Illumina Accelerator Secures $40 Million Boost Capital to Back New Graduates
BayBio member Illumina, Inc. today announced its new Illumina Accelerator Boost Capital has secured an initial capital commitment of $40 million from Viking Global Investors, a privately owned, global investment firm. Capital commitments made to Illumina Accelerator Boost Capital will be used to fund investments in promising genomic startups that graduate from Illumina Accelerator.
Illumina Accelerator Boost Capital will provide dollar-for-dollar match funding to every Illumina Accelerator graduate company that raises any amount between $1 million and $5 million in new capital during the funding cycle.
This capital commitment is instrumental in driving value for Illumina startups as they advance breakthrough applications in genomics.
Illumina Accelerator is the world’s first business accelerator focused solely on creating an innovation ecosystem for 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.
Applications for Illumina Accelerator’s Spring 2015 funding cycle are due by March 9, 2015. To apply, visit www.illumina.com/accelerator.
Illumina is transforming human health as the global leader in sequencing and array-based technologies. The company serves customers in a broad range of markets, enabling the adoption of genomic solutions in research and clinical settings. To learn how Illumina is unlocking the power of the genome, visit www.illumina.com and follow @illumina.