For many emerging startups, the most challenging thing to secure is finding the support to keep your business going. Even when you're just starting out, it's important to have the support you need through other entrepreneur-focused services.
And for New York City, where entrepreneurs have access to a plethora of startup support systems and programs, it's vital that they are able to find ones that cater to their specific needs.
Grand Cental Tech, a New York City-based accelerator, is looking to change the way that New York City startups and entrepreneurs get the support they need to push them to success. Instead of giving investments to rising startups, Grand Central Tech focuses on providing free space in their coworking offices for a year, including other networking elements.
With a deal like this, many have applied to be part of the accelerator's program. They've had over 1,000 applicants and nearly 20 acceptances – and thanks to the partnerships that allow them to host spaces for these startups, they're able to focus on providing emerging startups with the support they need.
Along with providing free spaces for startups, Grand Central Tech pledges to make a difference with socioeconomic impact, writing:
“…ensure that the broadest possible range of beneficiaries stand to benefit from the energy and resources being poured into the tech sector, and the opportunities that are coming out of it. We do this by selecting for a diverse community of tech companies without in the least sacrificing on quality and then challenging/enabling that community to engage in good corporate citizenship via our code of conduct and a number of outreach efforts – most notably our signature internship program that draws in young people from across the socioeconomic spectrum and provides them internships with our member companies.”
It looks like Grand Central Tech is disrupting how New York City startups are supported in a small way.
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