Entrepreneurship
Smarter Protein Evolution —
Powered by AI, Built for Real Biology
Overview
Protovate is an early-stage biotechnology startup from National Tsing Hua University (NTHU), developing an AI-driven protein evolution platform. The technology integrates active deep learning models with an E. coli-based EcORep mutagenesis system and Split Luciferase Complementation Assay (SLCA) to accelerate protein optimization under tumor-like conditions. Protovate operates on a B2B licensing model, providing biotech companies with faster, more reliable, and modular solutions for protein drug discovery. We aim to redefine how biology learns — not by chance, but by intelligence. Protovate turns every failed experiment into data that learns.
Mission

Design Thinking
Before launching our startup, our team gathered to complete a Design Thinking process that shaped the foundation of our initial framework. Through this structured, user-centered approach, we aligned our scientific vision with real industry needs and defined a clear roadmap for innovation and implementation.
Design Thinking
Innovation Process
Empathize
Understanding the challenges of biotech firms in time, cost, and success rate. We identified the pain points in traditional protein discovery methods.
Define
Identifying bottlenecks in protein discovery pipelines. We defined the core problem: inefficient and expensive protein optimization processes.
Ideate
Proposing AI + directed evolution integration. We conceptualized a novel approach combining machine learning with experimental validation.
Prototype
Developing an MVP using EcORep and SLCA. We built a working prototype that demonstrates the feasibility of our approach.
Test
Validating protein binding in acidic tumor conditions. We tested our system under realistic biological conditions to ensure effectiveness.
Implement
Establishing pilot licensing with biotech partners. We're now implementing our solution through strategic partnerships and commercialization.
Value Proposition Canvas
After confirming our overall framework through design thinking, we proceeded to define the business value of our innovation. To achieve this, our team collaboratively developed a Value Proposition Canvas to clearly map the needs of our target customers and align Protovate's solutions with their most critical pain points and desired gains.


Market Analysis
Market Size
Global AI drug discovery market projected to grow from USD 1.2B (2023) to USD 9B (2030), with CAGR >30%.

Figure 1. Market Size (TAM/SAM/SOM)
The diagram shows Protovate's market opportunity: a global TAM of $8.18B in functional proteins, a SAM of $3.00B in AI drug discovery, and a SOM of $11.32M in Taiwan's AI healthcare.
Total Addressable Market (TAM)
The Total Addressable Market (TAM) for Protovate's AI-driven protein optimization platform is estimated at USD 8.18 billion, representing the global functional protein market. This includes therapeutic proteins, industrial enzymes, and engineered biomolecules used across pharmaceuticals, biotechnology, and diagnostics.
The functional protein market has shown a Compound Annual Growth Rate (CAGR) of 9.2%, driven by the increasing adoption of protein-based therapeutics and demand for efficient, high-throughput protein engineering tools. By 2032, this market is projected to exceed USD 15 billion, fueled by the integration of AI into drug design, sustainability-driven biomanufacturing, and the rise of precision medicine.
Serviceable Available Market (SAM)
Protovate's Serviceable Available Market (SAM)—the subset of the TAM addressable by AI-enabled discovery pipelines—is valued at approximately USD 3.00 billion.
This corresponds to the global AI in drug discovery market, which is expected to grow at a CAGR of 30.5% from 2024 to 2032. The market expansion is driven by the pharmaceutical industry's shift toward automation, data-driven molecular design, and predictive modeling for protein structure and function.
Major pharmaceutical and biotech firms are increasingly integrating AI-based directed evolution platforms to shorten R&D timelines by 60–70%, highlighting Protovate's potential to capture a significant portion of this rapidly accelerating segment.
Serviceable Obtainable Market (SOM)
Protovate's Serviceable Obtainable Market (SOM) focuses on Taiwan's AI healthcare sector, valued at USD 11.32 million.
Taiwan's biopharma industry is investing heavily in AI-assisted precision medicine and protein-based therapeutics, with over 100 biotech companies and research institutes forming an interconnected innovation ecosystem. With mentorship from NTHU Garage+, collaborations with NHRI (National Health Research Institutes) and Academia Sinica, Protovate is strategically positioned to capture early adopters within this domestic market before expanding regionally across Asia.
Our initial focus is to engage Taiwan's leading biotech firms through pilot licensing agreements and AI co-development partnerships—creating a scalable foundation to penetrate the broader Asian AI drug discovery market projected to reach USD 800 million by 2030.
Customer and Industry Input
Public Interest
Protovate addresses a global health challenge: cancer remains the second leading cause of death worldwide, claiming nearly ten million lives annually. There is strong public interest in innovative therapeutic solutions that can accelerate the development of more effective treatments while lowering costs and improving accessibility. By providing a platform that enables faster and more reliable protein drug discovery, Protovate resonates with the broader demand for affordable, timely, and patient-centered healthcare solutions. Public interest also extends to the scientific community, where the integration of AI and biology is increasingly viewed as a transformative approach for next-generation medicine.

