Renting lab space allows companies to expand flexibly on their own terms, to develop R&D without the expense of building units; and for existing R&D teams to scale up, with minimal overheads.
Without the option to rent lab space the costs and constraints of not just building new lab space but also the supply of space to the life sciences and environmental technology sectors might hinder the growth of new start-ups and established businesses within Ireland.
The alternative to building expensive lab space
In January 2021, Kinetic Labs opened brand new laboratories in Waterford for start-ups and established companies in the South East requiring wet laboratory space. The laboratories constructed with funding from Enterprise Ireland’s Regional Enterprise Development Fund (REDF), Waterford City & County Council and WorkLAB are located in the heart of a thriving business community.
Kinetic Labs offers state-of-the-art single and shared wet lab space, office facilities, meeting rooms and a café on a rental basis to start-ups and science-based companies.
In a recent ‘The Science of Business’ podcast interview Kinetic Labs Director, Patsy Carney says:
“We know that Kinetic Labs will play a critical role in building on the capability and entrepreneurship potential of existing indigenous and multinational life science companies here in the South East.
We are a region with a core cluster of life sciences and medical device companies, and we have a critical mass of talent in this sector, and I know that for start-ups finding affordable and flexible lab space can be a big challenge. Kinetic Labs offers the ideal space for those working in the industry who might be considering their own entrepreneurial journey along with spinouts from third-level universities and institutes plus the life-sciences sector, sciences, medical device, pharma, bio-pharma and even the higher-end functional food sector.”
Here are our top 5 reasons why renting lab space at Kinetic Labs makes sense:
1. Save time
Once you have located a site for your new laboratory the build and fit-out can become a 12 – 24-month project. By the time that this project has finished there is a risk that your R&D team has grown to the point where your new lab no longer meets requirements.
As stated by Kinetic Labs Centre Manager, John Breen in our earlier blog post on his journey renting lab space as a start-up:
“The university were short on space and reluctant to give us our own laboratory but we eventually managed to secure a small laboratory on campus (but no office space) and came to an agreement with the university to refurbish it. That was half the battle, it took over a year to refurbish the laboratory to our specifications. We could not deal directly with the contractors but instead had to work through University Estates creating substantial delays and inefficiencies.
Once the laboratory construction had finished it was already too small.”
At Kinetic Labs there is no need to wait for a costly time and resource consuming construction project to take place before you can move in. We have fully fitted, ready to plug-in lab spaces which are available immediately.
If our ready to rent lab spaces don’t suit, you can customise your own lab space. With all of the infrastructure listed below in place already customised laboratory fit-outs can happen within 6 – 8 weeks:
- Fume hood extraction system in ceiling voids for ducted fume hoods
- Pipework for non-recirculating air regimes, with 8-18 changes per hour
- High ceilings that can accommodate large equipment (up to 6m)
- Single and 3-phase electrical supply
- Intelligent lighting system
- Secure waste storage area
- Compressed air supply system
- Fully integrated BMS system to control the internal infrastructure
- Loading bay for large deliveries
- 365/24/7 individual logged fobbed access
- Security cameras
- Secure broadband line with fast internet
2. Save money
Building and fitting out laboratory space is not just time consuming but also expensive.
Costs for building laboratory space can vary depending on the extent of fit-out, the use of the lab and whether fees and contingencies are included. In general, laboratories cost more to build and operate than standard office space. The higher building costs come from the higher specification infrastructure requirements such as ventilation, electrical, plumbing, lab furniture and equipment. With all these different factors at play, the cost of building laboratory space in Ireland can vary from €4000 to over €5000 per m2 depending on the level of fit-out.
For most start-up companies, that are heavily invested in R&D, access to funds for building their own lab space is out of reach. To overcome this, companies can rent space at Kinetic Labs where all the general infrastructure requirements are in place and an experienced team can cater to their unique and individual needs.
3. Flexible leases and lab space to meet your business requirements
Renting lab space allows companies to expand flexibly on their own terms:
- Start-ups can access a fully fitted, ready to plug-in space or space which requires very little fit-out to make it operational
- Scale-up stage companies can move from a co-working or fully serviced unit, into their own customised space
- Established businesses have an alternative to expanding their own lab space without a large investment
Kinetic Labs offers flexible lease options that can change to meet your requirements as your business grows. You may only need lab space for a short period so you can rent lab space at Kinetic Labs to take on new projects without the risk of a long-term lease.
4. Instant access to lab space, facilities and equipment
Gain instant access to lab facilities and equipment at Kinetic Labs so that you can focus your efforts on R&D activities. The team at Kinetic Labs work in partnership with tenants to ensure that companies are provided with the infrastructure and facilities they need for their growing business demands. See the full range of facilities available at Kinetic Labs.
The team behind Kinetic Labs have a vast amount of industry experience and understand the needs of companies in the chemical and life sciences area. With this knowledge, the Kinetic Labs team can support you with your equipment and facilities requirements.
5. Access to industry expertise
Being part of an environment such as Kinetic Labs gives you the opportunity to exchange information and build beneficial relationships with other professionals.
The Kinetic Labs community is an incredible network of experts in the science sector. As an established or start-up company you will have access to this wealth of industry knowledge to support your journey with:
- Networking and knowledge sharing opportunities with like-minded entrepreneurs
- Events, workshops and seminars provided by experts from the start-up community
- Introduction to private investors and VCs
- Access to business partners and mentors
- Access to advice on finance, tax, intellectual property, grants and funding opportunities
- Collaborative opportunities with WIT researchers and R&D facilities on campus
Industry experts are available to provide confidential advice at key business milestones for all companies renting lab space at Kinetic Labs.
How can Kinetic Labs help?
Finding affordable and flexible lab space can be challenging for many science-based companies. Kinetic Labs addresses this issue and provides a space where companies can rent co-working and individual lab space and facilities to develop their products and processes.
Start-ups can benefit from a fully fitted, ready to go space. While more established companies can expand their research away from the confines of a regulated environment in a customised lab space. Read more about the facilities available to companies joining Kinetic Labs.
Through renting lab space at Kinetic Labs, companies can access:
- Over 400 m2 of high-quality wet lab space with shared lab space for companies starting out and individual furnished/unfurnished facilities for more established companies
- The excellent facilities at WorkLAB including offices, meeting rooms, café and a community of established companies and start-ups
- Business and technical support centres – the Waterford Institute of Technology, PMBRC, SEAM, local IDA, Enterprise Ireland and South East Business & Innovation Centre (SEBIC) offices are all located nearby
Kinetic Labs is in a unique position in Ireland and Europe surrounded by a cluster of operations with knowledge and experience in the chemical and life science sector.
Contact us to arrange a tour and see how we can help you.