Updated November 26, 2016
The latest developments have I/O Labs planning to open some time in the first quarter of 2017. The opening will be phased with the coworking space being the first to open, followed up by an accelerator program. I/O Labs plans to offer seed funding and office space for up to 20 companies when it launches the first cohort of the accelerator program. It will focus on Sacramento’s core strengths in health and medical, energy, education, transportation and civic tech. The new space on the corner of J Street and 7th in downtown Sacramento will boast a 13,000 square foot events and education center that will have a capacity up to 500 attendees for its planned entrepreneurial education programs.
Original Article Published November 20, 2015
A group of local entrepreneurs and investors have announced the establishment of I/O Labs, a 40,000 square foot innovation space supporting entrepreneurs, founders, investors, and startups. The new space, located near the site of the new downtown arena, will house Sacramento’s largest community of innovators, along with technology, design, civic innovation, urban prototyping and media labs. Individual desks, offices, and team rooms will be available, with larger spaces set aside for established technology companies, all supported by in-house services including legal, finance, marketing and development. I/O Labs will be additionally supported by several leading companies and organizations in the region with a focus on innovation and growth. I/O is in talks with an established Silicon Valley incubator and a San Francisco-based code academy to operate out of the space.
I/O Labs is the result of significant growth at The Urban Hive, already home to hundreds of individual and team members including entrepreneurs and Hive mentors Mark Otero and Oleg Kaganovich, as well as startups Wyndow, Wifient, Emtrain, Rocket Department and City Scout, and which serves as the Sacramento hub for national technology companies such as TED Conferences, Pandora Networks, Handy, and AngelHack, together worth more than $6B.
“Over the past decade, Sacramento’s startup community has done an amazing job of encouraging and supporting entrepreneurs starting off on their journey; not only through our efforts at The Urban Hive, but also those of SARTA, the Hacker Lab, and countless others,” says I/O co-founder, Brandon Weber. Since 2009, The Urban Hive has helped launch more than two hundred companies and supported nearly 1,000 entrepreneurs, providing work space, mentorship, support and development, as well as holding Startup Weekends, Sacramento’s first AngelHack, local TEDx events, and hosting free programs designed by IDEO and Y-Combinator.
“What Sacramento currently lacks is the ability to substantially support entrepreneurs beyond the earliest stages, and more is needed to drive innovation and create a more robust startup ecosystem in the area. As always, we’ll continue to work alongside other groups who support entrepreneurship in the greater Sacramento region,” says Weber. He points to the fact that The Urban Hive’s midtown space has had a wait list for nearly three years, forcing teams to leave the Hive’s collaborative community as they outgrow their space. “A common space is essential,” Weber argues, “but until now there hasn’t been one big enough to adequately house Sacramento’s top innovators all together and allow them to stay as they grow.”
The Urban Hive’s ability to expand physically and offer more robust programs for entrepreneurs stems largely from the support it’s received from a diverse array of mentors, advisors, and volunteers. This support now also includes multiple six-figure commitments from startup community members.
I/O Labs’ launch is backed by a number of partner investors from the Sacramento startup community, including serial entrepreneurs Jan Roos and Ryan Norman. As they explain, “The Urban Hive is uniquely positioned to leverage its strong membership base and national alliances with key local partners to support startups in this region.”
Hive Mentor and member Oleg Kaganovich adds, “The Urban Hive has built a strong community and entrepreneurial ecosystem – one that will grow significantly as it develops an even larger physical space and structured programs designed to lift fast-growing Sacramento companies.”
I/O Labs plans to launch and open to members in the first quarter of 2016, with limited sponsorships available for qualified startups on an application basis. I/O will also be accepting applications for offices and team space, with priority going to existing members of The Urban Hive. Find out more at sacramento.io.
