Sunday, 24 September 2023

Singapore's Life Science Incubator initiates building a co-working laboratory space in Australia

06 April 2023 | Company results

Signs MOU with a strategic anchor tenant for its planned Brisbane Co-Working Laboratory Space Project in Queensland

Photo Credit: Freepik

Photo Credit: Freepik

Singapore based German incubator for biotech companies,  Life Science Incubator Pte Ltd (LSI) has initiated a new project to build co-working laboratory space project in Brisbane, Queensland, Australia.

LSI has entered a non-binding Memorandum of Understanding ("MOU") with a renowned regional German commercial property management group ("GCPM") to work together on LSI's proposed co-working laboratory space the "Brisbane Project".

GCPM intends to lease and operate the co-working office area and meeting rooms within the LSI's Brisbane premises. In addition, as part of the MOU, the Parties have agreed to promote each other's facilities and services to their respective members, tenants and business network.

LSI currently operates a 6,500 sq feet co-working laboratory space at The German Centre in Singapore, serving SMEs and startups, while The German Centre operates the co-working office area and meeting rooms in the premise. This existing partnership has worked well with LSI members being able to leverage on the co-working office area and meeting rooms. The intent of the MOU is to replicate the success and synergies experienced in Singapore.

Launched in September 2021, LSI's first laboratory located at German Centre Singapore garnered healthy occupancy rates within a year of operations. Fueled by strong demand, as more companies conduct R&D to bring innovative products into the market, LSI is looking to expand in Singapore as well as in the region. The German Centre Singapore is part of a worldwide network supporting businesses by providing specialised co-working office space, advice and networking for startups and SMEs. 

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