Do you have multiple research projects happening simultaneously, each requiring different amounts of lab space and resources? Or are you unable to bid on the next contract due to running out of lab space? Keep reading to learn more about why renting lab space at Kinetic Labs is a viable alternative to building your own lab space. See how you can adjust your lab space to meet changing needs, allocate resources more efficiently, explore new opportunities, and avoid significant expensive upfront capital costs.
1) Flexibility to expand
Flexibility is a crucial aspect of running a successful life science company, especially when it comes to lab space. Large life science companies may experience changes in their lab space requirements due to various factors, such as shifts in business strategy, changes in project scope, or fluctuations in funding. Renting lab space at Kinetic Labs offers the flexibility that life science companies need to adapt to these changes.
For example, a large life science company may start a new project that requires additional lab space, or they may scale back on a project that no longer fits with their strategic direction. Renting lab space at Kinetic Labs allows companies to quickly and easily adjust and react quickly, without being tied to long-term leases or significant upfront costs.
Companies that build their own lab space are committed to a long-term investment in a fixed asset, which can limit both a small and large organisation’s ability to attract investment to adapt to business needs. One of the most significant advantages of renting lab space at Kinetic Labs is the flexibility and cost-effectiveness it offers. Different life science companies have unique requirements for lab space, and therefore, we provide flexible rental options including weekly hot desks, monthly and annual agreements, that can accommodate the specific needs of each company.
2) Expand your research away from the confines of a regulated environment
Expanding research away from the confines of a regulated environment in a customised lab space offers several benefits for life science companies. It allows for more creative and innovative research, greater control over the research process, a more collaborative and engaging research environment, and can help to attract and retain top talent.
You can be more creative and innovative in your research, as you are not restricted by the regulations that are typically associated with traditional regulated lab spaces. This increased flexibility can lead to more rapid innovation and the discovery of new scientific breakthroughs that may not have been possible in a regulated environment.
3) Save time
Once you have located a site for your new laboratory, the build and fit-out can become a 12 – 24-month project followed by months of training, process or plant testing. By the time 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 or they are off doing other roles.
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. Why not utilise this space to get your lab-based projects moving and have them lab ready when the new facility comes on stream?
If our ready to rent lab spaces don’t suit you, you can customise your own lab space. With all of the infrastructure listed below in place already customised laboratory fit-outs can usually happen within 6 – 8 weeks of order:
- 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
- Loading bay for large deliveries
- 365/24/7 individual logged fobbed access
- Security cameras
- Data wiring to all labs.
4) Cost saving – transform CAPEX to OPEX
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.
Rather than investing in building your own lab space, life science companies can rent lab space at Kinetic Labs. This can help save on upfront capital expenditures, allowing you to allocate your resources towards other critical areas of your business, such as research and development.
By renting lab space at Kinetic Labs, life science companies can avoid the significant upfront costs associated with building or renovating their own labs making renting an attractive and practical option.
5) Strategic location
Waterford and the South East region is a growing hub for the life sciences industry in Ireland, with several major life science companies and four national gateway research institutions located here.
In addition to the equipment and facilities at Kinetic Labs, companies can access Waterford’s internationally recognised centres of excellence for research, such as The Pharmaceutical and Molecular Biotechnology Research Centre (PMBRC), the South Eastern Applied Materials Research Centre (SEAM) and the Walton Institute for Information and Communication Systems Science (ICT) (Walton) ,co- located at the South East Technological University (SETU).
Find out more about renting lab space
At Kinetic Labs, we are committed to providing life science companies with the support and resources they need to succeed. Contact us today to learn more about how our facility can help you achieve your research and development goals.