American Underground@Main: New Startup Hub Launches w/ 40 Companies, Challenges Entrepreneurs "To Be Rather Than to Seem" "Echo Chamber"? Not in the Research Triangle's Fast Growing Entrepreneurial Ecosystem (Durham/Research Triangle) - July 18, 2013 - In the entrepreneurial world, success should lead to more success. So it is with the American Underground. After pioneering the Research Triangle's startup scene with a fully-equipped hub that launched in 2010, the Underground debuts a second location on Thursday, July 18. Located at 201 West Main Street in Durham, the new space is an extension of the award-winning American Tobacco Historic District, home to the original Underground hub as well as many mature companies, and strategically located between Research Triangle Park and world-class universities. Opening with 40 startups signed on, the 22,000sq-ft American Underground@Main is designed to: --Offer state-of-the-art amenities as well as thoroughly thrilling extras for up to 50 startups. This includes polished meetings rooms (one in a former bank vault) as well as a 50 ft slide and a giant Mayor McCheese head. --Foster and accelerate creativity and collaboration with a mix of open, un-walled space, meeting hives and discreet offices of various sizes --Serve as a crossroads for innovation in the Research Triangle and North Carolina via regular learning and networking events The expanded Underground also completes an "entrepreneurial ecosystem" that may be utterly unique. Downtown Durham -- flush with more than 100 startups -- now has customized space and a clear trajectory for: --early stage startups (the Underground@Main) --newcomers poised for growth (at the original Underground, now known as the Underground@American Tobacco) --mature tech companies (the award-winning American Tobacco Historic District, home to successes such as Bronto and Appia) "To Be Rather Than to Seem" The Underground model has earned national attention. Paul Singh, a venture partner with the national 500 Startups, visited recently, noting, ""I've rarely seen an entrepreneurial ecosystem as thoughtfully developed or successfully executed as the American Underground and Durham." Underground leaders envision their ultimate goal as a twist on North Carolina's official motto: "To be rather than to seem." "At the Underground, we want to help launch businesses with truly innovative ways to serve real world needs and see them grow into full-fledged successes that produce good jobs," says American Underground Chief Strategist Adam Klein. "It's no secret that the startup world is sometimes charged with being an 'echo chamber' that relies too heavily on hype. There's not a lot of 'hype' here in Durham. Instead, we're focusing on the pieces that make for real world success: good ideas, access to capital and mentors, and, ultimately, positive deal flow." Other recent visitors include John Biggs (TechCrunch), Joe Klein (TIME), Alexis Madrigal (Atlantic Monthly) and the President's Council for Jobs and Competitiveness, including G.E's Jeff Immelt and Facebook's Sheryl Sandberg. Making Investments and Partnerships Work Keen to capitalize on a regional entrepreneurial legacy that includes SAS and Red Hat, Underground leaders have recruited regional partners, including the Research Triangle Park Foundation. Says CEO Bob Geolas: "We believe in investing in the entrepreneurial community and we are committed to making those investments and partnerships work. RTP is focused on regional entrepreneurship that will create more jobs and educational opportunities for our state." NC IDEA -- a catalyst for young, high-growth, North Carolina tech companies -- will sponsor relevant content for entrepreneurs via events, networking and other programming. University partners include Duke, NC Central, NC State and the University of North Carolina at Chapel Hill. To highlight the region's many attractions, including Durham's burgeoning reputation as a foodie mecca, @Main's opening party features eats and drinks from a variety of local producers. Railhouse Brewery, for example, is providing pours of its acclaimed craft beers. Republic Wireless is raffling one of its groundbreaking $19 per month mobile phone packages. @Main's roster includes: Archive Social, Duke University, Cloudfactory, NCCU, PopUp, Durham Cares, Sovereign's Capital, Virtue Event Planning/ Tivi Jones Media/ Art of Cool, Zone Five Software, eyeNET Security, Knurture, PRSONAS, InfoHounds, ShiftZen, Hazard Studios, Text2Give, 519 Games, Robotfactorial, Changemaker Capital, StoreHouse, Trust, LifeKit, Side, Z Shift and Third Track, Open's Horse, Splitmo, CrowdSearch, Latitude, Growth Partners, Mighty Thumbs, Haiti Hub, Investors Mosaic, CleanHatch. For more information, please visit www.americanunderground.com.
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