WeWork Relaunches Early-Stage Startup Accelerator WeWork Labs
February 15, 2018 | WeWork, the international co-working space giant co-founded by Israeli Adam Neumann, with 212 locations and more than 200,000 members, has relaunched its WeWork Labs accelerator program with 27 spaces secured in 16 markets for 2018, according to a report in Tech Crunch. The WeWork Labs program ran in 2011, but was neglected as the company focused on other initiatives. With the relaunch, WeWork wants to offer very early stage startups a place to work and learn. The company has already opened its first location at 205 Hudson in New York City and will open its second in the Soho West office on March 1st. WeWork Labs will be run by the company’s former Head of Digital Roee Adler. While most companies in an accelerator might pay for inclusion and space with equity, WeWork will continue its rent-based formula by asking companies to pay for space at a rental fee determined before membership. WeWork is setting up a loose curriculum where members will receive access to educational resources and courses. The company will also hold small group sessions and bring in guest speakers for discussions and lectures. There is no graduation date, although WeWork members and community members will work towards an established end goal. According to the report, the company expects community managers at each WeWork Labs location to be “potential mentors, vendors, customers or collaborators.” WeWork Labs does not want to compete with other accelerators, but does want to partner with as many organizations as possible. They are also looking to customize each program based on location of the WeWork Labs facility.