EvoNexus To Consolidate Downtown And UTC Incubators Into University City Location
EvoNexus is consolidating its San Diego tech and hardware startup incubators into one 18K SF facility in University City. Previously the nonprofit incubator provider operated a tech startup facility in downtown, a facility for hardware developers in UTC and a startup facility in Irvine, the San Diego Union-Tribune reports. The closing of the downtown site will move those companies into the new UTC location.
The new incubator facility is custom-designed with lab space, open work areas and conference facilities, according to EvoNexus CEO Rory Moore, who said the moves will be completed by Nov. 1. The Irvine Co. donates space to EvoNexus for all its locations.
Moore said the decision to combine the two incubators was based on the need to give startups greater attention, which is complicated when they are in separate locations. He said downtown now has a vibrant co-working ecosystem, with providers such as WeWork, NEST CoWork, Plug & Play and Desk Hub offering office space and other services for startups.
Some in the downtown startup community are not happy about the move from Irvine Co.’s high-rise office tower at 101 West Broadway to University City, as EvoNexus firms had solid technology teams and hosted networking events for entrepreneurs living and working in the downtown core, the San Diego Union-Tribune reports.
“It definitely will be a short-term hit to downtown,” Andy White, a startup advocate, told the paper.
Irvine Co. will continue to operate The Vine, a 9K SF, low-cost co-working space for startups, at the downtown location.
EvoNexus mentors 51 startups, with 19 at the UTC location and 16 in both downtown and the Irvine site. The incubator operator has 150 startups that have secured $1B in outcomes, either in venture capital or acquisition by larger companies.