With support from Brown and other partners, Rhode Island’s first life sciences startup incubator opens

PROVIDENCE, R.I. [Brown University] - Leaders and scholars from Brown University joined Rhode Island government and business representatives on Wednesday, May 13, to celebrate the opening of Ocean State Labs, the state's first life sciences startup incubator.

The University is among multiple organizations supporting the incubator, which will provide early-stage biotechnology and medical companies with laboratory space, infrastructure and operational support as they grow and bring scientific discoveries to the marketplace. Ocean State Labs is led by the Rhode Island Life Sciences Hub in partnership with the State of Rhode Island, the I-195 Redevelopment District, Brown and L&G Asset Management America. To help create a home for the new facility, Brown provided 30,000 square feet of leased space at 150 Richmond St. in Providence - an investment valued at $13 million over 10 years.

In remarks during the ribbon-cutting, Brown Provost Francis J. Doyle III said that in providing space for Ocean State Labs, the University is building on a commitment to supporting projects that contribute to the economic vitality of the Providence and Rhode Island. Multiple companies in the inaugural incubator cohort are ventures founded by Brown researchers working across oncology, regenerative medicine, neuroscience and other fields.

"Every person working in this building, every new tax dollar generated, and every breakthrough discovered here contributes to a Providence that is more resilient and more competitive on the global stage," Doyle said. "As a provost and a biomedical engineer, I am incredibly proud and excited about the research that will take place within these walls. But more importantly, I am proud of what this building represents - a promise kept to the City of Providence and a foundation for a future where Rhode Island leads the way in the life sciences."

Rhode Island Gov. Dan McKee said the launch represents a major step in an effort to strengthen Rhode Island's growing biotech sector. He described it as an initiative built through years of collaboration among city and state government, higher education, industry, economic development and investment partners, and cited the creation of the building that houses the incubator as as a successful partnership across sectors.

"We started here at 150 Richmond as a public-private partnership," McKee said. "We believed in building a cutting-edge state health lab in this building, and we believed it would become an anchor for life sciences companies - not only in Rhode Island, but across the region - and it has. Let's keep that momentum going."

Rhode Island Life Sciences Hub Interim President Lilia Holt called the launch a turning point for the state's life sciences sector, creating new opportunities for startups and early-stage companies to stay and grow in the state.

"Rhode Island has an extraordinary scientific and clinical talent base," Holt said. "For many years, founders and early-stage companies faced a challenge: they could discover science here, but they had to leave the state to find the infrastructure, capital and support needed to scale - Ocean State Labs helps change that dynamic. We are creating an environment where companies can launch, grow and stay here in Rhode Island."

The incubator, located on the fourth floor of 150 Richmond St. above the new State of Rhode Island health lab, is managed by Portal Innovations. In addition to fully equipped lab space, Portal provides the early-stage companies with venture development support, offering startups access to capital networks, technical expertise and industry partners.