At MBI there are no shared facility fees, maintenance fees, etc… The rent is the rent.
Due to specific needs of companies, we’ve found it more cost effective for companies to order exactly what they need and nothing more. We focus on real estate, so you can focus on SCIENCE.
MBI requests a one year lease from all of its incubator tenants to prevent continuous lab turnover. Shorter term leases are evaluated on an individual basis. If at any time, the tenant outgrows their space and needs additional space, MBI will accommodate them with additional space as available. Following the year term, MBI works with companies to provide flexible terms to assist their continued growth.
We also require that tenants add “Special Cause of Loss” insurance to their existing policies. This policy protects your equipment and science in similar fashion to a renter’s policy for an apartment building. A sample of MBI’s inexpensive insurance requirements can be found here.
An endowment fund has been created through contributions from graduate tenant companies to subsidize the rents of our current tenants. MBI seeks a voluntary 1% equity agreement from each “seed” tenant company only if the company goes public or is sold. This endowment fund allows us to keep rents low for future tenants. The fund is used solely for the future development of expanded laboratory space, shared equipment, and the continued growth and success of future life science start-ups within our incubator facility.