Portal Innovations, a leading life sciences venture development engine, announced today a partnership with The NJ Innovation Hub, a cornerstone of The Health & Life Science Exchange of New Jersey (HELIX NJ), to design and manage 30,000 SF of innovation and lab incubation space in New Brunswick. Portal will help support life sciences startups and entrepreneurs from nearby research universities including Rutgers, Princeton, and NJIT, by providing them with access to fully equipped lab space, seed capital, and introductions to investors and pharma partners.
Portal Innovations is a venture development engine that invests in and supports early-stage life sciences companies. To date, Portal has helped more than 90 innovative startups grow by delivering Crafted Capital that includes seed funding, specialized equipment, lab space, and management expertise for high-potential, early-stage companies. Portal will manage the operations of the HELIX NJ incubator space and provide researchers and entrepreneurs access to world-class amenities including wet and dry lab space, cutting-edge equipment, collaborative working areas and private offices. Portal will also provide programming to ignite the ecosystem and deliver support to the entreprenuers and companies working at HELIX NJ by connecting them to its global network of investors and innovators to advance breakthrough discoveries toward commercialization.
New Jersey has always played an integral role in building startups, beginning with Menlo Park and Bell Labs, which helped established the area as an innovation corridor. The state continues to invest heavily in research – New Jersey has six established research universities, nearly 100,000 workers in the life sciences industry, and 8 of the top 10 U.S. pharmaceutical companies, helping make it a global leader for breakthroughs.
“New Jersey is the state of innovation. From life sciences to generative AI, we are building the future right here in the Garden State,” said Governor Phil Murphy. “The HELIX NJ is a hub for innovation and research, and the perfect place for Portal Innovations to place roots as they look to further their presence here in New Jersey. I look forward to witnessing the impacts of the research and discoveries that will take place in their incubator lab space.”
HELIX NJ will be an integral district in New Brunswick, providing scientists and entrepreneurs, the ability to build and collaborate. Due to the proximity of research universities and large metropolitan areas like DC, Philadelphia, NYC, and Boston, the area already has a deep talent pool of researchers, and the innovation campus and incubator space will help be a catalyst for early-stage scientific innovation.
“The HELIX is a foundational piece of Governor Murphy’s economic plan to drive New Jersey’s economy forward and support new innovations that will have an impact for generations to come,” said New Jersey Economic Development Authority Chief Executive Officer Tim Sullivan. “New Jersey has long been a national leader in the life sciences and innovation industries, and with Portal as a partner in this endeavor, we will help emerging companies bring cutting-edge technologies and inventions to the marketplace and create new jobs and long-term economic growth.”
“Portal plays a critical role in early-stage innovation by partnering with world-class universities and medical systems to provide scientific founders and entrepreneurs with access to state-of-the-art lab space, strategic partners, talent, and capital,” said John Flavin, Founder and CEO of Portal Innovations. “Our goal will always be the same – to act as a pipeline of growth for life sciences startups, enabling faster scientific breakthroughs for patients. We’re humbled to be working in New Jersey, a state that has successfully focused on innovation and drug discovery.”
“The New Jersey Innovation Hub and The Helix Innovation District has always been about accelerating discovery and innovation to develop new therapies, medicines, medical devices, and diagnostic technologies that drive expansion of the New Jersey economy and have a global societal impact,” said Christopher Paladino, President of New Brunswick Development Corporation. “Portal Innovations is the perfect partner to help create and curate an innovation ecosystem that fosters collaboration among entrepreneurs, start-ups, academic research and leading pharma and biotech companies. We are excited to get to work.”
The New Jersey Innovation Hub, Powered by Portal Innovations, will be located in H-1, the first of three buildings comprising the 1.6 million sq. ft. Innovation District of HELIX NJ. HELIX NJ is being developed by the New Brunswick Development Corporation (DEVCO) and supported by its Core Partners, New Jersey Economic Development Authority, Rutgers University, Hackensack Meridian Health, Robert Wood Johnson Barnabas Health, and Middlesex County. H-2, currently under construction, will be the new home of Nokia Bell Labs.
Portal Innovations is a venture development firm that provides seed capital, specialized wet lab space, and strategic resources to early-stage life sciences companies. With headquarters in Chicago and an expanding international footprint, Portal’s Crafted Capital model bridges the gap between scientific discovery and commercialization, helping entrepreneurs transform cutting-edge research into successful businesses.
The Health & Life Science Exchange (HELIX NJ) is 1.6 million sq.ft., state-of-the-art innovation district providing industries, universities, and entrepreneurs the critical ecosystem to research, learn, work, and collaborate. HELIX NJ will house many of the world’s most brilliant minds, projects, and organizations pursuing critical life-improving innovations that will have a global impact. Located at the midpoint of the Northeast Corridor in New Brunswick, NJ, HELIX NJ is asserting and expanding New Jersey’s leadership position in the global innovation economy.
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