Deputy Mayor Alicia Glen yesterday (Tuesday) opened New York City’s largest urban tech space.
The 50,000 s/f Hub @ GCT will host growth-stage companies working to address pressing urban challenges.
Located within technology accelerator Grand Central Tech in space at 335 Madison Avenue adjacent to Grand Central Terminal, The Hub @ GCT will provide office space, including an innovation center for businesses creating software-enabled technologies, products and solutions to urban challenges.
Grand Central Tech will operate the Hub with the support of partners including Cornell Tech, Microsoft and Milstein Properties, which also runs the tech investment firm Circle Ventures.
The Hub joins the growing tech community at 335 Madison, including the GCT accelerator and the Build Grand Central co-working space.
“At Milstein Properties, we are committed to and passionate about supporting the NYC tech community,” said Howard Milstein, chairman and CEO of Milstein Properties.
“335 Madison has become a tech magnet in Midtown, with incubators, co-working spaces, and much more. We’re very excited to welcome the Hub @ GCT to the building, providing entrepreneurs with high-quality, flexible, and affordable spaces to grow their companies and build the next great smart cities innovations.”
The Hub @ GCT is part of the New York City Economic Development Corporation (NYCEDC) UrbanTech NYC program to help entrepreneurs and innovators address the city’s urban challenges in sectors such as energy, waste, transportation, agriculture and water.
In partnership with New Lab and Grand Central Tech, NYCEDC has committed up to $7.2 million to create The Hub@GCT and a second Urban Technology Growth Hubs in Brooklyn.
NYCEDC also continues to provide space and resources to early-stage cleantech and smart cities through the Urban Future Lab, which houses the ACRE incubator run by the NYU Tandon School of Engineering.
Mayor Bill de Blasio, commented, “To move us toward our goals, we’ll need the City’s brightest minds and ideas, which is why UrbanTech NYC is so important. By providing our most talented visionaries with the space and resources they need to grow, we’re acting on our commitments to entrepreneurs, to innovation, and to a smarter and more equitable New York.”
The Hub @ Grand Central Tech will offer access to prototyping and testing equipment, local training programs, sector specific business workshops, mentorship and support.
Additionally, UrbanTech NYC will partner with the Mayor’s Office of Technology and Innovation to provide opportunities for companies to pilot and demonstrate their technologies across the city.
“We are thrilled to partner with NYCEDC to welcome the next generation of entrepreneurs tackling the problems facing cities,” said Matthew Harrigan, Co-founder and Managing Director of Grand Central Tech.
“We are honored to provide a space for today’s visionaries to turn their great ideas into tangible solutions for New York City.”
The New York State Regional Economic Development Council recently awarded NYCEDC $750,000 in funding to build a Smart Cities Innovation Center in the Brooklyn Navy Yard.
UrbanTech NYC could support up to 3,200 jobs over the next 10 years. A former ship-building facility will be transformed into an 84,000 square foot high-tech design and prototyping center that will become a national model for sustainable industrial parks.
The Hub @ New Lab will provide office, development, manufacturing and display space for hardware-focused urban technology companies, and will be operated by New Lab with support from the New York Regional Economic Development Council, New York City Council, and the Brooklyn Borough President’s Office, partnerships with Autodesk and CUNY City Tech, and in collaboration with Arup.
The Hub corporate partners include General Electric, Microsoft and Lowe’s.