Westchester County Picking First Entrepreneurs For New Element 46 Incubator Initiative
John Jordan | May 2019
WHITE PLAINS—In coming weeks, the Westchester Office of Economic Development will be putting the finishing touches on its groundbreaking new Element 46 incubator initiative.
Westchester County Executive George Latimer recently announced the launch of the Westchester Element 46 incubator program designed to inspire and support entrepreneurial talent and the development of new businesses in Westchester.
The rollout of the incubator program was announced on March 28 at the Business Council of Westchester’s Annual Business Expo event held at the Hilton Westchester in Rye Brook.
Westchester County Director of Economic Development Bridget Gibbons told Real Estate In-Depth in early May that since the program’s launch the county received approximately 65 applications for the Element 46 program by the deadline for submissions on April 26, 2019.
A cohort of 15 selected entrepreneurs will be selected and subsequently housed in a number of co-working locations in the county and paired with some of the best minds across business, innovation, and the investment community. The first cohort of Element 46 participants will be selected by the end of May and begin classes in July 2019 and complete the program by October 2019. Gibbons said that the co-working incubator locations will also be selected by the county by the end of May.
At the time of the project’s launch, Latimer said of the new initiative geared to business start-ups, “Westchester has all of the most important ingredients for start-up success—location, infrastructure, transportation, business expertise, investor interest, talent and more. By bringing together the very best entrepreneurial ideas and supporting them with the immense talent and resources of this county, I’m confident that we’ll be able to cultivate high-growth companies that will drive economic development for Westchester and also serve as a great reminder of the benefits of working, living and playing right in our county.”
Gibbons added, “We are laser focused on attracting startups to Westchester and creating an entrepreneurial ecosystem. Through Element 46 we plan to provide early-stage entrepreneurs with the support they need to professionalize and scale their businesses, and to keep them here in Westchester.”
Incubators are organizations geared toward speeding up the growth and success of startup and early stage companies. They provide access to services such as accountants and lawyers—in addition to invaluable coaching and networking connections through the mentors and other entrepreneurs at the incubator. They are also often a good path to capital from accelerators, angel investors and venture capitalists. Element 46 will have a positive impact on economic growth in communities across the county by maximizing the success of emerging, startup companies county officials stated.
Startups, mentors, service providers and co-working spaces interested in learning more about the Element 46 program, should visit the website at Element46.org. The application deadline for startups is April 26, 2019.
Participants will have access to:
Strategic Resources—Element 46 has partnered with some of the leading experts in the community to advise, train and directly support participants.
World-Class Mentors and Advisors—Element 46 builds a community of support around founders by bringing together a robust network of seasoned entrepreneurs, experienced change-makers, and leaders across sectors.
Access to Subject Matter Experts—Element 46 helps participants gain exposure for their ventures to support their long-term sustainability, including: access to entrepreneurs, press, and supporters, during the course of the cohort session; access to potential funders, investors, and partners; access to key community figures and innovators at events.
Office Space—Full time space at a co-working office strategically located and transit-oriented—free of charge during the firm’s participation in the Element 46 program.