Clean tech incubator opens doors to NYC community
- 20 March 2014
NEW YORK: Collaboration between the New York City Economic Development Corporation (NYCEDC) and the New York University Polytechnic School of Engineering has culminated in the opening of the Urban Future Lab, a clean tech incubator in Brooklyn, NYC on March 13.
The incubator, which is based at the NYU School of Engineering’s campus, aims to harness the potential of innovative start-ups by providing educational and workforce training on sustainability and urban resilience.
The Urban Future Lab will be a key vehicle of economic growth and is expected to generate over 9,000 new jobs by 2025. Twenty companies will be based at the 10,000 square foot space and each will aim to tackle issues as complex as energy efficiency, climate adaptation and urban resiliency.
Aside from supporting new businesses, the incubator hopes to play a prominent role in the community through a scheme to educate 50 public school teachers, in addition to hosting numerous school visits. NYCEDC President Kyle Kimball, was keen to emphasize the educational value of this initiative, stating: “This incubator is a leading example of how strong partnerships among the City, academia, and the private sector can promote entrepreneurship and facilitate cutting-edge research and education."
NYC incubators have a strong track record when it comes to boosting employment in the area. To date the two incubator partnerships of the NYU School of Engineering and the City have resulted in 900 new jobs and generated more than US$251 million in economic activity.
Notably, the Varick Street Incubator and its subsidiary NYC ACRE in Manhattan (2009), and the DUMBO Incubator (2012), have also contributed in excess of $31.4 million in local, state, and federal tax revenue.
Deputy Mayor for Housing and Economic Development Alicia Glen, said: "The Urban Future Lab encourages economic growth, job creation and innovation while connecting New Yorkers to the flourishing clean technology sector. Cultivating the tech sector, through incubators like the Urban Future Lab, is critical to developing jobs for all New Yorkers, including students, teachers, and low-income entrepreneurs."
Davida Heller, Head of Membership Engagement at The Climate Group, commented: The work of the Urban Future Lab’s to incubate clean technology and energy entrepreneurship will bring attention and support to low carbon innovation technologies that will help reduce carbon emissions. The Climate Group is committed to working with these exciting new voices who are certain to be the drivers of the Clean Revolution in the coming years.”
By Alana Ryan