PASADENA, Calif. and DURHAM, N.C., Jan. 15, 2020 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT and the first and longest-tenured owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, is holding its first national AgTech Innovation Prize competition for startup and early-stage agtech and foodtech companies that demonstrate novel approaches to addressing agriculture-, food- and nutrition-related challenges. Alexandria LaunchLabs® – AgTech, the premier platform accelerating early-stage agtech company growth, is calling for innovators who are working across an array of areas to transform the food value chain, including crop enhancement and protection, digital and data solutions, animal health, breeding and genetics, next-generation farming, and food and supply chain solutions.
Alexandria LaunchLabs – AgTech is located at the Alexandria Center® for AgTech – Research Triangle, the first and only integrated multi-tenant, amenity-rich agtech R&D and greenhouse campus, which opened in April 2019. The campus's first phase consists of 175,000 RSF at 5 Laboratory Drive in the heart of the Research Triangle, the most important, dense and diverse agtech cluster in the United States. It is currently home to a broad ecosystem of high-quality entities ranging from global to emerging agricultural companies and includes, among others, UPL Limited, Indigo Ag, Inc., Boragen Inc. The second phase of the campus will feature a 160,000 RSF development project at 9 Laboratory Drive.
"The agricultural sector represents perhaps the most critical, untapped source of opportunities to improve nutrition and advance human health at its most fundamental level," said Joel S. Marcus, executive chairman and founder of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments. "Groundbreaking advances in technology, coupled with a dramatic increase in investment, have galvanized the agricultural innovation ecosystem and yielded a surge of disruptive new companies across the agrifoodtech supply chain that have challenged conventional notions of how we grow, harvest, process and distribute food. We are pleased to offer our AgTech Innovation Prize as part of our deep commitment to fostering the next generation of leading agtech companies poised to discover and develop breakthrough innovations that are imperative for ensuring an accessible, healthy and sustainable global food supply."
The $100,000 AgTech Innovation Prize will recognize excellence in early-stage science, leadership and business strategy. The prize will be awarded to one applicant company following a multiphase selection process that culminates in an in-person pitch contest this May in Research Triangle. A judging panel comprising seasoned investors and industry experts will evaluate applicants based on the quality and differentiation of the company's technology, management team and business plan, among other criteria. The winner of the competition will receive a $75,000 cash prize, along with a one-year membership to Alexandria LaunchLabs – AgTech worth an additional $25,000. Applications are due Friday, January 31, 2020. For more details on the prize, including the application and complete rules, please visit www.alexandrialaunchlabs.com/prize.
"We are proud that we have successfully extended our Alexandria LaunchLabs platform into the agtech sector, providing high-potential early-stage agtech companies with access to our company-building resources and network of experts that have established LaunchLabs as the premier startup growth platform," said Blake Stevens, principal of Alexandria Venture Investments and head of Alexandria LaunchLabs – AgTech. "We will award our prize to a best-in-class agtech company with a bold vision and a trajectory that will be further enhanced by joining our LaunchLabs community."
Alexandria LaunchLabs – AgTech provides its member companies with highly flexible, move-in-ready office/laboratory and greenhouse space, operational mentorship, strategic programming, access to seed capital through the Alexandria Seed Capital Platform and engagement with Alexandria's expansive network. The dynamic space and experienced LaunchLabs team currently support innovative member companies utilizing cutting-edge technologies to solve critical unmet needs in human, plant and animal health.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® urban office REIT, is the first and longest-tenured owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $24.3 billion and an asset base in North America of 35.6 million SF as of September 30, 2019. The asset base in North America includes 25.4 million RSF of operating properties and 2.5 million RSF of Class A properties undergoing construction or pre-construction, with projected initial occupancy in the fourth quarter of 2019 or 2020, 4.9 million RSF of intermediate-term Class A properties undergoing or nearing pre-construction and 2.8 million SF of future development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland and Research Triangle. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science, technology and agtech campuses that provide our innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity and success. Alexandria also provides strategic capital to transformative life science, technology and agtech companies through our venture capital arm. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns and greater long-term asset value. For more information, please visit www.are.com.
About Alexandria LaunchLabs
Alexandria LaunchLabs is the premier, full-service startup platform designed to dramatically accelerate the growth of early-stage life science and agtech companies. With operational life science sites at the Alexandria Center® for Life Science in New York City and the Alexandria Center® at One Kendall Square in Cambridge and an agtech site at the Alexandria Center® for AgTech in the Research Triangle, Alexandria LaunchLabs provides move-in-ready office/laboratory space, first-class support resources, shared equipment and services, creative amenities and access to startup capital through the Alexandria Seed Capital Platform to drive life-changing innovation. Alexandria LaunchLabs is currently accepting applications for future members in Cambridge, Greater Los Angeles, New York City, Research Triangle and Seattle. For more information, please visit www.alexandrialaunchlabs.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements regarding Alexandria's planned further development at the Alexandria Center® for AgTech – Research Triangle campus and the impact of the Alexandria LaunchLabs® platform. These forward-looking statements are based on Alexandria's present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by Alexandria's forward-looking statements as a result of a variety of factors. All forward-looking statements are made as of the date of this press release, and Alexandria assumes no obligation to update this information. For more discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated in the Company's forward-looking statements, and risks and uncertainties to the Company's business in general, please refer to the Company's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q.
CONTACT: Sara Kabakoff, AVP – Corporate Communications, (626) 788‑5578, skabakoff@are.com
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