Rhinebeck, NY, in the Hudson River’s Tech Valley, is the the new home of a new Idealab business incubator focused on early stage company creation.
The new startup studio will incubate startups in the food, education, media, and manufacturing sectors. It will collaborate with a number of public-private partnerships and large industry partners to sponsor and co-create startups.
As part of the new entity, The Trillions Co. merged its Studio of Trillions portfolio into Idealab New York. Jonathan Cohen, serial entrepreneur and Founder, Chairman, and CEO of The Trillions Co., will serve as Chairman and CEO of the company. Bill Gross, entrepreneur and Founder and Chairman of Idealab, will join the board.
, a leading technology incubator, and The Trillions Co. (Trillions), the breakthrough social innovation seed-stage investment company announced the partnership this week.
Idealab New York is based on a 10-acre campus in Rhinebeck, N.Y., which includes a 5,000 square foot state-of-the-art innovation space for entrepreneurs, a 5,000 square foot advanced manufacturing facility; and residential housing.
New York is the second largest startup ecosystem in the world with more than $70B of ecosystem value; venture investment activity alone grew from $2Bin 2012 to $13Bin 2017 in the region.
“Idealab New York will leverage our unique approach to generating durable startups and resilient founders and we’re excited to launch and begin collaborating with entrepreneurs who will generate meaningful change,” said Jonathan Cohen, Chairman and CEO, Idealab New York. “With that as our mission, Bill Gross is the best entrepreneur in the world with whom we could hope to partner.”
Additionally, Allen Morgan, an investor with 40-years of investing in successful Silicon Valley startups and member of the Idealab board of directors, will join the Idealab New York board as Vice Chairman.
Other major stakeholders in Idealab New York include Tony Robbins, world-renowned peak performance strategist, and Peter Guber, CEO, Mandalay Entertainment; Owner Golden State Warriors and Los Angeles Dodgers; and #1 New York Times Bestselling Author.
“I believe that entrepreneurship unlocks human potential to solve big problems in the world,” said Bill Gross, Founder and Chairman, Idealab. “Since there is so much human capital in New York, we are thrilled to partner with Trillions to launch Idealab New York and create important and impactful companies together. What Trillions has already created in such a short period of time is extremely impressive, and we are so excited to imagine the new companies which Idealab New York will create going forward!”
The Trillions Co.’s mission is to incubate, accelerate, and scale durable startups and resilient founders who solve important problems in the world. The portfolio includes the global crowdfunding platform Indiegogo, the 3D-printed and AI-enhanced prosthetic device company Unlimited Tomorrow, the urban farming and education company Back To The Roots, as well the food pioneers in cold-pressed watermelon water, WTRMLN WTR, and nut butter, Wild Friends Foods.