Sequencing and array-based technology developer Illumina has announced that (NASDAQ:ILMN)’s new Illumina Accelerator Boost Capital has secured an initial capital commitment of $40m from global investment firm Viking Global Investors.
The capital will be used to fund investments in promising genomic startups that graduate from Illumina Accelerator.
Led by Amanda Cashin, Ph.D., Illumina Accelerator focuses solely on the genomics industry. It provides select startups with seed investment, business guidance, access to Illumina’s sequencing systems and reagents, and fully operational lab space in the San Francisco Bay Area during each six-month funding cycle.
Every graduate company that raises any amount between $1m and $5m in new capital during the funding cycle will receive match funding from the accelerator.
Applications for Spring 2015 funding cycle are due by March 9, 2015. To apply, visit www.illumina.com/accelerator.