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New Biotech Facility Will Lead Gainesville Innovation

New Biotech Facility Will Lead Gainesville Innovation

New Alachua biotech facility to open in 2022

The number of startup biotech companies and advancing technologies in Alachua County continues to grow. In a field where innovation is limitless, the need for space to grow these startup companies is increasingly important.

A new facility will soon provide this space for startups to grow, expanding the Gainesville research field and economy alongside it.

Concept Companies plans to open Momentum Labs to provide space for startup biotech companies to expand in Gainesville. Startups can lease basic lab equipment from Momentum Labs rather than buying it up front, which better enables them to reach their potential.

“Our solution, Momentum Labs, will take down some of the barriers so many young companies have difficulty overcoming,” said Brian Crawford, CEO of Concept Companies. “This will also increase the likelihood of these businesses remaining local and adding jobs to our area, especially as they get to that next stage of commercialization.”

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The initial site will be approximately 60,000 square feet and can expand significantly in the future if the need arises. The building will be within Alachua city limits, but the exact location has not been disclosed yet. Construction is expected to be complete by summer of 2022.

As a big source of revenue for Alachua County, the biotech industry has grown substantially in recent years. In 2020 alone, the industry contributed more than $1 billion to the local economy. Since 1995, the University of Florida’s bioscience incubator, Sid Martin Biotech, has helped more than 100 different biotech companies in many different fields expand to exceed expectations. There is a waitlist of entrepreneurs to work with Sid Martin Biotech, which illustrates the field’s potential for continued growth in coming years.

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