On the 14th of March, 2019, WeWork had announced the launch of WeWork Food Labs. This would be a new initiative that would focus on food and agriculture. WeWork is expecting to launch this startup initiative on the 1st of October, 2019.
Who is WeWork?
WeWork is an American based company that provides work spaces for technological startup; it also provides services for entrepreneurs, startups, small businesses, and large enterprises.
“WeWork Food Labs” could be one of the many vertically absorbed ventures; the company would be launching in the future in order to expand its horizon.
Roee Adler, who is the Global Head of WeWork Labs, said the following to TechCrunch –
“I do have to say, food carries a disproportionate amount of weight and attention. We think it is one of the most exciting areas in the world right now because this isn’t merely about encouraging businesses — this is about the future of the world, no less than what our children will eat.”
More Insight –
More about WeWork Food Labs –
This project intends to offer two different tracks – Food Labs Membership and Food Labs Accelerator.
Food lab membership is a workspace, which includes food-related startups at their very early stages that would get benefitted from introductions to upcoming packaged goods brands, access to professional and commercial kitchens with all the equipment’s and access to farms for fresh grown.
Food Labs Accelerator focuses on solving critical issues in the food industry; and WeWork is committed to investing more than $1 million in food and agriculture startups. Adler said he’d be revealing more details about Food Labs’ investments down the time.
The Partner Companies –
Partner companies in this new program include The Spoon and Global Investment Firm. The companies selected to be a part of the program are encouraged to stick on to their membership at least for a year. Although considering the lack of space and infrastructure that wouldn’t be a problem.
6sqft mentions in their article that “The Chelsea location will provide members with a custom R&D space, pantry, private dining room, merchandising area, indoor-outdoor event space, dedicated desks, private offices, conference rooms, phone booths, a photo studio and a podcast studio. Members will also enjoy subsidized access to farm space, commercial kitchens and maker spaces.”
Adler said the plan is to open a temporary Food Labs office on May 1, then move into the permanent “flagship” space on October 1st, 2019.
Also a flagship New York City will be located at 511 West 25th Street adjacent to the High Line in West Chelsea.
Applications for the accelerator are open now. Hence, you may try it for yourself and provide your verdict over it.