The Austin Chamber of Commerce is helping to facilitate an idea to launch a startup district and workplace downtown to rival those seen in Boston and Silicon Valley.
The proposed name of the district is “Austin Live,” which would serve as home for tech entrepreneurs and startup companies to spark innovation, collaboration and investment.
Preliminary plans indicate that an open floor plan with meeting rooms and a “coffee house” environment is preferred, leading to a team-based environment for those looking to break into the tech industry.
Reports from The Austin American Statesman indicate that the chamber’s Austin Technology Partnership, which is charged with the task of finding a venue, is conducting an ongoing search for a building to accommodate 10,000 square feet of space.
The push for the startup incubator came from an Austin Chamber of Commerce initiative that was born in April at the request of the governor and was facilitated by tech partnerships with Cisco’s John Chambers. A CEO summit sponsored by the Austin Technology Council followed in May, which brought 100 technology leaders together to brainstorm ideas on how to bring Austin to the next level of top-tiered tech cities.
In terms of paying for the space, the Austin Chamber stated that service providers in the fields of accounting, law or venture capital firms may be able to underwrite expenses and pay or minimize costs related to running the startup district.
While the idea is only in its infancy, the chamber’s role at this point is to find a space and is not involved in management or recruitment of members for Austin Live.
Other startup districts across the nation have shown success and promise for the idea in Austin. Boston’s startup district led to an investment by Polaris Venture Partners and the company’s creation of Dogpatch Labs to bring business startups and investors together. Polaris partners enjoy a first look at emerging technology with the possibility of future funding of startups, but the company doesn’t take an initial investment in the startups.
Dogpatch Labs also offers services in New York City and San Francisco. According to the firm’s website, the company offers “desk space, bandwidth, coffee and lunch to aspiring entrepreneurs. Whether it is sharing space, sharing ideas, sharing referrals, networking or just hanging out, we all thrive on the flow of ideas, people and relationships.”
In San Francisco’s South of Market region, known as SoMa, the district provides support for the same goals and has led to such success stories as Yelp, Twitter and Zynga.
The idea to launch in Austin may hold water and could effectively accelerate business model planning for innovative bootstrappers, leading to more effective and successful launches. RCR Wireless News will follow developments and report any further actions.
At last month’s CEO summit in Austin, Governor Rick Perry said, “Our commitment to the values that have guided us through the challenging national economy are the same values that make Texas the ideal state for a high-tech companies seeking the flexibility and freedom that will enable them to grow from start-up to global leader.”
Would you like all your dreams to come true? Follow Marc Speir on twitter @truthorcon.
