After being rejuvenated earlier in 2018, WeWork Labs is officially debuting in the District.
Back in 2011, WeWork Labs launched as an accelerator-type program, run by the coworking giant. But, as WeWork's high growth brought it to other initiatives and expansion plans, the Labs program fell by the wayside. Until February, when WeWork re-launched the program with plans to bring it to 27 spaces in 16 markets this year.
One of those markets is D.C., where WeWork Labs is setting up shop at the new 80 M St. SE location in Navy Yard. In the new iteration, Labs isn't exactly an accelerator or incubator. Instead, the goal is to provide startups with a place to work and learn from local experts, other WeWork members and educational training offerings.
The new D.C. program, set to start on June 1, is WeWork's first U.S. expansion outside of New York City, where the coworking giant is headquartered. It also has a Labs program running in São Paulo, Brazil. To participate, startups sign up for the program and must pay $400/month per person. WeWork doesn't take an equity stake, but instead WeWork will organize lecture series, small group sessions and one-on-one mentorship meetings for members.
As such, this program is more like a coworking offering tailored just for startups with mentorships and skill-building activities being a part of the amenities. Startups from any industry or growth stage are welcome to enroll.
"D.C. has always been home to change makers, and WeWork Labs hopes to create the next generation of innovators in our nation's capital," Roee Adler, global head of WeWork Labs, said in a statement.
