757 Startup Studios Norfolk, located in the city’s Assembly building, has welcomed its inaugural tenants. This new regional innovation and entrepreneurial hub, a joint effort by local investor group 757 Angels and regional startup program 757 Accelerate, aims to support the growth of all founders, including women, people of color, and military veterans. Tenants of the 757 Startup Studios enjoy benefits such as six months of free rent, access to mentorship and programming, and various amenities. Furthermore, if these businesses meet key progress indicators, they may qualify for an additional six months of free rent. The studio currently houses 12 companies, with plans to expand to 24 post-COVID.
Introduction
From INSIDE BUSINESS By By SANDRA J. PENNECKE
757 Startup Studios Welcomes Inaugural Tenants
757 Startup Studios welcomed 12 inaugural tenants on March 29 to its new space in downtown Norfolk’s Assembly building. (Courtesy / HANDOUT)
NORFOLK — A dozen inaugural tenants will take up “residency” on May 15 in the newly opened 757 Startup Studios.
About 757 Startup Studios
The space, at 400 Granby St. in Norfolk’s Assembly building, is the latest regional innovation and entrepreneurial hub for Hampton Roads’ startups.
Partnership and Mission
757 Angels, the local investor group, and 757 Accelerate, the regional startup growing program, joined forces to create the studios and have offices in Assembly.
Supporting Inclusive Ecosystem
Monique Adams, 757 Angels executive director, said in a news release they continue to focus on building an inclusive ecosystem that supports the growth of all founders, including women, people of color, and military vets.
Benefits for Tenants
“We are proud that 50% of applicants and 83% of selected tenants for 757 Startup Studios have underrepresented founders on their teams,” Adams said.
According to the release, tenants receive six months of free rent — thanks to funding by TowneBank, Ferguson Venture, Cox Communications and the City of Norfolk. Tenants also have access to programming, mentorship and Assembly’s amenities, which include a rooftop event space, conference room, library, kitchen, mail and game rooms.
Future Plans and Tenants
Ian Frazier, project manager for 757 Angels and 757 Accelerate, said that if the businesses meet key progress indicators, they can qualify for another six months of free rent.
“After COVID, when we can go full capacity, we’ll have around 24 companies in there, but right now we can only do 12,” Frazier said. “In addition, 757 Accelerate can hold seven companies.”
The selected tenants are:
- Modern Matter, a home fashion brand
- Frontline Gig, a gig work platform that provides workers for maintenance tasks like trash and weed removal
- Magazine Jukebox Inc., a digital magazine rack
- Precise Portions, a nutrition learning system that focuses on portion control and healthy eating
- Global Branding Agency, which focuses on streamlining production for independent apparel brands
- Innovative Warrior Technologies, a defense technology company aimed to advance the safety of the American war fighter
- Mayfair Project, which helps property and casualty insurers settle lawsuits
- Storystorm.co, a one-stop shop for visual storytelling
- 2E1B Lab, an environmental technology company
- CustomerDiscovery, which helps early stage founders build tech-driven products
- Realms, a social engagement platform that supports the eat, live, local initiative
- KarHappy, an app-based car concierge service
757 Startup Studios also houses the new executive director of Techstars, NavalX TechBridge and a representative from the Hampton Roads Biomedical Research Collaborative.
Sandra J. Pennecke, 757-652-5836, sandra.pennecke@insidebiz.com
Question & Answer
What is the purpose of 757 Startup Studios in Norfolk?
The purpose of 757 Startup Studios in Norfolk is to support the growth of all founders, including women, people of color, and military veterans, by providing a regional innovation and entrepreneurial hub.
What benefits do tenants of 757 Startup Studios receive?
Tenants of 757 Startup Studios receive six months of free rent, access to mentorship and programming, as well as various amenities such as a rooftop event space, conference room, library, kitchen, mail and game rooms.
How many companies are currently housed in 757 Startup Studios?
Currently, 757 Startup Studios houses 12 companies, with plans to expand to 24 post-COVID.
