New Lab Space for Discovery to Impact Will Support Life Science Startups.
The University of Texas at Austin and Karlin Real Estate have joined forces to inaugurate UT Impact Labs at Parmer Austin, marking a significant milestone in the expansion of the University's Discovery to Impact initiative.
This newly established wet lab space, spanning 10,000 square feet, represents the University's inaugural off-campus site dedicated to the Discovery to Impact program. The facility will be available for lease to life science startups.
President Jay Hartzell expressed his enthusiasm for this collaboration, stating, "This is a great day for the University and Discovery to Impact. UT Austin, as a world-class research institution, fosters the incubation of ideas and discoveries, nurturing them into tangible innovations that empower entrepreneurs to thrive in the global economy.
Texas stands on the verge of emerging as a major hub for the convergence of
life sciences and technology, with Austin at its epicenter. I am delighted that UT and Karlin are poised to lead this movement, leaving a profound impact on the city and the world."
The Discovery to Impact program facilitates the transition of research breakthroughs into market-ready products. By collaborating with accomplished inventors, investors, innovators, and entrepreneurs, the initiative not only launches startups but also partners with established businesses to expedite the development of new products, services, solutions, and medical breakthroughs.
Matt Schwab, co-founder of Karlin Real Estate, emphasized their commitment to pioneering innovation in science-related real estate, remarking, "Karlin is dedicated to building a brighter future. We are at the forefront of innovative science real estate that challenges the boundaries of what is achievable. I can't think of a more suitable partner for this endeavor than The University of Texas at Austin and President Hartzell."
In 2020, Karlin played a pivotal role in establishing the Parmer RTP, a life sciences superhub located in Research Triangle Park, North Carolina. This hub was anchored by Duke University's Human Vaccine Institute and several prominent life sciences companies. Karlin successfully transformed a previously single-user campus from the mid-1980s into a dynamic life sciences center at the heart of RTP.
In Austin, Parmer offers laboratory and office space, granting clients a rare opportunity to lease high-quality facilities within one of the fastest-growing and most sought-after regions in the country. This concentration of businesses, research institutions, incubators, and accelerators in a vibrant mixed-use environment is expected to foster innovation.
Gary Farmer, chairman and interim CEO of Opportunity Austin, discussed the significance of this development in the context of Austin's burgeoning life sciences sector, saying, "Opportunity Austin is actively focusing on the high-priority life sciences industry by tailoring recruitment strategies and leveraging new federal investments and incentives effectively. To achieve our goals, access to space is crucial.
Historically, the availability and affordability of lab space for innovators have affected our ability to sustain a thriving life sciences cluster. Through partnerships with industry leaders like UT and Karlin, we aim to transform this region into a thriving, globally competitive life sciences superhub."
The life sciences sector is rapidly gaining prominence in Austin, experiencing a tenfold growth from 2017 to 2023, elevating its position from the 23rd to the 10th largest sector in the area.
Over the past two decades, Austin's economy has consistently outperformed most other urban centers in the United States, exemplifying one of the most notable success stories in economic expansion over the past 50 years. Austin currently ranks as the 22nd largest metropolitan area economy and serves as a vibrant, globally connected region that promotes inclusive industrial prosperity through innovation, investment, and collaboration.
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