LabCentral Ignite Launches IgniteVC to Accelerate Diversity and Inclusion In Life Sciences Venture Capital and Innovator Companies, Sustains Industry Grassroots Effort

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Apr 26, 2023, 09:57 ET

New initiative offers range of DEI tools and resources specifically designed for VC firms and their portfolio companies with support from sponsors Johnson & Johnson Innovation-JJDC, Mission BioCapital, and Third Rock Ventures

CAMBRIDGE, Mass., April 26, 2023 /PRNewswire/ -- LabCentral Ignite, a platform dedicated to advancing racial, gender and other representation and opportunity within the life sciences field, today launched IgniteVC in partnership with the Bioscience & Investor Inclusion Group (BIIG). BIIG is a grassroots effort driven by leaders from venture capital (VC) firms and startups. The new initiative aims to cultivate a highly inclusive life sciences venture capital community and support the growth of more diverse and inclusive portfolio companies from inception to success.

IgniteVC will provide VC firms and startups with practical tools, best practices, and a community of peers to advance their diversity, equity, and inclusion (DEI) goals. This new initiative will build upon years of work done by hundreds of leaders in BIIG, an unprecedented effort to promote DEI in life sciences innovation and investment.

"We are incredibly grateful for the time and expertise of the BIIG volunteers who have created a strong community and a set of unique resources that are now widely available. We look forward to welcoming them to our team as part of IgniteVC. Their hard work and dedication, along with the support of our sponsors, have been instrumental in launching IgniteVC," said Gretchen Cook-Anderson, LabCentral Ignite Executive Director.

Seed support for IgniteVC comes from founding sponsors Johnson & Johnson Innovation-JJDC, Inc., Mission BioCapital, and Third Rock Ventures. IgniteVC will be managed by LabCentral Ignite, which is set to hire a director this spring to lead VC community engagement, expansion, and planned global impact.

"The work that will be done by IgniteVC is critical to driving underrepresented groups into the life sciences sector as a viable career pathway," said Abbie Celniker, PhD, Partner at Third Rock Ventures. "By cultivating a more inclusive VC community and providing resources to support portfolio companies in implementing DEI best practices, IgniteVC is helping to create a more diverse and equitable life sciences ecosystem. We are proud to continue supporting this important work and look forward to seeing the impact it will have on our industry."

To learn more about IgniteVC and how to get involved as a sponsor or member, please visit www.labcentralignite.org/ignitevc.

About LabCentral Ignite
The growing Ignite platform is dedicated to developing equity, inclusion, and opportunity within the life sciences field. Through a range of equity-driven programs and a growing member network of industry, startups, higher education, and nonprofits, Ignite connects underrepresented students, talent and innovators to academic, technical skills-building, mentoring, job placement, and board and leadership preparation opportunities that fuel biotech diversity and inclusively transform careers. More information is available at www.labcentralignite.org.

About the Biosciences Investor Inclusion Group (BIIG)
Bioscience & Investor Inclusion Group is a collaborative volunteer-led effort comprised of life sciences venture capital firms and innovator companies that have worked together since 2020 to develop actionable diversity, equity and inclusion solutions. This industry-driven initiative is centered on the collective mission of advancing DEI in the life sciences sector by utilizing best practices, metrics, tools and processes that have been developed intentionally by leaders actively serving in these companies.
www.bioinclusion.org

About LabCentral
A private, non-profit institution, LabCentral was founded in 2013 as a launchpad for high potential life-sciences and biotech startups. Operating a total of 225,000 square-feet in the heart of Kendall Square in Cambridge, Mass., LabCentral offers fully permitted laboratory and office space for as many as 100 startups comprising approximately 1,000 scientists and entrepreneurs. More information is available at www.labcentral.org.

SOURCE LabCentral