Artist's rendering of the American Underground space
DURHAM, NC – Two months after opening its doors as a new hub for entrepreneurs and start-ups, the Underground — located at the American Tobacco Campus – welcomes five new companies: Acorn Innovestments, Adzerk, Jaargon Ltd., Preation and Two Toasters.
The American Underground is providing the type of space many early stage companies always wished existed in the Research Triangle Park. It has restaurants and other amenities within walking distance and an atmosphere that promotes interaction.
“We want to be in what we believe will be the hotbed for a new wave of entrepreneurs and startups in the Triangle area,” said Rachit Shukla of the eight-person Two Toasters.
Aaron Houghton of Preation echoed the point, “There are 50 software start-ups in walking distance of the American Underground. We want to be part of the Durham start-up scene.”
After ramping up in what might be record time, the Underground is now stocked with a slate of diverse and dynamic organizations, many with backing from seasoned entrepreneurs like Houghton (co-founder of iContact).
“Being close to other start-ups and organizations supporting start-ups is incredibly valuable,” said Adzerk’s James Avery. “It gives us a chance to learn from each other and someone to enjoy a late night beer with before going back to work.”
The new team joins the Underground’s original line-up of Launchbox Digital, Joystick Labs and CED (Council for Entrepreneurial Development).
“Being close to Duke University and the airport makes the Underground great for connections and travel,” said Keval Mehta of Jaargon Ltd, the company behind, among other ventures, GoToAid. “The setup of the conference rooms and class rooms, and having other entrepreneurs to confer and network with is the best.”
The fast start took even the Underground’s founders by surprise. “Yes, Durham is a hive of entrepreneurs, and, yes, those entrepreneurs need a stimulating, central place to work and make connections,” said Michael Goodmon, vice president of real estate for Capitol Broadcasting Company,which owns American Tobacco. “We suspected there’d be interest, but it’s been exciting to see it come to life so fast. And there’s still more ahead.”
But being a small start-up in Durham can have its drawbacks. At Acorn Innovestments, one of the key players cottons to Duke while the other Walter Devins of Devins Law Firm — lines up with UNC-Chapel Hill.
Acorn’s Mike Noël said , “During certain local collegiate sporting events, the atmosphere within the partnership is at times a bit tense.”
The Underground’s new neighbors are chasing the following missions, in their own words:
Acorn Innovestments, Mike Noël : “Acorn Innovestments focuses it’s investments on start-ups and early stage companies with special attention to advanced materials, manufacturing, and environmental technology, in addition to other investments in which Acorn can contribute strong strategic value-add. In 2011, we will grow our networks in the Triangle and state-wide start-up community, while being an integral part of its growth and promotion.”
Adzerk, James Avery: “Adzerk is building a next generation ad server, our goal is to make the bannerads and other advertisements you see on the web more effective, faster, and less intrusive. In 2011, we are going to be launching our product to the public (we are currently in privatebeta). We will also be hiring our first full-time employees.”
Jaargon Ltd, Keval Mehta: “Jaargon Ltd is becoming a leader in delivering health care information conveniently and on demand through mobile devices. Our first project, GotoAID, is the premiere first aid resource on the internet and on mobile devices. Our focus is on ‘Mobilizing Healthcare’ by taking the medical “jargon” out of health care and bringing it to a level a non-health care professional can understand. We believe that by providing these tools we can empower people to take responsibility for their own health.”
Preation, Aaron Houghton: “Preation helps small businesses acquire new customers from the search engines and social networks. In 2011, we are launching version 2.0 of our Eden Platform product and will be hiring more software developers and user interface designers.”
Two Toasters, Rachit Shukla: “Two Toasters is a mobile agency; we focus on strategy, design and development of iPhone and Android applications. We are the mobile team behind a lot of successful venture-backed startups. In 2011, we will hire exceptional individuals who understand that mobile is the future of computing, achieve national recognition as mobile experts and have fun growing the business we started from scratch.”
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Tags: Aaron Houghton, Adzerk, American Tobacco Campus, American Underground, Capitol Broadcasting, CED, Durham, Jaargon, James Avery, Joystick Labs, Keval Mehta, LaunchBox Digital, Michael Goodmon, Mike Noël, NC, Preation, Rachit Shukla, Two Toasters, Walter Devins
