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Dumbo Incubator/Co-Working Spot Coming in Fall, Thanks to a City, a School and Two Walentases

dumbo Dumbo Incubator/Co Working Spot Coming in Fall, Thanks to a City, a School and Two WalentasesDumbo, the quiet neighborhood rather painfully nicknamed “Silicon Beach” that reminds some techies of San Francisco, is getting an incubator/co-working space in the vein of the NYU-Poly incubator on Varick St. in Soho. The city is investing $250,000 into a space for 30 desks for tech companies and freelancers, provided at subsidy by neighborhood developer Two Trees–who also sponsored that free wifi that you now see popping up on the Manhattan Bridge. NYU-Poly will manage the space, selecting tenants and lining up workshops, speakers, and networking sessions. It’s nice to see the city putting money into incubators/subsidized workspaces, which are generally agreed to be a valuable part of the techie ecosystem. Also interesting is private sector involvement. Two Trees Management is providing the space at a discounted $3.50 per square foot with six months rent-free. The company, run by two brothers a father and son, owns 13 buildings in Dumbo; it also contributes to the arts scene there in various ways. The pair seems to think investing in tech will eventually drive up the value of property in the neighborhood and create demand for commercial, residential and retail space there. “One day, mark my words, Brooklyn will rival Silicon Valley in terms of high tech ingenuity, and this technology incubator will help get it there,” Brooklyn borough president Marty Markowitz said, reflecting his optimism—and dim understanding of the tech industry. But it seems like this could be a good model for the city’s efforts to encourage entrepreneurship: Convince private companies that investing in tech will lift their boats. Prospective incubator tenants can find out more here.

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