September 25, 2016
By Stephanie West
New York, NY – New York City has launched THE HUB @ GCT, a 50,000 square foot space dedicated to urban technology. The Midtown Manhattan space will host growth-stage companies working in the urban tech sector.
Earlier this year, New York City Economic Development Corporation (NYCEDC) announced its partnership with New Lab and Grand Central Tech to create Urban Technology Growth Hubs in Brooklyn and Manhattan, respectively. The hubs are key aspects of the City’s Urban Tech NYC initiative, which offers space, equipment, pilot opportunities, and shared resources to companies addressing New York City’s most pressing urban challenges.
“The Grand Central Tech Hub is going to help innovation firms spark new ideas and grow their workforce. Our investment here is part of a bigger strategy to secure the space, train the talent and provide the infrastructure our tech ecosystem needs to thrive and compete. There is no city in the world better positioned to be the capital of technology and innovation than New York City,” said Deputy Mayor for Housing and Economic Development Alicia Glen.
The Urban Tech Growth Hubs will activate approximately 100,000 square feet of flexible and affordable space, and provide dedicated resources for fast-growing cleantech and smart cities companies that have outgrown business incubators, accelerators and other early-stage programs.
“Our partnership with Grand Central Tech is a win-win, helping develop innovative companies that are both creating good jobs and finding solutions to some of the biggest challenges facing cities today,” said NYCEDC President Maria Torres-Springer. “We’re excited to welcome the Hub @ GCT to our UrbanTech NYC team as we continue to grow a vibrant 21st century economy in New York City.”
Located adjacent to Grand Central Terminal in Manhattan, Grand Central Tech is a leading technology accelerator designed to support startups and entrepreneurial ambition by leveraging the city's competitive advantages to build a diverse and inclusive culture of innovation.
The launch of the Hub @ GCT makes Grand Central Tech the largest tech-focused ecosystem in New York City, with 100,000 square feet spread across three different offices that cater to companies throughout the various stages of their growth.
“New York is a destination for entrepreneurs who want to make a difference in confronting urban challenges. The Hub will provide these companies with unparalleled opportunities to collaborate with both corporate and government partners,” said Matthew Harrigan, Co-Founder and Managing Director of Grand Central Tech.
The Hub is uniquely designed to accommodate the needs of the fastest growing companies in the Urban Tech ecosystem. With a flexible layout accommodating open workstations and modular offices, it is designed to hold companies of 10-120 people, ensuring NYC’s most successful companies have a home that matches their needs for flexible, affordable space in the heart of the City.
"Accelerators like Grand Central Tech are where we are going to grow the next generation of New York success stories," said Manhattan Borough President Gale A. Brewer. "I'm looking forward to seeing this space, and the services it provides, contribute to our tech sector success."