Mykor builds growth business on bio-based innovation with Innovate UK backing
Mykor, a Bristol based cleantech company, is transforming the construction industry with its innovative, low-carbon building solutions. The company’s flagship product, MykoSIP, offers a carbon-negative alternative to conventional structural insulated panels, contributing to a greener, more sustainable built environment. With bespoke business growth support from Innovate UK, Mykor has secured more than £950,000 in grant funding, attracted £2M in seed investment, created 17 full-time positions, established critical partnerships across academia and industry, and secured £337M in commercial agreements.
Manufacturing construction materials accounts for 11% of global carbon emissions, and traditional insulation materials are a major contributor. Mykor is tackling this challenge head-on with MykoSIP, a renewable thermal and acoustic structural insulation panel made using fungal mycelium adhesives and bio-based waste feedstocks. Each square metre of MykoSIP removes 48 kilograms of carbon dioxide from the atmosphere, making it a game-changer for sustainable construction compared to conventional building products.
Valentina Dipietro, Co-Founder and COO of Mykor, says: “MykoSIP is a significant breakthrough in sustainable insulation panels, offering a high-performance, carbon-negative alternative to traditional materials. By reducing emissions, conserving resources, and harnessing renewable bio-based feedstocks, it enables the construction industry to build more sustainably and mitigate its environmental impact.”
Mykor began its journey with Innovate UK in 2021 after securing a £5,000 Young Innovators Award. In addition to funding, Mykor benefitted from networking opportunities plus mentorship and expert guidance from Innovate UK Business Growth, which helped lay the groundwork for its business model and innovation strategy.
As part of this support, Mykor worked with Tracey Usher, Innovation and Growth Specialist at Innovate UK Business Growth, who developed a detailed growth action plan with the company, focusing on securing investment, protecting intellectual property (IP), and exploring new market opportunities.
Valentina explains: “Tracey provided invaluable insights and strategic guidance that helped refine our business model, streamline operations, and improve overall efficiency. Her coaching enabled us to identify key growth opportunities, enhance leadership skills, and implement effective strategies that led to increased revenue opportunities.”
Investment and funding accelerating growth
The company has also benefited from a total of £950,000 in public funding, including a £231,521 Innovate UK Grant and a £31,362 Sustainable Biomanufacturing Feasibility Study grant. The latter, awarded in collaboration with the Biotechnology and Biological Sciences Research Council (BBSRC) and the Engineering and Physical Sciences Research Council (EPSRC), part of UK Research & Innovation (UKRI), supports a total of 34 feasibility studies nationwide.
This funding has facilitated Mykor’s collaboration with the Biorenewables Development Centre in York and the University of the West of England in Bristol to advance its bio-based insulation technology.
Innovate UK Business Growth’s support has played a crucial role in helping Mykor attract investment and expand its market presence. After strategic guidance on investment readiness, Mykor successfully raised £2M in seed investment, with backing from Rumbo Ventures, Green Angel Ventures, Sustainable Ventures, Core Angels, Moonstone and Pera Innovation. This investment is enabling Mykor to establish a pilot manufacturing line and prove process scalability.
International expansion and IP protection
Beyond support around investment and funding, Mykor has also leveraged the Intellectual Property Office’s IP Advance scheme, accessed through Innovate UK Business Growth. Through this initiative, the company underwent an IP audit that helped strengthen its IP strategy, ensuring the protection of its unique bio-based insulation technology.
With a strong foundation in place, Mykor is now scaling internationally. The company has secured off-take agreements worth £337 million and is establishing co-manufacturing partnerships in Belgium, Portugal, and the UK to increase production. Additionally, Mykor’s participation in the Cambridge Institute for Sustainability Leadership (CISL) programme has unlocked new market opportunities and further research collaborations.
Valentina adds: “The support we’ve received has been invaluable in helping us scale, but it was the mentorship, networking opportunities, and expert guidance that truly helped us refine our strategy and connect with key industry stakeholders. We’ve created 17 full-time positions since I started the company on my own and hope to add more to our team as we accelerate our growth trajectory.”
Innovation driving sustainable growth
Mykor is now expanding its product range beyond structurally insulated panels. The company is exploring new applications for its mycelium-based materials, including fully biobased building systems. By integrating its circular economy principles into broader construction materials, Mykor is positioning itself at the forefront of the next generation of sustainable building solutions.
Valentina concludes: “Since working with Innovate UK Business Growth, we have expanded our R&D capabilities, validated our technology through third-party testing, and developed new product lines. One of our latest innovations has already gained traction with customers, leading to substantial commercial agreements. The next three years will be pivotal for our international expansion.”
With its continued expansion into new markets and a strong commitment to sustainability, Mykor is not just redefining insulation—it is helping reshape the future of the construction industry. By reducing emissions, advancing bio-based materials, and fostering UK economic growth, Mykor is demonstrating how innovation-led businesses can drive lasting change.
The support we’ve received has been invaluable in helping us scale, but it was the mentorship, networking opportunities, and expert guidance that truly helped us refine our strategy and connect with key industry stakeholders.
– Valentina Dipietro, Co-Founder and COO of Mykor