New Lab Space for Discovery to Impact Will Support Life Science Startups

AUSTIN, Texas, Sept. 6, 2023 /PRNewswire/ --  The University of Texas at Austin and Karlin Real Estate are teaming up to launch UT Impact Labs at Parmer Austin. The 10,000 square foot wet lab space is the first off-campus site for the University's Discovery to Impact, which will manage the space for lease to life science startups. 

"This is a great day for the University and Discovery to Impact," said President Jay Hartzell. "As a world-class research university, UT Austin incubates ideas and discoveries, and brings them to life by enabling innovators to succeed in a global economy. Texas is poised to become the next major hub for the convergence of life sciences and technology, with Austin at the epicenter. I am thrilled that UT and Karlin can be at the forefront of this movement and make an enormous impact on the city and the world."

Discovery to Impact brings research discoveries to the marketplace. Working with world-class inventors, investors, creators, and entrepreneurs, the team launches startups and collaborates with established businesses to accelerate new products, services, solutions, and cures.

"Karlin is building for a better tomorrow. We are at the forefront of innovation science real estate that pushes the boundaries of what's possible," said Matt Schwab, co-founder of Karlin Real Estate. "I can't think of a better partner in this work than The University of Texas at Austin and President Hartzell."

In 2020, Karlin played an important role in the creation of a life sciences superhub in Research Triangle Park in North Carolina called Parmer RTP. This site was anchored by Duke University's Human Vaccine Institute and other major life sciences companies. Karlin reimagined and transformed what was once a single-user campus from the mid-1980s into a dynamic life sciences center at the heart of RTP.

In Austin, Parmer provides laboratory and office space, giving clients the rare opportunity to lease institutional quality space within one of the most coveted, rapidly growing regions in the country. This will accelerate innovation through a concentration of businesses, research institutions, incubators and accelerators in a vibrant, mixed-use environment.

"Opportunity Austin is targeting the high-priority life sciences industry by tailoring recruitment strategies and effectively utilizing new federal investments and incentives," said Gary Farmer, chairman and interim CEO of Opportunity Austin. "For our efforts to be effective, though, we need space. Historically, our ability to sustain a thriving life sciences cluster has been impacted by the availability and affordability of leasable lab space for innovators. Through partnerships with industry innovators like UT and Karlin, we will transform this region into a thriving, globally competitive life sciences superhub."

The life sciences sector is an emerging powerhouse in Austin. It grew tenfold from 2017 to 2023, jumping from the No. 23 largest to No. 10. Over the past 20 years, Austin's economy also outperformed nearly every other urban area in the U.S. The city's growth is one of the most notable economic expansion success stories of the past half-century. Austin is now No. 22 metropolitan area economy and is a vibrant, internationally connected region that drives inclusive industrial prosperity through innovation, investment, and collaboration.

Media contact:
ECPR Texas, karlin@ecprtexas.com

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SOURCE Karlin Real Estate