This summer, Urban Tech NYC is set to launch, offering resources and space to urban innovators focused on challenges like energy, waste, transportation, agriculture and water.
Sponsored by the New York City Economic Development Corporation (NYCEDC), two “Urban Technology Growth Hubs” will open, one at the Brooklyn Navy Yard and one near Grand Central Terminal.
The $7.2 million project will provide 100,000 square feet of space to urban entrepreneurs, aimed at creating a “new model of support for fast-growing cleantech and smart cities companies,” targeting promising projects that have already outgrown incubators, accelerators and other early-stage programs.
Beyond space to work, Urban Tech NYC’s network of programs will offer a variety of shared and individual resources. The Hub @ New Lab in Brooklyn and the Hub @ Grand Central Tech feature access to prototyping and testing equipment, local training programs, sector specific workshops and mentorship opportunities.
Mayor de Blasio says that Urban Tech NYC can be an important lever in helping the City reach its goal of an 80 percent reduction of greenhouse gas emissions by 2050. “By providing our most talented visionaries with the space and resources they need to grow,” said de Blasio, “we’re acting on our commitments to entrepreneurs, to innovation, and to a smarter and more equitable New York.”
UrbanTech NYC estimates it could support over 3,200 jobs over the next decade.
NYCEDC President Maria Torres-Springer hopes that the project will build resiliency into the City’s economy. “The rapid growth of our urban innovation sector demonstrates that building a sustainable, resilient city isn’t just smart planning — it’s smart economics.”
Funding will be scheduled over the next 10 years. The $7.2 million will be used mostly for programming, as rents will be subsidized by the Navy Yard and Milstein Properties.