NYU-Poly and the City of New York launched the Varick Street Incubator in SoHo in July 2009 as part of Mayor Bloomberg’s Five Borough Economic Opportunity Plan. The incubator is an opportunity to revitalize and diversify the recessionary economy using the creative ingenuity of dynamic entrepreneurs and the technical expertise of one of the nation’s oldest engineering institutions of higher education. The incubator is also an integral component of NYU-Poly’s i2e philosophy (invention, innovation, and entrepreneurship).
The Varick Street Incubator represents an early but growing example of the power that evolves from the collaboration of entrepreneurial energy, academic knowledge, meritocracy, and forward-thinking public policy. Collectively, these factors have been proven to be a force that has the ability to change the world, one new job at a time.
This initiative was made possible through cooperation among government, higher education, and the private sector organizations including:
Polytechnic Institute of New York University manages and runs the day-to-day operations of the facility, providing access to capital, markets, and talent. The incubator is part of a larger set of technology entrepreneurship initiatives with a specific focus on global information technology, health and wellness, and urban sustainability. Founded in 1854, NYU-Poly is one of the nation’s oldest private engineering and technology schools.
The New York City Economic Development Corporation sought to jumpstart the New York City economy and promote job growth by helping to launch high-tech businesses. The incubator supports the EDC’s mission of encouraging economic growth in each of the five boroughs of New York City. To learn about other NYCEDC initiatives visit nycedc.com/SupportingYourBusiness.
Trinity Real Estate provided 16,500 square feet of prime real estate to help launch the incubator to establish subsidized, ready-to-use office space equipped with basic business amenities in the heart of the Hudson Square Business Improvement District.
Microsoft BizSpark is a global program designed to help accelerate the success of early stage startups. The new BizSpark Plus Program is an extension of the BizSpark Program, designed to provide high potential startups with additional offers, products and services from Microsoft, available through select incubators and accelerators.