Health & Fitness
Jay DeVivo's Innovative Proposal for the Hartford
Simsbury Economic Development Commissioner Jay DeVivo proposed a second life for The Hartford’s building in Simsbury as an Innovation Center at a meeting of the Simsbury Economic Development Commission on Thursday.
The Innovation Center would be modeled after CIC (www.CIC.us), an innovation center in Cambridge, Mass. that has grown to nearly 210,000 square feet. Over 1,400 startups got their start at CIC, raising over $1.8 billion in venture and strategic capital since 2001.
In the concept proposed by DeVivo, The Hartford facility would also house the innovation groups of larger companies. DeVivo believes that bringing startups and larger companies under one roof offers unique benefits. “It works out for everyone. Larger companies can get their innovation groups out of headquarters and in an environment of new ideas and perspectives to help them re-imagine their businesses. By having startups as neighbors, they get access to new technology and approaches ahead of their competitors. For start-ups, larger companies represent potential customers, partners, and strategic investors.”
Find out what's happening in Simsburywith free, real-time updates from Patch.
DeVivo also presented his proposal in a letter to Hartford Vice President and Assistant General Counsel Tom Bartell. If there is interest on the part of The Hartford and the EDC, DeVivo offered to facilitate a tour of CIC.
“This is really a terrific opportunity to bring high-paying jobs to Simsbury and assist The Hartford in marketing its property. Hartford will be transitioning out over the next 18 months or so, there may be an opportunity to dovetail their gradual exit with new companies coming in.”
Find out what's happening in Simsburywith free, real-time updates from Patch.
DeVivo indicated that idea is already drawing interest. “I am very excited about this opportunity. I have spoken to several people in the entrepreneurial community that are willing to do what it takes to help this project succeed. I have already spoken with companies that will take space that would represent over $100,000 in rent.”
Additional information about the proposal can be found at http://bit.ly/DeVivo_Hartford.
