The DUMBO Incubator will leverage the neighborhood's digital and tech community and expertise to offer affordable workspace and business guidance to new tech entrepreneurs and startups in the City.
Formerly a manufacturing area, DUMBO has become an established hub for New York City technology and digital media startup businesses – forming New York’s “Digital District” and “Silicon Beach,” as well as “Brooklyn’s Madison Avenue.” To meet growing demand in the area, NYCEDC has partnered with NYU-Poly and Two Trees Management to launch a tech startup incubator in DUMBO which is expected to be operational by fall 2011.
Located at 20 Jay Street, the DUMBO Incubator will cater to technology-focused entrepreneurs from across various industries, including financial services, media, green, bioscience, and fashion. Over the next three years, tenants will be able to use approximately 30 dedicated workstations and additional co-working stations, as well as access educational programming and services, such as business counseling sessions, workshops, and networking events.
NYCEDC provided a $250,000 grant to establish the incubator. NYU-Poly the facility operator leased the incubator space for 3 years from Two Trees Management, which provided the space at a discounted rate. NYU-Poly is currently the operator of the Varick Street Incubator, the first City-sponsored incubator for high-tech startups that launched in 2009.
It is anticipated that the DUMBO Incubator will open its doors in fall 2011. If you are interested in more information, along with updates on when the incubator will begin accepting tenant applications, please visit the NYU-Poly DUMBO Incubator website.