The hope of the incubator is to provide more space for NYC-based companies to grow in the city. A few months in, the startups are still getting settled in, but already JLabs has cemented its place in NYCs biotech and health-tech scene.
The hope of the incubator is to provide more space for NYC-based companies to grow in the city. A few months in, the startups are still getting settled in, but already JLabs has cemented its place in NYC's biotech and health-tech scene.
FirstopenedinJune,JLabshoststartupslookingforaspacetogrowtheirbusinesses— whether that be developing drugs, coming up with new medical devices, or applying new technology to the world of healthcare. In addition to NYC, there are JLabs in San Diego, San Francisco, Toronto, Houston, Boston and Belgium as well as another planned in Shanghai.
The incubators provide J&J, one of the largest pharmaceutical companies in the world, with a front-row view of what's happening at the startup level. Though J&J doesn't take an immediate stake in the companies, it does end up investing in some in the long-run. The relationship works like this: J&J will provide all the infrastructure, operation management, network, and programming, and the startups just have to bring new and innovative ideas.
It's part of J&J's plan of looking to the future and adapting to become more nimble as it evolves for the new generation of consumers.
"We're the leading healthcare company," Kate Merton, head of the NYC and Boston JLabs, told Business Insider. "In the future we want to be the leading digital healthcare company."
Take a look inside JLabs' NYC digs, which with its coffee-shop vibes looked unlike any startup space we've ever seen.
Video: Homemade Incubator || Chicks Hatched-Result || How to Make an Egg Incubator
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