Figure 2. Our team build connection with S.Y. Dao Cancer Prevention Foundation.
Industry Interest
The biotech and pharmaceutical industries face rising R&D costs and long development timelines, with the average drug taking over a decade and billions of dollars to reach market approval. Industry stakeholders are seeking platforms that can reduce risk, increase efficiency, and deliver clinically relevant candidates more quickly. Protovate offers a unique value proposition by combining AI active deep learning with directed evolution and tumor-environment functional validation. This positions the platform as a data-efficient, licensing-ready solution that can be directly integrated into existing drug discovery pipelines. As a result, industry interest comes not only from biotech startups looking for acceleration tools but also from larger pharmaceutical companies aiming to de-risk oncology pipelines and diversify their therapeutic portfolios.

Figure 3. Our team build connection with NTHU garage.
Barriers to Entry
Minimum Viable Product (MVP)
Current Solutions: Traditional Protein Drug Discovery Pipeline
The development of protein-based therapeutics traditionally follows a multi-stage pipeline encompassing target selection, protein design, laboratory screening, optimization, and validation.
- Target Selection – Researchers begin by identifying disease-related molecular targets (such as enzymes, receptors, or signaling proteins). This process heavily depends on prior biological knowledge and experimental screening, often requiring months of in vitro and in vivo studies to ensure relevance and specificity.
- Protein Design (Mutagenesis / Rational Design) – Candidate proteins are engineered using site-directed mutagenesis or rational design based on structural data. These methods rely on manual iteration and prior domain expertise, making them labor-intensive and limited by human hypothesis bias.
- Lab Screening (High-Throughput Screening, HTS) – Thousands of designed variants undergo HTS to evaluate binding affinity, solubility, and stability. However, the screening process is time-consuming and costly, requiring robotic automation and large reagent volumes.
- Optimization (Cycles of Redesign) – Promising hits are refined through multiple redesign and testing cycles to improve their biochemical and pharmacokinetic profiles. This stage can take several months to years, leading to extended development timelines and high R&D costs.
- Validation – Final candidates undergo validation assays and preclinical testing. Despite extensive effort, many fail due to poor folding, low activity, or unfavorable immunogenicity, resulting in a low overall success rate (<10%) from discovery to preclinical transition.
In summary, the traditional protein design workflow is fragmented, slow, and resource-intensive—characterized by high costs, lengthy iteration cycles, and low predictability. This inefficiency underscores the urgent need for a next-generation platform that integrates AI-driven learning with automated experimental evolution, enabling faster and more cost-effective protein therapeutic discovery—precisely the problem Protovate aims to solve.

Our MVP is a cloud-based protein optimization service that turns a researcher's prototype into an improved sequence or structure within one working day. The product delivers three concrete outcomes on every run:
(1) an optimized protein candidate list with ranked rationales
(2) downloadable structural models and sequences ready for cloning
(3) a reproducible report documenting inputs, constraints, simulation metrics, and the AI's decision path
User Flow
A scientist signs in and uploads a starting sequence or structure. In the same screen, they can add optional conditioning—target organism, secretion tag preferences, pH/temperature window, size limits, or interface residues to preserve. They define optimization goals by toggling ready-made templates (stability, binding, solubility, expression) or by entering a custom objective assembled from simple sliders (e.g., "raise ΔTm by 4–6 °C while keeping catalytic residues fixed"). After clicking Process, the platform performs three automated stages: (i) Structure proposal with RF-Diffusion + MPNN (<1 h) to produce diverse, constraint-aware backbones and initial sequences; (ii) Physics-aware screening via fast simulations (2–20 h depending on task) to score designs for stability, interface energy, aggregation, and basic manufacturability; and (iii) Active fine-tuning (~1.5 h) where a lightweight model adapts on-the-fly to the user's objective and the observed simulation feedback, improving the next batch of candidates.
Core Value
The MVP's edge is a pretrained, customizable AI that fuses generative modeling with practical constraints. Out of the box it provides (a) functional analysis heuristics—motif checks, pocket quality, surface charge balance; (b) sequence generation guided by structure and editable residue locks; and (c) rapid fine-tuning that respects prior data while steering exploration away from mode collapse. This produces candidates that are not only high-scoring but also realistic to build and test.
Deliverables and Metrics
Each job returns: top-N sequences/structures (FASTA and PDB), a one-page executive summary, and a detailed PDF with plots and tables. Default metrics include predicted ΔG/stability, interface ΔΔG (for binders), solubility/aggregation indices, disulfide and glycosylation alerts, and sequence diversity statistics. Users can sort by best score, Pareto-front trade-offs, or novelty vs. risk. A "Why this design?" panel cites the residues and features most responsible for the predicted gains.
