A new hub for startup businesses in Raleigh is set to open this fall.
Durham-basedAmerican Underground says it's opening space enough for 25 startups on Fayetteville St. in downtown Raleigh. The company sells affordable commercial space to Durham entrepreneurs in exchange for connecting them with investors and providing other support.
American Underground chief strategist Adam Klein says the expansion is meant to bolster a regional business model as startups go through the development process.
"What we're going to be able to offer through the regional desk is a chance for that Raleigh startup to be able to come into our two locations in Durham, use our conference rooms and our Internet, and be able to plug in immediately and seamlessly without having to lose a step in that process," Klein says.
"The Triangle is the brand that stands out. It's known as the innovative hub and the place of big brains and big ideas, and so our move to Raleigh is really a great opportunity for us to give startups in cities around the Triangle broader and deeper access to the resources that are going to help get their companies going."
Klein says several startups have outgrown their space at Underground since the Durham offices opened in 2010. Underground is opening the new space in partnership with the Raleigh technology company Bandwidth.