New York City Economic Development Corporation and the New York University Polytechnic School of Engineering opened its Urban Future Lab, a business incubator in Downtown Brooklyn, New York, designed to support startup companies and provide workforce training.
Located at NYU School of Engineering’s Downtown Brooklyn campus, at full capacity the 10,000 square-foot incubator will house approximately 20 companies. It has the potential to educate 50 public school teachers and train dozens of young adults on an annual basis. The creation and ongoing operation of the Urban Future Lab is expected to generate over 9,000 new jobs by 2025.
"The Urban Future Lab encourages economic growth, job creation and innovation while connecting New Yorkers to the flourishing clean technology sector,” said Deputy Mayor for Housing and Economic Development Alicia Glen. “Cultivating the tech sector, through incubators like the Urban Future Lab, is critical to developing jobs for all New Yorkers, including students, teachers, and low-income entrepreneurs."
“This public-private-academic collaboration creates a tremendous opportunity for New York to be a global leader in shaping the city of the future,” said NYU School of Engineering Dean Katepalli Sreenivasan. “Cities everywhere are adopting smart technology to answer the needs of an increasingly urbanized population, and greater emphasis needs to be placed on developing those technologies now. The Urban Future Lab will accelerate the commercialization of university innovation and expand our role as a driver of technological solutions and entrepreneurship in the City.”
The Urban Future Lab will house companies seeking to solve challenges of energy efficiency, climate adaptation, resiliency, and other technologies that are helping cities and infrastructure become smarter and more sustainable. The facility incorporates a 2,000-square-foot demonstration and exhibition space to host a variety of programs, meet-ups, and exhibits that bring the vision for livable cities and smart buildings to life.
“We look forward to being a part of this exciting new venture and helping innovative small businesses expand in Brooklyn and New York City,” said Brooklyn Chamber of Commerce President/CEO Carlo A. Scissura. “The Chamber is exploring opportunities to nurture the growing innovation economy in Brooklyn and ensure that the whole borough benefits.”
“The Urban Future Lab will be an innovation hub that develops and brings to market products to address a wide range of energy and sustainability fields,” said John B. Rhodes, President/CEO, NYSERDA. “The work achieved here through the PowerBridge Proof of Concept Center and the ACRE incubator will create jobs and support the clean-energy economy that Governor Andrew Cuomo is fostering in the State.”