Following the prior announcement of the free Dumbo wi-fi last week, Mayor Michael R. Bloomberg, Brooklyn Borough President Marty Markowitz, the New York City Economic Development Corporation (NYCEDC), Polytechnic Institute of New York University (NYU-Poly), and Two Trees Management today announced a new City-sponsored business incubator to support the development of technology startup businesses in Brooklyn. The DUMBO Incubator, located at 20 Jay Street – one block from Brooklyn Bridge Park – will accommodate technology entrepreneurs in the downtown Brooklyn neighborhood and across New York City over the next three years and is expected to be fully operational by the fall of 2011. NYCEDC provided a $250,000 grant to establish the incubator, the ninth sponsored by the City as part of a plan to encourage entrepreneurship within a variety of economic sectors. NYCEDC President Seth W. Pinsky and Tucker Reed, Director of Special Projects at Two Trees Management Company, announced the DUMBO incubator during an Internet Week NY panel on the City’s “Digital Corridors.”
Dumbo will be the ninth incubator in NYC and NYU-Poly signed a three-year lease for 6,440 sqft with Two Trees Management. The Incubator space will provide approximately 30 dedicated workstations, and additional co-working stations, targeted to New York City-based startup businesses and entrepreneurs across various industries, including financial services, media, green, bioscience, and fashion, with a focus on technology. Tenants will be able to access educational programming and services, such as business counseling sessions, workshops, and networking events on relevant topics. Two Trees principal Jed Walentas noted that “Many of the startup businesses in DUMBO such as Etsy, Carrot Creative, Huge, Brooklyn Digital Foundry, Big Spaceship, and SawHorse Media, which hosts the annual Shorty Awards for best Twitter content, have grown tremendously, while other digital and creative businesses continue to be drawn to our ‘state-of-the art’ community.” This is great news for Digital Dumbo and New York Digital District.
(note: Sawhorse Media is no longer in Dumbo. However, the Shorty Awards did start in Dumbo and founder Gregory Galant is still involved in the Dumbo tech community.)
Read the full press release in PDF format here (153kb).