For early-stage life sciences startups in Puget Sound, finding an incubation environment is difficult. Demand for this type of space in the region has outpaced supply for years, creating an additional layer of challenges for founders looking to start a company. As if the stakes aren’t high enough, current economic and supply chain headwinds have become an additional obstactle for tenants. When a startup is given the opportunity to incubate in a space that provides necessary infrastructure, equipment, learning, mentoring, networking and flexibility, it can help turn the seed of an idea into an industry game-changer.
CoMotion Labs, a life science incubator at the University of Washington is one of two in Seattle that provides just that (the other being Alexandria’s Launch Labs). The success of this incubator can be summed up by looking at their past and present roster; notable spinouts include startups like PvP Biologics, Parse Biosciences, Curi Bio, Athira Pharma, Alpenglow Biosciences, and AltPep. Others slated to “graduate” in 2022 include A-Alpha Bio, Monod Bio, and Anavasi Diagnostics.
When companies outgrow an incubation space like CoMotion Labs (or a similar incubator), they inevitably seek the following: something larger to accommodate current and future headcount, something more custom to reflect the company’s culture, and a space of their own versus a shared work environment. This is where things can get complicated.
Many life science startups end up leasing more space than they need in the short-term to hedge against the possibility of landlocking themselves without enough space for the future and to avoid numerous buildouts. Multiple moves over a short period of time can be costly and disruptive.
Lead times for tenant improvement buildouts and equipment delivery are also creating challenges. Supply chain issues, specifically during the peak COVID-19 months, put tremendous strain on the ability to deliver a fully functioning and compliant new lab, including office equipment, in a timely manner. High demand and shortage of labor for contractors with lab buildout experience has also been an issue.
Assembling the right team at the outset of a search for a new location is vital to managing timing expectations and risks of further delay. This team should include an architect and a project manager who has substantial life science buildout capabilities.
The life sciences sector will continue to grow and evolve in the coming years with research and development spending expected to reach $213 billion nationally by 2024. This will drive the demand for lab and office space higher, requiring more real estate solutions for young, emerging, and mature companies.
The future for Puget Sound life science companies is bright – the sector has strong fundamentals, an abundance of talent, innovation, and prime real estate. Capitalizing on this opportunity and ensuring the continued growth of the local sector can be bolstered with early support of entities like CoMotion and by assembling the right team to determine how to grow a physical presence beyond the incubator phase.
 Uly Rivera is the senior manager of the University of Washington’s CoMotion Lab’s life science incubator. |
  Blair stern and Rob Nielsen are in the Seattle office of JLL where they represent tenants with requirements in Puget Sound and beyond. |
