What Innovation Space does

Innovation Space is a 501(c)(3) nonprofit science startup incubator and accelerator founded in 2017 and headquartered on DuPont's Experimental Station campus in Wilmington, Delaware. The organization operates more than 130,000 square feet of multi-use laboratory space across 90+ labs, equipped with over $10 million of shared scientific instrumentation spanning biotech (flow cytometers, PCR systems, cell culture facilities, microscopy) and chemistry and materials characterization (NMR, FT-IR, HPLC, GC-MS, SEM, XRD, particle size analysis). Its primary customers are early-stage science-based startups in life sciences, clean tech, and advanced materials that require capital-intensive laboratory infrastructure, mentorship, and seed funding to advance from bench to commercialization. Since inception, Innovation Space has supported more than 156 startups, which have collectively raised over $1.24 billion in follow-on capital and contributed to 2,490 jobs nationwide.

The organization offers an integrated portfolio of products and services built around facility residency. Core programs include The First Fund, a convertible-note investment program deploying up to $240,000 per startup in cash plus in-kind lab and services; the Early Stage Growth Grant (EGG), providing up to two years of private laboratory space plus business-building support; Spark Factory, a free virtual mentorship pitch event; and the Science Inc. accelerator, a 14-week hybrid program restructured in 2026 into sector-specific Life Sciences and CleanTech & Materials cohorts. Supporting these are tiered lab space rentals (Lab Pods through Lab Suites), shared equipment access, and curated events. Distribution is community-led, with prospective residents scheduling facility tours, applying to funding programs online, and engaging through partnerships with founding stakeholders DuPont, the University of Delaware, and the State of Delaware, plus a 2025 strategic addition of International Flavors & Fragrances (IFF).

Innovation Space's revenue model blends recurring lab rental income from resident startups, transaction-linked returns from First Fund convertible notes, federal and state grant funding (including a $750,000 Build to Scale Capital Challenge award in 2023), and in-kind and financial support from strategic corporate and academic partners. Pricing for lab space and programs is quote-based and not publicly disclosed, with bundled First Fund package values ranging from approximately $60,000 to $240,000 per startup. The organization is governed by a multi-stakeholder board including representatives from DuPont (Marty DeGroot), the University of Delaware (Kelvin Lee), the State of Delaware (Kevin Myers), and IFF (Casper Vroemen), and is led by President and CEO William D. Provine, Ph.D., alongside a management team drawn from DuPont, ExxonMobil, Cleveland Clinic Innovations, and Ben Franklin Technology Partners.

Name

Innovation Space

Legal name

Delaware Innovation Space, Inc.

Website

https://innovationspace.org

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Innovation Space is a 501(c)(3) nonprofit science startup incubator operating 130,000+ sq ft of multi-use labs in Wilmington, Delaware, serving early-stage life sciences, clean tech, and advanced materials startups with shared equipment, convertible-note funding, accelerator programs, and mentorship.

Ownership category

akta.pro rank

Product category

Science Startup Incubator and Accelerator

NAICS

Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology) (541715)

SIC

Laboratory Apparatus & Furniture (3821), Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

akta.pro secondary industries

Corporate Accelerators & Startup Programs (FSANAHAD), Science & STEM Lab Equipment & Supplies (Chemistry, Biology, Physics, Makerspaces) (EDAEAIAC), Makerspaces & Fab Labs (Open Build Studios) (EDAMADAC), Technical Universities with Entrepreneurship & Incubation Focus (EDAHAEAH)

Keywords

• Science startup incubator
• Laboratory space rental
• Startup funding programs
• Life sciences accelerator
• Clean tech incubation

Headquarters

HQ city

Wilmington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Lab Space Rentals: The organization generates revenue through leasing laboratory space to science-based startups. They offer various lab configurations including Lab Pods (teams of 2-3), Half Labs (teams of 4-5), Full Labs (teams of 6-8), and Lab Suites (teams of 8-10). The facility provides flexible lease terms with 24/7 access.
2. Investment Returns (The First Fund): The First Fund provides up to $240,000 in convertible loans to early-stage startups in the form of cash ($30,000-$120,000) plus valued laboratory/office space and support services ($30,000 or $60,000). The investment is structured as a convertible note with 20% conversion discount, $5M valuation cap, 36-month duration, and 8% simple interest rate. Returns come from conversion of notes upon qualifying financing rounds or exits.
3. Government Grants & Federal Funding: As a 501(c)(3) nonprofit, the organization receives federal grants such as the $750,000 Build to Scale Capital Challenge grant from the US Department of Commerce's Economic Development Administration. These grants support programs like the First Fund Investment Program.
4. Strategic Partnerships & Sponsorships: Partnerships with major corporations (DuPont, IFF, University of Delaware) and the State of Delaware provide operational support, resources, and potential sponsorship revenue for the nonprofit organization.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

The Innovation Space is a 501(c)(3) nonprofit incubator and accelerator providing science-based startups with state-of-the-art laboratory space, shared scientific equipment, and integrated funding programs. It leases 130,000+ square feet of multi-use lab space in flexible configurations (Lab Pods through Lab Suites) on DuPont's Experimental Station campus in Wilmington, Delaware, and offers funding (The First Fund convertible notes up to $240,000; Early Stage Growth Grant), mentorship (Spark Factory), and a 14-week hybrid accelerator (Science Inc.) for early-stage life sciences, clean tech, and advanced materials startups.

