When it comes to developing up-and-coming startup hubs, physical spaces can often be catalysts for innovation and entrepreneurship. And in Green Bay, the city's startup community has gotten a big boost thanks to TitletownTech, according to VC firm Revolution.
Revolution recently published a report highlighting 10 of the most innovative physical spaces "bolstering the next wave of economic renewal in cities across the U.S." Included in the list was TitletownTech for using an "anchor tenant" model to spark energy around its space and attract other startups. Originally used as a concept for malls to launch with top retail brands, the anchor tenant concept has been used in cities across the country to build startup momentum.
TitletownTech's anchors are Microsoft and the Green Bay Packers, who each contributed $5 million to launch the 46,000-square-foot space that officially opened earlier this year.
Located near Lambeau Field, TitletownTech features an innovation lab, venture studio and $25 million venture fund that plans to invest in startups. The three-story building is a space for entrepreneurs who focus on advanced manufacturing, supply chain, digital health, AgTech, sports innovation and other industries.
The space also features a restaurant and bar that includes Topgolf simulation bays.
Other spaces highlighted in Revolution's report include Union Hall in Cincinnati, the Idea Foundry in Columbus, and The Edney in Chattanooga.
"The most successful emerging ecosystems recognize that scaling a startup requires network density — being in close, regular contact with other creators who share a willingness to explore what is possible," Revolution's report states. "Because of that, these communities have focused on creating innovative places for entrepreneurs to work, share ideas, and solve problems. In turn, these gathering places have served as engines of transformation, helping to build a new future for often-neglected city centers."
Revolution, led by AOL co-founder Steve Case, has backed two Wisconsin startups in the last 12 months. It invested in Madison-based Understory though its Rise of the Rest fund, and it backed Milwaukee-based Bright Cellars through its Revolution Ventures fund.
