The New York University Incubators are the first public-private partnership with New York City tasked with creating a sustainable incubation program focused on increasing the success rate of new ventures and generating positive economic impact. Existing at the intersection of the largest private research university in the world and the largest city in the world, the incubators are not only at the epicenter of a growing technology hub, but helped catalyze its success since the inception of the first incubator in 2009. By supporting ventures from New York City and NYU - currently a 50-50 split - the incubators leverage the support structure of both the city and the university to accelerate innovation and commercialization. Each incubator is strategically located in tech hotspots - SoHo, DUMBO and MetroTech - and they open up their various event spaces to provide the tech community a meeting place and networking forum and allow for cluster growth. The companies represented in the incubators align with NYU’s research strengths in urban systems, information technology, and health and wellness.
The Varick Incubator, launched in 2009 in partnership with the New York City Economic Development Corporation, was the first of the Incubators, placing it at the forefront of New York City’s rapidly growing technology and entrepreneurial ecosystem.
The DUMBO Incubator is located right in the heart of DUMBO’s digital district and represents the first incubator space in the area. DUMBO is home to NYC’s most prominent media technology and digital companies, and as a result the DUMBO Incubator has helped spur the startup activity in the area. The space is currently home to hardware and digital media companies.
The third incubator program is specifically focused on clean energy related and resilient technologies: the Urban Future Lab/NYC ACRE. This collaboration among the NYU Engineering School, the New York City Economic Development Corporation and the New York State Energy and Research Development Authority (NYSERDA) focuses on solutions that are making cities more livable, and adaptable to extreme weather events.
The mission of the incubators is to have a positive economic impact in New York City and it is measured in terms of jobs, capital raised, new products launched, exits and the number of students engaged. Since 2009 incubator companies have created more than 1,256 jobs, raised more than $145M in capital, and had a local economic impact of $352M. Seven incubator companies have been acquired over the past three years. Opportunities for corporate members to access student, faculty, and startup community talent are numerous.