Product overview

The Innovation Space is a multi-dimensional resource-rich entrepreneurial innovation ecosystem (501(c)(3) nonprofit) offering science-based startups access to state-of-the-art lab space, scientific equipment, funding programs, and business support. The core offering consists of: The First Fund™ (investment program providing up to $240K in convertible loans), the Early Stage Growth Grant (up to 2 years of private lab space), Spark Factory™ (virtual mentorship program), and Science Inc.™ Accelerator (14-week sector-specific cohort-based accelerator). Supporting these are specialized lab spaces for Life Sciences and Clean Tech, plus access to shared scientific equipment including biotech tools (flow cytometers, PCR systems) and chemistry equipment (NMR, HPLC, SEM). Startups must become residents of the Innovation Space to access most programs.

Differentiator

Problem solved

Functional benefit

Brands

• The First Fund™: Investment program providing up to $240,000 of pre-seed and seed capital to deep tech companies in life sciences, clean tech and advanced materials.
• Early Stage Growth Grant (EGG)
• Spark Factory™
• Science Inc.™ Accelerator

Products and services

• The First Fund™
• Early Stage Growth Grant (EGG)
• Spark Factory™
• Science Inc.™ Accelerator
• Lab Space
• Life Sciences Lab Space
• Clean Tech & Advanced Materials Lab Space

Quantifiable outcome

• Portfolio companies have raised $1.24B in cumulative funding since 2017
• +4 more outcomes

Named customers21 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• International Flavors & Fragrances (IFF)coreStrategic or Co-development Partner · 2 July 2025Global fragrance and food company partnered with Innovation Space to accelerate Delaware's biotech innovation ecosystem. IFF's Chief R&D Officer (Casper Vroemen) serves on the Board of Directors. Partnership provides industry expertise, potential corporate partnerships, and commercialization pathways for portfolio companies.
• Econsult Solutions, Inc. (ESI)minorStrategic or Co-development Partner · 1 January 2025Independent economic impact analysis firm that conducted the economic impact analysis of Innovation Space-supported companies using IMPLAN modeling system. Analysis provides credible metrics on job creation and regional economic output.
• DuPontcoreStrategic or Co-development Partner · 1 January 2017Strategic founding partner of The Innovation Space. The organization is located on DuPont's Experimental Station campus in Alapocas, Delaware. DuPont's Chief Technology and Sustainability Officer (Marty DeGroot) serves on the Board of Directors. The partnership provides access to DuPont's experimental facilities, research expertise, and industry connections.
• University of DelawarecoreStrategic or Co-development Partner · 1 January 2017Strategic founding partner with representation on Board of Directors (Kelvin Lee, Institute Director NIIMBL; Miguel Garcia Diaz, Vice President for Research). The partnership provides academic research connections, student talent pipeline, and university ecosystem integration.
• State of DelawarecoreStrategic or Co-development Partner · 1 January 2017Strategic founding partner with representation on Board of Directors (Kevin Myers, Deputy Chief of Policy). Provides economic development support, state funding programs, and regulatory navigation assistance for startups.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• MBC BioLabs: San Francisco and San Carlos-based shared lab space operator for biotech startups offering co-located lab benches, equipment access, and an entrepreneurship community — operates a near-identical business model to Innovation Space's lab rental + community platform.
• BioGenerator: St. Louis-based nonprofit life sciences venture studio and startup incubator that combines lab infrastructure, founder support, and pre-seed/seed funding — directly comparable to Innovation Space in mission, structure, and offering mix.
• Alexandria LaunchLabs: Alexandria Real Estate Equities' startup incubator platform providing turnkey lab space, shared equipment, and strategic capital to early-stage life science and technology startups — same shared-lab + capital hybrid model.
• Greentown Labs: Somerville, MA-based cleantech startup incubator providing shared prototyping lab space, equipment, and a venture-track program — closely comparable to Innovation Space's CleanTech & Advanced Materials vertical and lab-access business model.
• Biolabs: Network of shared biotech laboratory coworking spaces (originally independent, now consolidated under BioInnovation Labs) — direct peer offering shared lab infrastructure and community to life science startups in multiple US and European cities.
• The Engine: MIT-affiliated tough-tech incubator that provides shared lab/fabrication space, capital, and operating support to science-heavy startups in advanced materials, energy, and biotech — directly comparable as a nonprofit/impact-aligned deep-tech incubator with lab access.

Broad incumbents

• JLABS (Johnson & Johnson Innovation): Johnson & Johnson's global network of life science incubators offering no-strings-attached lab space, equipment, and mentorship to biotech startups — broader portfolio but overlapping incubator value proposition and lab-as-a-service model.
• CIC (Cambridge Innovation Center): Large multi-city operator of shared coworking and laboratory spaces for startups and innovation teams — comparable on the shared-infrastructure business model but broader in customer base (includes enterprise and government, not exclusively science startups).

Emerging players

• IndieBio: SOSV-operated biotech accelerator providing lab access, mentorship, and pre-seed funding to biology-driven startups — comparable accelerator/funding model though IndieBio's model is shorter-cohort and more software-like.

Regional players

• UPMC Enterprises: Pittsburgh-based commercialization arm and venture arm of UPMC providing lab infrastructure, investment capital, and operational support to health and life science startups in the Mid-Atlantic — regional peer with comparable mission and incubator-style offering.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/innovation-space
• Xx.com/de_innovates
• Facebookfacebook.com/TheInnovationSpace

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Innovation Space