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Thriving Innovation Ecosystem & Networking Opportunities Attract Startups to Coworking Space at Bell Works

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 Colab at Bell Works in Holmdel is one of 11 collaborative workspaces currently approved by NJEDA to participate in NJ Ignite.

TRENTON, N.J. (March 25, 2019) – In 2017, TrueConnect founder Michael Glaicar was deciding whether to start his company in New York City or New Jersey. After touring Colab, Bell Work’s coworking space in Holmdel, he immediately knew that it would be a natural fit for his cloud-based software startup.

Among the things that impressed Glaicar was the magnitude of the innovation ecosystem forming at Bell Works. He noticed technology companies like iCIMS and WorkWave were flourishing at Bell Works and saw the potential for a fast-growing tech company to thrive in Monmouth County. The decision to locate at Bell Works was also based on his feeling that the impressive building and its resources would be valuable for recruiting talent, and the opportunity to network with entrepreneurs from a broad range of industries would be beneficial to his company’s growth.

Glaicar’s sentiments are echoed by many of the more than 170 entrepreneurs currently calling Colab home.

“We’ve experienced exponential growth in the past year as more people realize the value of the ‘metroburb’ work-shop-play environment taking shape at Bell Works,” said Colab Managing Director Sean Donohue. “We attribute this growth to word-of-mouth referrals and are optimistic that the New Jersey Economic Development Authority’s (NJEDA’s) NJ Ignite Program will help attract even more tenants to the coworking space.”

NJ Ignite supports technology and life sciences startups moving to collaborative workspaces by offering rent support, making lab and office space more affordable, and providing eligible startups with greater access to environments where they can work alongside other growing technology and life sciences companies. For incubators, accelerators, and coworking spaces, the program serves as a tool to help attract young businesses to their facilities, while encouraging the creation of new collaborative workspaces throughout the state. Colab is one of 11 collaborative workspaces currently approved by NJEDA to participate in NJ Ignite.

“Governor Murphy often talks about how forming technology hubs where entrepreneurs can gather and collaborate is essential to reclaiming New Jersey’s role as a leader in innovation,” NJEDA CEO Tim Sullivan said. “The community of innovators at Bell Works is a representation of this model in action. Through NJ Ignite, we aim to make collaborative workspaces more accessible to New Jersey technology and life sciences companies in their earliest stages.”

TrueConnect was one of 22 companies that participated in New Jersey Founders & Funders this past November. New Jersey Founders & Funders enables early-stage businesses to meet with potential investors in 10-minute, one-on-one “speed dating” sessions to discuss strategy, business models, and funding opportunities. Each participating entrepreneur meets an average of six investors in curated one-on-one meetings during the event.

The next New Jersey Founders & Funders event is scheduled for May 9. Entrepreneurs interested in participating in New Jersey Founders & Funders can apply online at https://application.njeda.com/tls/. Participation is a on a first-come-first-served basis. 
 
To learn about the various resources available to support the technology industry, visit http://www.njeda.com/tls and follow @NewJerseyEDA on FacebookTwitter, and LinkedIn.
 
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