(WallStreetJournal) New Lab, the soaring Brooklyn Navy Yard co-working space has plenty of competition for most fascinating startup status.
Unlike most co-working spaces that accept anyone who can pay the rent, New Lab launched in 2016 with strict criteria. Members must employ “frontier technology” such as quantum computing or robotics, says New Lab Chief Executive Shaun Stewart. Members must also produce something helpful.
Membership, which includes access to New Lab’s prototyping and fabrication shops, ranges from $500 a month for a free-floating desk to several thousand for a private office. Demand has been strong. Membership has grown from 23 startups in 2016 to 140 today.
The acceptance rate is just under 15%, says Mr. Stewart, and there’s a wait list for desks.