New York-based Alexandria Real Estate Equities Inc., an urban office REIT focused on collaborative life science and technology campuses in AAA innovation cluster locations, celebrated the first anniversary of Alexandria LaunchLabs, which opened at the Alexandria Center for Life Science – New York City in June 2017. In honor of this milestone, Alexandria will award the second annual $100,000 Alexandria LaunchLabs Seed Capital Prize today to one of 25 emerging innovators and entrepreneurs presenting their biomedical innovations and technologies at the NYC Life Science Innovation Showcase.
Hosted at the Alexandria Center – NYC, the showcase is an annual event organized by Alexandria in partnership with the New York Academic Consortium to provide entrepreneurial scientists from NYC’s world-renowned academic medical institutions the opportunity to pitch their technology to biopharma executives, investors and other community stakeholders.
Since opening its doors at the Alexandria Center just one year ago, Alexandria LaunchLabs has proven the significant advantages it offers early-stage companies. Alexandria LaunchLabs is currently home to over 20 cutting-edge life science startups selected from a competitive pool of over 175 applicants, many of which have spun out from NYC’s leading academic medical institutions. In its first year of operations, Alexandria LaunchLabs grew the number of its member companies by 150%; hosted more than 100 company and community-building events; created multiple touchpoints for its members to engage with fellow entrepreneurs and companies across the Alexandria Center campus; and launched the Alexandria Seed Capital Platform, an innovative funding model to catalyze seed-stage life science investment.
“Our successful execution of Alexandria LaunchLabs and the Alexandria Seed Capital Platform is fostering the city’s next generation of best-in-class biotech companies, and it’s rewarding to see our full-service startup platform deliver right out of the gate,” says Blake Stevens, Ph.D., head of Alexandria LaunchLabs – NYC. “We’ve created a differentiated platform to accelerate the growth of our member companies by integrating them into a vibrant campus ecosystem with unparalleled access to seed capital, state-of-the-art laboratory expansion space, mentorship and Alexandria’s global network.”
Led by Alexandria Venture Investments and supported by a deeply experienced advisory board of biopharma and venture executives from AbbVie, Accelerator Life Science Partners, ARCH Venture Partners, Eli Lilly, Pfizer and Roche, the Alexandria Seed Capital Platform offers a high level of engagement intentionally designed to enhance the trajectory of its recipient seed-stage companies. Alexandria has made initial seed-stage investments through the platform and continues to cultivate the local community of seed-stage investors to help catalyze early investment in NYC’s most promising life science startups.
“The Alexandria Seed Capital Platform has paved the way for raising early-stage capital through its direct investment and guidance on fundraising strategies,” says Charlotte D’Hulst, Ph.D., founder and CEO of MouSensor, Inc., an early-stage biotech company developing a novel and potentially transformative platform to digitize the sense of smell and one of the Alexandria Seed Capital Platform’s first investments. “Alexandria has also been instrumental in introducing us to other investors as well as members of its broader network to support our growth.”
In addition to attracting locally sourced life science startups, Alexandria LaunchLabs’ prime campus location with critical adjacency to NYC’s renowned academic and medical institutions has attracted companies from across the country and internationally, including Vienna-, Paris- and Milan-based startups, that are seeking to establish operations in NYC.
By offering affordable startup space, coupled with highly curated services, access to seed capital and a scalable path for companies to expand within the Alexandria Center campus, Alexandria LaunchLabs is solidifying a pipeline of best-in-class startups that will sustain the future growth of NYC’s life science ecosystem.
Building upon the success of Alexandria LaunchLabs’ initial flagship site in NYC and the Alexandria Seed Capital Platform, Alexandria LaunchLabs will expand to Cambridge, Massachusetts, in the fall of 2018 to meet the cluster’s critical demand for life science startup space and access to seed capital.