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Agenda - 03-13-2012 - 4b
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Agenda - 03-13-2012 - 4b
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3/9/2012 2:50:26 PM
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BOCC
Date
3/13/2012
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Regular Meeting
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Agenda
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4b
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Minutes 03-13-2012
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22 <br />In the third phase, the PI met with experts on the space needs of LTNC-CH affiliated companies. <br />Of the 19 people interviewed, 9 were at UNGCH and the other 10 worked in the Triangle area in <br />various capacities. The discussions served to corroborate findings, gather new information and <br />reality test recommendations. A listing of experts with their affiliation is provided in Appendix <br />C. The PI appreciates their contributions to this report but is fully responsible for its content. <br />The PI conducted interviews or received written responses from over 50 individuals in all. <br />In the final phase, the PI synthesized findings from previous stages to generate this report. He <br />also gathered additional information on entrepreneurial activities at NCSU, at American Tobacco <br />Underground and in downtown Durham and Raleigh. He wants to recognize feedback provided <br />by Maryann Feldman, Nichola Lowe and Jesse White. <br />Findings from Interviews with Principals <br />The independent companies are primarily in the areas of life science or information technology. <br />The life-science companies are in biotechnology, pharmaceuticals or medical devices. The IT <br />companies focus on hardware, computer services or software (business intelligence, analytics, <br />cloud computing, gaming/simulation, computer graphics, etc.). Several clean <br />technology/alternative energy/advanced materials companies and business service companies <br />were also surveyed. <br />The life-science companies need a combination of (wet) lab space and office space in the same <br />building. When funding becomes available, having up to 4,000 SF with 60-70% office space and <br />the rest as lab space is the norm. Most companies have paid $10-15/SF/year plus utilities. Lease <br />terms tend to be three years or less with renewals available. If the company grows, the principals <br />seek space in the 10-20,000 SF range at rents below $20/SF/year. Lease terms are three years or <br />longer. Rent per square foot often does not increase much since rents for smaller spaces are <br />more than rents for larger spaces on a square-foot basis. <br />Several biotech startups were satisfied with the incubator space they occupied in Durham or <br />RTP. The First Flight Venture Center has 16,000 SF of office and lab space for up to 25 <br />companies. The space is flexible and affordable but has inadequate plumbing and no HVAC <br />after hours. NCSU's Centennial campus offers excellent space, but the space is far too <br />expensive for most startups. The Hamner Institute selected one of the companies which is <br />currently in their RTP accelerator facility. Alexandria Real Estate Equities' facility on Kit Creek <br />Road serves several others. The Leggett & Meyers building across from Brightleaf Square <br />provided cheap, bare-bones space for several companies in the 1990s. <br />Office space with specialized features and flex space is the most useful type of space for life- <br />science companies that are growing. Several companies occupying flex space had taken on <br />another bay in the same building or had taken advantage of ceiling height to create mezzanine <br />19 <br />
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