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Google’s new initiative to provide support to startup businesses

| Oct 2, 2013 | Business Formation & Planning |

North Carolina entrepreneurs may be interested in a new initiative from technology giant Google, which is seeking to help new companies get some much-needed help in their early days. Google is partnering with co-working spaces in seven U.S. cities, including Nashville, Chicago and Minneapolis, where entrepreneurs can go to grow their new businesses.

The new initiative, announced on Sept. 25, will create seven new “startup hubs” across the country. These seven join two existing hubs that Google has already established in London and Tel Aviv. Google is partnering with co-working spaces through their Google for Entrepreneurs branch. These spaces will be places where entrepreneurs can gather to use office space and find mentors for their growing startup businesses.

At the Chicago launch event, Google promised to offer technological and financial help to the startups. This includes access to products and cloud-based storage, as well as a credit on their Google App Engine. The company has also said that it would check in on each hub area monthly and arrange annual gatherings for all of the hubs. On the financial side, it is unclear what help Google is offering, but it will not be taking equity in the startups that work within the hubs. This venture is part of a wider trend that is seeing larger companies, like Google and Samsung, creating incubators to nurture young startups for the promise of future cooperation.

Getting a startup company off the ground can be a daunting task, but can lead to exciting opportunities and future successes. An attorney who has experience in establishing a business may be able to help launch a business startup properly, whether it involves choosing the appropriate entity form or maintaining regulatory compliance.

Source: CNET, “Google looks to help startups start up, unveils hub network“, Richard Nieva, September 25, 2013

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