Mission and Impact
Our mission is to help create the next generation of powerhouse biotech companies by providing entrepreneurs and innovative life-sciences startups with the space and resources they need to test out, challenge, and nurture early ideas. In order to create a fertile environment in which visionaries can thrive, we aim to:
- Foster a collaborative atmosphere that allows thought-sharing and creative exchange
- Offer best-in-class infrastructure to enable the unfettered practice of science
- Promote cost efficiencies through sharing of many services such as permitting, purchasing, maintenance, IT, and security
- Anticipate needs and roadblocks for entrepreneurs in order to provide the smoothest possible path to growth
- Create a bioinnovation ecosystem that fosters collegial interactions among industry, investors, government, and academia
2020 Impact Report – 2020 brought into stark relief just how connected we all are and breadth of the challenges we face in human health. We saw LabCentral resident and alumni companies respond with urgency to the pandemic, in many cases pivoting their programs to develop novel solutions for rapid testing, vaccine development, and therapeutics. Our team responded in turn to keep the labs open and functional throughout the year so that our resident companies were able to continue to make advances. In this report, you will see the progress that companies have made in terms of advancing their therapeutic programs, the growth of their teams, and the incredible amounts of money they have raised. With many of us receiving the first vaccine doses now, we look forward to making 2021 a year of renewed community, with a refocus on people and connection in the real world.
2019 Impact Report – The COVID-19 global pandemic has completely changed our daily lives and turned the past four months into “business unusual” for everyone. It’s brought great challenges in public policy, healthcare, and the economy, but also highlighted a spirit and sense of community as people around the world work together to solve this crisis. As LabCentral navigated the early challenges of the pandemic – instituting measures to keep our facilities open for our Residents’ critical research and launching our weekly virtual event series as a platform for community debate and discussion – another necessary change for us was in how we communicate about our impact in the previous year.
Under normal circumstances, LabCentral would issue a formal Impact Report with key statistics, Resident profiles, and commentary about our success in meeting key objectives in the previous year. However, the ‘new normal’ meant we needed to adjust for these unusual times. We are excited to share a summary about the impact of LabCentral and our community in 2019.
2018 Impact Report – Five years of innovation, five years of growth, five years of community building; we’ve come a long way in half a decade. What began as an idea has grown into a powerhouse innovation space, a thriving network of entrepreneurs, and a driver of the biotech industry in Massachusetts, the nation, and the world. In the last five years, we’ve truly been able to demonstrate the power of our co-working model in accelerating the growth of early-stage life sciences, spurring job growth in the state of Massachusetts, and helping to push the bounds of science every day. Since our opening in late 2013, LabCentral resident and alumni companies, of which there are 109, have raised $4.1 billion in funding highlighting their position as major players in the biotech field. LabCentral companies are doing truly amazing work, developing novel therapeutics, and impacting patient’s lives.
We invite you to take a look at our 2018 Impact Report and see for yourselves how far we’ve come.
2017 Impact Report – Two billion dollars – the cumulative total LabCentral resident companies and alumni have raised over the last four years. With the support of our sponsors and partners, we have created a truly dynamic and thriving ecosystem that propels growth and innovation.
2017 brought about tremendous change as we tripled in size from 28,000 square feet to 103,000 square feet, dramatically increasing our ability to service early-stage and fast-growing life-sciences companies. LabCentral companies added 515 more jobs to the economy and raised over $760 million in additional financing. We concurrently developed strategic partnerships with New England Biolabs and the BioBuilder Educational Foundation to bring cutting-edge synthetic biology workshops, seminars, and classes to students and teachers locally and from around the world. Check out our 2017 Impact Report for a look at the enormous accomplishments our companies are making.
2016 Impact Report – In our third year of growth, we can confidently conclude that LabCentral has truly changed the way life-science companies are built, developed, and operated. In 2016, over $300M in additional financing was raised, 402 new jobs were added to the economy, and dozens of industry partnerships were sealed. Dive into the 2016 impact report to learn more about the landmark achievements our companies are making, and how LabCentral is helping to pave their path to success.
2015 Impact Report – If LabCentral were an independent state, our companies would have raised enough early and seed stage VC funding to be considered the fourth largest in the country. In addition, 2015 saw nine companies successfully exit our facility and graduate into their own laboratories. These alumni companies raised over $178 million in 2015 and have grown to occupy over 90,000 square feet of Massachusetts laboratory real estate. Their departure made space for more resident companies who added nearly 100 new jobs to the economy. Learn more about how our companies are fueling their growth and the services that LabCentral provides to help them along the way.
2014 Impact Report – In our first year, LabCentral resident companies and their 110 employees raised over $200 million in venture capital funding. Read more about our offerings and the accomplishments made by these companies all while they consumed a tremendous amount of caffeine.