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  • Writer's pictureConnar Stratton

Startup Idea #12: Co-working Wet Lab spaces

Updated: Dec 21, 2022

Idea: Co-working Wet Lab spaces, co-funded by Pharmaceutical SMEs.

Problem: Startups and SMEs cannot afford to build their own wet lab, so their only options are to approach a university or larger research body potentially leading to a loss of control over their business and research.

Insight: Not yet. This idea is still very early

Validation method: Reach out to a few small pharma companies, and startups through LinkedIn and ask if they're willing to co-invest into a small lab. If they are interested to have a meeting and invest, then you've got your validation.

Notes: Ideally, you would be able to understand wet labs, their needs, expenses and how to manage them. That way you can make sure you create the right financial model in order to stay profitable. Otherwise, the validation is the biggest hurdle to the business. It's almost like fundraising. So not fun. The other way to approach this idea is by fundraising the money from general investors and creating a wet lab co-working space. This has far more risk, and is harder.

Why am I doing this? I’m an innovation consultant who helps businesses build new products, and ventures. And I want people to see how easy it is to build, and validate an initial business idea. Hopefully inspiring them to start their own business.

Am I worried that people will take the ideas? I hope they do. These ideas will hopefully make the world a better place. Just remember, “Ideas are cheap. Execution is everything”. What’s most likely is that within a month of testing the idea, the idea would have completely pivoted, but this is a starting point.


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