LabCentral's New Initiative: A Boost for First-Time Biotech Founders with Free Lab Space
LabCentral Launches 'First' Initiative for Biotech Founders
In a significant development for the biotech sector, LabCentral has introduced its newest initiative called LabCentral First. This program aims to support promising life sciences startups by providing them with six months of free access to the state-of-the-art lab facilities that LabCentral is renowned for. With a focus on first-time founders, the initiative strives to overcome the barriers posed by a challenging funding landscape.
Supporting Emerging Entrepreneurs
Based in Cambridge, Massachusetts, LabCentral is a non-profit organization committed to fostering innovation in the life sciences field. The LabCentral First program specifically targets first-time entrepreneurs, including individuals who are either new to the realm of biotech or are venturing into it for the first time. This initiative will select up to 18 startups through a rigorous application process, which has already seen success with a pilot program involving a handful of teams.
Maggie O'Toole, the President and CEO of LabCentral, emphasized the importance of this program in today’s economic environment, stating, "In this particularly challenging funding environment, we are seeing first-time entrepreneurs struggle to get the seed funding that historically allowed them to move in with their initial bench, gather critical early-stage data, and advance their science." LabCentral First is designed to provide these entrepreneurs with that crucial opportunity to jump-start their projects.
A Financially Supportive Environment
In addition to the complimentary lab space, LabCentral is also initiating a substantial 25% reduction in bench rates for the coming year. These new pricing structures will apply not just to the First program participants, but to all existing residents and new applicants. This is part of LabCentral’s broader commitment to foster a supportive community where biotech startups can thrive and innovate. Abby Johnson, LabCentral's VP of Operations, stated, "As we strive to make a positive impact, we are reinvesting our resources to support teams, strengthen the community, and empower scientific research."
How to Apply for LabCentral First
Applications for LabCentral First are now officially open and will be evaluated on a rolling basis. Interested teams should submit their applications through the standard LabCentral process and reach out to LabCentral First Committee by emailing the necessary credentials. This dual evaluation ensures that the selected teams not only meet LabCentral's rigorous standards but also align with the mission of the First program.
About LabCentral
LabCentral has been an integral part of the biotech startup ecosystem since its inception in 2013. Spanning over 200,000 square feet across key locations in Kendall Square and the Harvard University campus, LabCentral provides not just space but a comprehensive support system of programming and networking opportunities tailored for life sciences entrepreneurs. Over its first eleven years, residents of LabCentral have successfully raised more than $20 billion in funding and contributed to the creation of over 7,000 jobs in the biotechnology field.
The LabCentral First initiative exemplifies its ongoing commitment to nurture the next generation of biotech leaders, providing them with vital support at a crucial stage of their entrepreneurial journeys.
To learn more about the LabCentral First program and to access the application details, visit LabCentral's official site.
Topics Health）
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