FOR IMMEDIATE RELEASE
May 10, 2017
Ryan Van Amburgh
Saratoga Economic Development Corporation
(518) 587-0945, firstname.lastname@example.org
SPARK SARATOGA NEW BIZ INCUBATOR & GROWTH ACCELERATOR SECURES COWORKING SPACE FOR ENTREPRENEURS
Collaboration with Saratoga CoWorks to Provide Affordable Saratoga Springs Office Space for Early Stage Businesses to Grow
Saratoga Springs, NY — Saratoga Economic Development Corporation (SEDC) recently launched SPARK Saratoga to empower locally based entrepreneurs with mentoring support and access to potential capital to help promote, retain and grow new businesses in the region. Now a collaborative agreement with established flexible office space operator Saratoga CoWorks, will provide physical space and future educational programming at its existing facility on Regent Street in Saratoga Springs. Entrepreneur project companies who go through SPARK Saratoga analysis of their business idea or early stage companies who agree to a growth action plan to help them reach milestones will be eligible to access flexible space at reasonable terms managed by Saratoga CoWorks. SEDC, through its Advance Saratoga startup advisory team of proven professionals, will develop programming in speciality business practices to help entrepreneur project teams. Skills ranging from legal and personnel challenges, marketing and advertising on a budget, to capital raises, will be developed to educate early stage companies for growth.
“To Advance Saratoga, we have been listening and learning from our community based members to promote, retain and grow businesses and jobs,” said Dennis Brobston, President of SEDC. “Launching SPARK Saratoga was just the beginning of how we aim to attract and retain talent that will accelerate locally based opportunities to grow the jobs and wages needed to bolster our future. Now, we can afford entrepreneurs going through our initial project analysis and agreeing to growth action plans access to attractive space in Saratoga Springs. We know from our community engagement that flexibly price and term options for work space is essential so that startup teams are able to focus and meet with experts who can help them grow is desired. We are grateful for the community-minded commitment of our friends at Saratoga CoWorks to make this initial space available.”
“As entrepreneurs ourselves, we know the challenges and worries of putting your financial futures on the line to pursue your own business,” said Dorothy Rogers-Bullis, President and co-Founder of drb Business Interiors and Saratoga CoWorks. “We are grateful to be in a position to bolster the next generation of businesses who want to develop their futures close to where so many of us have desired to live, work and raise our families.”
SPARK Saratoga is operating and currently helping analyze the market potential and needs of more than a dozen new businesses in Saratoga County and beyond. Interested entrepreneurs and expanding growth businesses should visit its website and consider uploading basic information about their core business and goals. An initial analysis of the opportunity will be produced, with action plans developed with the entrepreneur designed to identify gaps to success and mentors to help better understand the obstacles to overcome. SPARK Saratoga is implementing a “GPS” mode to boost businesses growth potential, meaning the entrepreneurs have ultimate control over the direction they take to move ahead with the input and guidance of professional mentors.
As part of its aggressive five year Advance Saratoga growth initiatives to retain and grow over 10,000 jobs before year end 2020, SEDC member investors prioritized retaining locally based businesses and helping them grow headquarters here. SPARK Saratoga is one result of that priority initiative. SEDC and SPARK Saratoga will evaluate demand for space and continue to identify other opportunities for flexible office locations and project spaces to support new growth businesses in Saratoga County.
About Saratoga Economic Development Corporation (SEDC)
SEDC is a fully private investor led, non-profit consulting firm established in 1978 that works to retain existing businesses, while stimulating new investment to create more jobs in Saratoga County and the Capital Region of New York. SEDC is the premier economic development agency in Saratoga County and its mission is to create jobs, diversify the tax base and improve the quality of life for residents. SEDC accomplishes this through the retention of existing business, attraction of new industry, and improvement of overall competitiveness. For nearly four decades SEDC has been instrumental and continues to work with over 300 employers like Ball Metal Container, QUAD/Graphics, State Farm Insurance, Target and Ace Hardware distribution warehouses and the development of the Luther Forest Technology Campus (LFTC) which lead to the attraction of GlobalFoundries. In its history, SEDC has worked to bring over 17,500 jobs to Saratoga County and over $15 billion in capital investment. Just this year, SEDC has helped stimulate over $50M in new investment creating over 426 jobs, retaining 201 jobs and generating over $23 million in local employee wages per year.