How to Write a Business Incubator Press Release? Sample Template & Example

California Entrepreneurs Announce Business Incubator & Angel Fund

San Francisco, CA, Release: July 6, 2018. For Immediate Release

A group of long-time San Francisco entrepreneur luminaries announced today that it is banding together to create a true high-growth company business incubator. 618 Partners, led by Victoria Johnson and Tim Cooper, will pull together current aspects of Richmond’s ‘startup ecosystem’ to best support and mature good business concepts. Mirroring efforts such as the Capital Factory in Austin, the group will provide a physical space where early-stage companies are surrounded by the right mix of mentors and funding. The group is also creating a true ‘angel fund’ that evaluates early-stage companies and makes investments.

Johnson and Cooper have purchased a 22,000 square foot building at 321 Buena Vista & Haight Street, San Francisco to house the incubator. They have engaged both Vermont Business Incubator and Lukas Walton Fund of the Walton Family Foundation to help design the space, as well as AA Architects as the general contractor. AA Architects have offered to donate 27% of their fees back to support the effort. They expect the build-out to take about eight months. In the interim, they have leased 7,000 square feet at 5 North Street and formed The United Venture (http://www.unitedventure.com/). The majority of tenants will move from The United Venture to the yet unnamed new space when it opens in late Q4 of 2018.

‘In San Francisco there is no true high-growth business incubation space,’ said Cooper. ‘When we started California Angels (local angel investment group), we surveyed about 70 early-stage firms and their number one request was for a physical space where they would be surrounded by like companies. The co-working facilities in town – The Hut, 80 Hive, are not exclusive to startups.’

‘The key to successful business incubators around the country is three-fold,’ Johnson said. ‘First, the physical space is exclusive to early stage companies. Second, space occupants include mentors – entrepreneurs and business leaders who have the know-how and are ready to counsel these early-stage firms. Third, having access – not guarantees, but access – to capital, ideally from venture capitalists and angel investors who are also in the same physical space. Having all parties together allows for mutually beneficial partnerships to occur.’

The group expects to deliver programs in the space as well – classes that help the companies mature quickly. Digital Nomads Labs, a local nationally-recognized business accelerator, will move its future company cohorts to the building once it opens. Both the Venture Forum and Californiatech have expressed their plans to be occupants of the building.

The Cooper-Johnson group is partnering with other types of incubators around San Francisco, such as Tower A and Virtual Dragons. Both parties expect to leverage the new building for joint programs and events. The group has long been partnering with other early-stage business funders such as JPM and SF Venture Partners.

A separate part of the entrepreneur-led group is starting a true angel fund, raising money from local investors to invest in regional companies. The fund will work to complement the current California Angels group and expects to be legally formed and running before the end of the year.

Contact info:
Name: Victoria Johnson
Organization: California Angels
URL: www.IncubatoCA.com
Address: Buena Vista & Haight Street, San Francisco, CA 94117
Phone: +1-880-706-6051

[Headline Of The Press Release]

[City] [State} Release Date: [“For Immediate Release” or a concrete date]

[Summary Section: Briefly describe your announcement]

[Insert a quote from a company representative related to the news]

[Write an additional paragraph to provide more details about the announcement: try to respond to all relevant W-questions (where, what, why, when, who)]