From zero to fully-functioning biotech incubator in 2 years…
May – July 2014 : Founders Llewellyn Cox and Ryan Bethencourt start meeting over coffee to work on the inexplicable paucity of startup lab space in LA – a city that produces more biology grads than any other in USA, but far fewer biotech startups than SF / SD / Boston
August 11, 2014 : Lab Launch, Inc. is founded as a nonprofit California corporation.
Fall 2014 : Business plan created, search begins for appropriate space to renovate for a biotech lab.
December 31, 2014 : IRS approves Lab Launch, Inc. 501(c)(3) non-profit status.
February – April, 2015 : Introduced to an opportunity in the City of Monrovia in the San Gabriel Valley of NE Los Angeles County. Sign lease with Samuelson & Fetter.
April 1, 2015 : Now-CEO Llewellyn Cox becomes employee #1 of Lab Launch.
June 27, 2015 : First Lab Launch – Biotech Connection-LA (BCLA) “Entrepreneurship Summit” held at UCLA
July 1, 2015 : Lab Launch takes possession of 11,000 SqFt Space, begins renovations. “Soft open” with first resident, Korva Labs, in a small area of facility that needs little immediate improvements.
July – September, 2015 : 7 Day/Week, 14 Hrs/Day renovations to create fully-functioning lab and coworking space. If it didn’t legally need a professional, we built it ourselves. Professional services (Plumbing / Electrical, etc.) funded by $20k contract with City of Monrovia.
August, 2015 : Local artist Geoff Gouveia (@goeffgouveia) paints mural in our coworking office.
September 14, 2015 : Employee #2, Marie Rippen, joins Lab Launch as Facility Director for “LabLaunch-Monrovia”.
October 6, 2015 : Grand Opening of LabLaunch-Monrovia.
November, 2015 : Shared BSL-2 Cell Culture room comes online.
April 1, 2016 : First Private lab space opens at LabLaunch-Monrovia.
April 22, 2016 : First “Monrovia Biotech Day” held – Lab Launch staff and startup founders help promote opportunities in STEM to local young people in collaboration with Chromologic , Xencor , and the Boys and Girls Club of the Foothills.
June 11, 2016 : Second annual Lab Launch – BCLA Entrepreneurship Summit at UCLA – another sellout with almost twice the attendance of 2015 event.
July, 2016 : LabLaunch-Monrovia now has 12 startups in residence (capacity ~20). 22 total full-time employees between Lab Launch and LabLaunch-Monrovia resident startups.
August 11, 2016 : Lab Launch turns 2 ! Has excellent party at Angel City Brewery in LA’s Arts District.
Q4, 2016 – 2017 : New Lab Launch incubator facilities begin to open across Los Angeles area, providing affordable, accessible lab space for biotech entrepreneurs where they can get the support and services they need to grow and thrive, while holding on to 100% of their IP and Equity.
~2020 : LA passes SF / Boston to become the #1 City for startup biotech in the world. Affordable, Investable, Scalable
And that is how you do that