Data and Safety
The MVP runs in a secure, project-scoped workspace. Uploaded sequences are encrypted at rest; models are containerized and audited. We log only non-identifying usage statistics unless the team opts in to share wet-lab outcomes for model improvement. All generated content is versioned; users can reproduce any run with a single click.
Scope and Limits
The MVP prioritizes speed and clarity over encyclopedic modeling. We provide accurate ranking under well-defined conditions (e.g., pH, temperature, ionic strength) but do not claim full molecular dynamics replacement. Experimental validation remains with the user; however, the report includes cloning-ready sequences and constraints to accelerate bench work. Advanced options—multi-epitope design, de novo binder discovery against novel antigens, and multi-state objectives—are on the near-term roadmap.
Who It Serves
Academic and startup teams that lack large in-house compute or ML expertise, but need iterative protein improvement with transparent reasoning. Typical use cases include stabilizing enzymes for process conditions, improving binder affinity while preserving specificity, or redesigning constructs for expression and solubility.
Success Criteria
We judge MVP success by (1) time-to-candidate (<24 h for standard jobs), (2) user-rated interpretability of the report, (3) sequence diversity at fixed quality thresholds, and (4) early wet-lab hit rate from pilot partners. With this MVP, SEED & SEEK compresses months of trial-and-error into an actionable, auditable design loop that scientists can trust and iterate on immediately.
Feasibility Analysis
To demonstrate the feasibility of our venture, we conducted a systematic evaluation encompassing the macro-environmental landscape, organizational capabilities, and competitive market dynamics. This multi-dimensional assessment substantiates that Protovate's innovation is not only technologically implementable but also commercially sustainable within the rapidly evolving global biotechnology sector.
PEST Analysis:
Macro-Environment Assessment
Political
Government policies, regulations, and political stability that affect business operations
Economic
Economic growth, inflation, exchange rates, and market conditions impacting business
Social
Demographics, cultural trends, and social attitudes that influence consumer behavior
Technological
Innovation, automation, and technological developments that create opportunities or threats
SWOT Analysis:
Internal–External Strategic Assessment
SWOT Analysis
Analysis - PROTOVATE
Strengths
Internal advantages and capabilities that give competitive edge
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Strengths
- Unique integration of AI active deep learning with directed evolution (EcORep + SLCA) in a closed-loop system.
- Ability to generate functional data under tumor-like conditions, increasing clinical relevance.
- Data-efficient discovery, enabling candidate development even with limited datasets.
- Modular SpyCatcher/SpyTag system, allowing flexible adaptation and scalability.
Weaknesses
Internal limitations and areas needing improvement
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Weaknesses
- Early-stage company with limited dataset size and proof-of-concept still under development.
- Strong reliance on external funding for scaling experiments and computational resources.
- Need for broader industry validation and regulatory guidance before large-scale adoption.
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External factors that can be leveraged for growth
Opportunities
Opportunities
- Global AI drug discovery market growing at >30% CAGR, projected to reach billions by 2030.
- Rising demand for oncology therapeutics with higher efficiency and success rates.
- Potential for strategic licensing partnerships with biotech and pharma companies.
- Expansion into other therapeutic areas beyond oncology.
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External challenges that could impact success
Threats
Threats
- Larger incumbents like Absci, Generate Biomedicines, Insilico with greater financial and data resources.
- Regulatory hurdles that could slow down clinical translation and adoption.
- IP competition in fast-moving synthetic biology and AI biotech fields.
- Potential skepticism from industry toward new AI-biotech platforms until more validation data is available.
Competitive Analysis
Protovate operates in the rapidly growing field of AI-driven drug discovery, where several global players have gained traction. Absci has advanced antibody discovery using generative AI, but its scope is largely confined to antibody therapeutics. Insilico Medicine has developed platforms for small molecule design and clinical trial prediction, yet it lacks focus on protein therapeutics. Generate Biomedicines builds large-scale generative models for protein design, though their effectiveness depends heavily on vast amounts of training data and lacks integration with directed evolution. Graphen Inc. provides AI-driven biotech consulting but remains broad and service-oriented without specialization in protein drug development.
In contrast, Protovate is uniquely positioned to operate effectively under data-limited conditions. By combining reinforcement learning with E. coli-based EcORep mutagenesis and functional screening through SLCA, Protovate generates new functional protein datasets in real time. This allows the platform to bootstrap therapeutic discovery even with minimal prior data, reducing dependency on massive datasets while ensuring clinically relevant optimization under tumor-like conditions. Coupled with its modular SpyCatcher/SpyTag system, Protovate not only differentiates itself from data-heavy competitors but also establishes a sustainable, licensing-ready pathway for oncology-focused protein drug development.

Table 1. Competitor Landscape
This chart compares major AI biotech competitors and highlights how Protovate differentiates through broader applicability, modular flexibility, and directed evolution integration.
