Grand Central Tech, the New York-based accelerator that gives startups free office space in Midtown and takes zero equity, is now accepting applications for its 2015-2016 class until May 1.
But it’s not just the free office space and no equity that should be attractive to startups — it’s also built for corporate partnerships.
The 11-month program gives startups access to a group of strategic advisors, mentors, corporate partners, growth partners and educational institutions.
GCT’s partner roster includes PepsiCo, L’Oreal USA, IBM, JPMorgan Chase & Co., General Assembly, Cornell NYC Tech and others. Even more, L’Oreal USA VP of Digital Innovation and Entrepreneurship Rachel Weiss, who was on KITE’s SXSW startup judging panel, is on the GCT board.
“The New York tech scene is growing by leaps and bounds, and creating a two-way dialogue between emerging and established companies helps create a stronger, long-lasting economy,” GCT co-founder and Managing Director Charles Bonello said. “We are looking to build a lasting legacy in New York and beyond and these partnerships allow us to create opportunities for our startups and companies in the space.”
Sounds too good to be true? Well, it’s not. The only two requirements for startups is 1) they hire at least one intern from GCT’s internship program and 2) that they commit to rent adjacent real estate for four years after the program ends.
Interested startups must apply by May 1.