New Laboratory Space for New Discoveries

New Lab Space for Discovery to Impact to Support Life Science Startups The University of Texas at Austin and Karlin Real Estate are joining forces to launch UT Impact Labs at Parmer Austin. The 10,000-square-meter wet laboratory space will be the first off-campus location managed by the University's Discovery to Impact for lease to life science startups. UT Austin President Jay Hartzell said, "Today is a great day for the University and Discovery to Impact," and added "As a world-class research university, UT Austin is incubating ideas and discoveries and bringing them to life, enabling innovators to succeed in the global economy. Texas is poised to become the next major hub where life sciences and technology converge, with Austin at its center. I am thrilled that UT and Karlin are at the forefront of this movement and can create tremendous impact on the city and the world." Discovery to Impact commercializes discoveries from research, launching new ventures and collaborating with established businesses to accelerate new products, services, solutions and treatments, working with a team of world-class discoverers, investors, creators and entrepreneurs. Matt Schwab, founding partner at Karlin Real Estate, commented "Karlin is building a better tomorrow. We are at the forefront of innovation science facilities pushing the boundaries of what is possible, and we cannot imagine a better partner than the University of Texas at Austin and President Hartzell." In 2020, Karlin played a significant role in creating Parmer RTP, a life sciences supercluster at Research Triangle Park in North Carolina. The region was home to Duke University's Human Vaccine Institute and other major life sciences companies. Karlin redesigned this site, which was a single-user campus in the mid-1980s, and transformed it into a dynamic life sciences hub in the heart of RTP. At Parmer Austin, laboratory and office space provide customers with a rare opportunity to lease institutional-quality space in one of the country's most desirable, rapidly growing regions. This will accelerate innovation through the concentration of businesses, research institutions, incubators and accelerators in a vibrant, mixed-use environment. Gary Farmer, Chair of the Board and interim CEO of Opportunity Austin, said "Opportunity Austin is targeting the high-priority life sciences industry by adapting recruitment strategies and effectively leveraging new federal investments and incentives. But for our efforts to be effective, we need space. Historically, our ability to sustain a developing life sciences cluster has been affected by the availability and affordability of leasable laboratory space for innovators. Through partnerships with industry innovators like UT and Karlin, we will transform this region into a developing, globally competitive life sciences supercluster." The life sciences sector is a developing power center in Austin. The sector grew tenfold from 2017 to 2023, rising from 23rd largest to 10th. Over the past 20 years, Austin's economy has outperformed nearly all other major urban areas in the United States. The city's growth is one of the most significant economic expansion success stories of the past half century. Austin is currently the 22nd largest metropolitan economy and is a vibrant, globally connected region driving inclusive industrial prosperity through innovation, investment and collaboration. Source