Protovate operates in the rapidly growing field of AI-driven drug discovery, where several global players have gained traction. Absci has advanced antibody discovery using generative AI, but its scope is largely confined to antibody therapeutics. Insilico Medicine has developed platforms for small molecule design and clinical trial prediction, yet it lacks focus on protein therapeutics. Generate Biomedicines builds large-scale generative models for protein design, though their effectiveness depends heavily on vast amounts of training data and lacks integration with directed evolution. Graphen Inc. provides AI-driven biotech consulting but remains broad and service-oriented without specialization in protein drug development.
In contrast, Protovate is uniquely positioned to operate effectively under data-limited conditions. By combining reinforcement learning with E. coli-based EcORep mutagenesis and functional screening through SLCA, Protovate generates new functional protein datasets in real time. This allows the platform to bootstrap therapeutic discovery even with minimal prior data, reducing dependency on massive datasets while ensuring clinically relevant optimization under tumor-like conditions. Coupled with its modular SpyCatcher/SpyTag system, Protovate not only differentiates itself from data-heavy competitors but also establishes a sustainable, licensing-ready pathway for oncology-focused protein drug development.
Business Model
Key Partners
To strengthen the credibility and scalability of our platform, Protovate is building partnerships across academia, industry, and biotech accelerators.
From the academic side, we have gained recognition from members of the Frances Arnold Lab at Caltech, led by the Nobel Prize laureate in directed evolution. Their acknowledgment provides validation of our model's feasibility and scientific rigor. Similarly, Academician Wen-Hsiung Li of the U.S. National Academy of Sciences has expressed interest in collaborating with us once our model reaches maturity. Furthermore, Dr. Huey-Kang Sytwu, President of Taiwan's National Health Research Institutes (NHRI), is currently in discussion with us regarding potential joint initiatives.
On the industry side, we are in active contact with the CTO of Ho Rong Technology Co., Ltd., who is particularly interested in exploring applications of our system in BNCT drug development. In addition, Protovate has initiated discussions with leading Taiwanese biopharmaceutical companies such as United Biomedical, PharmaEssentia, and Syncell Biotech, aiming to sign Memoranda of Understanding (MOUs) for early-stage licensing and pilot projects.
We also benefit from the mentorship resources of the NTHU Garage accelerator, which connects us to seasoned industry experts and venture partners, helping us refine our go-to-market strategy and secure angel funding opportunities.
Together, these strategic partnerships position Protovate at the intersection of cutting-edge research and commercialization, ensuring both scientific excellence and a viable pathway toward industrial adoption.

Figure 4. Team at NTHU Garage
The Protovate team at NTHU Garage, representing their participation in the university's entrepreneurship hub and early-stage innovation ecosystem.

Figure 5. NTHU Garage Logo
NTHU Garage is the startup incubator of National Tsing Hua University, supporting student ventures like Protovate with resources and mentorship.
Connect with NTHU Garage:
Key Activities/Implementation Strategy
Beachhead Strategy

Beachhead Market
Seg 1 / App 1 – Taiwanese Biotech Research Institutes & University Wet Labs
- Application: Protein optimization for enzyme screening and academic drug design.
- Reason: These institutions (e.g., NHRI, Academia Sinica, NTHU) have active protein R&D projects but lack AI-automation capacity.
- Goal: Demonstrate PoC (Proof of Concept) and secure first licensing partnerships.
Follow-on Markets
Seg 1 / App 2 – Taiwanese Biotech Startups
- Application: AI-assisted protein optimization for small-scale therapeutic development.
- Goal: Provide short-term licensing and support startups using Protovate as an outsourced R&D engine.
Seg 2 / App 1 – Asia-Pacific Biotech Accelerators (Japan, Singapore, South Korea)
- Application: Regional expansion of AI-directed evolution services via accelerator collaborations (e.g., TTA, Garage+).
- Goal: Establish regional presence and cross-border validation projects.
Seg 2 / App 2 – Contract Research Organizations (CROs)
- Application: Integration of Protovate's protein modeling workflow into CRO service pipelines.
- Goal: Enable co-development contracts and B2B recurring licensing.
Seg 3 / App 1 – Mid-size Pharmaceutical Companies
- Application: Co-development of therapeutic proteins targeting oncology and enzyme replacement therapy.
- Goal: Transition from licensing to milestone-based partnerships (royalty 3–5%).
Seg 3 / App 2 – Global Pharma & AI Drug Discovery Consortiums
- Application: Integration into global-scale drug discovery alliances (e.g., Roche, AstraZeneca, GSK).
- Goal: Enter the royalty and co-patent revenue phase, establishing Protovate as a global AI-protein platform.
Expansion Arrows
- New Segments for the Same Application: From Taiwan → Asia-Pacific → Global biotech ecosystems.
- New Applications for the Same Segment: From enzyme/protein design → therapeutic development → platform-as-a-service (PaaS) model.
After securing our beachhead market, we identified key milestones in our commercialization journey.


