Investment from Brown to support Rhode Island’s first life sciences startup incubator

PROVIDENCE, R.I. [Brown University] - As the Rhode Island Life Science Hub prepares to open the state's first commercial life sciences startup incubator, Brown University will play a critical role by providing nearly 30,000 square feet of leased space as a home for the facility at no cost.

Brown's investment to support the launch of Ocean State Labs is valued at $13 million over 10 years.

On Wednesday, Dec. 4, the Rhode Island Life Science Hub finalized an agreement with Ancora L&G to create the incubator at the under-construction 150 Richmond St. building in Providence's Jewelry District. Brown committed, through a separate agreement with the hub, to provide laboratory space, which it had pledged to lease to help make the Ancora-led life sciences development project a reality, at no cost.

When it opens, Ocean State Labs will provide critical infrastructure to support early-stage biotechnology and medical companies in Rhode Island as they grow and bring their discoveries to the marketplace. The Rhode Island Life Science Hub will invest up to $10 million to create the incubator, covering construction, project management and other startup costs. The I-195 Redevelopment District Commission will contribute up to $1 million toward its construction as part of a broader effort to support life science infrastructure and attract new startups to Providence.

For Brown, partnering with the hub to offer space for Ocean State Labs builds on a commitment to supporting projects that contribute to the economic vitality of the city and state. Brown President Christina H. Paxson said the University's investments will advance a vibrant hub for health and medicine by catalyzing local life sciences and biotechnology ventures, many of which originate from research on Brown's campus.

"Investing in Rhode Island's first commercial life science incubator will unlock new possibilities for world-class researchers at Brown and other local institutions to turn their biomedical discoveries into enterprises," Paxson said. "This will strengthen the state's growing presence in the life sciences, spark local economic growth, and help turn research breakthroughs into commercial ventures that make a positive impact on the health of Rhode Islanders."

The planned facility will feature a mix of private and open lab spaces, co-working areas and cutting-edge technology designed to support up to 30 local startup companies. Neil Steinberg, chairman of the hub's board of directors, said the launch will mark a turning point for the growth of the life sciences sector in the region.

"The development of the Ocean State Labs is a pivotal moment for the growth of life science companies in Rhode Island," Steinberg said. "The incubator will provide critical infrastructure that will bring ideas to reality, accelerate groundbreaking discoveries that can directly improve people's lives and fulfill one of the primary objectives of the legislation that created the hub. We appreciate all the partners in the public and private sector who made this opportunity possible."

The 212,000-square-foot, seven-story Richmond Street building that will house Ocean State Labs will include a new State of Rhode Island's public health lab on its lower floors, with the upper floors dedicated to commercial laboratory space (PVD Labs). Ocean State Labs' proximity to the state health lab, Brown's Warren Alpert Medical School and School of Public Health, and the University's hospital partners is expected to encourage collaborations within the startup community, accelerating the transformation of scientific discoveries into real-world applications that improve patient outcomes.

Ancora L&G CEO Josh Parker said that by working together, the hub, Brown and Ancora can establish a robust foundation for innovation and entrepreneurial growth across the city and state.

"We are thrilled to partner with the State of Rhode Island, the 195 Commission and Brown to establish the state's first full-service incubator infrastructure," Parker said. "This initiative, coupled with PVD Labs, represents a major step forward in fostering life science innovation, supporting entrepreneurs and driving economic growth across Rhode Island. Together, we're creating an ecosystem where bold ideas can thrive and transform into impactful ventures."

Construction of the incubator is expected to be complete by the end of 2025.

"Ocean State Labs is a pathway to growing the life science sector across Rhode Island," said Rhode Island Gov. Dan McKee. "Thanks to a strong private-public partnership, this state-of-the-art facility will support innovation and positions Rhode Island as a leader in this key industry."

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