ICYMI: Last Friday, the Governor of California, California Governor’s Office of Business and Economic Development (GO-Biz), and California Labor & Workforce Development Agency, announced an award of $23.92M to the LA Collaborative through the Regional Invesment Initiative (RII) of the State’s California Jobs First program to accelerate inclusive growth in the County’s life sciences sector.
As highlighted in the Los Angeles County Department of Economic Opportunity press release, this landmark investment will help grow LA’s bioeconomy, expand equitable access to jobs, and strengthen our region’s entrepreneurial ecosystem.
As part of this investment, Larta Institute has been awarded $3.3M towards our “Fueling Sustainable Capital” project which expands our ability to support companies through our Heal.LA platform and will also establish a fund to deploy catalytic capital to promising life science enterprises to grow and scale in LA County.
Our Founder & CEO Rohit Shukla shares, “Larta’s Fueling Sustainable Capital project, funded through the California Jobs First Regional Investment Initiative, will expand our ability to deliver vital technical assistance to more enterprises and establish a fund to provide catalytic capital to bioscience and medtech companies across LA County. Larta is proud to align the work we will conduct under this award with the work of our remarkable partners in the LA Collaborative, which the State sees as a model for regional growth and collaboration.”
At its root, this work is simply about building together: uniting anchor institutions, entrepreneurs, and communities to ensure LA’s bioscience sector grows in a way that is inclusive, sustainable, and globally competitive.
We’re honored to be part of the LA Collaborative alongside our partners Los Angeles County Department of Economic Opportunity, BioscienceLA, and Los Angeles County Economic Development Corporation (LAEDC) and energized for what’s ahead.
Read the full press release from LA County DEO here.