The Factory coaches technology startups

Technology start-up companies around the United States who are looking for resources and capital may soon be talking with a recruiter who is directing their attention to St Augustine; according to an announcement received by Historic City News last week.

Doing business as “The Factory”, the private technology accelerator and CoLab will have an official opening in January of 2013 — they opened their doors for a soft launch on November 15.

“Technology is the future and St Augustine seems to be on that bandwagon,” owner Mike Potts told local reporters. “The long term economic impact of our new venture in St Johns County and Northeast Florida is significant.”

Potts software engineering company, called “feature[23]”, will actively recruit across the nation to bring start-ups to Florida from his offices located in the historic Solla-Carcaba Cigar Factory on Riberia Street in downtown St Augustine.

The Factory acts as a business incubator, of sorts — they put together talented professionals with hand-picked technology start-ups, and then encourage and coach them along the path to success; connecting them with venture capitalists, grant and private funding sources, and other valuable business connections that they have already developed.

“We are extremely passionate about helping other businesses and growing the community here,” said Jeremy Vaughan. “Through collaborative efforts, we have made significant connections with emerging companies.”

Part of the strategy at The Factory, is to keep entrepreneurs focused and on task as they design the products and implement the technology needed to deliver their services to the marketplace — which could be anywhere on the globe.

“The city, and the entire county, is truly focused on growth and enticing innovative technology companies to base their operations in this environment,” Vaughan said.

Some of the reasons technology companies have been in the crosshairs for the Economic Development Council is they are “lightweight” — have virtually no adverse environmental impact and have the potential to create better-paying jobs.

“Technology startups enrolled at The Factory will have every opportunity to succeed,” said Norman Gregory; St Johns County Chamber of Commerce, Vice President of Economic Development. “The tools available with the support of an organization like The Factory can significantly reduce the risks associated with opening a new business.”

To find out more about “The Factory” visit oldcityfactory.com.