February 2, 2021 -- Illumina has partnered with investment firm Sequoia Capital China to launch a new collaboration designed to create an incubator for startup companies in the life sciences that have a focus on genomics.
The Sequoia Capital China Intelligent Healthcare Genomics Incubator is intended to create a startup ecosystem in China to help firms develop breakthrough applications in genomics. The companies hope to replicate the success that the Illumina Accelerator project has had in fostering venture-backed startup firms in the U.S. and U.K.
The incubator will have two six-month funding cycles per year and will give startup firms access to investment and business guidance from Sequoia Capital China. They will also gain access to Illumina sequencing systems and reagents, as well as the company's genomics expertise, and its fully operational lab space in Shanghai.
The incubator's first funding cycle will begin in fall 2021.