Key Resources

Intellectual Property (IP)
Protovate's intellectual property strategy forms the foundation of our long-term competitiveness and regulatory compliance. With both AI-driven reinforcement learning algorithms and directed evolution experimental workflows at the core of our innovation, robust IP protection is essential to secure exclusivity, prevent replication, and ensure sustainable commercialization in the global biotech landscape.
1. Freedom-to-Operate (FTO) Analysis
A comprehensive patentability search conducted in collaboration with NTHU's Intellectual Property and Technology Transfer Office (IPTTO) has yielded an 85% likelihood of successful approval, confirming the novelty and inventive step of Protovate's technology.
Our team has also performed a freedom-to-operate (FTO) assessment to ensure that Protovate's algorithms and protein optimization methods do not infringe upon existing AI-assisted protein engineering patents, such as those filed by DeepMind (AlphaFold) or Insilico Medicine. The FTO analysis highlights that Protovate's EcORep + SLCA integration—combining reinforcement learning optimization with directed evolution data—represents a distinct and patentable innovation not covered by existing filings.
2. Patents and Trademarks
Protovate is currently filing a U.S. provisional patent and an internal university patent through NTHU-IPTTO, covering:
- Reinforcement learning-based protein optimization algorithms.
- Experimental workflows for directed evolution validation.
- Novel data integration frameworks bridging computational and wet-lab design.
To strengthen market positioning, Protovate also plans to register trademarks for its brand name, visual identity, and proprietary platform labels. This ensures clear brand differentiation and prevents confusion or misuse in the emerging AI-biotech market.
3. Trade Secrets and NDAs
While key innovations will be patented, specific elements of Protovate's workflow—including model training datasets, parameter tuning strategies, and wet-lab validation methods—will remain protected as trade secrets.
To safeguard confidential data during collaborations, non-disclosure agreements (NDAs) are systematically signed with academic institutions, biotech partners, and service providers. This approach ensures that proprietary source code, generated protein data, and experimental results remain confidential and under controlled access.
4. IP Risk Mitigation and Regulatory Compliance
Protovate actively collaborates with patent attorneys and legal advisors specializing in biotech and AI regulation to ensure compliance with both U.S. and Taiwan IP law. Continuous monitoring of international patent databases allows us to update our filings and mitigate infringement risks proactively.
Beyond legal protection, Protovate's ethical and data governance framework aligns with global standards such as OECD biotechnology guidelines and AI transparency principles, ensuring responsible innovation and risk-free commercialization.
Customer Relationships
Protovate accelerates early-stage drug development over three times faster, cutting time and cost for pharma companies and research labs. Operating under a B2B licensing model, our sales rely on direct engagement from company officers with clear technical materials, not large marketing campaigns.
In Taiwan, we build trust through community networks, academic collaborators, and industry mentors, leveraging reputation and word-of-mouth to gain early adopters. By maintaining feedback-driven partnerships, Protovate ensures customer satisfaction and long-term loyalty while preparing for global expansion.
Channels
1. Direct B2B Engagement
- • Pitch decks & technical white papers to present PoC/MVP results to mid- to large-scale pharma and biotech companies
- • Executive-led meetings (CEO, CTO, CSO) to directly build trust without relying on a large salesforce
2. Academic & Industry Networks
- • iGEM and international conferences to showcase our technology and attract early partners and investors
- • Partnerships with NHRI, Academia Sinica, and NTHU Garage+ to strengthen credibility and validate our pipeline
3. Community & Reputation Building
- • Taiwan biotech & startup ecosystem via accelerators (Garage+, TTA) and startup competitions
- • Word-of-mouth & social exposure highlighting our "3x faster development cycles" as a key differentiator
4. Strategic Partnerships
- • Co-development with pharmaceutical companies to reduce entry barriers and demonstrate early clinical relevance
- • Licensing agreements to provide access to our core algorithm and protein optimization services, generating long-term revenue
Customer Segments
1. Primary Customers
- • Mid- to large-scale pharmaceutical companies
- 。 Need to accelerate protein/enzyme discovery and reduce cost in early-stage R&D.
- 。 High demand for innovative platforms that can shorten preclinical timelines.
- • Biotech startups & research institutes
- 。 Require efficient protein optimization but often lack in-house AI or high-throughput wet lab capabilities.
- 。 Interested in licensing Protovate's platform for validation and proof-of-concept studies.
2. Secondary Customers
- • Academic research laboratories
- 。 Particularly those in structural biology, protein engineering, and enzyme design.
- 。 Value access to our AI-driven closed-loop system for faster, lower-cost experimental cycles.
- • CROs (Contract Research Organizations)
- 。 Can integrate Protovate's platform into client pipelines as a service add-on.
3. Future Market Expansion
- • Agri-biotech companies → enzyme optimization for food and agriculture.
- • Industrial biotech firms → protein/enzyme design for green chemistry and materials.
