732.jpg)

Despite the ongoing challenges, Khweis remains optimistic about fostering a **sustainable startup ecosystem** in East Jerusalem. He believes that with the right support and collaboration, the area can become a hub of **innovation** and **entrepreneurship**.

Meet the local entrepreneur fostering an innovation culture to the predominantly Arab East Jerusalem, in cooperation with major hospitals.

Transforming East Jerusalem: Meet the Entrepreneur Behind Jinnovate's Health-Tech Revolution

### Introduction
At the forefront of the UAE's food security initiatives, **Beyond Farming** is pioneering a sustainable solution for urban agriculture. Launched in November 2024, this innovative startup is leveraging advanced agricultural technologies to tackle food security challenges head-on.

### The Vision Behind Beyond Farming
Founded by **Chris Bolton**, along with **Pedro Silva**, **Ricardo Ferrer**, and **Shawn Kelly**, Beyond Farming aims to provide cities with **reliable access to fresh, sustainably grown local produce**. The startup focuses on **urban indoor vertical farming**, utilizing advanced techniques like **fogponics** to enhance sustainability and profitability.

### Unique Farming Solutions
Beyond Farming offers a **Farm-as-a-Solution (FaaS)** model with two options:
- **We Own**: The company manages the farm operations, generating revenue through sales, leasing, and managed services.
- **You Own**: Clients purchase or lease farming systems and operate them independently, providing the company with a steady revenue stream from equipment sales and ongoing support.

### Rapid Growth and Global Reach
Despite launching only a month ago, Beyond Farming has already demonstrated its capability to produce over **35 different crops** globally. With offices established in **Australia, Canada, Panama, and the USA**, the company is poised for substantial growth driven by increasing global demand for sustainable agriculture.

### Innovative Technology
The startup's **water-neutral fogponics technology** allows for efficient crop production in various urban environments. Their **AI-controlled systems** optimize growth cycles, reduce power consumption, and enhance crop quality, making them ideal for cities looking to boost local food production.

### Community Engagement
Beyond Farming is committed to maintaining a balance between technological advancement and community engagement. They offer **educational programs and workshops** to empower local communities and ensure that users benefit from their innovative solutions. Personalized customer support is also a priority, ensuring clients receive the guidance they need.

### Conclusion
As the UAE strives towards its food security targets, Beyond Farming is set to play a pivotal role in transforming urban agriculture. With their focus on innovation and community, they are not just growing crops; they are cultivating a sustainable future.

"We are driven by the urgent need to provide cities with reliable access to fresh, sustainably grown local produce."

Revolutionizing Food Security: How Beyond Farming is Transforming Urban Agriculture in the UAE

### GEMMA Biotherapeutics Raises $34 Million

**GEMMA Biotherapeutics**, founded by gene therapy pioneer **Jim Wilson**, has successfully raised **$34 million** in its inaugural venture financing. This funding will be directed towards developing **new gene therapies** for **rare diseases**. 

![Jim Wilson](https://s7d1.scene7.com/is/image/CENODS/20241224lnp3-wilson?$responsive$&wid=300&qlt=90,0&resMode=sharp2)
*Credit: Matthew Bender/FILE*

The funding round was co-led by prominent investment firms **Double Point Ventures**, **Bioluminescence Ventures**, and **Earlybird Venture Capital**. While GEMMA Biotherapeutics has not disclosed specific conditions or timelines for its therapies, the company is actively seeking **strategic partners** for its gene therapy programs.

### Jim Wilson's Background

Jim Wilson has a rich history in the gene therapy field, having co-founded several companies such as **Passage Bio** and **iECURE**. This year, he announced the launch of **GEMMA Biotherapeutics** and the accompanying **Franklin Biolabs** after leaving his position at the **University of Pennsylvania**, where he led the Gene Therapy Program for over 20 years.

### Strategic Collaborations

Currently, GEMMA Biotherapeutics has one collaboration agreement with the **Oswaldo Cruz Foundation** in Brazil, which includes a **$100 million** commitment for clinical research and manufacturing across six programs. Some of the targeted conditions include **GM1 gangliosidosis**, **Krabbe disease**, and **metachromatic leukodystrophy**.

For more updates on GEMMA Biotherapeutics and its groundbreaking work in gene therapy, stay tuned!

GEMMA Biotherapeutics will put the money toward rare disease drugs

Mindgrove Technologies Raises $8 Million to Revolutionize RISC-V Microcontrollers in India

Summary:

Mindgrove Technologies Secures Funding

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Other Latest News

Unleashing Innovation: How African Tech Startups are Harnessing AI

Unlocking Startup Salaries: How Much Do Seed-Stage Founders Really Pay Their Early Employees?

Breaking Ground: Waypoint Bio Moves to New York's Premier Lab Space for Innovative Drug Discovery

Innovative Startup Ecolectro is Set to Revolutionize Hydrogen Production Using Shipping Containers

Transforming East Jerusalem: Meet the Entrepreneur Behind Jinnovate's Health-Tech Revolution

Revolutionizing Food Security: How Beyond Farming is Transforming Urban Agriculture in the UAE

GEMMA Biotherapeutics Secures $34 Million for Revolutionary Rare Disease Gene Therapies

Other Latest News

Unleashing Innovation: How African Tech Startups are Harnessing AI

Unlocking Startup Salaries: How Much Do Seed-Stage Founders Really Pay Their Early Employees?

Breaking Ground: Waypoint Bio Moves to New York's Premier Lab Space for Innovative Drug Discovery

Innovative Startup Ecolectro is Set to Revolutionize Hydrogen Production Using Shipping Containers

Transforming East Jerusalem: Meet the Entrepreneur Behind Jinnovate's Health-Tech Revolution

Revolutionizing Food Security: How Beyond Farming is Transforming Urban Agriculture in the UAE

GEMMA Biotherapeutics Secures $34 Million for Revolutionary Rare Disease Gene Therapies