On September 20th, the New York City Economic Development Center (NYCEDC) and Grand Central Tech (GCT) held a ribbon cutting ceremony for the official opening of a 50,000 square foot space called the Hub @ GCT. This launch is part of the city’s Urban Tech NYC initiative to assist growth stage technology companies that are working to address urban challenges.
NYCEDC in partnership with New Lab launched Hub@GCT located adjacent to Grand Central Terminal in midtown Manhattan. A second “Urban Technology Growth Hub” will be launched in Brooklyn opening up a total of 100,000 sf of space between the two facilities. As part of this initiative companies who are addressing urban challenges are offered “space, equipment, pilot opportunity and shared resources.” Corporate sponsors of the Hubs include: General Electric, Microsoft and Lowe’s.
The urban tech hubs are devoted to fast-growing clean-tech and smart city companies that have grown beyond the limits of incubators, accelerators, and other early-stage programs. NYCEDC President Maria Torres-Singer stated in a press release that “our partnership with Grand Central Tech is a win-win, helping develop innovative companies that are both creating good jobs and finding solutions to some of the biggest challenges facing cities today”.
The Hub are designed to be flexible to address the needs of rapidly growing companies. They have open workstations and modular offices designed to hold companies that consist of 10 to 120 people. The Hub@GCT already has ten growth-stage companies as members which includes iobeam and BlocPower.
The Hub@GCT announced is first Executive Director, Robinson Hernandez who recently served as the Deputy Commissioner of the Department of Small Business Services for New York City. In addition, GE and Current will be involved in the selection of cohorts.
Companies that are interested in the program may apply at www.urbantechnyc.com.
Photo: Courtesy of New York City Economic Development Corporation
