Brown University in conjunction with a variety of other organizations have helped to launch Rhode Island’s first life sciences startup incubator – Ocean State Labs.
The mission of Ocean State Labs is to supply laboratory space for early-stage biotechnology and medical companies with an anticipated end result of enhancing the growth of biotech and life sciences ventures in the state.
A celebration of the opening of Ocean State Labs was held on May 13 and attended by Rhode Island government officials as well as Brown University leaders and students. Francis J. Doyle III, the Brown University Provost, was in attendance at the official ribbon cutting and pointed out that many of the inaugural incubator cohort are enterprises working in regenerative medicine, oncology, neuroscience and other fields and founded by Brown researchers.
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In addition to laboratory space, Ocean State Labs will provide infrastructure and operational support while these companies grow and bring their discoveries to the marketplace. At 150 Richmond Street, Brown has provided 30,000 square feet of lease space, valued over the course of the next decade at $13 million. The incubator is situated on the fourth floor over the new State of Rhode Island health lab.
Ocean State Labs is equipped to accommodate up to 30 companies at a time.
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