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New York Breaks Ground On First Bronx Business Incubator The Yankees aren’t the only ones swinging for the fences in the Bronx these days. Ground was broken Wednesday on a new 180-seat business incubator to be filled with entrepreneurs hoping for that next homerun start-up. The Sunshine Bronx Business Incubator, located in the BankNote Building at 890 Garrison Ave. in Hunts Point, expects to accommodate up to 400 entrepreneurs over the next three years. New York City Economic Development Corp. provided a $250,000 grant to establish the incubator, the sixth business incubator to launch in the city since September 2008. To date, start-ups located at the city-sponsored incubators have raised more than $15 million in venture funding and created more than 150 new jobs, according to New York City Economic Development Corporation President Seth Pinsky. Some of the tenants have already graduated into market-rate space and continue to expand, Pinsky said. New York’s entrepreneurial scene continues to grow, a trend officials hope shows the city will remain among the top centers in the world for business. “We’re trying to change the city’s economy,” Pinsky said. “One of those attempts is to promote entrepreneurialism, and we think it will allow us to compete with the cities that are our main challengers like Shanghai and Mumbai.” The nearly 11,000-square-foot space in the Bronx is split between desks and co-working space for freelancers and targeted to start-ups and entrepreneurs across industries including finance, new media, technology, green finance and technology, biomedicine and health care. Tenants will be able to lease space on a month-to-month basis for $295 a month for a desk, and co-working stations at $195 a month. Read more at blogs.wsj.com

 

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