1776, the D.C.-based incubator and seed fund, is coming to New York City.
The move is the latest in a series of expansions for 1776, which has also set up campuses in San Francisco and Dubai. 1776 will be the anchor tenant of the Brooklyn Navy Yard’s Building 77, which is a new space that New York City has invested over $100 million in building out.
Set to open in 2017, Building 77 is a 1,000,000-square-foot space that will serve as the Navy Yard’s public portal and extensive manufacturing hub, as well as support 3,000 new jobs. In the meantime, 1776 will occupy a temporary space this summer.
“Once again, New York City is showing the world what inclusive, meaningful entrepreneurship and economic development looks like. Partnering with 1776 at the Navy Yard is a big step toward achieving our goal of making our city the global capital of the new innovation economy,” New York City Mayor Bill de Blasio said in a statement.
Founded in February 2013, 1776 targets startups in regulated fields, such as education, energy, food, health, transportation, health, finance and government. 1776 is expanding to New York with the mission of uniting institutions, policymakers and startups to boost these sectors on a local level.
In the same vein as its D.C. hub, 1776 New York City will incubate early-stage startups in highly-regulated industries and invest in New York-based startups. Membership into the incubator is granted through an application process that selects startups with high-growth potential to impact the city's community.
“1776 is eager to work with New York City’s innovators to transform industries and empower startups. We are thrilled to join forces with the Brooklyn Navy Yard to drive this mission in the greatest city on Earth,” said Rachel Haot, Managing Director of 1776, in a statement.
1776 New York City is accepting applications for its membership wait list immediately.
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