January 12, 2023 – As part of its efforts to support emerging biotechnology companies with addressing key challenges of bringing new therapies to market, Thermo Fisher Scientific announced it has become a founding sponsor of Momentum Labs in Alachua, Fla. Momentum Labs will serve as a collaborative laboratory and office space for growing biotech businesses in the greater Gainesville region. The venture is spearheaded by Concept Companies, a national real estate development firm headquartered in Gainesville.
The North Central region of Florida is one of the largest biotech clusters in the state, home to over 100 life sciences companies and supporting around 1,200 jobs. Despite this established footing, there is a lack of flexible growth space, making it difficult for emerging companies to succeed. Momentum Labs will be the first space of its type in the region, providing growing life science companies with the ability to scale without having to move to other markets.
Companies that receive support from incubator programs are 87% more likely to survive after five years. Upon graduation, 84% of those companies stay in the communities where they received their support and funding. In partnership with Thermo Fisher, members of Momentum Labs will have access to innovative life science instruments and state-of-the-art lab equipment, infrastructure and resources within the region to support their growth.