Incubators have been popping up all over NY, helping young startups achieve success. Many incubators are funded by universities, government or nonprofits and dedicated to one specific industry. New York University’s Polytechnic Institute operates three spaces, and Sunshine Suites, New Work City and General Assembly offer low-cost or no-cost workspaces. Some, like Polaris Ventures’ Dogpatch Labs, provide space and workshops for budding entrepreneurs.
Accelerators, funded by venture capitalists or angels, are also on the rise, providing investment capital and a workspace for three months in exchange for a stake in the company. Co-founder of the Entrepreneurs Roundtable Accelerator, Murat Akithanoglu, says to Crain’s New York Business, “Right now, New York is the best place in the world to start a company.”