JLABS is coming to Shanghai! 5 things you should know about Johnson & Johnson’s newest incubator facility
More than 512 healthcare companies have “hatched” their ideas at Johnson & Johnson Innovation – JLABS (JLABS) around the globe over the last six years, securing US$11.6 billion in combined funding. Just under 90% of them are still in business or have been acquired. JLABS is bringing its know-how to Shanghai, where it aims to house new healthcare start-ups from around the world, starting in June 2019.
If you are sitting on an early-stage business idea that needs an extra push to potentially become the next big healthcare breakthrough, here are five things you should know about JLABS @ Shanghai.
- JLABS @ Shanghai is the first JLABS to launch in Asia Pacific
Opening in June 2019 at Zhangjiang Hi-Tech Park in Shanghai, JLABS @ Shanghai will be the first JLABS in Asia Pacific, and one of 12 JLABS locations globally to join New York City; Beerse, Belgium; Cambridge and Lowell, Massachusetts; Toronto; Houston, Texas; and San Francisco and La Jolla, California. The state-of-the-art facility will provide 4,400 square meters of laboratory and networking space that can accommodate over 50 life sciences and healthcare start-ups. Each site has benefits specific to the local market, but you don’t have to be a local company to be an eligible resident.
Our choice of Shanghai as the first JLABS location in Asia Pacific is recognition of the city’s position as a leading center of innovation and entrepreneurship in the region and of strong engagement in innovation from the Shanghai Municipal and Pudong New Area Governments.
The city has the highest concentration of medical R&D resources in China, including science parks, universities, medical schools and other institutions and is home to significant R&D talent. These factors, combined with subsidies to incentivize corporate research, development, and production in health care, make Shanghai an important science hub and an ideal location for our newest JLABS.
- Healthcare entrepreneurs across all sectors are eligible to apply
We are looking for the best and brightest talents who are working on the most disruptive and game-changing science of potential interest to Johnson & Johnson. Entrepreneurs across all healthcare sectors such as consumer, pharmaceutical, medical device, diagnostic and digital health are eligible to apply as a resident company at JLABS @ Shanghai. The selection criteria are:
- Compelling and credible science and/or technology
- Area of significant unmet medical or market need
- Demonstrated financial solvency
- A rock star team!
One important strategic interest for JLABS @ Shanghai is developing early-stage solutions for lung cancer, but it is not the only focus. Any innovation that resonates with consumer needs and the growing demand for quality healthcare will be considered. Other opportunities specific to China can be found in leveraging its capabilities in AI and big data in healthcare solutions.
- You need a solid network to grow your business
Being part of JLABS means being part of a robust global network of healthcare peers, innovators and mentors.
“Interacting with the other JLABS companies has provided us a global network that would have been impossible to curate on our own. We’ve been exposed to tremendous resources within the J&J umbrella – we feel like we’re part of a big biotechnology family,” said Phil Strandwitz, Co-founder & CEO of Holobiome, a JLABS company in the US.
We also aim to provide resident companies with unique insights and business acumen through access to experts across the Johnson & Johnson Family of Companies and in the local community via our global JPALS mentors, local educational programming and other networking opportunities. JLABS has organized more than 400 events in 2018 in 47 cities around the world, where companies connect with each other and with other stakeholders.
- JLABS provides all the resources you need so that you can focus on the science
JLABS is in the business of helping healthcare entrepreneurs transform their ideas into breakthrough healthcare products by empowering innovators and exposing them to an ecosystem where they can develop and nurture their healthcare solutions.
Resident companies have access to core research facilities with specialized capital equipment, educational programs, mentorships and operational capabilities.
To support the resident company’s growth, JLABS provides access to experts and valuable industry contacts through a JPALS program. This program connects companies to relevant Johnson & Johnson experts even after they leave the incubator.
“JLABS offered to continue to mentor us as alumni,” said Wendye Robbins, President & CEO of Blade Therapeutics, who took advantage of the JPALS program to connect with global regulatory experts. “Through the JPALS program, we connected with J&J’s global regulatory experts whose deep knowledge and experience is invaluable to us.”
- JLABS is truly “no strings attached”
JLABS stands by their “no-strings attached” policy, which means entrepreneurs are free to develop their idea while retaining their intellectual property. With this model, entrepreneurs are free to make business decisions based on what’s best for the company, even if that means partnering with another pharmaceutical company, or growing a commercial organization independently. This is one of the core drivers of JLABS’ success. Over the past six years, 13 JLABS resident companies and alumni have gone public.
If you are interested in joining JLABS @ Shanghai, apply to become a resident here: