Geonetric Partners with Vault Coworking, Sets Stage for Attracting Entrepreneurs to Corridor
In an effort to build a nation–leading entrepreneurial support system, Vault and Geonetric partner to create the first large-scale collaborative work space in the Corridor.
Cedar Rapids, IA — June 28, 2013 — Look out, Silicon Valley. Cedar Rapids is well on its way to becoming one of the nation’s top locations for entrepreneurs and creative thinkers. Eric Engelmann and Ben Dillon, co–owners of Cedar Rapids-based software company Geonetric, announced plans to partner with Vault at the coworking company’s second anniversary celebration last night.
Geonetric is slated to break ground this summer on a 5.5 million dollar new building in the popular New Bohemia arts and entertainment district, and Vault will take up residence on the building’s second floor.
“Vault is an amazing gathering place for entrepreneurs, thinkers, dreamers and creative professionals that provides a unique opportunity for collaboration,” says Engelmann, president and CEO of Geonetric. “It has already launched some incredible startups, and this will add fuel to the fire in our community. We’re aiming to launch 100 or more startups in the next few years.”
Engelmann, an active proponent of the Corridor and successful entrepreneur, understands the resources needed to help companies get off the ground.
“With a talented workforce and up-and-coming creative district like NewBo, Cedar Rapids has a great foundation in place to encourage innovation and inspiration,” says Engelmann. “Now it’s time to take that foundation and build on it with low cost office space, Entrepreneurial Boot Camps, and technical programs designed to help new entrepreneurs. We’re going to put Cedar Rapids and the Creative Corridor on the map on a national scale.”
The approach is especially unique in that Geonetric and Vault members, expected to be almost 200 people by 2015, will be sharing the second floor to encourage knowledge and idea sharing between the organizations.
“This idea of placing dense groups of smart, creative people from multiple companies in one building with shared common areas is being done all around the country with great success,” says Amanda Styron, CEO of Vault. “Vault and Geonetric will be the first in the Corridor to build such a large creative community in one place.”
Curt Nelson, president and CEO of Cedar Rapids’ Entrepreneurial Development Center sees the move as filling a critical need in the Corridor.
“Vault’s coworking space and programming are important resources for entrepreneurs,” says Nelson. “This partnership makes the Creative Corridor even stronger in its ability to launch new businesses.”