Incubator launches in the US and the UK to support genomics start-ups

A US-based incubator has officially launched in the US and the UK to support genomics start-ups.

Illumina Ventures Labs, part of the independently managed fund Illumina Ventures, has two genomics labs based in Foster City, California and Cambridge, England. The accelerator is now operational and finalising agreements with several start-up companies.

With its sequencing capabilities and life science technologies from Illumina and Illumina Ventures’ portfolio companies, Illumina Ventures Labs aims to enable early-stage companies to accelerate the time needed to reach their next value inflection point.

“Illumina Ventures Labs offers a unique mechanism to invest in and build early-stage companies,” said Ron Mazumder, partner at Illumina Ventures.

“Our facilities, mentorship and investment model, based on both cash and in-kind contributions, are uniquely suited to the needs of start-ups whose value proposition is enhanced through substantial genomics and sequencing capabilities.”

According to Mazumder, Illumina Ventures Labs capitalises on Illumina Ventures’ deep technical and entrepreneurial expertise to support the development and acceleration of early-stage breakthrough genomics start-ups from company formation through Series A financings.

Labs-based companies will receive direct mentorship as well as connections to other companies within the Illumina Ventures portfolio and will gain access to experts in Illumina’s R&D organisation.

In order to access and fully develop scientific excellence, Illumina Ventures Labs  says it will allow companies to stay in labs for up to eighteen months and employ virtual and hybrid formats.

It is anticipated that, after leaving the labs, companies will be significantly “de-risked” and will be attractive investment opportunities for the wider venture capital community.

Ashley Van Zeeland, vice president of corporate development at Illumina, said: “We applaud the significant progress made by Illumina Ventures Labs to launch a company creation engine providing early-stage companies access to enabling technologies to reach value creation milestones.

“We look forward to continuing to work closely with companies pioneering breakthrough applications in genomics.”