Risk Analysis
Preparatory Phase (2025)
Risk | Severity | Mitigation |
---|---|---|
Patent not granted / conflicts | High | Work with NTHU IPTTO & U.S. attorneys; file provisional early; strengthen novelty claims. |
Market validation shows weak demand | Medium | Conduct early surveys; pilot PoC with biotech labs; showcase iGEM results. |
Lack of investors/partners | High | Leverage NTHU Garage, iGEM exposure, and pitch competitions to broaden investor base. |
High IP/legal costs | Medium | Apply for government grants; stagger filings geographically. |
Development Phase (2026–2028)
Risk | Severity | Mitigation |
---|---|---|
Model fails to generate functional proteins | High | Iterative wet-lab feedback loop; multiple benchmarks; external advisors review. |
Lack of computational resources | Medium | Use cloud credits, government HPC access, partner universities. |
Wet-lab bottlenecks | High | Outsource to multiple CROs; secure discounted vendor contracts. |
Data limitations | High | Collaborate with NHRI, Academia Sinica for dataset sharing; generate synthetic data. |
Regulatory/ethical concerns | High | Establish internal ethical review; publish safety protocols. |
Launch Phase (2029–2030)
Risk | Severity | Mitigation |
---|---|---|
Non-functional MVP / delays | High | Stage-gate validation before launch; strong beta-testing with early adopters. |
Lower than expected adoption | High | Target niche oncology applications first; demonstrate 3x faster timeline and cost savings. |
Negative customer feedback | Medium | Continuous customer feedback loops; agile development. |
Competitor advantage | High | Emphasize differentiation: closed-loop RL + tumor-like validation + modularity. |
Revenue shortfall | High | Diversify revenue: licensing, IP package sales, service fees. |
Financial Analysis
Cost Structure
Category | Description | Estimated Monthly Cost (USD) | Annual Cost (USD) |
---|---|---|---|
Personnel | Salaries and benefits for AI engineers, computational biologists, wet-lab scientists, and legal/IP advisors. | $32,000 | $384,000 |
• AI Engineers (2) | Responsible for reinforcement learning model design & maintenance | $8,000 | $96,000 |
• Computational Biologist (1) | Data modeling, protein structure simulation | $5,000 | $60,000 |
• Wet-lab Scientists (2) | Protein assay validation, experiment execution | $10,000 | $120,000 |
• Legal/IP Advisor (part-time) | Contract review, patent support | $2,000 | $24,000 |
• Executive & Admin Staff (CEO, COO, CFO) | Business operations & strategy | $7,000 | $84,000 |
Computational Resources | Cloud computing, storage, and software tools | $6,000 | $72,000 |
• GPU Cloud Training (AWS/GCP) | Reinforcement learning and AlphaFold simulations | $4,000 | $48,000 |
• Data Storage & Backup | Secure biological dataset management | $1,000 | $12,000 |
• Software Licenses | ML frameworks, analysis & visualization tools | $1,000 | $12,000 |
Laboratory Resources | Consumables, reagents, and equipment use | $8,000 | $96,000 |
• Consumables & Assay Kits | Protein expression, purification, and testing | $3,500 | $42,000 |
• Shared Equipment Fees | Centrifuges, spectrophotometers, incubators, etc. | $2,000 | $24,000 |
• Lab Rental / Incubator Space | (e.g., NTHU BioLab or Garage+ Wet Lab) | $2,500 | $30,000 |
Intellectual Property (IP) & Legal | Patent and IP protection, NDA drafting, licensing contracts | $3,000 | $36,000 |
• Patent Filing Fees | Provisional + international filing | $1,500 | $18,000 |
• NDA / Licensing Legal Fees | Contract preparation and review | $1,000 | $12,000 |
• Maintenance & Consultation | IP renewals, legal retainer | $500 | $6,000 |
Company Formation & Operations | Registration, compliance, and outreach | $2,500 | $30,000 |
• Business Registration & Accounting | Incorporation, audit, tax filing | $1,000 | $12,000 |
• Administrative & Utilities | Rent, office supplies, internet, travel | $1,000 | $12,000 |
• Marketing & Networking | Accelerator participation, demo days | $500 | $6,000 |
Contingency Reserve (5%) | Risk buffer for unplanned expenses | — | $30,900 |
Total Estimated Operating Expenses | — | — | ≈ $648,900 / Year |
Revenue Streams
Revenue Source | Description | Unit Revenue (USD) | Expected Annual Volume | Projected Annual Income (USD) |
---|---|---|---|---|
Pilot Licensing | Short-term pilot collaborations for proof-of-concept validation. Biotech partners test Protovate's AI-directed protein design system on limited targets. | $50,000 – $100,000 / deal | 4–6 deals | $300,000 – $600,000 |
Standard Licensing | Full-access licenses to the Protovate closed-loop AI + directed evolution platform. Typically multi-year with recurring renewal fees. | $200,000 – $500,000 / license | 3–4 clients | $600,000 – $2,000,000 |
Co-Development Milestones | Collaborative R&D programs with milestone payments tied to drug development stages (preclinical, IND, Phase I–III). | $1,000,000 – $5,000,000 / stage | 1–2 active programs | $2,000,000 – $8,000,000 |
Royalties on Partner Sales | Long-term recurring royalties from licensed therapeutic products. Estimated 3–5% of net sales after commercialization. | 3–5% of partner revenue | 1–3 launched products (2030 onward) | $3,000,000 – $10,000,000 |
IP Package Licensing | Sale or licensing of specific Protovate-generated proteins, patents, or proprietary molecular IP. | $250,000 – $1,000,000 / IP | 2–3 deals | $500,000 – $3,000,000 |
Exit Strategy
Protovate envisions a long-term exit through an initial public offering (IPO) once the platform has established strong market traction and recurring revenue.
