DETROIT--(BUSINESS WIRE)--Newlab, an innovation platform for deep tech startups, announced the appointment of Cameron Lawrence as its new Chief Executive Officer, effective immediately. With his extensive background working in the technology sector and a proven track record of strategic leadership, Lawrence is set to lead Newlab in its mission to tackle climate change by supporting deep tech solutions across energy, mobility and materials.
Climate change is the most critical challenge facing the world, and existing models for scaling innovation often fall short. Deep tech companies have the potential to provide groundbreaking solutions, but these startups in particular experience a daunting 90% failure rate. One challenge is that an overwhelming majority of deep tech startups are founded by PhD candidates that eventually lose access to the technology and systems academic institutions provide. Newlab bridges this gap and offers the critical infrastructure they need to succeed.
"We’re not going to solve climate change with one breakthrough technology. It’s going to take thousands of founders with amazing ideas to create the sea change we need. Now, the Inflation Reduction Act has created a once-in-a-generation infusion of money to tackle the climate crisis,” said Lawrence. “We need to be the best stewards possible of this historic influx of capital and Newlab is ready to use that capital to help founders succeed and make an immediate impact on our planetary health. As a founder myself, I’m familiar with the unique obstacles startups face and how to navigate around them. We have an incredible opportunity to bring about meaningful progress by scaling ‘sure-shot’ innovations through The Newlab Method.”
The Newlab Method creates place-based startup communities that promote economic development, reduce friction for founders, and therefore increase startup success rates. To date, Newlab has cultivated a combined value of $8.5 billion with over 300 member startups, 55 industry partners, and launched nearly 100 technology pilots. Newlab's approach focuses on breaking down the four key barriers for these startups: access to customers, access to capital, access to infrastructure, and regulatory pathways. Specializing in public-private partnerships, its unique approach provides the infrastructure for world-changing ideas to scale to real-world implementation.
Cameron Lawrence brings a wealth of experience to his new role with expertise helping smaller companies scale to reach impact and helping larger companies effectively embrace innovation. Prior to Newlab, he served as Chief Financial Officer at GNC, where he facilitated their tech transformation and ecommerce expansion. He was previously the Chief Executive Officer at PNI Digital Media, and advanced an operational overhaul that led to the company’s acquisition by Staples. Cameron’s background also spans biotechnology and other science-driven industries with roles at PwC and as Chief Operating and Financial Officer at Ondine Biomedical Inc. His unique blend of financial acumen and operational expertise positions him perfectly to lead Newlab into its next phase of growth.
For more information about Newlab and its new CEO, please visit https://www.newlab.com.
Newlab creates the conditions for world-changing ideas to become real-world solutions. Through its community of startups, applied innovation programming, physical infrastructure, and direct investment, Newlab helps commercialize and scale the critical technologies needed to decarbonize the economy. Today, Newlab includes more than 1000 entrepreneurs, partnerships with forward-thinking corporate and civic entities, and a network of active investors—all working together to scale deep tech. To date, Newlab has supported its 300+ member companies in raising over $2B in capital from 260 venture capital firms, with over $1.8B of successful exits and a collective valuation of over $8.5B. Visit www.newlab.com to learn more.