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Life science and deep tech startups will soon have the space to work on their products and services, as the city of Livermore are partnering with Lawrence Livermore National Laboratory, Sandia National Laboratories and Tri-Valley Ventures to open Daybreak Labs, the Tri-Valley’s first biotechnology incubator facility.
Without appropriate lab space, some tech-based startups often struggle to obtain government research grants and attract capital. When it opens this summer, Daybreak Labs is giving these companies tools necessary for success by offering low-cost laboratory and office space as well as a residency and incubation program, organizers said.
“Early stage life science, biotech and deep tech companies building any kind of physical device or conducting any kind of experimentation all need access to suitable lab space,” said Greg Hitchan, co-founder and managing partner of Pleasanton-based Tri-Valley Ventures.
“We are thrilled to partner with Daybreak Labs and its other sponsors to help lower the barriers for local biotech and science startups at the earliest stages — dedicated space and access to a local network of experienced domain experts is a great place to start,” he added.
Biotechnology and deep tech startups actively seeking seed through Series A investments and in need of resources, including lab and office space facilities, qualify for the residency program. Those accepted receive funding, expertise and space at Daybreak Labs in exchange for an equity investment in their company.
“We are excited to offer biotech startups an opportunity to apply to our residency program,” said Brandon Cardwell, director of Daybreak Labs and Startup Tri-Valley, executive director of i-GATE Innovation Hub. “While we continue to offer low cost lab and office space to biotech startups, thanks to the support of Tri-Valley Ventures, we are able to offer selected companies a residency program that covers space costs and some level of initial funding.”
Previously local startups needed to travel to South San Francisco, Berkeley or the Peninsula to use incubator space, but Daybreak Labs gives Tri-Valley companies the ability to stay local.
The Daybreak Labs facility will include lab space certified for biological work, office and meeting space in its 7,000-square-foot location off Southfront Road in Livermore.
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Hummm Wuhan Lab type stuff? Yippers.