June 20, 2012
Mayor Greg Stanton and the City Council approved a partnership today to lease office space to SEEDspot, a local business incubator and nonprofit that helps entrepreneurs launch innovative ideas and boost Phoenix’s economy.
SEEDspot will make its new home at 1 S. 24th St., central to the Discovery Triangle, a regional development area, by leasing 5,461 square feet of office space.
“SEEDspot is an example of exactly what our city needs at exactly the right time,” Mayor Greg Stanton said. “Phoenix is coming out of this recession, but in order to break that boom-and-bust cycle of the past, we need innovative ideas generated by new entrepreneurs, helped by incubators, to drive Arizona’s economy toward future success. Phoenix has to lead with a diverse and sustainable economy and we can achieve that with partnerships like these.”
Stanton has pushed for fostering public/private partnerships between cities, universities, community colleges, the business community and non-profit organizations to provide new incubator space for start-up companies, where they can access office space, technology and amenities to foster their success.
Recently, Arizona State University teamed up with Gangplank, a nonprofit that fosters a collaborative environment for startups.
Launching in fall 2012, SEEDspot is a nonprofit incubator focused on supporting social entrepreneurs. Social entrepreneurs represent for-profit businesses that create positive impact in communities on a local, national, or international scale. SEEDspot believes in supporting entrepreneurs that are launching innovative enterprises that improve lives and make communities stronger.
"Our vision is to help early stage Arizona entrepreneurs commercialize their ideas into revenue generating, job creating, impactful entities,” said Courtney Klein Johnson, co-founder of SEEDspot.
With 39 entrepreneurs already on a waiting list, SEEDspot plans to support up to 20 ventures when the doors open this fall. Through an 18-week curriculum based program, selected ventures will receive access to weekly educational workshops, business development tools and templates, a robust network of service providers, community mentors, national thought leaders, office space, and an opportunity to raise capital through a capstone pitch event. The SEEDspot application will be available at www.seedspot.org from July 1 to Aug. 30.
Ventures may stay at SEEDspot for up to one year, after which point, they will are expected to move out on their own. SEEDspot is working closely with the City of Phoenix and Discovery Triangle Development Corporation to identify opportunities to build an entrepreneurial ecosystem along Washington Street that will populate vacant buildings with new entrepreneurial ventures.
"We want to put Phoenix on the map for growing, supporting, and retaining our own local talent; we cannot afford to lose entrepreneurial talent to other cities,” said Chris Petroff, co-founder of SEEDspot.
Contacts for SEEDspot: Courtney Klein Johnson & Chris Petroff, co-founders, 480-628-2300.