Verizon’s commitment to propelling the growth of startups continues with the recent announcement of a new coworking space at its landmark building at 140 West Street in Lower Manhattan, across from the World Trade Center. The space will provide flexible workspace options for startup companies and entrepreneurs with the desire for access to a networked community of diverse talent and expertise. 10,000+ square feet of underutilized space will be retrofitted to connect the coworking community to Verizon’s advanced FiOS and provide a platform for modern work in the legacy, Art Deco structure. The space is expected to be open for operation in early 2016.
Verizon is working with Grind, which has experience as an operator of premium membership-based coworking communities, to curate the experience. Verizon looks to gain access to an external community that ranges from entrepreneurs, technology developers, community leaders, and academics. The space will include open workspace, team rooms, conference rooms, and meeting spaces to accommodate around 120 people per day. Office hours and mentorship will be provided through Verizon Ventures.
With Verizon’s headquarters in New York, this unique space will provide the venture development team the opportunity to collaborate more closely with our portfolio companies on a regular basis. The space will also serve as a test bed to potentially launch coworking operations with Grind in Verizon locations throughout New York City and other entrepreneurial communities across the country. Our philosophy is about providing a broad range of support, services, non-investment business functions and resources to the startup community, and this new coworking initiative will bridge Verizon Ventures with the entrepreneurs fueling innovation. Read the full press release here.