TLDR:
- Illumina Ventures has launched a new startup accelerator program called Illumina Ventures Labs.
- The program will offer funding, mentorship, technical guidance, and DNA analysis hardware to early-stage genomics startups.
Illumina Ventures, the venture capital firm of genomics company Illumina, has announced the launch of its new startup accelerator program called Illumina Ventures Labs. This program replaces its previous Accelerator program and aims to provide funding, mentorship, technical guidance, and DNA analysis hardware to early-stage genomics startups.
Since 2016, Illumina Ventures has invested in over 30 startups in the U.S. and Europe. The larger Illumina company has also served as a limited anchor partner in its fund. The previous Accelerator program helped launch 74 companies and attracted $1.2 billion in third-party investments.
The new Illumina Ventures Labs will offer fully equipped and operational genomics laboratories and office space in Cambridge, U.K., and Foster City, California. The program is currently accepting applications for early-stage genomics startups, from company formation through series A financing.
Labs-based companies will be incubated for up to 18 months and will have access to Illumina’s R&D teams through virtual and hybrid formats. Illumina’s VP of corporate development, Ashley Van Zeeland, has expressed support for the new program and the opportunities it provides for breakthrough applications in genomics.
This article highlights the key elements of Illumina Ventures’ new startup accelerator program. The program aims to support early-stage genomics startups by providing funding, mentorship, technical guidance, and access to DNA analysis hardware. The previous Accelerator program had a successful track record, launching 74 companies and attracting significant third-party investments. The new Illumina Ventures Labs will offer fully equipped genomics laboratories and office space in Cambridge, U.K., and Foster City, California. The program is currently accepting applications for early-stage startups and will incubate them for up to 18 months. Illumina’s VP of corporate development has shown support for the program and its impact on breakthrough applications in genomics.
