VelocityTX Releases Early Design for Texas Startup “Innovation Center”
San Antonio—A new “superhub” for entrepreneurs and startups in San Antonio is taking shape—at least on paper.
VelocityTX, an organization unveiled last month that plans to support and promote local startups, released early renderings of its plans for a three-building “innovation center,” which it says will include an event space, labs, offices, and other resources for young businesses. The Texas Research & Technology Foundation (TRTF), a bioscience and tech economic development group that created VelocityTX, purchased an industrial complex with 110,000 square feet of building space in September, some of which it plans to use to house the new center.
TRTF also plans to develop shopping, apartment, hotel, and retail space on the site. In the rendering, the innovation center appears to take up about half of the five acres of land that the foundation purchased. TRTF has released few other details about the innovation center and doesn’t have a timeline for completing the project, according to a spokeswoman.
The buildings are located just east of downtown San Antonio, a few blocks away from the Alamo.
TRTF created VelocityTX to provide capital, mentorship, access to manufacturing facilities, and other resources to startups and early-stage companies in San Antonio. So far, the group has agreed to partner with a startup incubator in Chile as a part of its effort to bring businesses from around the world to the U.S., and possibly to the Alamo City. It has also agreed to take over the operation and management duties of the Alliance of Texas Angel Networks, a group that coordinates 14 accredited angel investor networks across the state.
Other cities from Seattle to Madison, WI, have seen similar investments in startup spaces. A nonprofit entrepreneurial center in Madison called StartingBlock raised $3 million last year for a 50,000-square-foot, eight story building.