Incubator space for life sciences opens its doors in Waterford City

Kinetic Labs will be available to startups to develop their products and processes

The first wet lab incubation facilities for science-based companies has opened its doors in the Southeast and well-known pharmaceutical entrepreneur Patsy Carney has been appointed director. Picture: Colin Shanahan. 

Ireland’s first private laboratory facility incubator space for the life sciences sector has opened its doors in Waterford City.

Kinetic Labs - a facility offering state-of-the-art single and shared wet lab space, office facilities, meeting rooms and a café - is available for rent to start-ups and science-based companies with all of the lab facilities needed to develop their products and processes.

The innovative new business has been created through Regional Enterprise Development Fund (REDF) grants from Enterprise Ireland and funding allocated by WorkLAB and Waterford City & County Council.

It is the first wet lab incubation facilities for science-based companies to open in the Southeast and well-known pharmaceutical entrepreneur Patsy Carney has been appointed director.

Mr Carney, who built Eirgen Pharma from scratch to a global multinational says he has a deep understanding of the needs of both start-ups and multinationals having worked “at both ends of the scale” in the fine chemicals and pharmaceutical industries.

“We know that Kinetic Labs will play a critical role in building on the capability and entrepreneurship potential of existing indigenous and multinational life science companies here in the Southeast,” he added.

“We are a region with a core cluster of life-sciences and medical device companies and have a critical mass of talent in this sector; I know that for start-ups finding affordable and flexible lab space can be a big challenge.

“Kinetic Labs offers the ideal space for those working in the industry who might be considering their own entrepreneurial journey along with spinouts from third-level universities and institutes plus the life-sciences sector, sciences, medical device, pharma, bio-pharma and even the higher-end functional food sector.

“There is great opportunity for the specialist equipment suppliers to use the space to demonstrate products to potential customers.” 

Meanwhile, he says it is his “vision” to develop a science innovation hub through Kinetic Labs.

“Any startup is a risk and you have to be prepared for that - however, to grow levels of entrepreneurship in Ireland, there is a need for more government supports and more of a cushion for entrepreneurs,” Mr Carney continued.

“Be that in the form of tax breaks or entrepreneurship relief to help reduce this risk and create an ecosystem in order to nurture entrepreneurship with the likes of Kinetic Labs, those elements are essential in order to make this happen.”