This November, Alexandria LaunchLabs™ will open its doors to local, cutting-edge life science startups at 708 Quince Orchard Road in Gaithersburg, MD.
Alexandria LaunchLabs was created by a consortium of world-class partners to fill a specific unmet need in the market for early-stage life science companies. The consortium, which includes Alexandria Venture Investments (the strategic venture capital arm of Alexandria Real Estate Equities, Inc.), BioHealth Innovation, Montgomery County, and the City of Gaithersburg, recognized that in addition to providing early-stage life science companies with specialized state-of-the-art lab and office space, access to first- class supporting resources, services, and capital, is critical for innovation and growth. As such, consortium members will extend their respective networks to Alexandria LaunchLabs’ tenants, while BioHealth Innovation will provide access to its Startup and Entrepreneur-in-Residence programs. Additionally, co-location will provide a collaborative ecosystem in which tenants will be able to further assist one another in identifying resources and sharing best practices. The creative startup environment fostered at Alexandria LaunchLabs will dramatically accelerate the growth of local early-stage life science companies.
To maintain a unique and collaborative environment, there will be a selective vetting process for prospective tenants to access the space and services provided at Alexandria LaunchLabs. The consortium will select high-quality tenants based on each company’s management team, strong technology and science, business plan, strategic partnerships, and the ability to raise capital. Upon selection, companies will enjoy flexible and beneficial lease terms comprised of an initial 18 months at only $4,120 per month with a six month extension option.
Alexandria LaunchLabs consists of five 1,200 rentable square foot modules, each of which is uniquely designed to provide open and private work space, as well as access to communal areas and equipment such as autoclave, glass wash, and specialty water. Alexandria’s creative amenities will be open to all LaunchLab’s tenants, including the FitLab, Alexandria’s nearby state-of-the-art fitness center.
With strong pre-leasing interest in three of the five modules, this type of collaborative start-up space continues to be at a premium. As local life science demand continues to increase, Alexandria and its consortium partners may seek to expand the Alexandria LaunchLabs’ network to additional locations in the Rockville and Gaithersburg markets.