In April, the Tribune reported that 1871, a 2-year-old incubator for tech startups, would expand its space from 50,000 square feet to 75,000.
On Monday, the state confirmed it will pledge
"This expansion shows that our investment in the next generation of
"1871 has become a true entrepreneurial hub for our state, and its expansion means more career opportunities for the hardworking residents of
The expansion also means that more venture capital firms, who pay more for their space, will call 1871 home. Tullman said 1871 now houses 250 startup companies, with that number growing to 350 to 400 by the end of the year.
The space will be dedicated for seven mini-incubators focusing on food, real estate, education, financial services, startup engineering, women-owned tech businesses and something called the Internet of Things, conceived by the belief that everyday objects can be connected to the Internet and send and receive information.
The startup engineering incubator will include a presence from the
In addition to the latest funding, the state contributed
"For the second time now, the state has stepped up and expressed confidence that we can continue to grow, create jobs and focus on these areas," Tullman said. "We're very excited. I think it's the right thing to do, because we really didn't want all of this momentum and all this energy to be limited by 14 different incubators spread out throughout the neighborhood."
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