Biotech is expensive and slow, especially if R&D for a proof of concept is required before developing a prototype, and even more so if you want to keep your IP. Make use of core facilities, shared facilities, and commercial biolabs whenever possible but expect to pay external rates at universities (generally 2x to 4x, and $3500/mo for commercial space). You may need some type of official lab space in order to even receive quotes on chemicals, equipment, etc. If you use a third party lab the process is extended because the third party needs to draft a letter saying you are real company.
What are some resources for Bio?
Some good labs in the Cambridge area are Cambridge BioLabs and Lab Central, and you are expected to pay for your own raw materials and consumables. Specific note: if you are working with DNA in almost any capacity, you need to make sure the lab has the appropriate license for recombinant DNA work.
If you need equipment, buy used whenever possible from eBay, Biosurplus, LabTrader, or campus labs that are closing down. As long as you have a lab space, you can almost always negotiate discounts (e.g. New England Bio gives a 40% to "new labs") or free samples, some of which may be worth $100s. When you run out of money in biotech, that is the end. Genesis DNA (GFSA Cohort 2015) stresses having enough money as a huge difference between bio and software (and some consumer hardware). You need the lab and its equipment or you can't do anything, so negotiate.