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Responding to demand for life science startup space in Cambridge, Alexandria Real Estate Equities has opened a 20,000-square-foot incubator at its One Kendall Square property.
Alexandria LaunchLabs has selected 10 seed- and early-stage companies following a competitive application process. Members get access to shared equipment and mentorship from Alexandria’s on-site management team.
One company will receive a $100,000 investment from Alexandria’s venture capital arm in early 2019 following an upcoming scientific pitch competition.
Alexandria, a Pasadena, California-based life science developer that owns 6.4 million square feet of office and lab space in Greater Boston, acquired the One Kendall campus in 2016 for $725 million from DivcoWest.
Alexandria Launchlabs, located near One Kendall Square’s entry plaza, offers flexible wet labs and offices starting at $1,995 per month, along with access to conference rooms, a lounge and cafe. The space is hosting 10 startups and accepting additional applications on Alexandria’s website.
Providing flexible and affordable research space is important to the Cambridge life science cluster, Catherine Nuccio, senior associate at Alexandria, said in a statement.
“We believe in the importance of catalyzing high-potential entrepreneurs, and with our proprietary platforms, we are able to offer the foundational support needed to sustain the long-term health and diversity of life science companies that are so critical to the DNA of Kendall Square,” Nuccio said.
