Philadelphia, PA, November 03, 2016 --(PR.com
)-- The concept of Startup Home (http://StartupHome.us) is simple: Startups and entrepreneurs can co-habitate with like-minded individuals for a 6 months’ cycle, provided shared work space within an environment suited to the growth of their ideas. They can dream big, be creative, remain organized, mentored and be better positioned to succeed, all while enjoying the community and the city vibe all in one. This opportunity will allow for cross enrichment of ideas with the end results based around building sustainable innovative products and services with increased earnings for all involved.
Simone Tarantino, US Executive Director of Startup Home explained why they decided to cross the pond from the UK and make Philadelphia their first US location. “Philadelphia has a tremendous talent pool. There are tons of smart, eager students and young entrepreneurs centered on and in proximity to some of the nation’s premiere educational facilities like the University of Pennsylvania, Temple, Drexel, and many other great institutions with robust entrepreneurial programs. Not to mention, in 2015, Philly Magazine reported that, between 2006 and 2014, Philly added 120,600 millennials into the city. That's a staggering 41.2% growth - that one of the many markets Startup Home will cater to.”
City Officials are welcoming the initiative to the city of brotherly love. “This is a big deal for Philly, given that in this way the city retains the talent and the potential economy the local entrepreneurs will generate. In addition, the city will also benefit from attracting entrepreneurs from around the US and overseas,” says Archna Sahay, Director of Entrepreneurial Investment at City of Philadelphia. “As we work together to strengthen our local startup ecosystem, continuing to provide strong programs and resources for entrepreneurs is essential to the growth of the economy. It can also help us with attracting talent and capital from outside our city,” added Yuval Yarden, Program Director for Philly Startup Leaders, now partnering with Startup Home.
The prospected March 2017 ground breaking will be the first of up to 5 homes in Philadelphia, and will host up to 20 startups per building. One of the building will be completely dedicated to Women Entrepreneurs, and a second one will host an IoT and Augmented Reality Lab, built in collaboration with several partners. Also, Startup Home, will encourage community development, becoming a civic engagement hub for the neighborhoods.
Funding is provided by local and international investors, institutions, as well as partners and sponsors.
One of the investors noted that, “This is one of the most innovative real estate venture that I have been a part of. On one hand we earn income from renting space to entrepreneurs and on the other hand we have the opportunity to participate in an equity stake and possibly fund the next Elon Musk.”
Donald Pollard, US Business Development for the company, a PA native that lived in Philadelphia for several years, also stresses the importance of creating a venture that can double as community development vehicle for the city, “We are focusing of those neighborhood that are showing great potential but are not yet there. We want to be the hub for the development of the area, bringing innovation, funds and attention to it.”
With three locations in London, a fourth on the way, several others planned in Berlin and other European cities, Startup Home has an innovative business model that is sure to gain traction in the United States. In fact, Simone Tarantino confirmed that Philadelphia is the first of several US cities targeted as future locations.
Startup Home Inc., a US Company participated by the British Startup Home London, ltd, is creating Local Startup Ecosystems inspiring professionals to focus on the advantage of organizing, maintaining and scaling their operation in local communities, while providing co-living and co-working space, and all the necessary tools, mentoring and community driven elements to make personal and professional life a success.