The 757 Startup Studios launch is set to significantly impact the startup ecosystem in Hampton Roads, offering a dedicated space for entrepreneurs to connect and grow. This initiative is part of the ongoing evolution of the region’s startup scene, following the 2015 launch of the 757 Angels investor network and the 2017 founding of 757 Accelerate. The new hub will address the region’s sprawl issue by uniting founders in the Assembly building campus development. The inaugural tenants, 83% of whom represent underrepresented founders, will receive six months of rent-free tenancy and can apply for an additional six months if they reach specific company milestones. The new space, which includes social distancing precautions, will also provide office space for 757 Angels, 757 Accelerate, and other entities.
Introduction
From RICHMONDINNO By Kaitlynn R. Copinger
757 Startup Studios Launch
A new innovation hub, 757 Startup Studios, is taking root in downtown Norfolk as space for Hampton Roads entrepreneurs to connect and grow.
Evolution of the Startup Ecosystem
The launch is yet another step in the evolution of the Hampton Roads startup ecosystem. It follows the 2015 launch of 757 Angels, an investor network, and the 2017 founding of 757 Accelerate, the region’s accelerator program.
Creating Entrepreneurial Density
“The Studios itself is going to allow us to create some entrepreneurial density,” said Monique Adams, 757 Angels executive director and 757 Accelerate board member.
Addressing Challenges
By bringing together founders in the new Assembly building campus development, 757 Startup Studios offers a solution to one of the greatest challenges for the Hampton Roads region: its sprawl.
Support for Founders
The first spots at 757 Startup Studios will be filled by 12 inaugural tenants selected through a competitive application process. Each early stage, high-growth company will receive six months of rent-free tenancy, with the ability to apply for another six months of free rent if individual company milestones are reached.
Diversity and Inclusion
Of the inaugural tenants, 83% include underrepresented founders, meaning women, people of color and veterans.
Future Plans
Tenants are scheduled to move into the new space, which includes social distancing precautions, in mid-May. Once pandemic restrictions are relaxed, 757 Startup Studios will be able to accommodate 33 founders, including the 757 Accelerate participants.
Inaugural Tenants
- Modern Matter, a home fashion brand
- Frontline Gig, a gig work platform for green infrastructure maintenance by municipalities
- Magazine Jukebox, Inc., a digital magazine rack
- Precise Portions, a nutrition learning system that promotes healthy eating
- Global Branding Agency, a branding partner for independent apparel brands
- Innovative Warrior Technologies, a defense technology company
- Mayfair, a company that supports property and casualty insurers
- Storystorm.io, a custom visual storyteller
- 2E1B Lab, an environmental technology company
- CustomerDiscovery.co, a connector between founders and early adopters
- Realms, a social engagement platform for local retailers
- KarHappy, a concierge vehicle care service
Additional Office Space
In addition to the selected startups, the new Assembly building will also provide office space for 757 Angels and 757 Accelerate, the Techstars’ executive director for Hampton Roads, NavalX TechBridge and a representative for the Hampton Roads Biomedical Research Collaborative.
Question & Answer
What is the purpose of 757 Startup Studios?
The purpose of 757 Startup Studios is to provide a dedicated space for entrepreneurs in Hampton Roads to connect and grow.
How does 757 Startup Studios contribute to the evolution of the startup ecosystem in Hampton Roads?
757 Startup Studios is another step in the evolution of the startup ecosystem in Hampton Roads, following the launch of 757 Angels in 2015 and 757 Accelerate in 2017.
What challenges does 757 Startup Studios address for the Hampton Roads region?
757 Startup Studios addresses the challenge of sprawl in the region by uniting founders in the new Assembly building campus development.
What support do the inaugural tenants of 757 Startup Studios receive?
The inaugural tenants of 757 Startup Studios receive six months of rent-free tenancy, with the opportunity to apply for an additional six months if they reach specific company milestones.