The IPO path is justified by three core milestones:
- 1. Market Penetration and Licensing Revenue
- • By 2028, Protovate aims to secure multiple biotech licensing agreements and co-development projects across Taiwan and Asia, generating sustainable cash flow through milestone payments and royalties (3–5% of partner drug sales).
- 2. Global Expansion
- • Following Series A, Protovate will expand into international biotech and pharma partnerships, strengthening its position as a unique platform provider in protein therapeutics.
- • A diversified pipeline of licensing deals will reduce reliance on a single partner, building investor confidence.
- 3. IPO Readiness
- • With validated proof-of-concept, established patents, and recurring licensing + royalty income, Protovate will be positioned for listing on an international exchange (e.g., NASDAQ Biotech Index or Taiwan Stock Exchange biotech sector).
- • The IPO provides liquidity for early investors while raising additional capital to scale globally and pursue broader therapeutic markets (oncology, immunology, industrial biotech).
Alternative Exits: In addition to IPO, Protovate remains open to strategic acquisition by a major pharma or biotech company seeking to integrate AI-driven directed evolution into their pipeline (e.g., Novartis, Roche, or AstraZeneca).
Future Development
Potential Funding
Angel & Seed Stage (2025–2026)
- • Target: USD $0.2M (angel) to support MVP, PoC validation, and patent applications
- • USD $3M (seed round) to recruit AI and computational biology specialists, expand datasets, and initiate early biotech licensing deals
Series A (2028)
- • Target: USD $15M to scale wet-lab validation, expand the protein evolution dataset, and secure partnerships with leading biotech firms in Asia
Non-Dilutive Funding
- • Government innovation programs (e.g., Taiwan's Ministry of Science and Technology, NIH collaborations)
- • Global health initiatives and biotech-focused grants to reduce equity dilution
Strategic Partnerships
- • Early pilot licensing projects (USD $50k–100k) with Taiwan biotech companies
- • Standard licensing and co-development deals leading to milestone payments (USD $1–5M per stage) and long-term royalties (3–5% of sales)
Gantt Chart

Figure 6. Gantt Chart – Protovate Roadmap
The Gantt chart outlines Protovate's multi-phase roadmap from 2025 to 2034, covering MVP development, fundraising, licensing, global expansion, and pharma partnerships.
Long-term Impacts
Protovate's long-term vision extends beyond scientific innovation, emphasizing sustainable and ethical technology development.
Our positive impacts include transforming the drug discovery landscape by accelerating therapeutic design and reducing laboratory waste, which collectively contribute to lower R&D emissions and faster access to medicine worldwide. In the long run, this can help democratize biotechnology, allowing smaller research groups and developing regions to benefit from advanced protein design capabilities.
However, we also recognize potential negative implications associated with AI-driven biotechnology.
These include the misuse of generative protein design models, unintended release of sensitive datasets, and the ethical concerns surrounding automated decision-making in therapeutic development. To mitigate these risks, Protovate has established a multi-layered framework of Ethical Governance and Data Transparency to ensure responsible innovation at every stage.
Under our Ethical Governance policy, Protovate integrates ethical review checkpoints into each phase of model development—from dataset acquisition to protein generation. The framework defines boundaries for acceptable use cases, requiring internal review before releasing any model or dataset. In addition, data transparency protocols ensure that every training dataset, model update, and validation result is securely documented and auditable, minimizing the risks of bias or misuse.
Our team also plans to implement a Closed-Loop Model Review Process, where each new AI-generated protein sequence must undergo biological validation and ethical screening before external deployment.
To reinforce accountability, Protovate will form an Ethical Advisory Committee composed of academic mentors, AI specialists, and bioethics consultants—an approach inspired by our prior safety interviews and ethical discussions conducted during iHP (Integrated Human Practices). These experiences guided us in designing a platform that prioritizes both innovation and responsibility, ensuring that Protovate's technology not only accelerates discovery but also safeguards biosecurity and public trust.
