New York City. One of the most vibrant places on earth. Home to Wall Street, Fashion Week, Times Square, and next week on Thursday, June 21, JLABS @ NYC. We are very excited to be jumping into the bustling New York biomedical ecosystem, and not just because Robert Wood Johnson founded Johnson & Johnson in New York way back in 1886. New York City itself is already an established nucleus for the life sciences industry with the largest concentration of academic institutions in the world and 7% of all post-doc scientific researchers are based at New York City universities. Today, New York boasts the largest bioscience workforce in the country working at more than 120 companies and is the second largest recipient of NIH awards (at $1.4 billion) after Boston. More importantly, investment in this sector is only expected to grow.
But while the opportunities the Big Apple’s biomedical market presents are attractive, the challenges to innovation and commercialization in this region make it ripe for the unique model of JLABS to enhance the conversion of technologies into impact for patients and consumers.
Driven by key influencers such as the adoption of wearables, we as consumers are more empowered to own and care for our health. Likewise, for our healthcare providers, the marriage of tech and healthcare also has tremendous potential to improve the many aspects of patient care from diagnosis, through treatment, to recovery, and even help loved ones and caregivers along the way. Most importantly, in an industry that is burdened with the high cost and extended timelines of generating new treatments for patients, utilizing technology in the development process can dramatically speed up and lower the costs of new solutions for people all over the world.
However, given our industry is highly-regulated and deeply complex, change is still slower than we would like. Therefore, to support bringing great ideas from bench to bedside, JLABS @ NYC is dedicated to bridging this gulf between tech innovation and life sciences. Our model is specifically designed to help life science entrepreneurs gain access to the facilities, equipment, mentors, experts, resources and experiences they need to bring their companies forward.
To that end, JLABS @ NYC will be a 30,000-square foot facility housed in the already established biotech research hub, the New York Genome Center. JLABS @ NYC will have capacity for up to 30 life science startups, and will have both wet and dry lab space, as well as hot desks. We’ll have the capacity to support all sectors of healthcare including consumer and health tech, biopharma and medical device. As with other JLABS locations across the globe, we’ll provide an array of resources through the JLABS model that emphasizes scalability from a humble 5ft bench to a 5,000 ft core research lab filled with latest specialized equipment. Our partnerships with these companies, as at all other JLABS, will be no-strings attached. Johnson & Johnson takes no equity or IP from them along the way, and they are under no obligation to do business with us when their tenure at JLABS ends. At JLABS, our priority is for those new innovations reach the people who need them.
At this very moment, someone has just received heartbreaking news and she’s hoping there’s an elite team of people who are fighting for her today; that their solutions will be there for her today, not 10 years from now. We have no doubt the scientists and the entrepreneurs of NYC, famous not only for their talent, but their grit and their determination, will be the hope, the heroes she’s wishing for….