Issue link: https://tmcpulse.uberflip.com/i/425954
t m c » p u l s e | d e c e m b e r 2 0 1 4 25 in San Diego, San Francisco and Boston, they attract companies that span a broad spectrum of prospective technologies. Redefining the perceived boundaries of the phrase, 'life science,' J-Labs accepts applications from biotechnology, pharmaceutical, medical device, diagnostics, consumer and digital health companies. Working with both enthusiastic, 'rock star' startups with no prior experience and prolific, scientific CEOs, and everyone in between, J-Labs has a similarly expan- sive gamut of expertise. The unifying thread woven throughout a tapestry of diverse technology sectors and an eclectic assortment of talent? Passion. "The people who are passionate, but also have done it before, bring a certain amount of capabili- ties and competence that comes from experience, wisdom and confidence—it's very grounding for those who may not have that experience," she added. "Those who haven't done it before come in with such enthusiasm and such excitement. It's so invigorating for everyone, even those who have been around the block, to be around that sense of wonder, imagina- tion and dedication to doing things differently. That combination is very powerful, but the underlying piece beneath it all is that passion and commitment to make a difference. "We'll bring our model to the Texas Medical Center, but what's different in Houston is that we are already starting to recruit the team that will be stationed there," she added. "It'll take us about a year to get the site up and running, but we're going to start hiring the team that will be on the ground as soon as we find the right people. We want to be a part of the community so that we can start to identify the high- potential science over the year that we're building the facility." Applications for prospective companies are currently being accepted at all J-Labs sites, including the Houston incubator. of that is to say, 'You will need space depending on the resources that you have, and we want to give you an opportunity to start small and grow as you have the resources to grow.'" That philosophy of nourishment and support underlines all of J-Labs efforts to allow the science that drives these companies to bubble to the surface. An operations team allows visionaries to focus on molecular biology and digital technology rather than drowning in a cascade of licensing paperwork and equipment maintenance. Business acumen isn't exactly an inherited trait, and an on-site business ser- vices team guides entrepreneurs by providing access to education, experts and funding partners. The flagship incubator has since expanded to add a concept lab, offering single bench spaces, as well as an open collaboration office area designed to provide a high-energy space where entrepreneurs can interact and exchange ideas. J-Labs regularly holds events designed to strengthen an entrepreneur's tool kit, and is committed to expanding their presence in Houston to provide a network of support that extends beyond the walls of their new facility. "Companies come in, with no strings attached to us, and they pay for their play, which is whatever they need to help their company build the best value that they can," said Richter. "We'll work with them along the way, in terms of providing them with the things that they need to help them grow—whether it's related to infrastructure, services or expertise." "Along the way we hope to get to know each other better and help the entrepreneurs tap into the many resources we offer to help them drive their innovation forward," she added. "Eventually, if it's right for them and it's right for us, hopefully we'll do a deal together." The J-Labs network currently hosts 70 life science companies across its three active facilities. Located Aligned in both philosophy and the scope of their ambition, the overlapping values between J-Labs and the Texas Medical Center makes the partnership seem almost inevitable. "There are some really natural synergies here," reflected William F. McKeon, executive vice president and chief strategy and operating officer of the Texas Medical Center. "With the way that we set up TMCx, we don't dilute companies by forcing them to give up equity in their company, which is usually around 5-10 percent. With J-Labs, as well, they don't take any equity in the companies that they support. "We're really about creating an ecosystem here for Texas," he added. "There's no silver bullet—this is a long term strategy. A lot of people are asking, 'How many companies do you have?' The focus is not to fill it with a lot of companies just for the sake of volume—if there are only five stellar, worthwhile companies who want to be involved, then we're only going to have five companies at the start. We want to represent to the outside world, both within the Texas Medical Center and throughout the state of Texas, that a vehicle exists to propel the very best companies forward." While Houston still has yet to prove itself through a track record of commercial success, the depth of available research, wealth of talent, and variety of creative funding vehicles paint a portrait of a city brimming with possibility. "We want to be there to help make an impact," asserted Richter. "Houston has a spirit about it that made it compelling for us to come there. It has all of the critical elements that you need to think about to get bright, new solutions directly to the patients. That's what matters. We're guided by the desire to do the right thing for those patients, and that's just good business." we believe that great science is just as likely to come from outside the walls of a big company […] we want to liberate that science—we want to elevate it to have a shot at being a patient solution because the science behind it is great, rather than having it fail for other reasons. — MElInda RIchTER head of J-labs