Under the agreement, LSI will operate, manage, promote and market the co-working lab located at Elementum, One-North. LSI will also provide management and consultancy services for the business.
According to AcroMeta, the proposed project will triple the size of LSI’s co-working lab space operations in Singapore. The operations at Elementum will also be able to attract companies that require larger spaces for research and development (R&D). It will also enable LSI’s existing customers who want to expand their R&D activities to do so.
“Biomedical sciences is an integral part of Singapore’s future economy with its focus on high value-add industries. Co-working laboratory spaces allows small- and medium-sized enterprises (SMEs) and startups to kickstart their R&D without incurring initial high capital expenditure (capex). There is a rising number of SMEs and startups needing coworking laboratory spaces with specialized infrastructure to conduct their R&D to bring their innovative products to the market. That is where LSI comes in,” says Levin Lee, AcroMeta’s executive chairman.
“Having a working partnership with Ho Bee Land, a well-known and established property developer, would solidify the LSI brand of co-working laboratory spaces. This will position us for international expansion of the LSI brand that we are planning, as there is demand for co-working laboratory space in major cities and industrial hubs globally,” he adds.
See also: Oiltek wins new contracts worth RM61.9 million
As at 3pm, shares in AcroMeta are trading 0.4 cents higher or 11.43% up at 3.9 cents.
