Tandon in the News
DUMBO Business Incubator To Help High-Tech Startups
Two Trees, NYU-Poly Are Partners in Facility
- Brooklyn Daily Eagle June 9th, 2011
- Source: http://www.brooklyneagle.com/categories/category.php?category_id=6&id=43993
Mayor Michael Bloomberg, Brooklyn Borough President Marty Markowitz, the New York City Economic Development Corporation (NYCEDC), Polytechnic Institute of New York University (NYU-Poly) and Two Trees Management Thursday announced a new city-sponsored business incubator to support the development of technology startup businesses in Brooklyn.
The DUMBO Incubator, located at 20 Jay St. — one block from Brooklyn Bridge Park — will accommodate technology entrepreneurs in Downtown Brooklyn and across New York City over the next three years and is expected to be fully operational by the fall of 2011.
NYU-Polytechnic, the facility operator, has signed a three-year lease with Two Trees Management Company, which has for years been dedicated to the revitalization of DUMBO. Two Trees provided the 6,440-square-foot space for the DUMBO Incubator at a highly subsidized rate of $3.50 per square foot, as part of its commitment to catalyzing entrepreneurship and stimulating job growth in the neighborhood. In addition, Two Trees Management will offer six months rent-free in order to provide additional help with the launch.