Following months of wrangling with the city of Stamford, the Stamford Innovation Center has agreed to vacate its headquarters at Old Town Hall as of May 31.
The move brings to an end a five-year run that has seen what SIC leadership described as “thousands of events and the sprouting of dozens of companies and hundreds of jobs in Stamford and the surrounding towns.”
Launched as a business accelerator for entrepreneurs, the SIC rented space at its Old Town Hall headquarters at 175 Atlantic St. to businesses of all stripes, and has been expanding its calendar seemingly exponentially ever since, especially in regards to technology: It rolled out its first-ever Stamford Technology Week and its inaugural Northeast Hackathon series last year.
“The growth of SIC-incubated startups such as Arccos Golf, Orthozon, Tru-Optik, Media Crossing, eBrevia, SmartMD and US Mobile is a testament to the strength of the talent of our region and the powerful outcomes that can happen when we apply ourselves as a community to grow our economy,” SIC Managing Partner Barry Schwimmer said. “These companies have collectively raised more than $25 million in venture funding and made a significant impact in the region.”
Schwimmer and Chief Marketing Officer Peter Propp will continue to develop innovation programs in the region and have founded Northeast Community Innovation Corp., a 501(c)(3) not-for-profit corporation that is focused on the growth of startup communities throughout the Northeast. The team said it is now considering alternative locations, primarily in Fairfield County. More information on this entity can be found at northeastinnovation.org.
As previously reported, SIC”™s exit came due to a rent dispute. In October, Old Town Hall Redevelopment Agency President Tim Curtin told the Business Journal that “they just haven”™t paid (the $16,000 per month rent), saying they had no money” for a number of months.
“Having an active tenant like the Stamford Innovation Center has been great for the downtown environment,” Curtin said about SIC”™s move. “We”™ve been proud to host the SIC team and their community and wish them the best.”
Programming at SIC will continue throughout May. Upcoming events can be found at the SIC website at stamfordicenter.com.
Why is this publication giving dead-beats free press? This group isn’t paying their rent, and therefore is being subsidized by the Stamford tax payers. Its sad to think that these guys who cannot even pay their rent are counseling young entrepreneurs. Do as I say, not as I do.