Through this proactive impact management and governance framework, Protovate aims not only to deliver technological advancement but also to set a precedent for transparent, ethical, and sustainable AI application in biotechnology.
Business Plan
Pitch Deck
References
DIGITIMES Research. Global and Taiwan AI healthcare markets estimated to see robust CAGR from 2023 to 2030.
https://www.digitimes.com/news/a20230515PD205/healthcare-market.htmlFortune Business Insights. (2024). Functional Protein Market Size, Share & Industry Analysis, By Source (Animal and Plant), Application (Functional Food & Beverages, Animal Feed, and Dietary Supplements), and Regional Forecast, 2024-2032.
https://www.fortunebusinessinsights.com/functional-proteins-market-102458Fortune Business Insights. (2023). Artificial Intelligence (AI) in Drug Discovery Market Size, Share & COVID-19 Impact Analysis, By Drug Type (Small Molecule and Large Molecule), By Offering (Software and Services), By Technology (Machine Learning, Natural Language Processing, and Others), By Application (Endocrinology, Cardiology, Oncology, Neurology, and Others), By End-user (Pharmaceutical & Biotechnological Companies, Academic & Research Institutes, and Others), and Regional Forecast, 2023-2030.
https://www.fortunebusinessinsights.com/artificial-intelligence-in-drug-discovery-market-105354Jumper, J., Evans, R., Pritzel, A., Green, T., Figurnov, M., Ronneberger, O., Tunyasuvunakool, K., Bates, R., Žídek, A., Potapenko, A., Bridgland, A., Meyer, C., Kohl, S. A. A., Ballard, A. J., Cowie, A., Romera-Paredes, B., Nikolov, S., Jain, R., Adler, J., Back, T., … Hassabis, D. (2021). Highly accurate protein structure prediction with AlphaFold. Nature, 596(7873), 583–589.
https://doi.org/10.1038/s41586-021-03819-2Madani, A., Krause, B., Greene, E. R., Subramanian, S., Mohr, B. P., Holton, J. M., Olmos, J. L., Jr, Xiong, C., Sun, Z. Z., Socher, R., Fraser, J. S., & Naik, N. (2023). Large language models generate functional protein sequences across diverse families. Nature biotechnology, 41(8), 1099–1106.
https://doi.org/10.1038/s41587-022-01618-2Wu, Z., Kan, S. B. J., Lewis, R. D., Wittmann, B. J., & Arnold, F. H. (2019). Machine learning-assisted directed protein evolution with combinatorial libraries. Proceedings of the National Academy of Sciences of the United States of America, 116(18), 8852–8858.
https://doi.org/10.1073/pnas.1901979116Alley, E. C., Khimulya, G., Biswas, S., AlQuraishi, M., & Church, G. M. (2019). Unified rational protein engineering with sequence-based deep representation learning. Nature methods, 16(12), 1315–1322.
https://doi.org/10.1038/s41592-019-0598-1Angermueller, C., Pärnamaa, T., Parts, L., & Stegle, O. (2016). Deep learning for computational biology. Molecular systems biology, 12(7), 878.
https://doi.org/10.15252/msb.20156651Orientation-Aware Graph Neural Networks for Protein Structure Representation Learning.
https://arxiv.org/abs/2201.13299Reinforcement Learning for Sequence Design Leveraging Protein Language Models.
https://arxiv.org/abs/2407.03154Grand View Research. (2024). Artificial intelligence in drug discovery market size, share & trends analysis report.
https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-drug-discovery-marketIQVIA Institute for Human Data Science. (2023). Global trends in R&D: Overview through 2030.
https://www.iqvia.com/insights/the-iqvia-institute/reports-and-publications/reports/global-trends-in-r-and-d-2023
Social Responsibility & SDGs
▼Aiming to advance biotechnology innovation while contributing to global sustainability and health goals, our mission aligns with the United Nations Sustainable Development Goals (SDGs) by addressing urgent challenges in healthcare and responsible innovation.
SDG 3 – Good Health and Well-Being
By accelerating protein therapeutic discovery 3x faster, Protovate lowers the time and cost of developing life-saving treatments for cancer and other diseases, increasing accessibility to innovative medicines.
SDG 9 – Industry, Innovation, and Infrastructure
Protovate integrates AI, directed evolution, and modular protein engineering into a cutting-edge biotech platform, fostering collaboration across academia, startups, and established pharmaceutical companies.
SDG 12 – Responsible Consumption and Production
By reducing experimental waste through AI-guided closed-loop workflows, Protovate minimizes the use of reagents and laboratory resources, supporting more sustainable R&D practices.
SDG 17 – Partnerships for the Goals
Collaboration lies at the core of Protovate's strategy. We actively build partnerships with universities, biotech companies, and accelerators to create an innovation ecosystem that benefits both science and society.
Through these commitments, Protovate not only builds a competitive biotech platform but also ensures that innovation translates into positive societal impact, environmental responsibility, and global health advancement.