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A new generation of technology entrepreneurs looks to be gathering in a newly established area of office space in New York City, it has emerged.
An open plan site in Manhattan dubbed the General Assembly, is an open-plan office area that is aiming to foster the kind of innovation that has seen the likes of Google and Facebook become two of the most recognisable brands in the world.
A total of 20,000 sq ft of space has been set aside and is becoming increasingly occupied, with organisers expecting to see a considerable rate of turnover as fledgling companies out-grow their collective starting point.
Part of the idea behind the project is to create a university-like atmosphere of learning and free-thinking, with relative veterans on site to offer tuition and lectures to anyone else who might stand to benefit.
One of the masterminds behind the General Assembly, Adam Pritzker, told the New York Times: “We wanted to recreate the feeling of a college campus. Something that was outside the structure of an institution but had the same academic tendencies.”
The main focus of scheme is to develop the technology-related entrepreneurial talent that exists on the east coast and the endeavour has already received the backing of New York City Economic Development Corporation, as well as the Silicon Valley Bank and the communications company Skype.
“There is an opportunity here to help cross-pollinate the different creative communities in New York,” Mr Pritzker remarked.
A report from Cushman & Wakefield last week suggested that the “fundamentals are on the mend” as far as the market for office space to rent in Manhattan is concerned, with Q4 2010 having been a relatively positive three-month period for the city’s real estate sector.