Local science technology company Illumina Inc. has added three new startups to its accelerator program, which mentors and invests money into early-stage companies in the genomics technology space.
The three new startups are Coax Biosystems, Resilient Biotics, and Haystack Sciences.
The startups, all based in Northern California, will have several avenues to collect capital through the program. First, Illumina will provide these companies with cash to get started. Then the companies also get access to angel investors, and will be eligible for a dollar-for-dollar match from the $40 million Illumina Accelerator Boost Capital fund when they raise between $1 million and $5 million in capital.
"Over the six months, we try to check all the boxes in building a startup, from how to build a team, to how to develop a go-to-market strategy, to how to find and secure partnerships, networking, and fundraising," Amanda Cashin, co-founder and head of Illumina Accelerator, said in a statement. "We're proud to have these three promising companies join our growing network of genomics startups."
Throughout the six month program, the companies get lab and office space in San Francisco, where Illumina also has a campus.
Also included is a subscription to Illumina's BaseSpace Correlation Engine, BaseSpace Cohort Analyzer, and Clarity LIMS software.