What is StartMart
StartMart is a startup and coworking community.
Our goal is to be a dynamic entrepreneurship hub connecting business to critical resources. StartMart is transforming Suite #200 of Terminal Tower, similar to Cincinnati’s Cintrifuse or Boston’s ID Building. The space houses some of our city’s existing startup assets as well as new resources such as StartPods, small, private offices that can be rented on a month-to-month basis. We create an atmosphere where startups are empowered to test, iterate, fail and scale. The creation, growth, and demise of all types of businesses are occurring at an ever-increasing pace. The opportunity to leverage these trends for wealth generation, job creation, and economic development has never been greater. Interested in learning more? Request a tour today.
From a regional economic development perspective, StartMart will be a jobs factory – manufacturing a multitude of new jobs every year. Recent developments in Cleveland have created an environment favorable to renaissance. To borrow from the great LeBron/Nike/Cleveland ad “Together! Cleveland!” The time is now!
The Building Plan
Downtown Cleveland is filled with unused office, retail, and restaurant space. Meanwhile, people are flocking downtown, driving occupancy rates above 95% and sparking a residential building boom. Cleveland has both a need and an opportunity for a dynamic, mixed-use mecca that will stimulate the creation and growth of all kinds of startups.
Here’s the plan:
- Startpods – small, private offices for promising startups and entrepreneurs that will allow teams to expand as needed and allow for both privacy and collaboration. Space is available via an innovative leasing model.
- Access to OneCommunity‘s ultra-high speed 100-gig broadband
- Permanent or satellite offices for startup accelerators, venture capitalists, angel groups, lawyers, accountants, service providers, or non-profits
- Virtual telepresence meeting rooms for regional universities and startup resources
- Coworking space offering daily, weekly, and monthly memberships
- Event space
Density and Diversity
Density and diversity are key components to both startup culture and successful urban areas. Centralizing startup activity within a focused core will result in invaluable synergies, unexpected serendipity, and increased dynamism. This vibrancy will draw even more people and transform the core of our city. Part of StartMart’s magic lies in its rental structure. Lease rates will be structured to allow new companies to become established at reduced costs and short terms. Successful companies will then convert to traditional leases while less successful companies will be replaced by new startups. The result will be a rapid, dynamic environment of startup ventures that will draw fresh, continuous traffic.
Variations on this model have proven to be successful in other cities. Some examples include: Chicago’s 1871; Cincinnati’s Cintrifuse; Boston’s ID Building, Washington DC’s 1776, Atlanta Tech Village and numerous others across the country.
For a more academic, but compelling, argument for the economic benefits of startups, urban density and diversity we strongly recommend the 2014 MPI report: Startup City.
Here’s a great excerpt, quoting leading venture capitalist Fred Wilson:“Technology innovation doesn’t occur in a vacuum. It happens in a dialog with society,” … [T]hat’s one of the reasons that many of the most interesting Bay Area startups are choosing to locate themselves in the city. And it is one of the reasons that NYC is developing a vibrant technology community. Society is at its most dense in rich urban environments where society and technology can inspire each other on a daily basis.”