Initiative will create center for innovation; to be operational early 2016
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NEW YORK, Oct. 12, 2015 /PRNewswire/ -- Verizon today announced an initiative designed to connect with New York City's tech community, in which it will open a coworking space at its landmark building at 140 West Street in lower Manhattan, across from One World Trade Center.
The space will provide flexible workspace options for startups and entrepreneurs seeking access to a networked community of diverse talent and expertise. Verizon is working with Grind, an experienced operator of premium membership-based coworking communities, to curate the experience.
As part of the initiative, Verizon will convert 10,000+ square feet of an underutilized floor at its iconic, former headquarters building. The space will connect the coworking community to Verizon's advanced Internet services and provide a platform for modern work in the legacy, Art Deco structure. The company expects to be operational in early 2016.
"With a rapidly growing tech sector in New York City, and a desire by those firms for high-speed connectivity, reliability and stability, our building will be getting new life as a center of innovation and collaboration," said John Vazquez, Verizon's senior vice president for Global Real Estate.
The space is being designed by Gensler, a leading architecture and design firm. The objective of the new space is to provide an environment that inspires knowledge sharing and collaboration among members of the coworking community and to enable them to problem solve and co-create with some of the best and brightest in their industries.
"Grind is excited to form this collaborative partnership with Verizon to create a coworking location that will align with Grind's mission to shape the future of work," said Grind co-founder Benjamin Dyett. "Grind's friction-free business model, premium aesthetic, and culture of innovation combined with Verizon's technology and real estate expertise will deliver a powerful workplace experience to users of the space."
With a focus on capturing a target audience of start-ups and entrepreneurs, mentorship will be provided through Verizon Ventures, the venture capital arm of the company.
Verizon has a history of entrepreneur empowerment through The Powerful Answers Award program, which has issued $16 million in awards to date with $6 million more to be awarded later this year.
The company looks forward to working with a talented and diverse external community of entrepreneurs, technology developers, community leaders and academics. "We expect this location – and possibly others across the country – will be a dynamic work environment where start-up and creative entrepreneurs can form vibrant interdisciplinary communities geared toward collaboration and innovation," said Vazquez.
Members will have access to Verizon's high speed broadband and other platform technologies to boost their development opportunities. The space will include open workspace, team rooms, conference rooms, and meeting spaces, to accommodate around 120 people per day.
Verizon will use the West Street location as a test bed to potentially launch coworking operations with Grind in Verizon locations throughout New York City and other entrepreneurial communities across the country. Each coworking site will be customized to fit the needs of the particular community it serves.
About Grind
Grind is a premium operator of members-only collaborative workspaces designed for 'people who would rather work in a community than at a company'. It is a professional platform designed to fuel the leap from traditional corporate environments to 'the future of work' by offering not only flexible, beautiful spaces, but also communities of like-minded, hard working entrepreneurs who can share advice and expertise to enhance opportunities. Learn more about the Grind and Verizon partnership at www.grindspaces.com/grind-west-coworking.
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, employs a diverse workforce of 178,500 and generated more than $127 billion in 2014 revenues. Verizon Wireless operates America's most reliable wireless network, with 109.5 million retail connections nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers worldwide. For more information, visit www.verizon.com/news/.
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SOURCE Verizon
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