“When you’re an entrepreneur, the last thing you want to do is worry about where you’re going to live.” – Connor Bowlan, Cintric
As more cities look to attract young entrepreneurs and homegrown startups, housing is not usually the first topic of conversation, but is an important factor in attracting the next generation of talent.
Here are three examples of unique programs helping provide housing for young entrepreneurs:
Startup Residence Hall
The Brandery in Cincinnati is one of the country’s top startup accelerator programs. They attract a new crop of young entrepreneurs each year, most from outside of the area. Many of these companies are actively building the startup that just earned them a place in The Brandery’s program. Housing in a new city is the last thing they have time to worry about.
To solve this problem, The Brandery teamed up with Urban Sites to a create a first-in-the-nation housing model for startups that participate in their program. The accelerator signed a lease for two buildings to house the 10 to 12 startups that it accepts annually. And for the startups? They get affordable housing, close to the office, with landlord who’s willing to negotiate a short-term lease.
Billed as as Airbnb for startups, Cribb is also helping solve the temporary housing problem for teams that just need a space for 3-6 months. Cribb is a platform which enables investors and celebrities to offer promising startups the use of their vacant homes for free, in return for equity.
Startups apply on the site and Cribb reviews each company. Those that pass the screening process are introduced to homeowners who match their needs and interests. The homeowner can then decide to accommodate the startup in return for five percent of their business. Homeowners get to invest and startups get to innovate… in style!
Frank Wells has a plan to house startups that helps revitalize the cities that attract them. Clusters of abandoned, boarded up homes are driving down property value across the country. Turning these parts of a city around requires more than a paint job; it takes profound revitalization.
Wells is the President and CEO of Venture House. The St. Petersburg, Florida organization plans to buy multiple clusters of 5-10 homes across the area, fix them up, and then offer them to entrepreneurs that commit to live there and be involved in their new community.
“You can’t make a dent in the problem thinking about it as one house at a time,” he told Fast Company of the $5 million plan. “We have to think about it as 100 houses and a whole portfolio. That’s the kind of scale to make a dent.”
image by Venture House