LabCentral Launches Inaugural LabCentral Ignite Golden Ticket Program

Offers opportunity for underrepresented biotech entrepreneurs to benefit from LabCentral's lab space, shared resources and community

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LabCentral

Aug 26, 2021, 08:00 ET

CAMBRIDGE, Mass., Aug. 26, 2021 /PRNewswire/ -- LabCentral, with the support of AbbVie, today announced the LabCentral Ignite Golden Ticket, an annual program designed to allow a more diverse range of biotech entrepreneurs to advance their research and bring their ideas to fruition. The program will award one year of advisory support and a seat at LabCentral's state-of-the-art shared lab space in Kendall Square for up to two innovative life sciences companies with founders from underrepresented groups in the industry. This program further expands the existing relationship between AbbVie Ventures and LabCentral. Life sciences startups interested can apply at: https://labcentralignite.org/golden-tickets by October 1, 2021.

The LabCentral Ignite Golden Ticket is one of many programs that are a part of LabCentral's Ignite initiative that aims to advance life sciences innovation by making the biotechnology industry more inclusive and equitable. The Ignite Golden Ticket program supports promising entrepreneurs from underrepresented groups that have historically been left out of the life sciences entrepreneurship through access and support from the LabCentral ecosystem.

"Unfortunately, in biotech, systemic inequity, bias and discrimination impact the inclusion and advancement of talent from underrepresented groups like Hispanic/Latinx, Black/African American, Indigenous/Native peoples, and Women, among others, at staggering rates," said Krista Licata, Managing Director of LabCentral Ignite. "As part of our initiative to close these gaps, the Ignite Golden Ticket program will improve the potential for underrepresented founders and enrich the entire biotech startup community through a broader diversity of ideas."

"Excellence in biotech benefits innovation and more importantly, people. At AbbVie, developing and delivering innovative life-changing medicines for our diverse patients with unique health challenges requires thoughtfulness and creativity that comes from having a wide range of inputs. We know the best ideas can come from anywhere," said Rae Livingston, Chief Equity Officer at AbbVie. "By supporting LabCentral's Ignite initiative, we are removing barriers and obstacles and investing in the acceleration and success of entrepreneurs who have the talent to make positive impact through their innovative ideas."

As with all LabCentral Golden Tickets, candidates will be reviewed based on the quality and potential impact of their science along with other standard selection criteria. Based on the review, a select number of entrepreneurs will be invited to present at LabCentral in December 2021. Prior to the event, all finalists will also receive access to coaching and mentorship. The December event will be comprised of 100+ biotech industry professionals, pharma scouts, and VC investors. Two winners will be chosen to receive the Golden Ticket award, which includes one year of bench space per scientist and a fellowship that incorporates mentorship, coaching and support throughout 2022.

"Biotech represents such an incredible opportunity for Massachusetts, not only in terms of our economy, but our standing in the nation and the world, as a hub of research, science and healthcare innovation," said Kenn Turner, president and CEO, Massachusetts Life Sciences Center. "LabCentral's Ignite Golden Ticket program – with the support of AbbVie – will help to keep us at the forefront of science by ensuring equity, diversity and inclusion in our biotech workforce."

The Ignite Golden Ticket program is part of LabCentral Ignite, a new initiative that launched earlier this year with the goal of enhancing biotech innovation by stimulating a robust pipeline of diverse, qualified talent. Through pooled investment in training programs focused on equitable access through education, support of industry inclusivity initiatives and placement of qualified diverse talent, LabCentral Ignite will facilitate broader access to the biotech industry for socioeconomically disadvantaged, underserved, and under-represented individuals and communities.

For more information, please visit: https://labcentralignite.org/golden-tickets.

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 100,000 square-feet in the heart of Kendall Square in Cambridge, Mass., LabCentral offers fully permitted laboratory and office space for as many as 70 startups comprising approximately 500 scientists and entrepreneurs. More information is available at www.labcentral.org.

About AbbVie
AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, Instagram, YouTube and LinkedIn.

SOURCE LabCentral