MIAMI—As shared workspace gains momentum, University of Miami Life Science & Technology Park (UMLSTP) is serving up a unique concept in the R&D world: shared lab and office space. Wexford Science & Technology is aiming to foster collaboration and innovation among early-stage research firms.

UMLSTP has executed a lease agreement with Right Space Management to operate and manage The Miami Innovation Center, the first shared space of its kind in the Southeast U.S. and only the fourth nationwide. Boston, San Francisco, and St. Louis are home to similar facilities. Scheduled to open in July 2012, the complex will include 40,000 square feet of shared office and lab space on the first and third floors of the UMLSTP’s first building.

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