A collaborative agreement with established flexible office space operator Saratoga CoWorks and the newly launched SPARK program of the Saratoga Economic Development Corp. will empower locally based entrepreneurs with mentoring support and access to potential capital to help promote, retain and grow new businesses in the region.
The pact will provide physical space and future educational programming at Saratoga CoWorks’ facility on Regent Street in Saratoga Springs.
Entrepreneur project companies who go through SPARK Saratoga analysis of their business idea or early stage companies who agree to a growth action plan to help them reach milestones will be eligible to access flexible space, at reasonable terms, managed by Saratoga CoWorks, officials said.
SEDC, through its Advance Saratoga startup advisory team of proven professionals, will develop programming in speciality business practices to help entrepreneur project teams. Skills ranging from legal and personnel challenges, marketing and advertising on a budget, to capital raises, will be developed to educate early stage companies for growth.
“To Advance Saratoga, we have been listening and learning from our community based members to promote, retain and grow businesses and jobs,” said Dennis Brobston, president of SEDC. “Launching SPARK Saratoga was just the beginning of how we aim to attract and retain talent that will accelerate locally based opportunities to grow the jobs and wages needed to bolster our future. Now, we can afford entrepreneurs going through our initial project analysis and agreeing to growth-action plans access to attractive space in Saratoga Springs.”
“We know from our community engagement that flexible price and term options for work space is essential so that startup teams are able to focus and meet with experts who can help them grow as desired. We are grateful for the community-minded commitment of our friends at Saratoga CoWorks to make this initial space available,” he added.
“As entrepreneurs ourselves, we know the challenges and worries of putting your financial futures on the line to pursue your own business,” said Dorothy Rogers-Bullis, president and co-founder of drb Business Interiors and Saratoga CoWorks. “We are grateful to be in a position to bolster the next generation of businesses who want to develop their futures close to where so many of us have desired to live, work and raise our families.”
SPARK Saratoga is operating and currently helping analyze the market potential and needs of more than a dozen new businesses in Saratoga County and beyond.
As part of its aggressive five year Advance Saratoga growth initiatives to retain and grow over 10,000 jobs before year end 2020, SEDC member investors prioritized retaining locally based businesses and helping them grow headquarters here.