Startup Hub Hosts @Raleigh Grand Opening, Feb. 19, as Another $100 Million+
Acquisition Boosts Ecosystem
February, 2014 -- The American Underground is officially expanding its network of startup hubs with the opening of its downtown @Raleigh location on Wednesday, Feb. 19. The American Underground is one of seven Google for Entrepreneurs tech hubs in the United States.
The sleek @Raleigh location features 13 startups as well as Bandwidth Labs, the experimental wing of Bandwidth, the company behind the acclaimed Republic Wireless phone. The American Underground’s two locations ,one in Durham and one in Raleigh, include 120 startups, as well as the incubators Groundwork Labs and Triangle Startup Factory, grant-maker NC IDEA and the Council for Entrepreneurial Development.
The rapidly growing Triangle ecosystem boasts acquisitions of more than $100 million (Durham’s DigitalSmiths to TiVo and Raleigh’s ShareFile to Citrix). The American Underground network is designed to support companies as they grow -- from one or two person operations to major corporations.
Mary Grove, Director for Google for Entrepreneurs, said: “We've seen the tremendous importance of physical space in bringing startup communities together. We've been excited to help connect communities across different cities with the Google for Entrepreneurs North American Tech Hub Network. Our team has been incredibly impressed with the great work these hubs have done in their cities, and are excited to continue partnering with them to do even more. In Raleigh and Durham, there is concentration of talent and our goal is to support American Underground in fostering the vibrant community here.”
Underground Chief Strategist Adam Klein added: “The potential that was so clear when we opened the first American Underground location four years ago is quickly coming to fruition. By firmly linking the Raleigh and Durham ecosystems through joint networking, regional shared access and programming, we expect to see even greater growth.”
The American Underground’s original location is at the American Tobacco Campus, a once-abandoned cigarette factory in Durham that has been transformed into a 21st hub of commerce and culture. Additional locations in downtown Durham and downtown Raleigh afford entrepreneurs a home base amid bustling businesses and nightlife.
Contact: Billy Warden | GBW Strategies | Principal | 919.412.0630