The University of Texas at Austin is gearing up to contribute significantly to the life sciences field. A newly designated space that spans 10,000 square feet at Parmer Austin is in the works. The UT Impact Labs, managed under the school’s Discovery to Impact program, are being readied to serve as a launchpad for startups focused on life sciences.
This move by UT is not random but a planned strategy. As Gary Farmer, the interim CEO and chairman of Opportunity Austin, articulated that the organization is placing a high priority on targeting life sciences industry. Tailoring recruitment strategies, the company is bent on maximizing new federal investments and incentives. Farmer emphasizes the need for ample space to support the thriving life sciences cluster, whose growth has traditionally been influenced by the availability and affordability of lab spaces tailored for innovators. However, the launch timeline for the lab is still under wraps.
Adding a feather to UT’s cap, Karlin Real Estate has partnered with the university on this forward-thinking project. Clearly, this is a significant stride for Austin’s commercial real estate market too, opening gateway to specialized tenant-specific real estate in the life sciences sector.
Isn’t it amazing to see how future opportunities are shaping up? To get more accurate and timely updates on Austin’s real estate dynamics, stay hooked to our blog! Have a quick look at the original piece [here](https://www.recenter.tamu.edu/news/newstalk-texas/?Item=29842).