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WeWork Launches Growth Campus NYC to Provide Startups, Entrepreneur Community With $25 Million in Space, Resources
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WeWork Inc. has launched the WeWork Growth Campus NYC, aimed at supporting startups and nonprofits in New York City as part of an economic recovery initiative. With $25 million allocated for subsidized space across 500 offices in Queens, Manhattan, and Brooklyn, the program offers resources such as mentorship, networking, and educational opportunities. This initiative marks WeWork's first Growth Campus in the U.S. and involves partnerships with local Chambers of Commerce to foster innovation and support for small businesses.
Positive
Launch of WeWork Growth Campus NYC to support startups and nonprofits.
Allocation of $25 million for subsidized office space.
Access to mentorship, networking, and educational resources.
Partnerships with local Chambers of Commerce to enhance community support.
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Global flex space provider to boost startup ecosystem thorough programming and subsidized space across Queens, Manhattan and Brooklyn
NEW YORK--(BUSINESS WIRE)--
WeWork Inc., a leading flexible space provider, announced today the launch of WeWork Growth Campus NYC, an initiative that aims to boost economic recovery and provide support to startups, entrepreneurs and nonprofits across New York City. The ongoing pandemic has created challenges for growing companies, and WeWork Growth Campus NYC seeks to bolster the city’s economic recovery and future through support of innovation, a key piece of New York’s economy.
Through the program, WeWork will subsidize $25 million in space across more than 500 offices in 11 WeWork locations across Queens, Manhattan, and Brooklyn. With its main hub at WeWork Gotham Center in Queens, the program aims to connect a large entrepreneurial community. WeWork will also help WeWork Growth Campus NYC members succeed by providing resources, including mentorship, networking opportunities, and educational programming. WeWork Growth Campus NYC members will have access to WeWork Labs, offering virtual acceleration support, online access to expert advice, a global network of entrepreneurs, and exclusive member benefits and discounts to help them grow.
This is the first WeWork Growth Campus initiative in the United States, and WeWork is partnering with the Chambers of Commerce from all five New York City boroughs, as well as Tech:NYC, to launch WeWork Growth Campus NYC. Previously, WeWork launched WeWork Growth Campus UK, WeWork Growth Campus Europe (Belgium, Czech Republic, France, Germany, the Netherlands, Norway, Poland, Spain and Sweden) and WeWork Growth Campus APAC (Australia, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam).
WeWork Growth Campus NYC follows the successful launch of NYC x WeWork, a partnership between the Chambers of Commerce for all five New York City boroughs and WeWork to help foster post-pandemic economic recovery by supporting businesses’ safety-focused and flexible return to work. Through that partnership, chamber members received access to incentives, including discounted office space. In addition, WeWork provided the Chambers with key data and insights into what is effective as businesses return employees to work, creating a resource for businesses of all sizes to make informed real estate decisions.
“WeWork is thrilled to launch the first U.S. WeWork Growth Campus in New York City,” said Chris Ferzli, VP of Global Public Affairs at WeWork. “As a New York-founded and headquartered company, we are committed to helping the city’s diverse and growing entrepreneurial and nonprofit communities thrive. We’re grateful to have the support of City Hall and are excited to again partner with the city’s Chambers of Commerce to help bolster economic activity across New York.”
“We are excited at the opportunity that the WeWork Growth Campus initiative will provide to small businesses and entrepreneurs wanting to get ahead and thrive in New York City,” said Maria Torres- Springer, Deputy Mayor for Economic and Workforce Development. “By providing its members access to mentorship, networking opportunities, and educational programming the WeWork Growth Campus will undoubtedly bolster the city’s economic recovery and future through its support of innovation. We applaud the partnerships WeWork is launching with our Chambers of Commerce across New York City to have this initiative become a success.”
“The Queens Chamber of Commerce is excited to continue our work with WeWork to boost economic recovery in New York City,” said Tom Grech, President & Chief Executive Officer, Queens Chamber of Commerce. “Queens is home to a thriving tech and startup community, and Growth Campus NYC builds on the work of the Queens Tech Council, which focuses on making Queens a great home for tech. We couldn’t imagine a better headquarters for the program than at WeWork Gotham Center in Long Island City.”
“As an organization of tech leaders dedicated to fostering a dynamic, diverse and creative New York, Tech:NYC is thrilled to partner with WeWork on Growth Campus NYC,” said Jason Myles Clark, Executive Director of Tech:NYC. “We’ve seen that early-stage startups and nonprofits were particularly impacted by the pandemic, and programs like Growth Campus NYC will play a critical role in supporting these communities moving forward.”
To be eligible for WeWork Growth Campus NYC, all applicants must be based in New York and be founded within the past five years. Startup applicants must have fewer than 100 employees, be bootstrapped or be in (pre-)seed funding rounds, and be pre-revenue or have a turnover of less than $2 million. Non-profit and social impact applicants must be a registered B-Corp or 501(c)(3) and support underserved communities with economic opportunities. For full eligibility and information on WeWork Growth Campus NYC please visit we.co/growthcampusnyc.
About WeWork
WeWork (NYSE: WE) was founded in 2010 with the vision to create environments where people and companies come together and do their best work. Since then, we’ve become one of the leading global flexible space providers committed to delivering technology-driven turnkey solutions, flexible spaces, and community experiences. For more information about WeWork, please visit us at wework.com.
WeWork Growth Campus NYC is an initiative aimed at supporting startups and nonprofits in New York City to foster economic recovery post-pandemic.
How much funding is allocated for the WeWork Growth Campus NYC?
WeWork has allocated $25 million for the WeWork Growth Campus NYC initiative.
Which areas are included in the WeWork Growth Campus NYC's subsidized space?
The subsidized space spans over 500 offices across Queens, Manhattan, and Brooklyn.
Who can apply for WeWork Growth Campus NYC?
Eligible applicants include startups founded within the last five years, having fewer than 100 employees, and nonprofits registered as B-Corps or 501(c)(3).
What resources does the WeWork Growth Campus NYC provide to its members?
Members gain access to mentorship, networking opportunities, educational programming, and resources from WeWork Labs.
