Cushman & Wakefield today announced that it will serve as exclusive real estate sponsor for New York University’s leading incubator program to further its commitment to increase the success rate of new ventures and generate positive economic impact for New York City.
NYU’s program, which is sponsored by the Polytechnic School of Engineering, features three incubators strategically located across three tech hotspots – SoHo, DUMBO and MetroTech. The program is focused on providing the tools necessary for startups to grow into successful, sustainable companies. Cushman & Wakefield, the leading global commercial real estate services firm that was founded in New York nearly 100 years ago, will be intimately involved in advising companies, providing a high level of expertise in leasing, project management and sustainability strategies.
“NYU’s incubators nurture the aspirations of entrepreneurs, equipping them with the tools to succeed and guiding them through the early stages of their evolution,” said John Santora, Cushman & Wakefield CEO, North America. “Cushman & Wakefield is extremely excited to take part in this crucial stage of their growth, advising and supporting these new companies, and in turn, having a positive impact on New York City and beyond.”
“We are elated to welcome Cushman & Wakefield’s sponsorship of this NYU program,” said Kurt Becker, Vice Dean for Research, Innovation and Entrepreneurship, NYU Polytechnic School of Engineering. “Their expertise and resources will go far in helping the companies housed at our incubators to grow sustainably and further contribute to the local economy.”
The success of NYU’s incubator program is measured in terms of jobs created, capital raised, new products launched and the number of students engaged. Since its inception in 2009, the program has helped its companies to created more than 1,256 jobs, raised more than $145 million in capital, and had a local economic impact of $352 million.
“A significant obstacle for new companies is the ability to acquire suitable space that accommodates for potentially unanticipated growth and changing needs of the new organization,” said Ron Lo Russo, Cushman & Wakefield President, NY Tri-State region. “Cushman & Wakefield will help nurture these companies through this critical stage informing them on real estate strategies that accommodate their companies changing needs.”
NYU’s incubators open up their various event spaces to provide the tech community a meeting place and networking forum and allow for cluster growth. The companies represented in the incubators align with NYU’s research strengths in urban systems, information, technology, health and wellness. A total of 51 startups have graduated the program, which also includes partnerships with the Marino Organization, Lowenstein Sandler LLP, National Grid, Samsung, ADT, NYSERDA, NYCEDC and ESDC.
C&W has represented two of the graduating companies – KISI Inc. and Bounce Exchange – advising them in lease transactions, taking into account their projected growth trajectory. Recently, C&W partnered with KISI, a leading provider and developer of a cloud-managed keyless access control system, to roll out mobile access technology at the firm’s corporate headquarters in New York City, marking the first enterprise installation of this kind in a New York City office building.
C&W is deeply committed to fostering innovation. Last year, the firm announced it had aligned with Property Innovation Labs (Pi Labs), Europe’s first property-focused accelerator. In February, Pi Labs announced its inaugural intake of start-up companies and the launch of a crowdfunding campaign. Entrepreneur Faisal Butt, founder of Pi Labs, with C&W and venture capitalists Spire Ventures, is leading a three-month bi-annual program, which will provide funding, mentors and office space for the most exciting new wave of ‘proptech’ start-ups at the iconic Second Home, situated in the heart of east London’s ‘Tech City.’
C&W is a leading advisor to technology companies in New York and around the globe, having recently completed transactions with firms including MakerBot, Vice Media and Salesforce. In 2013 C&W advised Amazon in the year’s largest office lease in London. The firm’s experience working with the TAMI (technology, advertising, media & information) sectors was developed into a leading-edge website called, “C&W TechBeat” (www.cushwaketechbeat.com). A main feature of the site, a chart called ‘Evolution of a Startup,’ outlines the real estate lifespan of a startup company.