Hollywood could be the home of South Florida’s newest technology business incubator, called the Venture Factory.
James Rohrbach, CEO of Miami Innovation Corporation (Startup Miami), is in final negotiations over a location for the new facility.
“We’re looking at industrial spaces in Hollywood, for something that will look more like The LAB Miami,” Rohrbach said. “In Hollywood, I can find rent for $15 a foot. In Miami, a new building near my home is going for $70 a foot, which is insane.”
His announcement comes during a new startup and tech boom in Miami and across the U.S., which some national business pundits have called a tech bubble.
Rohrbach said Hollywood is a good location for an accelerator/incubator because it is within a half hour drive to Miami, but is also closer to the Boca Raton tech complex. He said it also has an art community, which is something that startup businesses often thrive on.
Rohrbach said the goal for the Venture Factory is 12,000 to 30,000 square feet, which would be twice as big as LAB Miami.
The plan is for a shared workspace environment that will also function as an accelerator/incubator.
South Florida Business Journal